Highlights

  • Revenue reached A$6.33 million in the Sep-2026 quarter, up 38% on the prior quarter and 30% year on year.
  • Customer receipts climbed 79% quarter on quarter to A$5.52 million, within the company's revised receipts guidance range.
  • Net operating cash outflow narrowed 56% to A$1.84 million, while closing cash stood at A$0.78 million.
  • The Chair's Unsecured Loan Facility increased from A$10 million to A$12 million in October 2026.

Vinyl Group (ASX:VNL) has reaffirmed its FY27 Revenue forecast of A$38–40 million after its first full quarter carrying three newly acquired media businesses lifted sales to a record for a September quarter. Revenue for the three months to 30 September 2026 reached A$6.33 million, up 38% on the June quarter and 30% on the prior corresponding period.

The company, which combines a digital publishing network with music technology platforms, said several major campaigns slipped from the September quarter into the December quarter, and that record Q2 revenue has already been booked.

Three Acquisitions Reshape the Revenue Base

The September quarter was the first to include a full three months of Val Morgan Digital, Pedestrian Group and Time Out Australia. Vinyl completed the Val Morgan Digital purchase in April 2026 for A$10.5 million in cash and shares, then closed the Pedestrian Group Acquisition on 15 June 2026 and Time Out Australia on 25 June 2026. A Placement of about A$2.4 million at A$0.054 per share in June supported the Time Out integration.

Its owned titles now include PEDESTRIAN.TV, Concrete Playground, Mediaweek and The Music Network. Gross Margin improved from 53% in July to 56% in September, and operating expenses trended lower month by month.

Collections Improve but Cash Remains Tight

Customer receipts rose to A$5.52 million, up 79% on the previous quarter and 37% on the prior corresponding period, landing within the revised A$5.5–6.5 million range set on 31 August 2026. The net operating cash outflow improved 56% to A$1.84 million from A$4.2 million, with staff costs of A$3.74 million the largest outflow.

Cash fell to A$0.78 million at 30 September 2026 from A$1.65 million at the start of the quarter. The company noted more than A$5 million in receivables outstanding and a shortfall of over A$750,000 against expected collections. Its funding relies on an unsecured loan from Chair Ken Gaunt, increased by A$2 million to A$12 million in October 2026, and a fully drawn A$1.5 million Songtradr Credit line. No Equity was raised during the quarter.

Integration Savings and EBITDA Target Ahead

Management is consolidating the publishing businesses into a single operating model, removing duplicated staff, software, property and administrative costs, with restructuring savings expected to flow through in the December quarter. The company is targeting a sustainably EBITDA-positive monthly run-rate from December 2026 and expects positive Cash Flow for the December quarter, supported by revenue growth and lower costs.

Shareholders will meet on 13 November 2026 to vote on director elections, ratification of earlier share issues, additional placement capacity and option grants to director Damian Keogh and chief financial officer Michael Globan. Shares were priced at A$0.035 on 2 November 2026, down 7.9% on the day, with a Market Capitalisation of A$51.91 million and a 12-month decline of 58.82%.