Highlights

  • Findi recorded 1H26 operating revenue of AUD 46.4 million, reflecting 51% growth year-on-year.
  • Underlying EBITDA reached AUD 8.2 million, excluding non-recurring integration-related items.
  • FY26 revenue guidance of AUD 100–105 million and EBITDA guidance were reaffirmed.

Findi Limited (ASX:FND) released its financial results for the half year ended 30 September 2025, reporting operating revenue of AUD 46.4 million, compared with AUD 30.7 million in the corresponding period last year. The increase followed the completion and integration of the BankIT and TPCSL acquisitions.

The Company now operates a hybrid financial services network covering more than 175,000 ATM and payment locations across all Indian states and territories. Digital revenue contributed close to one-third of total group revenue during the period, supported by growth in transaction volumes and customer adoption.

Earnings Impacted by Non-Recurring Items
Operating EBITDA for the half year was reported at (AUD 1.0 million), reflecting the impact of approximately AUD 9.2 million in non-recurring items. These included delayed funding for ATM roll-outs, additional direct cost provisions, and one-off termination and legal expenses.

After adjusting for these items, underlying EBITDA was AUD 8.2 million, compared with AUD 12.3 million operating EBITDA in 1H25. Management indicated that the non-recurring costs were linked primarily to acquisition integration and fleet remediation activities undertaken during the period.

Network Expansion and Digital Scaling
During 1H26, the TPCSL acquisition increased ATMs under management by more than 4,500 units, with a further 6,750 warehoused ATMs available for future monetisation. Remedial integration work on the acquired fleet temporarily delayed revenue but was completed during the half.

The BankIT acquisition contributed to digital scaling, with the platform reporting annualised gross transaction value of approximately AUD 5.1 billion. The Company continued to shift emphasis toward capital-light White Label ATM (WLA) expansion, reducing reliance on Brown Label ATM (BLA) growth.

Between 15 September and 31 October 2025, Findi recorded 1,123 WLA franchise sales, including an initial 100-unit commitment from a new channel partner within a broader 1,000-unit portfolio.

Balance Sheet and Subsequent Developments
As at 30 September 2025, Findi held AUD 66.4 million in cash and cash equivalents, including AUD 37.2 million classified as current. Subsequent to the reporting period, the Company secured non-binding commitments for an initial AUD 30 million note facility, replacing existing notes and providing scalable capacity up to AUD 100 million. When scaled, the facility may allow the release of up to AUD 40 million of restricted cash from TSI India.

Findi also completed the acquisition of Sphere, adding loyalty, rewards and ESG technology capabilities across its digital and ATM platforms.

FY26 Guidance Maintained
The Company reaffirmed FY26 guidance for operating revenue of AUD 100–105 million and operating EBITDA of AUD 10–12 million, or underlying EBITDA of AUD 18–20 million excluding non-recurring items. Revenue and EBITDA are expected to remain weighted toward the second half of the financial year following the completion of integration activities.

Share Price Snapshot
FND was trading 3.33% higher at AUD 1.550 per share as of 28 November 2025.