Highlights

  • Estimated ARR rose 27% during the September 2026 quarter, from A$13.4 million to A$17.0 million.
  • Active organisations on the Payday Super platform more than doubled to 67,000 by 30 September 2026.
  • Cash at bank reached A$14.6 million after the August Capital raise delivered about A$12.0 million in proceeds.
  • Net operating cash outflow was A$4.1 million as quarterly customer receipts eased to A$3.4 million.

Wrkr (ASX:WRK) lifted estimated annual Recurring Revenue by 27% in the September 2026 quarter as employers, funds and Payroll providers moved onto its Payday Super platform in far greater numbers. The Q1 FY27 update, released on 29 October 2026, also showed a stronger cash position after an August capital raise, alongside a larger operating outflow during an intensive onboarding period.

Founded and listed in 2016, Wrkr provides compliance and payment software for super funds, payroll providers and employers. Its offerings include the Wrkr PLATFORM for ATO messaging and payment orchestration, the Wrkr PAY super gateway and clearing house, Wrkr READY onboarding and the PaidRight payroll compliance review system.

Payday Super Volumes Climb

Active organisations on the platform rose to 67,000 at 30 September from 31,800 three months earlier, reaching 71,100 by 21 October. Contributing tax file numbers almost tripled to 1.23 million, and activation lifted to 50.7% from 26.1%. Estimated ARR, measured as the final month's recurring revenue annualised and unaudited, climbed to A$17.0 million.

During the quarter Wrkr onboarded more than 33,000 new entities through identity and bank verification checks while supporting six MUFG funds, digital service providers and payrolls. It also launched complex employer payment splitting and NPP PayID on Wrkr PAY.

Cash Receipts Dip While Funding Strengthens

Customer receipts fell to A$3.4 million from A$6.7 million in the June quarter, which had included final MUFG implementation and migration payments plus A$0.7 million of early annual licence fees. No cash was received for MUFG clearing house transactions in the quarter because of invoicing timing, and A$1.03 million of invoices were past due, which the company does not consider at risk.

The net operating outflow was A$4.1 million, with staff costs of A$4.6 million, and A$2.6 million went into strategic capital investment. Equity proceeds of about A$12.0 million from the August raise, before A$0.7 million in costs, lifted cash to A$14.6 million from A$10.2 million. Wrkr says it is fully funded to cash-flow break-even on current contracts and forecast volumes.

Board Responds to Closed-Period Trade

In September, Wrkr answered an ASX query after a family trust connected to non-executive director Emma Dobson sold 603,540 shares during a closed period in July. The board found the sale inadvertent, issued a formal warning and required refresher training, and Ms Dobson agreed to repurchase the shares on market.

Outlook: Cost Cuts and Transaction Revenue

Management describes FY27 as on track, with the December quarter focused on winding down hypercare subcontractors, rationalising development environments and bringing on gateway revenue. Contribution messages into MUFG funds are expected to begin in November and finish in February 2027, representing more than half of expected transactional revenue. PaidRight integration is planned from Q3 FY27, and management expects strong growth in the second half.

The Annual General Meeting is set for 26 November 2026 in Sydney. Shares were priced at A$0.08 on 2 November 2026, down 2.44% on the day.