Qoria (QOR) Q3 2026 earnings summary

Executive summary

• Announced a merger with Aura, increasing the equity placement to $100 million (US$100m), fully supported by existing shareholders and insiders, to fund AI, growth, and integration initiatives, ensuring a strong balance sheet post-merger.

• Leadership structure finalized with Hari Ravichandran as CEO and a combined board, maintaining key executives to drive integration and growth.

• Aura founders committed an additional $25 million, reinforcing confidence in the combined entity's mission and growth prospects.

• Aura Alpha division established to focus on strategic growth initiatives, partnerships, and corporate development.

• Net cash used in operating activities was $4.7 million for the quarter ended 31 March 2026, with receipts from customers totaling $23.3 million.

Financial highlights

• Combined group achieved AUD 345 million in ARR, with Qoria and Aura both delivering record growth in the March quarter.

• Qoria's ARR growth was 49% higher than the same quarter last year, with standout performance in the U.K. K-12 segment (over 60% PCP improvement); exit ARR at AUD 151 million (AUD 164 million constant currency).

• Aura added $26 million in recurring revenue in the quarter, up 40% versus the prior period, with improved AOV and CAC; exit ARR at US$241.5 million, up 31% YoY.

• Qustodio more than doubled ARR to AUD 2.7 million year-over-year, with consumer ARR growing at 34% annualized.

• Qoria’s cash receipts for the quarter were AUD 23 million, up 4% PCP, despite FX headwinds.

Outlook and guidance

• Combined entity expects to be free cash flow positive from closing through the end of 2026, with free cash flow positive status anticipated from July 2026 based on current forecasts.

• Targeting 20% year-over-year ARR growth on a combined basis, with FY2026 guidance reaffirmed for revenue above AUD 145 million and adjusted EBITDA margin around 20%.

• June quarter is expected to be the largest period of growth, with a strong pipeline and historical seasonality favoring this period.

• Cash flows expected to improve in the June 2026 quarter and beyond due to the northern hemisphere selling season.