Our audited results for FY26 show underlying EBITDA of A$4.7m, up 76% on FY25. Group Annual Recurring Revenue reached A$15.7m, with more than 71% of that, A$11.2m, now coming from our New Platform. Cash on hand at 30 June 2026 stood at A$2.3m.

The other significant development is a refinancing of our debt with the Commonwealth Bank of Australia, completed after year end. We repaid the outstanding balance owed to Element SaaS Finance and replaced it with a A$6.3m senior facility with CBA maturing in August 2029, with no principal repayments due until August 2028. We've also put in place a A$2.0m working capital overdraft, reviewed annually. Both facilities carry variable interest rates, and the arrangement is subject to customary financial covenants around leverage and cash flow cover.

The practical effect is a meaningful reduction in what we pay out each year to service debt. We expect the annual finance outflow on the term facility to fall from A$2.7m in FY26 to an estimated A$0.5m, interest only, through FY27. That frees up cash to support the business as it grows.

Because the refinancing happened after 30 June 2026, our FY26 financial statements reflect the borrowing terms as they stood at year end, with the full detail set out in Note 32.

As CEO Lee Seymour put it, this combination of ARR growth, positive EBITDA and a stronger balance sheet reflects the leverage building in our platform, and the refinancing gives us more room to keep driving profitable growth.

If you have questions about this announcement, we'd encourage you to send them through the question box on this page.