Key Highlights

  • Bailador Technology Investments (ASX:BTI) reported FY26 net profit after tax of $6.9 million and a 2.8% portfolio return after fees and tax.
  • The company declared a fully franked final Dividend of 3.5 cents per share, with an annualised grossed-up Yield of 9.5% based on its stated methodology.
  • Bailador deployed $7.6 million into existing portfolio companies during FY26 and realised $25 million from a partial sale of its SiteMinder investment.
  • Portfolio companies generated approximately $735 million of revenue, with recurring Revenue representing about 82% and revenue growth of approximately 32%.

Bailador Technology Investments (ASX:BTI) reported audited FY26 results showing net profit after tax of $6.9 million and a portfolio return of 2.8% after fees and tax.

The result came during a difficult period for listed technology companies, with Bailador noting that the ASX Information Technology 200 index declined 37% during the year. Against that backdrop, the Investment portfolio generated a positive return while the company continued its dividend distribution policy.

Post-tax net tangible assets per share increased by $0.06 over the prior year after accounting for dividends and the Dividend reinvestment plan. Bailador’s portfolio companies recorded approximately $735 million in revenue over the 12 months to 30 June 2026.

Dividend Maintains Fully Franked Structure

Bailador declared a final dividend of 3.5 cents per share, fully franked. Based on the company’s stated calculation and its 12 August 2026 closing share price, the dividend represents an annualised yield of 6.7%, or 9.5% when grossed up for franking credits.

The distribution forms part of Bailador’s stated policy of paying regular dividends equivalent to 4.0% of pre-tax NTA annually.

The company’s Dividend Reinvestment Plan will apply to the final dividend with a 2.5% discount. The shares will trade ex-dividend from 18 August, with the Record Date on 19 August and payment scheduled for 7 September 2026.

Capital Deployment Focuses on Existing Holdings

Bailador deployed $7.6 million into existing portfolio businesses during FY26. The largest transaction was a $5 million follow-on investment in DASH in April 2026, made at a value 21% above Bailador’s original entry price.

A further $2.5 million was invested in Rosterfy across November 2025 and February 2026, while $0.1 million was invested in PropHero during February 2026.

The portfolio strategy remains focused on technology businesses with characteristics including Recurring Revenue and exposure to specialised or mission-critical software markets. Bailador said its portfolio companies had approximately 63% gross margins and 82% recurring revenue on a weighted basis.

SiteMinder Provides $25 Million Realisation

Bailador completed a $25 million partial realisation of its SiteMinder investment in September 2025 at an average price of $7.21 per share.

The transaction provided cash proceeds while leaving Bailador with exposure to the remaining investment. SiteMinder has continued to expand its recurring revenue base and international customer footprint, according to the company.

The realisation illustrates Bailador’s ability to generate Liquidity from mature portfolio holdings while continuing to allocate Capital towards existing businesses with further growth requirements.

Portfolio Companies Continue to Develop

Several portfolio holdings recorded changes in carrying values and operating performance during FY26. Updoc’s valuation had increased by more than 120% from Bailador’s initial $20 million investment in May 2024, while its annual recurring revenue reached $280.3 million in the first half of FY26.

DASH underwent a transition year involving the migration of its IPS customer base to its Wealth platform and additional product development. Bailador’s FY26 investment followed a capital raising at a valuation above its original entry point.

PropHero’s carrying value was increased to $21.3 million in June 2026 after a further 16% uplift. The company also continued its investment in Hapana, while other portfolio businesses progressed initiatives involving international expansion, AI and operating efficiency.

Outlook Centres on Technology Portfolio Development

Bailador said its portfolio remains positioned around businesses with proprietary data, specialised software, regulated operating environments and mission-critical applications. The manager also highlighted the potential influence of artificial intelligence on technology companies and their market positioning.

The investment portfolio is being managed through a combination of follow-on capital deployment, operational development and selective realisations. Bailador’s FY26 activity included both additional investment in established holdings and cash generation from SiteMinder.

Conclusion

Bailador Technology Investments’ FY26 results show a portfolio that generated a positive return despite a difficult environment for listed technology companies. The company combined continued investment in existing holdings with a $25 million partial realisation of SiteMinder and maintained its fully Franked Dividend framework. Portfolio companies recorded substantial aggregate revenue and recurring revenue exposure, while individual holdings continued to experience changes in operating performance and carrying values. The company enters the new financial year with its capital concentrated across technology businesses at different stages of development and with further growth, operational execution and selective portfolio realisations remaining central to its investment approach.