Solution Dynamics (SDL) AGM 2026 summary

Opening remarks and agenda

• Agenda covered the FY 2026 review, NZ mailhouse operations, dental software strategy, FY 2027 outlook, resolutions, general business and questions.

Financial performance review

• FY 2026 revenue was NZD 31.415m, down 24.0%; Digital Print & Outsourced revenue rose 4.1%, while Software & Technology fell 44.0%.

• Gross profit fell 39.5% to NZD 8.636m and gross margin declined to 27.5% from 34.6%; EBITDA fell 74.5% to NZD 1.133m, with a 3.6% margin.

• Net profit after tax was NZD 382k, down 85.4%; EPS was 2.7 cents, down 84.9%. The year included NZD 500,000 in pretax nGAGE launch costs, while SG&A fell 24%.

• A major customer RFP contract loss drove the decline; domestic mailhouse revenue rose 4% despite mail lodgements falling 11%, due to higher low-margin postage revenue. U.S. digital click volumes rose 19%.

• FY 2026 closed with NZD 7.7m net cash after NZD 1.3m spent replacing end-of-life servers; normalised cash was stated at NZD 7–8m.

Board and executive committee updates

• Susie Watts became CEO on 1 January 2026 and was confirmed as permanent CEO, citing her IT and software-sector experience and focus on revenue, margins and cost agility.

• Patrick Brand resigned as CEO and joined the Board on 1 January 2026, bringing North American relationships and international product, product-management and go-to-market experience.

• John McMahon offered himself for re-election, citing his 11% ownership and confidence in the product and international growth strategy.