• Total group revenue of $8.6m in FY25, a 21% increase on pcp
• Enterprise revenue of $6.4m in FY25, increasing 31% on pcp
• Adjusted EBITDA improved $1.4m on pcp to ($2.9m) in FY25

Felix Group Holdings Ltd (ASX:FLX) released its Appendix 4E and audited annual report for the financial year FY25. In FY25, the company's group revenue reached $8.6m, a 21% increase on FY24, driven by strong sales momentum in Felix's enterprise procurement platform. The growth in enterprise revenue was supported by the signing of a record 23 expansion deals and 13 new customers, including Karara Mining Ltd, Bellevue Gold (ASX:BGL), as well as notable international contract wins. Vendor Marketplace subscription revenue remained stable in FY25. Enterprise revenue reached $6.4m in FY25, increasing 31% on the prior corresponding period, supported by record expansion deals and new customer wins, bringing total enterprise customers to 75. Enterprise gross margin remained stable at 76% in FY25. Operating costs in FY25 reflected disciplined cost management, with total operating expenses as a percentage of revenue declining to 116% from 144% in FY24. FY25 Adjusted EBITDA improved by $1.4m on the prior year to ($2.9m) in FY25, representing a 32% increase and demonstrating growing operating leverage. Felix's Vendor Marketplace continued to scale, reaching ~113k Vendors in FY25, increasing 11% on FY24. The company recorded positive net operating cash flows of $418k in FY25, a significant improvement from the ($3.3m) outflow recorded in FY24.

In FY26, Felix will continue to focus on driving domestic enterprise ARR growth, supported by Nexvia's organic growth and early traction in international markets. To support enterprise ARR growth, Felix will continue to leverage contract value expansion across the existing customer base, while driving conversion across the large and growing pipeline. International expansion will follow a capital-light approach, building on the early traction achieved in FY25. Gross margins are expected to remain strong as the combined platform scales and benefits from automation and infrastructure optimisation.