• Continued progress in innovating payment solutions and expanding partnerships
• Strong increase in adoption of banking solutions, demonstrating value of integrated payments and banking
• Gross profit up 6.5% to $112.0 million, EBITDA up 20.6% to $33.0 million

In the first six months of FY25, Tyro Payments continued to make progress in innovating its payment solutions, expanding its network of valued partnerships, and further developing the key building blocks of future growth. The company saw positive momentum in the adoption of its banking solutions, which is a great demonstration that its integrated payments and banking proposition is highly valued by Australia's SMEs. Gross profit for the period increased 6.5% to $112.0 million, performing in-line with the company's FY25 guidance. EBITDA increased by 20.6% to $33.0 million, representing an EBITDA margin of 29.5%. Tyro's statutory profit before tax increased by 99.6% to $10.3 million. The company has sufficient liquidity in place to continue to fund its growth strategy, with total cash and financial investments of $155.4 million. Tyro is fully compliant with the prudential capital requirements prescribed by APRA and has sufficient capital to fund ongoing operations, with a total capital ratio of 73%.

Tyro expects gross profit between $218 million and $226 million in FY25, representing growth of between 3% and 7% compared with FY24.

Tyro is increasingly confident in pursuing integrated payments and banking, and through a new partnership, the company can accelerate the delivery of banking products to support more merchants.