• Strong EBITDA margin of 29.5% supported by gross profit growth and continued cost discipline
• Gross profit growth of 6.5% driven by payments revenue and improved banking returns
• Investing in key building blocks for future growth, including payments and health-adjacent verticals
• Robust balance sheet with high levels of capital and liquidity

Tyro Payments reported a solid H1 FY25 performance, with gross profit growth of 6.5% to $112.0 million and an EBITDA margin of 29.5%. The company's payments business saw 6.0% revenue growth, supported by higher payment margins, while banking revenue grew 9.1% due to increased lending and lower deposit costs. Tyro continued to invest in key building blocks for future growth, including developing new payment terminals and capabilities for unattended devices and health-adjacent verticals. The company's Tyro Health business maintained strong momentum, with a run-rate TTV of over $7 billion. Tyro also made progress on its banking proposition, with over 2,200 new active accounts and strong front-book adoption. The company maintained a robust balance sheet, with high levels of capital and liquidity. Overall, Tyro remains on track to deliver its FY25 guidance of gross profit between $218-226 million and an EBITDA margin of around 28%.

Tyro Payments is on track to deliver its FY25 guidance, which includes gross profit of $218-226 million (3-7% growth) and an EBITDA margin of around 28%.

Tyro Payments is well-positioned to deliver profitable growth, leveraging its scalable payments technology, targeted distribution channels, and integrated payments and banking proposition. The company sees opportunities to acquire new merchants and benefit from improvements in economic conditions and consumer spending. Tyro is also exploring strategic opportunities to deploy its surplus capital to build scale and create shareholder value.