• Group revenue up 9% to $10.9m
• Net loss reduced by 89% to $436k
• EBITDA profit of $1.6m vs $2.1m loss in prior period

Xref Ltd has reported its financial results for the half-year ended 31 December 2024, with revenue increasing 9% to $10.9m and net loss decreasing 89% to $435,739. The company's EBITDA profit was $1.6m, compared to a $2.1m loss in the prior corresponding period. Key operating results for H1 FY25 included a 9% increase in group revenue to $10.9m, a net loss of $436k, cash collections of $11.8m, and a cash balance of $3.3m at 31 December 2024. The company's annual recurring revenue (ARR) grew 24.2% to $18.5m at 31 December 2024, up from $14.9m at 30 June 2024 and $10.5m at 31 December 2023. Xref remains focused on advancing its hire-to-retire platform, driving SaaS growth, expanding self-sign-on capabilities, enhancing talent pooling, further automating engagement surveys, continuing to focus on cost efficiencies and maximizing recurring revenue, and building a pathway to sustainable and growing profit.

The company remains focused on advancing its hire-to-retire platform, offering industry-leading reference checks, a comprehensive marketplace for background checks, and innovative tools to enhance employee engagement and talent pooling. Key priorities include driving SaaS growth, expanding self-sign-on capabilities, enhancing talent pooling, further automating engagement surveys, continuing focus on cost efficiencies and maximizing recurring revenue, and building a pathway to sustainable and growing profit.