• Revenue of $10.2m, with 58% growth in new platform revenue
• Positive EBITDA of $1.3m, with 904% growth in adjusted EBITDA
• New platform ARR grew 27% to $9.2m, now 54% of total Group ARR
• Operating expenses reduced by 14% driven by AI-powered efficiencies

Xref Limited (ASX:XF1) has released its interim financial results for the half-year ended 31 December 2025 (H1 FY26). The period was defined by the successful completion of Xref's transition from a credit-based point solution to a SaaS-based 'Employer Intelligence Platform'. Key highlights include: revenue of $10.2m with 58% growth in new platform revenue, positive EBITDA of $1.3m with a 904% increase in adjusted EBITDA, new platform ARR growth of 27% to $9.2m (now 54% of total Group ARR), and a 14% reduction in operating expenses driven by AI-powered efficiencies. Xref has intentionally transitioned away from low-quality, 'seasonal' transactional revenue in favor of multi-year SaaS contracts, ensuring a more predictable revenue base. The company has also expanded its platform to capture the full employee lifecycle, with significant growth in user engagement, feature adoption, and renewals. Xref's proprietary data lake and API infrastructure provide a competitive advantage, allowing third-party platforms to access verified, real-world data and insights.

The company expects further reductions in second-half operating expenses following a restructure in February 2026.

Xref remains focused on advancing its 'hire-to-retire' platform, driving deep adoption of its expanded product suite, accelerating client acquisition, and targeting further API partnerships to enrich candidate profiles.