Highlights

  • New-platform Revenue rose 48% year on year to AUD 2.7 mn in the first quarter of FY27.
  • The Trust Marketplace processed 223% more checks than in the comparable quarter a year earlier.
  • Xref.me surpassed 80,000 candidate profiles in October after its May 2026 launch.
  • The Business recorded AUD 4.7 mn revenue and AUD 0.6 mn EBITDA during the September quarter.

A broader set of employment screening and career-management products is shaping the latest business update from Xref (ASX:XF1). The company reported AUD 4.7 mn in unaudited revenue for the September 2026 quarter and AUD 0.6 mn in EBITDA. Its newer platform generated AUD 2.7 mn, an increase of 48% from the corresponding period, as the business continued developing a service offering covering different stages of the employment relationship.

Verification Products Gain Usage

Trust Marketplace checks increased 223% compared with the first quarter of FY26. The company expanded its catalogue to include criminal checks, with additional verification services scheduled for introduction. The increased activity is distinct from the growth recorded in revenue: transaction usage shows how customers are interacting with verification products, while revenue measures the financial contribution recognised during the quarter. Xref also relaunched its public application programming interface, enabling a broader set of checks to be ordered through integrated HR systems.

Candidate Profiles Become Part Of Employer Workflows

Xref.me reached 80,000 candidate profiles in October, following the product’s launch in May. Xref added a native connection between Xref.me and its employer platform, allowing organisations to move pre-verified candidate records into recruitment processes. The company also released 360Me, an employee feedback product intended for use during employment rather than only at the recruitment stage. Together these changes extend the product range beyond reference checking and into ongoing workforce management.

New Clients And Balance Sheet Measures

The company secured AUD 300,000 in new business across 52 clients during the quarter. Named wins included Macquarie University, Akamai Technologies and Aon. It also reported that 30% of reference requests were initiated through integration partners. A Commonwealth Bank refinancing completed after the June year-end resulted in an AUD 5.6 mn drawdown under a larger agreed facility, while the business received an AUD 2.0 mn FY26 Research and Development tax incentive in October.

Outlook Centres On Customer Adoption

Xref intends to increase Marketing directed at new client Acquisition and broader use of its newer platform services. Its integration partners are expected to update connections to support ordering of additional Trust Marketplace checks. Management is also pursuing the extension of its verification and employee feedback functions. The planned features and integrations remain future activities, while the September-quarter earnings, client wins and October profile count are completed milestones.

Stock Price Information

Xref shares traded at AUD 0.039 on 10 November 2026, up 11.43%. The company had a Market Capitalisation of AUD 8.58 mn.