The PEXA Group Ltd (ASX: PXA) share price is in focus today after the company reported first-half FY26 revenue of $215.3 million, up 10% year-on-year, and Group NPAT of $15.4 million, turning around a prior loss.
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What did PEXA Group report?
- Group revenue rose 10% to $215.3 million (1H25: $195.9 million)
- Group EBITDA increased 19% to $85.8 million; EBITDA margin improved to 39.9%
- Group NPATA up 33% to $40.3 million; NPAT from continuing operations was $15.4 million vs a $29.5 million loss a year ago
- Free cash flow lifted 25% to $40.2 million
- Leverage (Net debt/EBITDA) improved to 1.4x from 2.0x
What else do investors need to know?
PEXA's strong performance was underpinned by record transaction volumes in Australia, hitting an all-time daily high of 41,000 settlements in December 2025. Cost optimisation initiatives in Australia delivered a 2.6% reduction in expenses and are expected to save more than $10 million annually.
In the UK, PEXA saw continuing market recovery with sale and purchase volumes up 15% and remortgage volumes up 24%. The Group moved ahead with implementation for major lender NatWest and expanded its product offering to UK conveyancers, increasing platform engagement.
Capital management was a focus, with PEXA repaying $25 million in debt and pausing its FY25 buyback, aiming to prioritise balance sheet strength and support future investments.
What did PEXA Group management say?
Chief Executive Officer and Group Managing Director Russell Cohen said:
PEXA delivered a strong result in the first half in FY26, underpinned by record transaction volumes in Australia, disciplined cost management and continued progress in the UK. On top of a 10% growth in Group revenue, we delivered EBITDA growth of 19%, with EBITDA margins increasing to 39.9% from 36.8% in 1H25. This reflects operating leverage from higher volumes and the benefits of our cost optimisation program, which is expected to deliver more than $10 million in annualised cash savings.
What's next for PEXA Group?
In the second half of FY26, PEXA plans to launch its new anti-money laundering product, PEXA Clear, ahead of the 1 July 2026 compliance deadline. Management aims to drive further resilience and innovation in Australia, complete the NatWest rollout in the UK, and keep capital discipline at the forefront.
PEXA has updated its core operating guidance for FY26 to reflect recent performance, now expecting Group revenue of $395 million to $415 million, an improved EBITDA margin of 34–37%, and NPAT of $15 million to $25 million from continuing operations.
PEXA Group share price snapshot
Over the past 12 months, PEXA shares have risen 26%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.
