Highlights

  • OFX Group Limited (ASX:OFX) announced on 26 October 2026 that its transaction process deed with Alakazam Holdings Bidco Limited, the owner of Equals Group Limited, had terminated.
  • The company reported unaudited net Operating Income of AUD 45.3mn for 2QFY27, up 3.1% on 1QFY27 but down 9.6% from the previous corresponding period.
  • Corporate Revenue was AUD 28.4mn, up 6.9% on 1QFY27.

OFX Group Limited (ASX:OFX) is an ASX-listed financial services business. The company was the subject of a 2026 market announcement focused on trading performance and a proposed corporate transaction. Its 26 October 2026 announcement provides the basis for the following review.

26 October Strategic Review Update

OFX Group Limited (ASX:OFX) announced on 26 October 2026 that its transaction process deed with Alakazam Holdings Bidco Limited, the owner of Equals Group Limited, had terminated. The proposed all-cash Acquisition had included indicative consideration of AUD 1.00 per share. The bidder did not provide the required reconfirmation by 23 October, ending the exclusivity period. Discussions remained ongoing on a non-exclusive basis, without certainty of a transaction.

2QFY27 Net Operating Income

The company reported unaudited net operating income of AUD 45.3mn for 2QFY27, up 3.1% on 1QFY27 but down 9.6% from the previous corresponding period. The update described trading across the quarter ended September 2026. The year-on-year decline and quarter-on-quarter increase represent different comparisons and should be read separately.

Corporate and Consumer Revenue

Corporate revenue was AUD 28.4mn, up 6.9% on 1QFY27. High Value Consumer revenue increased 2.8% quarter on quarter to AUD 13.3mn. Enterprise revenue decreased 31.3% to AUD 2.8mn. Corporate active clients fell 5.0% over the quarter; excluding specific run-off clients the decrease was 0.9%. The company identified changes in transactions, pricing and client activity across its products.

Non-FX Products and Client Wallets

Non-FX revenue increased 31.0% from 1QFY27 to AUD 1.0mn and 178.9% year on year. Client wallet balances at September-end were AUD 294.6mn, up from AUD 203.3mn at the end of 1QFY27. Interest income on group cash and client wallet balances totalled AUD 3.1mn for the quarter. These are operating disclosures, not a statement about ordinary share performance.

Expenses and Liquidity

Management expected underlying operating expenses of AUD 85mn–87mn for 1HFY27, including AUD 3.8mn in bad-debt expenses. OFX reported approximately AUD 15mn of annualised cost reductions executed at quarter-end. Net cash held was AUD 63.3mn, while net available cash after Collateral and bank guarantees was AUD 36.6mn. The 2QFY27 information was stated to be unaudited.

Business Overview and Risks

OFX Group Limited (ASX:OFX) provides international payment and currency services for businesses and individuals. The company disclosed risks arising from client activity, foreign-exchange transaction margins, Bad Debts and transaction uncertainty. The strategic review and the quarterly operating figures address separate matters; the release did not attribute financial results to the Takeover discussions.

Key Takeaways

The 26 October 2026 document describes 26 october strategic review update and 2qfy27 net operating income for OFX Group Limited (ASX:OFX). The comparisons, transaction details and reporting measures above retain the scope and period stated in that release. Further company announcements would be required to establish later financial or operational outcomes.