Highlights

  • Biztrak Revenue reached RM526k, or A$184k, in the Sep-2026 quarter, up 22.6% on the prior corresponding quarter.
  • Cash fell to A$697k at 30 September 2026 after net operating outflows of A$123k during the quarter.
  • H1 2026 revenue declined 15% to A$346,600 as e-invoicing Training and professional services work slowed in Malaysia.
  • The mobile Warehouse app migration to .NET MAUI is complete, with internal testing scheduled to follow.

Platformo Ltd (ASX:PFM) has turned a softer first half into a stronger September quarter, with its Malaysian software Business Biztrak growing revenue on the back of accounting software licences and cloud hosting subscriptions.

The improvement followed a half-year to 30 June 2026 in which revenue slipped and losses widened, leaving the company focused on cost discipline while it continues to develop its product range.

Licences and Hosting Drive the September Quarter

Biztrak generated revenue of RM526k, equivalent to A$184k, in the Sep-2026 quarter, up 22.6% from RM429k in the Sep-2025 quarter. Management attributed the growth to Biztrak MSB accounting software licence revenue and Biztrak Cloud Hosting subscriptions.

Cash collections did not keep pace with revenue. Receipts from customers were RM498k, or A$174k, about 3% below the June quarter. Staff costs of A$205k remained the largest outflow, and net cash used in Operating Activities was A$123k. Payments of A$67k to related parties consisted of non-executive director fees.

A Weaker First Half Set the Backdrop

Platformo balances on 31 December, so its latest financial statements cover the six months to 30 June 2026. Revenue for that half fell 15% to A$346,600 from A$406,706, mainly because of lower Biztrak MSB training and professional services linked to Malaysia's e-invoicing implementation. The net loss after tax widened 34% to A$279,032.

All revenue came from Malaysia, while the Australian corporate segment recorded a pre-tax loss of A$214,035. Net Assets eased to A$520,360 from A$756,994 at 31 December 2025.

The directors stated that the group has sufficient cash to pay its debts as they fall due, with forecasts running to 31 August 2027 and downside scenarios still showing positive cash balances.

Product Work Across Accounting and Warehouse Software

Development continued across the portfolio during the September quarter. A Singapore InvoiceNow integration, a sales summary report and general ledger audit trail work for Biztrak MSB are complete and awaiting user acceptance. Biztrak Online gained faster receivables ageing exports and batch allocation clearing, while sales replacement, new financial reports and e-invoice Import remain in development.

For Biztrak WMS, the company completed migration of its mobile app framework from Android Xamarin to .NET MAUI and enhanced mobile order picking. Biztrak also exhibited at The Manufacturing & Trade Exposition 2026 in Kuala Lumpur.

Outlook: Cost Discipline in a Competitive Market

Cash stood at A$697k at 30 September 2026, down from A$820k at the end of June, which the company calculated as about five quarters of funding at the latest outflow rate. It had no Loan or standby facilities and raised no Equity or Debt during the quarter.

Management expects a competitive environment marked by international pricing pressure and rising costs. Its stated plans are to continue targeted digital marketing, strengthen the domestic sales pipeline, assess regional partnerships prudently and maintain disciplined cost management. Board renewal has also been a feature of 2026, with Kobe Li and Zoe Chow appointed as directors and former chairman Ben Reichel resigning on 28 May 2026.

Shares were unchanged at A$0.011 on 2 November 2026, giving a Market Capitalisation of about A$1.04 million, and were down 66.67% over 12 months.