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Felix Group (FLX) AGM 2025 summary

Event summary combining transcript, slides, and related documents.

Logotype for Felix Group Holdings Ltd

AGM 2025 summary

20 Nov, 2025

Opening remarks and agenda

  • Meeting opened by the Chairman, with all directors, CEO, CFO, and auditor present; conducted both in-person and virtually.

  • Shareholders could ask questions and vote in real time, with all resolutions decided by poll.

  • Valid proxies received from 20 shareholders representing 41.76% of shares; Chairman held open proxies to vote in favor of resolutions.

  • Agenda included CEO transition, financial report, and voting on resolutions.

  • The annual meeting is scheduled for 12 November 2025, with a focus on presenting FY25 results and strategic direction for FY26.

Financial performance review

  • Group revenue grew 21% to AUD 8.6 million, driven by record sales in the enterprise procurement platform.

  • FY25 revenue reached $8.3m, up from $6.8m in FY24, with enterprise ARR growing 20% year-on-year to $6.9m.

  • Net loss after tax was $4.7m, an improvement from the prior year’s $5.1m loss; adjusted EBITDA loss narrowed to $2.9m.

  • Achieved positive operating cash flow for the full year, net inflow of AUD 418,000, with stable cost base.

  • Gross margin remained steady at 76%, with contractor revenue up 31% and vendor revenue stable.

Board and executive committee updates

  • CEO Mike Davis stepped down after 13 years; James Frayne appointed interim CEO during search for a new leader.

  • Board comprised four non-executive directors and one managing director; Michael Trusler resigned in November 2024.

  • Board expressed gratitude to outgoing CEO and outlined a smooth leadership transition.

  • All directors attended scheduled board and committee meetings during the year.

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