Key points
- First profitable year since listing with statutory NPAT of $0.7m
- Recurring revenue mix increased to 56% of total revenue
- Cash doubled to $3.5m without raising new capital
- Expanded partnerships with Mastercard, Tune Protect, Dragonpass, and others
- Exited unprofitable consumer channels
Full summary
Flexiroam Ltd (ASX: FRX) reported its FY26 full-year results, marking the first profitable year since listing with a statutory net profit after tax (NPAT) of $0.7 million. The company achieved positive operating cash flow of $2.7 million, which was positive in each quarter. The recurring revenue mix increased to 56% of total revenue, up from 39% in the previous year. The company exited unprofitable consumer channels and saw a 25% decrease in total revenue to $10.2 million. However, the balance sheet strengthened with cash more than doubling to $3.5 million, and net current assets turning positive for the first time since 2017. The company also expanded its partnerships, including reaching 418 banks with Mastercard and signing agreements with Tune Protect, Dragonpass, and others. The FY26 statutory financial information was audited, while non-IFRS measures such as underlying EBITDA and recurring revenue mix were unaudited.
Outlook
Flexiroam Ltd plans to continue focusing on its partner model, expanding into new verticals, and leveraging operating leverage to support further partner growth. The company expects contributions from new agreements to build progressively from FY27.