Tyro Payments (TYR) H1 2026 earnings summary

Executive summary

• Achieved strong top-line growth and higher profitability in H1 FY26, driven by increased payment volumes, enhanced banking products, and the acquisition of Thriday, an AI-powered SME financial management platform.

• Focused investment in integrated banking, product enhancements, and operational discipline improved customer value, retention, and efficiency, especially among SMEs.

• Launched new transaction account and lending products, further strengthening the integrated payments and banking proposition.

Financial highlights

• Core payment volumes (TTV) grew 5.6% year-over-year to $22.9bn, with payments gross profit up 6.0% to $104.1m.

• Gross profit (normalised) increased 5.0% to $117.6m; EBITDA rose 19.8% to $39.5m (margin 33.6%); statutory profit before tax surged 72.3% to $17.7m.

• Free cash flow increased 51.8% to $13.6m.

• Banking gross profit rose 5.4%, with account balances up 28% and loan originations up 19%.

• Net tangible assets per share increased to $0.24 from $0.16 a year earlier.

Outlook and guidance

• Reaffirmed FY26 guidance: gross profit between $230m–$240m and EBITDA margin of 28.5%–30%, assuming no material market deterioration.

• Second half to see higher OpEx due to salary increases, project/marketing spend, and AML compliance investment.

• Confident in full-year delivery despite increased second-half investment.