ReadyTech Holdings Limited (ASX: RDY), a technology provider specialising in education, apprenticeship and employment services, integrated payroll and HR solutions, and technology for local and state government and justice agencies, has released its preliminary final report for the financial year ended 30 June 2026. The company announced a 2.6% increase in revenues from ordinary activities, reaching $125.018 million. Notably, ReadyTech reported a significant improvement in its after-tax loss, which narrowed by 69.7% to $4.885 million, compared to a loss of $16.141 million in the previous corresponding period.
Commenting on the FY26 result, ReadyTech Co-Founder and CEO Marc Washbourne stated, “FY26 was a year in which we strengthened the foundations for growth, transformed for an AI world and took decisive action on cost and capital allocation.” He added that the result finished within revised guidance, with cash margin reaching what is believed to be a low point. Washbourne highlighted that flagship products continued to compound, despite elevated churn in parts of the mature portfolio and delayed subscription revenue from enterprise customers due to ongoing implementations. Key operational achievements included a major Victorian TAFE common platform win, 10.4% growth in Workforce revenue to $38.1 million driven by 46 new logos and rising AI adoption, and the completion of remediation efforts following the VETtrak cyber incident.
While the net loss improved, Adjusted EBITDA for the group decreased to $34.832 million in FY26, down from $39.681 million in FY25. Basic loss per share also showed an improved position, moving from a loss of 13.33 cents in the prior year to 3.95 cents. Net tangible assets per ordinary security improved slightly from negative 47.86 cents to negative 45.13 cents. Consistent with the previous period, the company did not pay, recommend, or declare any dividends during the current financial year.
