PEXA Group (PXA) H1 2026 earnings summary

Executive summary

• Achieved record half-year revenue of $215.3 million in H1 FY26, up 10% year-over-year, driven by strong transaction volumes, disciplined cost management, and robust Australian and UK market conditions.

• EBITDA rose 19% to $85.8 million, with margin expanding to 39.9%, reflecting operational improvements and cost discipline.

• Statutory NPAT from continuing operations was $15.4 million, reversing a prior year loss.

• Exited majority-owned Digital Solutions businesses, classifying them as discontinued operations and sharpening focus on core exchange and international segments.

• Launched PEXA Clear AML solution ahead of July 2026 compliance deadline and advanced UK expansion with NatWest implementation ahead of schedule.

Financial highlights

• Group revenue increased 10% year-over-year to $215.3 million; Australia revenue up 10.2% to $181.8 million, International up 8.4% to $33.5 million.

• EBITDA margin expanded from 36.8% to 39.9%; Australia margin at 58%, International margin improved by 4.9ppt but remained negative.

• Core NPAT rose over 90% to $20.8 million; statutory NPAT from continuing operations was $15.4 million.

• Free cash flow increased 25% to $40.2 million; net debt to EBITDA reduced from 2x to 1.4x.

• NPATA from continuing operations increased 33% to $40.3 million.

Outlook and guidance

• FY26 guidance upgraded: group EBITDA margin now 34–37% (was 32–35%), core NPAT $15–25 million (was $5–15 million), and capex reduced to $50–55 million.

• Second half expected to see seasonal revenue moderation and higher expenses, leading to lower margins but within 34–37% full-year guidance.

• Continued investment planned in Australian Exchange, UK lender onboarding, and modular platform build for UK market.

• International platform to explore new markets, including New Zealand.

• Disposition of Digital Solutions businesses expected to complete by end of FY26.