Viva Leisure (VVA) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 was $116.5 million, up 17.6% year-over-year, marking the eighth consecutive half of organic revenue growth with no acquisitions.

• Statutory NPAT increased 168% to $5.2 million; underlying NPAT up 46.8% to $8.1 million.

• Adjusted free cash flow rose 25% to $19.9 million; operating cash flows up 34% to $42.2 million.

• Technology, Payments, Licensing & Retail (TPLR) segment revenue grew 45% year-over-year to $9.3 million, now 8.1% of group revenue.

• Membership reached 656,043, with over 7,000 organic additions in the half and 13,000 net new members since 31 Dec 2025.

Financial highlights

• Underlying EBITDA up 20.8% to $25.4 million; EBITDA margin expanded to 21.8% from 21.2% year-over-year.

• Statutory EPS rose 173.8% to 5.32 cents; underlying EPS up 50.1% to 8.26 cents.

• Senior debt reduced by $2.6 million to ~$97.9 million; net leverage at 1.7x.

• Adjusted free cash flow conversion strong at $19.9 million, up 24.9% year-over-year.

• Cash at bank at period end was $18.2 million, up from $12.9 million at 30 June 2025.

Outlook and guidance

• FY2026 guidance: revenue above $237 million, statutory NPAT above $11.5 million, underlying NPAT above $16 million (over 20% above consensus), and statutory EBITDA above $53 million.

• TPLR revenue targeted to exceed $28 million by FY2027, with continued 40%+ annual growth.

• Approximately 50 new franchise territories committed for development over the next 12–18 months.

• Share buyback program of up to 10% of issued shares to recommence.