ASX Announcement - First Half 2026 Results
| Stock | Pexa Group Ltd (PXA.ASX) |
|---|---|
| Release Time | 27 Feb 2026, 8:16 a.m. |
| Price Sensitive | Yes |
PEXA reports strong First Half 2026 Results
- Record transaction volumes in Australia drive 10% revenue growth
- EBITDA margin expands to 39.9%, up 3.1 percentage points
- Continued progress in UK market with 15% increase in Sale & Purchase volumes
PEXA Group Limited (ASX: PXA) today announced its results for the six months ended 31 December 2025 (1H26). Group revenue increased 10% to $215.3m, driven by record transaction volumes in Australia and continued recovery in UK property markets. Operating expenses increased due to planned investment in UK platform capability and lender onboarding, partially offset by cost efficiency measures and right-sizing the Australian business. As a result, Group EBITDA rose 19% to $85.8m and Group EBITDA margin increased 3.1 percentage points to 39.9%. On the back of robust revenue and cost discipline, Group NPATA increased 33% to $40.3m, reflecting higher operating earnings. In Australia, the segment delivered strong revenue and margin growth, supported by record transaction volumes and financial optimisation initiatives. Transfer volumes increased 7% and refinance volumes increased 14%. In the UK, PEXA's International business delivered improved revenue performance as property markets continued to recover, with revenue up 8.4% on 1H25, or 3.6% on a constant currency basis. Sale & Purchase volumes increased 15% and remortgage volumes increased 24%. PEXA continued to strengthen its balance sheet, with net debt to EBITDA (LTM basis) reducing to 1.4x.
In FY26, PEXA expects Group Revenue of $395m to $415m, Group EBITDA margin of 34% to 37%, and Group Core NPAT from continuing operations of $15m to $25m. Group CAPEX is expected to be $50m to $55m, and International operating cash flow is expected to be ($59m) to ($63m).
In the second half of FY26, PEXA will focus on a successful market launch of its AML product, 'PEXA Clear', in advance of the 1 July 2026 compliance date. The company will continue to drive resilience and innovation in Australia, deliver the NatWest implementation and expand lender engagement in the UK, and maintain disciplined cost control and capital allocation to support sustainable long-term growth.