• Proven turnaround with record profitability and cash flow
• Enterprise momentum with new partnerships in insurance and IoT
• AI-native tech advantage, including world's first AI eSIM agent
• Large addressable market of $65B in marketing & rewards budgets

Flexiroam Ltd (ASX:FRX) has provided an investor presentation on its AI-powered global connectivity platform. The company has undergone a successful turnaround, achieving record profitability and cash flow in the first half of FY26. Key highlights include a shift to higher-margin recurring revenue, gross margin expansion, and a strengthened balance sheet. The company has also secured new enterprise partnerships with Generali Insurance and Dialog for IoT rollouts, demonstrating momentum in its B2B business. Flexiroam's AI-native technology, including the world's first AI eSIM agent, provides a competitive advantage by addressing key pain points in the eSIM adoption journey and enabling rapid integration for brand partners. The company sees a large addressable market of $65 billion in marketing and rewards budgets, as well as 6.3 billion annual customer moments where connectivity can be bundled. The presentation is led by returning CEO and founder Jefrey Ong, who holds a substantial stake in the company.

Flexiroam reported record high Underlying EBITDA of $2.0 million in the first half of FY26, up from -$1.0 million in the prior corresponding period. The company also achieved positive operating cash flow of $1.9 million, a turnaround from -$0.9 million in the prior period.