StepChange Holdings Limited (ASX:STH) Reports September Revenue Growth as AI and Cyber Capabilities Expand

Aditi Sarkar

11 November 2026 02:52 PM AEDT

StepChange Holdings Limited (ASX:STH) Reports September Revenue Growth as AI and Cyber Capabilities Expand

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

StepChange reported September-quarter Revenue of AUD 16.8 mn, increasing 34% against the prior corresponding period.
Underlying EBITDA reached AUD 1.40 mn, up 44% year on year, according to its October update.
The company continued developing AI and cyber capabilities and expanding its internal AI methods library.
StepChange published maiden FY26 full-year results on 28 August 2026.

StepChange Holdings Limited (ASX:STH) is building on its first full-year financial reporting with a September-quarter update showing higher revenue and underlying earnings. Alongside the figures, management has discussed work to develop AI methods, cyber-security capabilities and its Australian and international service operations.

September Quarter Shows Higher Reported Activity

StepChange’s 20 October 2026 quarterly update reported unaudited revenue of AUD 16.8 mn for the three months to 30 September. The figure represented 34% growth from the corresponding period.

Underlying EBITDA increased 44% to AUD 1.40 mn. The company attributed progress to organic growth in the existing Business and contribution from the Broadreach Group, acquired in January 2026. The figures are unaudited and refer specifically to the September quarter.

AI Methods Become Part of Service Delivery

The company stated that it expanded its AI Method Library to 130 industry methods and rolled out the collection internally. The approach is intended to support repeatable applications of AI within client work.

StepChange also identified the development of cyber-security capabilities as an operational priority. The areas sit alongside its broader advisory and technology-related services, where commercial delivery depends on customer engagements rather than product licensing alone.

Maiden Full-Year Results Set an Earlier Baseline

StepChange published FY26 financial results and an investor presentation on 28 August 2026. Those disclosures provide the completed-year comparison for the company’s more recent September-quarter performance.

The two periods should be considered separately. The full-year report describes results through June 2026, whereas the October quarterly announcement concerns the new financial year. The disclosed Acquisition contribution also matters when distinguishing organic development from growth associated with an acquired business.

Service Expansion Remains on the Agenda

Management has indicated continued development of AI and cyber capabilities, along with work across its operating businesses. The expansion of the internal methods library reflects practical Investment in how teams deliver work to customers.

Future updates will show whether this activity translates into continued growth and sustainable earnings. The company’s stated focus is on service execution and capability development, while contract wins and financial performance remain dependent on customer demand.

Outlook and Share Price

StepChange shares were quoted at AUD 0.11 on 11 November 2026, unchanged, with a Market Capitalisation of approximately AUD 18.08 mn.

FAQs

Q: What was StepChange’s September-quarter revenue?

A: AUD 16.8 mn, up 34% year on year.

Q: What was underlying EBITDA?

A: AUD 1.40 mn for the quarter.

Q: What capabilities is the company developing?

A: AI methods and cyber-security services.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.