Bailador Technology Investments (BTI) H2 2025 earnings summary

Executive summary

• Achieved net profit before tax of $27.1m for FY25, with post-tax profit of $19.25m, slightly down from $20.67m in FY24.

• Private portfolio delivered a 33% IRR, with $43.4m gains, while public portfolio declined 6%.

• Deployed $40.8m in two new and three follow-on investments; paid fully franked dividends of 7.1c per share.

• Portfolio companies showed strong revenue growth, with combined underlying revenue up 47% year-over-year.

Financial highlights

• Earnings per share: 13.04c (FY24: 14.18c); NAV per share (pre-tax): $1.791; post-tax: $1.644.

• Total assets increased to $280.4m from $267.5m; final dividend declared at 3.6c per share.

• Portfolio return (post-tax): 7.8%; grossed-up dividend yield: 8.1%.

• Cash and cash equivalents at year-end: $14.9m (down from $62.0m in FY24).

• Management and performance fees totaled $10.6m for the year.

Outlook and guidance

• Expect continued strong performance from private portfolio; public investments anticipated to rebound.

• Focus remains on deploying capital into high-growth tech-enabled services and SaaS businesses.

• Ongoing emphasis on leveraging AI across portfolio companies for operational efficiency and growth.