PEXA Group (ASX:PXA): FY26 Earnings, Digital Settlements and FY27 Priorities

Aditi Sarkar

23 October 2026 07:49 PM AEDT

PEXA Group (ASX:PXA): FY26 Earnings, Digital Settlements and FY27 Priorities

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Highlights

PEXA Group (ASX:PXA) reported FY26 continuing-business revenue of AUD 406.9 million, up 7%.
Group EBITDA rose 12% to AUD 151.7 million, with a margin of 37.3%.
Free cash flow increased 39% to AUD 93.5 million; year-end net debt was AUD 158.7 million.
FY27 guidance forecasts AUD 385 million to AUD 415 million in group revenue.

PEXA Group (ASX:PXA) operates digital infrastructure that supports property transactions and electronic conveyancing, principally through its Australian Exchange platform. Its August 2026 full-year results detailed higher continuing-business revenue, improved operating earnings and a reduction in borrowings, alongside a renewed focus on Australia and the United Kingdom. At the close of trading on 22 October 2026, PEXA Group (ASX:PXA) shares stood at AUD 6.69.

Company Business

PEXA Group (ASX:PXA) provides a digital workspace for parties involved in Australian property transactions to coordinate lodgement, funds movement and settlement. Its Exchange services are used across a regulated conveyancing environment, linking the operational needs of financial institutions, conveyancers and other transaction participants. Transaction activity, transaction fees, technology reliability and the regulatory framework influence the economics of this business.

The group also operates an international business centred on introducing its property transaction technology into the United Kingdom. Development work covers digital remortgage processes and planned sale-and-purchase capabilities. These activities involve platform investment and implementation timelines that differ from the established Australian operation. Following a strategic review, PEXA exited its Digital Solutions businesses during FY26, presenting their results as discontinued operations.

Recent Development

In its FY26 release on 28 August 2026, PEXA Group (ASX:PXA) reported that Australian Exchange transaction volumes increased 6.4% to 4.7 million. Average revenue per transaction increased 2.2% to AUD 80.60, reflecting CPI-linked price adjustments. Revenue from Australian operations rose 8% to AUD 345.6 million. These measures show the effect of both property transaction volumes and transaction pricing on the Exchange operation.

In the United Kingdom, the group reported delivery of a digital remortgage capability with a banking customer during 2026. Its FY27 priorities include progressing the UK platform toward sale-and-purchase capability, further work on PEXA Clear and a capital-light New Zealand pilot. Australian electronic lodgement network operator service fees also remain subject to a regulatory review, and the company has made submissions concerning the proposed fee-setting approach.

Financial Performance and Sector Context

For the year ended 30 June 2026, group revenue from continuing operations was AUD 406.9 million, compared with AUD 379.5 million in FY25, representing 7% growth. Group EBITDA increased from AUD 135.1 million to AUD 151.7 million, a rise of 12%, and the reported margin improved from 35.6% to 37.3%. Operating expenses were AUD 185.7 million, up 4%, as international development spending continued alongside cost controls in Australia.

The Australian business generated AUD 192.8 million in EBITDA, up 12%, at a margin of 55.8%. Group net profit after tax before acquired amortisation and significant items, a non-IFRS measure, increased 35% to AUD 65.3 million. Statutory profit after tax from continuing operations reached AUD 19.2 million, compared with a loss of AUD 65.6 million in FY25. Including discontinued operations, the group recorded a statutory net loss of AUD 15.9 million, reflecting a AUD 35.1 million loss from exited businesses.

Free cash flow increased 39% to AUD 93.5 million, compared with AUD 67.2 million in FY25. PEXA repaid AUD 92.4 million in net debt during the year, and net debt at 30 June 2026 was AUD 158.7 million, down AUD 85.8 million. Net leverage fell from 1.8 times to 1.0 times, while interest cover increased from 6.7 times to 9.6 times. These figures distinguish operating cash generation and financing changes from statutory earnings.

Risks to Consider

PEXA Group (ASX:PXA) is sensitive to Australian property transaction volumes, which can change with lending conditions and wider housing market activity. Regulatory decisions on Exchange fees may affect the revenue model. Continuing UK investment involves adoption, expenditure and delivery risks, while cyber security, system availability and settlement integrity remain central operational requirements. Changes in taxation and property market conditions also feature in the company’s FY27 assumptions.

What to Watch Next

For FY27, PEXA has guided to group revenue of AUD 385 million to AUD 415 million and an EBITDA margin of 31.5% to 33.5%, below the FY26 reported margin of 37.3%. Its guidance also includes core group net profit after tax of AUD 5 million to AUD 20 million, capital expenditure of AUD 45 million to AUD 55 million and international operating cash outflow of AUD 55 million to AUD 65 million. Subsequent updates may clarify Australian transaction trends, the fee review outcome, UK implementation milestones and cash requirements.

Key Insights

PEXA Group (ASX:PXA) ended FY26 with higher continuing-business revenue and EBITDA, more Australian Exchange transactions and reduced net debt. The discontinued Digital Solutions operations continued to affect the statutory group result. FY27 reporting will provide evidence on property transaction activity, margins, regulatory fee settings and international platform execution against the company’s published guidance.

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