PEXA Group (PXA) Q1 2027 earnings summary

Executive summary

• Australian Exchange volumes fell 11.5% YoY to 934k amid weaker property activity; national penetration held at 90% and customer satisfaction remained broadly stable.

• FY27 guidance was reduced for revenue, EBITDA margin and core NPAT as lower transfer volumes weigh on expected results.

Financial highlights

• Updated FY27 Group revenue guidance is $355m–$380m, versus prior guidance of $385m–$415m.

• Updated FY27 Group EBITDA margin guidance is 29.0%–31.5%, versus 31.5%–33.5% previously.

• Updated FY27 core NPAT guidance is a loss of $6m to profit of $6m, versus prior guidance of $5m–$20m; core results are adjusted for significant non-recurring items.

Outlook and guidance

• FY27 Group capex guidance is $45m–$50m, narrowed from $45m–$55m; international operating cash flow guidance remains an outflow of $55m–$65m.

• First NatWest Sale and Purchase transaction is expected by the end of March 2027, following implementation work that commenced in 1Q27.