Wrkr (WRK) Q4 2026 earnings summary

Executive summary

• Achieved record cash receipts of AUD 18.2 million for FY26, nearly doubling from the prior year, driven by onboarding major superannuation funds and successful implementation projects.

• Over 34,000 new organisations registered and more than $1 billion in contributions processed between May and June 2026, with six major fund clients, including AustralianSuper and Rest, going live ahead of Payday Super.

• Platform transitioned from proving operational capability to executing at scale, with strong demand and operational build-out to support increased volume.

• Regtech platform focused on compliance solutions for superannuation, payroll, and credentials, with a unified platform approach and a strong contracted pipeline converting to recurring revenue.

• Strategic AUD 10 million capital raise completed to strengthen negotiating position, support growth, and fund ongoing product development and integration.

Financial highlights

• Q4 FY26 cash receipts totaled $6.7m, up from $4.3m in Q3, resulting in a neutral or positive operating cash position.

• Full-year negative operating profit/EBITDA of approximately ($6m), reflecting heavy investment in platform development and customer onboarding.

• Capital investment totaled AUD 8 million for the year, focused on platform enhancements and security.

• PaidRight acquisition contributed a negative EBITDA of ($0.5m) post-acquisition.

• Cash and cash equivalents at 30 June 2026: $10.2m.

Outlook and guidance

• Revenue guidance for FY27 set at ~$24m, with potential to reach ~$37m depending on onboarding pace.

• Transaction and SaaS-based revenue expected to scale through December 2026 as more employers transition and billing aligns with live volume.

• Gross margin targeted at 80%, consistent with SaaS industry standards.

• EBITDA positive expected for the year, factoring in capitalization.

• Anticipates phased adoption curve for mid-market and small business segments, with platform ready to capture incoming volume.