Key Highlights

  • Underlying EBITDA increased 26% to $19.5 million, up from $15.5 million in FY25
  • Statutory net profit after tax rose to $9.9 million from $0.2 million in FY25, while underlying net profit after tax increased 54% to $13.1 million
  • Revenue and other income increased 3.5%, or $3.8 million, to $112.9 million
  • The board declared a final partially Franked Dividend of 3.52 cents per share, to be paid from the profit reserve

3P Learning Limited (ASX:3PL) reported underlying EBITDA of $19.5 million for FY26, an increase of 26% on the $15.5 million recorded in FY25. Underlying net profit after tax rose 54% to $13.1 million from $8.5 million. Statutory net profit after tax increased to $9.9 million from $0.2 million in the prior year, a result the company said reflected proforma items including purchase price accounting amortisation, restructuring charges and legacy distributor costs in FY25, compared with $3.2 million in after-tax proforma items in FY26, comprising $5.7 million of purchase price accounting Amortisation and $1.6 million of restructure costs, partly offset by recognition of a $4.7 million Digital Games Tax Offset relating to FY25.

Revenue Performance

Revenue and other income increased 3.5%, or $3.8 million, to $112.9 million. The current year figure included $8.6 million of Digital Games Tax Offset other income relating to eligible claims for both FY25 and FY26, while underlying EBITDA included $3.9 million from the offset relating specifically to FY26 claims. CEO Jose Palmero said FY26 represented a year of transition from product Investment to commercial execution, noting that the company faced market challenges particularly in its B2B channel and, to a lesser extent, in B2C amid softer consumer spending, which it addressed through disciplined cost management and the use of artificial intelligence to improve productivity.

Balance Sheet and Cash Position

Net cash increased by $4.1 million to $15.7 million at 30 June 2026, up 35% from $11.6 million in the prior year, comprising cash and cash equivalents, restricted cash and term deposits. Underlying Cash Flow from operations before tax was $11.0 million for the year.

Dividend

The board declared a final partially franked dividend of 3.52 cents per share, totalling $9,598,000 in aggregate, to be paid from the company's profit reserve. The dividend carries franking of 0.12 cents per share, with an ex-dividend date of 28 August 2026, a Record Date of 31 August 2026, and payment scheduled for 21 September 2026.

Outlook for FY27

Executive Chairman Matthew Sandblom said the company holds no debt, has resumed paying dividends, and is deriving increasing value from artificial intelligence tools across the business, alongside growth opportunities that were not present twelve months earlier. He noted that, due to delayed Revenue recognition, shareholders may not see substantial revenue growth in the first half of FY27, with the company expecting greater momentum in the second half of the year.

Conclusion

3P Learning's FY26 results showed growth in underlying earnings, profit and cash generation, supported by cost discipline and productivity initiatives introduced in response to softer conditions in its B2B and B2C markets. The substantial increase in statutory net profit after tax reflected a reduction in one-off and proforma items compared with the prior year, alongside recognition of a government tax offset. Management has flagged that revenue growth may be limited in the first half of FY27 due to delayed revenue recognition, with more meaningful momentum expected in the second half.