Qoria (QOR) H1 2026 earnings summary

Executive summary

• Revenue grew 25% year-over-year to $69.0 million, with underlying EBITDA up 68% to $10.32 million and free cash flow up 51% to $9.2 million; however, net loss after tax widened to $23.15 million.

• Qustodio segment achieved 34% ARR growth, is now profitable, and is a key driver of overall growth.

• The company announced a transformational merger with Aura, aiming to create a global leader in digital safety and security, with Qoria shareholders to own about 34% post-placement.

• Surpassed US$100 million equivalent in ARR, reaching AU$154 million on a constant currency basis.

Financial highlights

• Gross margin remained strong at 90–92%, with gross margin dollars up 16% year-over-year to $48.5 million.

• Fixed cost CAGR over two years was 4%, well below revenue and ARR growth rates.

• EBITDA margin (underlying, adjusted for FX) was 16.5% for the half.

• Net debt stood at $32.6 million, with available funding of $21.2 million.

• Price optimization underway, with average price increases around 5% per renewal.

Outlook and guidance

• Guidance reiterated for ARR growth above 20%, adjusted EBITDA margins of 20% or better, and strong free cash flow.

• Pipeline for the next half is at record highs, especially in the U.S. and U.K., with weighted K-12 pipeline up 29% year-over-year to $13.6 million.

• H2 FY2026 costs expected to be in line with H1, with $4 million annual cost efficiencies being actioned.

• Company expects to remain free cash flow positive for the full year, excluding interest and abnormals.