• Q3 FY25 net operating cash flows improved by 21% on pcp
• Significant investment in additional resources to prepare workforce for multiple programs
• Increasing interest from partners, customers, and prospects due to pending industry changes

WRKR Ltd (ASX: WRK) announced its Quarterly Activity Report and Appendix 4C (Quarterly Cash Flow report) for the quarter ending 31 March 2025. Key highlights include a 21% improvement in Q3 FY25 net operating cash flows compared to the prior corresponding period, driven by the receipt of the FY24 R&D return and a reduction in operating expenses despite increased investment in new resources. The company continues to focus on carefully managing costs while adequately funding key areas of the business to deliver its strategy over the next 12-18 months. WRKR has significantly increased its internal talent to prepare the workforce for multiple concurrent programs while maintaining ongoing development and security standards. With the Payday Super draft legislation now out for final feedback and the pending election, WRKR has seen a significant increase in focus from partners, customers, and prospects, particularly around the capabilities required to support small businesses in Australia with the pending closure of the ATO Small Business Clearing House in 2026. WRKR is well-positioned to increase its organic users on the core WRKR platform from late 2025 to June 2026 and is collaborating closely with industry partners to navigate the shifting regulatory landscape. The company continues to hold adequate capital to deliver on its current growth objectives and licence requirements.

Growth in WRKR's FY25 revenue, when compared to FY24, primarily depends on implementation fees from the Super Funds. The company may also need to determine if any provision for credit losses is required following a reconciliation of historical payments, which may impact EBITDA results for FY 2025.

WRKR is well-positioned to scale up as required to execute on its sales pipeline, with a focus on enhancing member and employer engagement and security through its API-based solution for payrolls. The company expects greater urgency in commercial decision-making post the upcoming election.