Trading Update - Positive Underlying EBITDA & FY26 Guidance
| Stock | Change Financial Ltd (CCA.ASX) |
|---|---|
| Release Time | 10 Jul 2025, 8:56 a.m. |
| Price Sensitive | Yes |
Change Financial Ltd Announces Positive Underlying EBITDA and FY26 Guidance
- Exceeded FY25 revenue guidance, up 42% on FY24
- Delivered maiden positive Underlying EBITDA in FY25
- Targeting FY26 revenue of US$16.5m to US$18.0m and Underlying EBITDA of US$2.5m to US$3.5m
- Expected to be net cash flow positive in FY26
Change Financial Ltd (ASX: CCA) has announced that it has materially exceeded its FY25 revenue target and is expected to deliver a maiden Underlying EBITDA positive result following completion of the FY25 audited accounts. The company delivered total FY25 revenue (unaudited) of US$15.1m (A$23.2m), up 42% on FY24 and materially exceeding previous guidance for FY25 of 'in excess of 30%'. Change also advises that it was net cash flow positive in Q4 FY25 driven by a significant increase in client invoicing and the meaningful reduction in US operations costs. In FY26, Change is targeting revenue in the range of US$16.5m (A$25.4m) to US$18.0m (A$27.7m) and a significant increase in Underlying EBITDA, which it expects to be in the range of US$2.5m (A$3.8m) to US$3.5m (A$5.4m). The company continues to see increased momentum in the growth of its sales pipeline and the speed at which clients are moving through the sales funnel. As Change continues to scale, the company expects continued EBITDA margin improvement on incremental client wins. The transition to cash flow positive marks a significant milestone in the company's lifecycle as the business hits an operating leverage inflection point.
In FY26, Change is targeting revenue in the range of US$16.5m (A$25.4m) to US$18.0m (A$27.7m) and a significant increase in Underlying EBITDA, which it expects to be in the range of US$2.5m (A$3.8m) to US$3.5m (A$5.4m).
Change continues to see increased momentum in the growth of its sales pipeline and the speed at which clients are moving through the sales funnel. As Change continues to scale, the company expects continued EBITDA margin improvement on incremental client wins. The transition to cash flow positive marks a significant milestone in the company's lifecycle as the business hits an operating leverage inflection point.