Findi (FND) H1 2026 earnings summary

Executive summary

• Achieved significant financial access expansion in India through acquisitions of TCPSL (FindiATM) and BankIT (FindiBANKIT), integrating over 4,500 ATMs and 120,000 merchant touchpoints, and launching a unified FindiBANKIT portal.

• Completed integration of BankIT and TCPSL, creating a large hybrid financial network and supporting a shift to a “phygital” banking model, with digital revenue now nearly one-third of total revenue.

• White Label ATM license received in perpetuity from RBI, expanding reach to approximately 175,000 touchpoints across 12,000+ post codes, with strong sales momentum.

• New BC MAXX centres piloted with Central Bank of India, preparing for broader rollout.

Financial highlights

• Total revenue for the half year ended 30 September 2025 was $49.26 million, up from $33.9 million year-over-year, while 1H26 revenue grew 51% year-over-year to A$46.4m, driven by acquisitions and digital expansion.

• Operating loss after tax was $24.65 million, including $9.2 million in non-recurring costs; underlying EBITDA was A$8.2m, with operating EBITDA at (A$1.0m).

• Net assets at 30 September 2025 were $42.6 million, down from $64.5 million at 31 March 2025.

• Basic and diluted loss per share were (37.76) cents, compared to (7.28) cents year-over-year.

• Net cash used in operating activities was $6.52 million, versus $7.65 million generated in the prior year; cash and cash equivalents at period end totaled A$66.4m.

Outlook and guidance

• Funding initiatives underway, including new term debt facilities and a proposed A$30–50 million note facility to support operations and expansion, with non-binding commitments scalable up to A$100m.

• Planned listing of TSI Group on BSE by March 2027, targeting a primary and secondary offering of A$87–111 million each.

• FY26 revenue guidance reaffirmed at A$100–105m, up 60% year-over-year, with operating EBITDA expected at A$10–12m, or A$18–20m underlying.

• Budgets and forecasts indicate a return to profitable trading and positive cash flow within 12 months, with a strong second half expected as integration benefits are realized.

• Focus on completing Brown Label ATM rollout and maximizing digital GTV growth ahead of planned FY27 IPO.