Stock Analysis

With PaaS revenue growing, the company reported an increasing base of recurring revenue, with approximately 73% of FY26 revenue derived from recurring income streams comprising Support & Maintenance and PaaS transaction fees. The remaining 27% of revenue was generated from project and licence income …

Excluding these one-off items, Normalised EBIT was $91.7 million, up 19% on FY25 and $2.3 million above the pro forma prospectus forecast, with Normalised EBITMarginincreasing to 5.4% from 5.2%. Normalised NPAT was $70.8 million, up 14% on FY25 and moderately above the pro forma …

Operating cash flow rose 104% to $1,238 million, while free cash flow increased 413% to $737 million from $144 million in FY25. The company reported a cash build of $714 million during the year, with closing cash of $1,289 million, up 124% on FY25's …

Funds Under Management declined to A$26.4 billion at 30 June 2026 from A$30.0 billion a year earlier, a movement the company said principally reflects its exit from Aether in June 2026. Despite theEarningsdecline, the company declared a total FY26Dividendof A$0.48 per share, up from …

Group Underlying EBITDA (before FX) was $5.3 million, representing a $7.5 million improvement on H1 FY25. The company said this reflected revenue and gross margin growth, prudent cost management, and operationalLeveragewithin Appen China. The Group held a cash balance of $44.7 million (A$64.8 million) …

The company recorded a statutory NPAT loss of $64 million, $58 million lower than the prior year's $6 million loss. This reflected several one-off items, including a $27 million impairment of inventory, $6 million of restructuring costs, $4 million ofLeaseexits, a $3 million foreign …

EBITDA for the year was $3.6 million, also at the upper end of the guided range of $3.25 million to $3.75 million. Second-half EBITDA of $3.8 million was up $4.0 million compared with the first half, which the company attributed to cost reduction measures …