• Customer receipts of US$4.0m (A$6.2m), up 16% on prior corresponding period
• Q1 FY26 revenue of US$4.6m (A$7.1m), up 25% on prior corresponding period - record revenue quarter
• Positive net cash flow from operating activities of US$0.2m (A$0.3m) in Q1 FY26

Change Financial Limited (ASX: CCA) has released an update on the company's business activities for the quarter ended 30 September 2025 (Q1 FY26), along with the Appendix 4C cash flow report. The company delivered a strong performance, with customer receipts of US$4.0m (A$6.2m), up 16% on the prior corresponding period (pcp). Q1 FY26 revenue reached a record US$4.6m (A$7.1m), up 25% on pcp, driven by increasing PaaS revenue and continued one-off licence sales and professional services revenue. Approximately 70% of Q1 FY26 revenue was derived from recurring income streams, including Support & Maintenance and PaaS transaction fees. The company also reported positive net cash flow from operating activities of US$0.2m (A$0.3m) in Q1 FY26. Change Financial sold several new Vertexon and PaySim licences during the quarter, while also signing 5 new projects across both Vertexon and PaySim, representing approximately US$0.9m (A$1.4m) in new project work. The number of active cards on Change's Vertexon PaaS platform increased to 89,000+, up 22% quarter-on-quarter and 48% on pcp. The company's cash position at the end of the quarter was US$3.7m (A$5.7m), with an additional US$0.9m (A$1.4m) held in cash-backed security guarantees.

Change expects revenue in FY26 to be in the range of US$16.5m (A$25.4m) to US$18.0m (A$27.7m) and Underlying EBITDA in the range of US$2.5m (A$3.8m) to US$3.5m (A$5.4m). The company also expects to be net cash flow positive for FY26.

Change remains focused on building the sales pipeline, winning new deals, particularly in Oceania and SE Asia, and driving operational efficiencies to deliver top and bottom-line growth over the coming years.