Daily Roundup

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Change Financial Ltd Reports Strong H1 Results, Upgrades FY26 Guidance

Change Financial Ltd has delivered a strong start to the year, with H1 FY26 revenue and EBITDA exceeding targets. The company reported unaudited H1 FY26 revenue of US$9.3m (A$13.9m), up 29% on the prior corresponding period, and Underlying EBITDA of US$1.8m (A$2.7m), a significant improvement on the US$0.5m (A$0.7m) Underlying EBITDA loss in H1 FY25.

Given this impressive performance, Change has upgraded its guidance for FY26. The company now expects revenue to be between US$17.5m (A$26.1m) to US$18.5m (A$27.6m), and Underlying EBITDA to be in the range of US$3.1m (A$4.6m) to US$3.8m (A$5.7m). This represents a 15% increase in the EBITDA guidance midpoint compared to previous forecasts.

Notably, Change also expects to be net cash flow positive for the full FY26 year, marking a significant milestone as the business hits an operating leverage inflection point. The company has made strategic investments in product, technology, and people to support its target of maintaining a revenue CAGR in excess of 20% over the medium to long-term.

XRF Scientific to Open Office in India, a Key Growth Market

XRF Scientific Ltd is expanding its global footprint, announcing the opening of a new international office in India. India has been identified as a key long-term market for growth, with demand expected to be driven by the country's sizable mining and industrial sectors.

As a market with a large installed base of XRF spectrometers, India presents an opportunity for XRF to drive adoption of its superior lithium borate fusion sample preparation technology. This is a trend already seen in more developed markets like Australia, Europe, and North America.

The new office, set to commence trading in February, will be led by experienced industry professional Sanjay Mitra. This move from a distributor to a direct presence is expected to improve customer confidence in XRF's long-term commitment to the Indian market and allow for additional resources to be deployed to grow sales.

AUB Group Announces Acquisition of Prestige, Equity Raising

In a significant move, AUB Group Limited has announced the acquisition of 95.9% of PIHL Holdings Limited (Prestige), a diversified insurance broking and underwriting platform in the UK. The AUD 432m (GBP 219m) acquisition will significantly expand AUB's scale and capability in the UK market, boosting its UK retail presence to around GBP 720m in gross written premiums.

To fund the acquisition, AUB is launching a fully underwritten AUD 400m institutional placement and a non-underwritten AUD 40m share purchase plan for eligible shareholders. The company has also secured an additional AUD 200m debt facility.

The acquisition and associated capital raising are expected to be earnings per share neutral pre-synergies and low to mid single digit accretive post synergies for the 2025 calendar year on a pro-forma basis.

Botanix Pharmaceuticals Reports Strong Sofdra Growth in Q2 FY26

Botanix Pharmaceuticals has delivered another quarter of impressive growth, with total Sofdra prescriptions shipped increasing 24% from the previous quarter to 25,351. This drove a 28% rise in Sofdra net revenue to $9.1m.

The company's operating cash outflow increased from $13.1m in Q1 to $17.2m in Q2, primarily due to the expansion of the sales force by 23 professionals and associated one-time start-up costs. However, Botanix maintains a healthy cash position of $31.5m and an undrawn debt facility of $14.9m to support its continued growth.

Market research indicates strong acceptance of Sofdra and SendRx by healthcare professionals, with 90% expecting to increase Sofdra prescribing volume in the next six months. Botanix is confident in the ongoing sales momentum and is working to reduce its cost of goods sold by engaging potential secondary API suppliers.

Pureprofile Upgrades FY26 Revenue Guidance After Record H1

Pureprofile Ltd has delivered another standout performance, reporting record H1 FY26 revenue of $33.3m, up 14% on the prior corresponding period. This marks the company's sixth consecutive half-year of double-digit revenue growth, reflecting a five-year compound annual growth rate of 23%.

A key milestone was reached, with Rest of World (ROW) revenue surpassing the company's Australia and New Zealand (ANZ) business for the first time. ROW revenue grew 30% to $16.8m, driven by strong demand in the UK and US, while ANZ revenue increased 2% to $16.5m.

Pureprofile's EBITDA also grew 14% to $3.8m, maintaining an 11% EBITDA margin despite ongoing investment in growth initiatives. The company's platform revenue surged 54% to $9.4m, highlighting the scalability of its technology-enabled model.

Reflecting this robust performance, Pureprofile has upgraded its FY26 revenue guidance to $64m-$65m, up from the previous range of $63m to $64m. The company has reaffirmed its EBITDA margin guidance of 10-11%.