Bravura Solutions (BVS) H1 2026 earnings summary

Executive summary

• Underlying revenue grew 9.8% year-over-year to $140.0m, with underlying NPAT up 128.3% to $25.9m and cash EBITDA up 71% to $34.2m, reflecting strong operational performance and margin improvement.

• Interim and special dividends totaling 10.23 cents per share ($45.9m) were declared, representing 100% of NPAT for the half.

• Cash balance at period end was $64.5m with no debt, and a new CEO, Colin Greenhill, was appointed effective 1 January 2026.

• Entered the UK Workplace market with a new anchor client, supporting growth with existing customers and market expansion.

• Upgraded full-year 2026 guidance for both revenue and cash EBITDA, marking the second upgrade this year.

Financial highlights

• Revenue increased by $12.5m (9.8%) year-over-year to $140.0m, with recurring revenue up 5% to $81.3m.

• Underlying cash EBITDA reached $34.2m, up $14.2m year-over-year, with a margin of 24.4%.

• Underlying NPAT was $25.9m, up $14.6m year-over-year.

• Operating costs stabilized at $101.5m, supporting margin expansion.

• Net closing cash balance stood at $64.5m, with no debt.

Outlook and guidance

• FY26 revenue guidance upgraded to $280m–$285m, with cash EBITDA expected at $69m–$73m and PP&E circa $4m.

• Midpoint of updated guidance indicates higher profitability and cash EBITDA in 2H26 versus 1H26.

• R&D investment focused on Alta and Advice OS to strengthen product functionality and expand the addressable market.

• Growth with existing customers expected to offset attrition and less favorable FX impacts.

• No significant changes in the state of affairs during the period; no material events expected to impact future operations.