BTI Results Announcement FY25

• Net profit after tax of $19.3m
• 7.8% portfolio return after all fees and tax
• Final dividend of 3.6 cents per share fully-franked
• NTA per share (post-tax) up $0.05 to $1.64

Bailador Technology Investments Limited (BTI) has released its audited financial results for the year ending 30 June 2025 (FY25). Key highlights include a net profit after tax of $19.3m, a 7.8% portfolio return after all fees and tax, and a final dividend of 3.6 cents per share fully-franked, representing an annualized grossed-up yield of 8.1%. The company's Net Tangible Asset (NTA) per share (post-tax) increased by $0.05 over the prior year to $1.64, or $0.12 after adding back dividends paid. BTI deployed and committed $40.8m in capital during the year, including investments in two new portfolio companies, PropHero and Hapana. The company also realized $20m in cash through a partial sale of its SiteMinder investment. BTI's portfolio of fast-growing technology companies has a strong financial profile, with around 65% gross margins, 87% recurring revenue, and 47% revenue growth. The company's largest private investments, DASH and Updoc, were standout performers, delivering a 33% gross return for the portfolio in FY25. Looking ahead, BTI's portfolio valuation remains conservative compared to market multiples, and the company is well-positioned to continue its track record of realizing investments above their carrying values.

BTI's portfolio companies generated $592m in revenue over the 12 months to 30 June 2025, with an average gross margin of around 65% and 47% revenue growth.

Bailador has a strong history of being conservative in its approach to valuations and realizing investments above their carrying values. As the fund moves into another cycle of realisations, the company will be working hard to continue this track record.