• Revenue of $108.4m (-6% on 1H25)
• Group underlying EBITDA of $28.0m (-16% on 1H25)
• Statutory NPAT of ($4.0m) down from $9.5m PCP
• Cash balance down $11.5m to $47.8m over the half
• New program pipeline currently at $102m, with new programs won of ~$24m

EML Payments Ltd has released its 1HFY26 results, reporting revenue of $108.4 million, down 6% on the prior corresponding period. Group underlying EBITDA declined 16% to $28.0 million, while statutory NPAT was a loss of $4.0 million, down from a profit of $9.5 million in the prior period. The company's cash balance decreased by $11.5 million to $47.8 million, driven by a class action provisional settlement payment, an intercompany loan payment, and capital expenditure on Project Arlo. Despite the financial headwinds, EML's new program pipeline currently stands at $102 million, with $24 million in new programs won. The company is progressing with its EML 2.0 restructuring plan, which is expected to be completed by 30 June 2026. EML has also tightened its FY26 underlying EBITDA guidance to $58-$60 million, down from the previous range of $58-$64 million.

FY26 underlying EBITDA guidance tightened to $58-$60m from $58-$64m

The company is on track to complete a significant body of work in FY26 focused on restructuring, strengthening management capability and embedding a one-EML operating ethos and toolkit. The change across the business has been profound and the company is starting to see the green shoots of its endeavors in both commercial outcomes and operational effectiveness and efficiency, which will progressively benefit the cost base.