• Continued execution on transformation to scalable Mobility-as-a-Service (MaaS) and SaaS mobility platform
• Strategic alliance with Xoomplay did not progress to final commercial arrangement
• Focused on prudent capital management, reducing operating expenditure

Jayride Group Limited (ASX: JAY) provided a quarterly update for the period ended 31 March 2026, detailing its continued execution on the transformation from an airport-transfer aggregator into a scalable Mobility-as-a-Service (MaaS) and SaaS mobility platform. The company made meaningful progress across capital management, technology delivery, and regional partnerships during the quarter. Jayride advanced the rollout of its SaaS mobility platform across Australia, New Zealand, the Pacific, and Southeast Asia, enabling transport operators and enterprise clients to deploy white-label booking, payments, and fleet-management modules. The company continues to operate its aggregator marketplace within refined, high-margin corridors, focusing on profitable segments and maintaining strict credit and partner-exposure controls.The company also announced that it did not progress further to a final, binding commercial arrangement with Xoomplay, resulting in no monetisation, and the parties have ceased further discussions.Financially, the company reported operating cash outflows of $322,000 for the quarter, showing continued efforts to reduce operating expenditure. Jayride closed the period with $15,000 in cash at bank.Looking ahead, Jayride enters the next calendar quarter with a new and improved SaaS platform, streamlined cost base, and expanding commercial pipeline. The board remains confident that the company's hybrid model combining recurring-revenue SaaS contracts with a disciplined aggregator footprint positions Jayride to deliver scalable growth, improved margins, and sustainable long-term shareholder value.

The company will implement a stable creditor repayment plan to address the outstanding transportation partner obligations. The recapitalisation of the company forms a central component of Jayride's reinstatement to quotation process, allowing for a significantly strengthened balance sheet, providing growth capital for platform development, creditor management, and market expansion.

Jayride enters the next calendar quarter with a new and improved SaaS platform, streamlined cost base, and expanding commercial pipeline. The board remains confident that the company's hybrid model combining recurring-revenue SaaS contracts with a disciplined aggregator footprint positions Jayride to deliver scalable growth, improved margins, and sustainable long-term shareholder value.