PEXA Group (PXA) H1 2026 earnings summary

Executive summary

• Achieved 10% revenue growth to $215.3 million and 19% EBITDA growth to $85.8 million for 1H26, driven by record transaction volumes in Australia and recovery in the UK, supported by disciplined cost management and operational improvements.

• Statutory NPAT from continuing operations was $15.4 million, reversing a prior year loss, while NPATA rose 33% to $40.3 million.

• Exited Digital Solutions segment, classifying it as discontinued operations and recording significant impairments.

• Strengthened balance sheet with $25 million debt repayment, reducing net debt/EBITDA to 1.4x.

• Focus sharpened on core exchange operations, launching new products like PEXA Clear and progressing UK expansion.

Financial highlights

• Group revenue up 10% year-over-year to $215.3 million; EBITDA up 19% to $85.8 million; EBITDA margin expanded from 36.8% to 39.9%.

• NPATA from continuing operations increased 33% to $40.3 million; statutory NPAT at $15.4 million.

• Free cash flow increased 25% to $40.2 million; operating cash flow up 33% to $60.1 million.

• Capex was $25.7 million, down from $26.8 million; capex to revenue ratio decreased to 11.9%.

• Discontinued operations (Digital Solutions) posted a loss after tax of $29.6 million due to impairments.

Outlook and guidance

• FY26 guidance upgraded: group EBITDA margin 34–37%, core NPAT $15–25 million, capex reduced to $50–55 million.

• Focus for 2H26 includes launching PEXA Clear, completing NatWest UK implementation, and scaling UK operations.

• Margins expected to soften in 2H26 due to seasonally lower volumes and higher expenses.

• Continued investment in Australian Exchange and international platform, with Digital Solutions exit to complete by end FY26.