Daily Roundup

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Objective Corporation Delivers Strong SaaS Growth Amid Strategic Transitions

Objective Corporation wrapped up FY2026 with solid financial performance, posting a 9% revenue increase to $134.7 million and an 11% jump in adjusted EBITDA to $51.5 million. The real standout was SaaS revenue, which surged 22% as the company continues its shift toward subscription-based models—now representing 100% of software revenue. Net profit after tax climbed 5% to $37.2 million, and the company maintained a healthy balance sheet with no external borrowings while declaring 26 cents per share in dividends, up 18% from the prior year.

The company remains committed to innovation, plowing $33.8 million into R&D—30% of software revenue. However, there's a slight headwind: annualised recurring revenue dipped 2% to $117.3 million, partly due to the discontinuation of a heritage support contract with the National Heavy Vehicle Regulator that will reduce ARR by $3.2 million in FY2027. Looking ahead, management expects adjusted EBITDA of at least $40 million in FY2027 as it continues investing in its Information Intelligence platform and expanding into the Defence and National Security sector.

Austco Healthcare Hits Record Highs on Software Momentum

Austco Healthcare delivered record results for FY26, with revenue climbing 15.8% to $94.2 million and EBITDA rising 14% to $14.9 million. The standout performer was software and maintenance revenue, which grew 19% to $11.4 million, reflecting the company's successful pivot toward recurring revenue streams. Net profit after tax nearly doubled, surging 52% to $9.0 million, while gross margin improved to 53.4% from 52.0%.

The company sits on solid footing with $16.3 million in cash and no material borrowings. More impressively, unfilled contracted revenue reached $51.2 million—up 13%—signalling strong future revenue visibility. With operations spanning six countries and serving over 5,000 facilities, Austco is well-positioned for FY27, where management expects EBITDA to exceed $15 million.

Ai-Media Pivots to Recurring Revenue with 42% SaaS Growth

Ai-Media Technologies reported a strategic shift paying dividends in FY2026, with SaaS revenue jumping 42% to $34.1 million despite total revenue declining 7% to $60.2 million. The company deliberately wound down lower-margin legacy services to focus on its LEXI platform, which now spans text, audio description, and live dubbing capabilities. Annual recurring revenue surged 50% to $36 million, demonstrating the success of this transformation.

Technology revenue grew 9% to $44.8 million, now representing 74% of total revenue, while gross margin improved four percentage points to 73%. The company swung to adjusted EBITDA profitability of $2.1 million and ended the year with $15.9 million in cash and zero debt. Management plans to continue scaling the LEXI suite, converting its installed encoder base to new infrastructure, and commercialising LEXI Voice in FY27.

RAS Technology Accelerates Growth With Strategic Partnerships

RAS Technology Holdings posted a 34% revenue surge to $28.4 million in FY26, driven by expansion across all business segments. Annual recurring revenue climbed 8% to $23.5 million, though the company recorded a modest net loss of $0.3 million due to substantial investments in product development, trading capability, and Asian operations. Normalised EBITDA grew to $3.0 million, reflecting the underlying strength of the business.

The company strengthened its market position with new agreements from Tabcorp and the LeoVegas Group in the UK, while expanding its Asian footprint. Cash declined to $4.2 million from $5.7 million, but management views this as a timing issue rather than a concern. Moving forward, RAS plans to leverage AI and automation to drive product innovation, improve operational scalability, and expand its multilingual content offerings.

Change Financial Achieves Maiden Profit on PaaS Growth

Change Financial delivered a milestone moment in FY26, posting its maiden full-year profit of US$0.5 million on revenue of US$18.2 million, up 21% year-over-year. The PaaS platform proved to be the growth engine, with active cards doubling to over 150,000, while the company generated positive operating cash flow of US$1.5 million.

The fintech company is riding strong momentum into FY27, with new client wins particularly in Australia driving expectations for continued growth. Management targets a PaaS gross margin of 40-45% and expects to remain net cash flow positive. The company will also transition to AUD reporting from FY27, simplifying investor communications.