• FY25 Revenue of $286.8m increased by 7% vs. prior comparative period
• FY25 EBITDA pre-significant items of $30.9m increased by 42% vs. prior comparative period
• BSA Group is taking steps to mitigate operational and financial impacts from loss of nbn and smart metering contracts

BSA Limited today published its quarterly activities report, trading update and Appendix 4C statement of cashflows for the quarter ending 30 June 2025 (Q4 FY2025). The BSA Group delivered FY25 Revenue of $286.8m and EBITDA pre-significant items of $30.9m. FY25 Revenue increased by 7% vs. the prior comparative period (pcp), while EBITDA pre-significant items increased by 42% vs. pcp. Q4 FY2025 revenue was $64.5m, a decrease of 13% vs. pcp, however Q4 FY2025 EBITDA pre-significant items of $8.3m increased by 39% vs. pcp. FY2025 operating cashflow was $30.1m, and BSA's net cash position was $23.9m as at 30 June 2025, with $10.0m of undrawn banking facilities available. While BSA delivered excellent financial results for FY25, the business continues to face significant challenges due to the cessation of the nbn and smart metering contracts, which previously represented roughly 92% of BSA's revenue. BSA has incurred $8.3m in restructure costs, including $6.5m related to redundancies, and a $1.7m write-off of Right-Of-Use assets. The company's executive team and board are focused on maximizing the ongoing profitability of BSA's residual operations and rightsizing the company's overheads.

BSA is continuing to reset the business to match its go forward customer portfolio and assess its options going forward.