Qoria (QOR) Q2 2026 earnings summary

Executive summary

• Achieved record ARR growth, surpassing AUD 149 million (US$100 million), up 20% year-over-year, with 20% of U.S. students and over 30 million children on the platform.

• Net ARR added in Q2 was AUD 5.1 million, up 42% year-over-year, and H1 free cash flow reached AUD 8.9 million, up 46% year-over-year.

• K-12 weighted pipeline reached nearly $40 million, up 30% year-over-year, indicating strong future growth.

• All guidance numbers met, with strong confidence in full-year outlook.

Financial highlights

• Cash receipts for H1 reached AUD 79.1 million, up 20% year-over-year.

• Free cash flow for H1 was AUD 8.9 million, up 46% year-over-year.

• Exit ARR at December was AUD 149 million, growing 19% year-over-year.

• Net debt at period end was AUD 32.6 million, with cash on hand of AUD 21.2 million.

• Gross margins remain above 90%, excluding acquisition costs.

Outlook and guidance

• Confident in exceeding 20% ARR and revenue growth for the full year, with FY2026 guidance including revenue of $145 million and adjusted EBITDA margin of 20%.

• Free cash flow expected to be at or above break-even for the year.

• Cash receipts growth for the second half projected comfortably above 20% year-over-year.

• Cost base expected to remain flat into FY27, with AI-driven savings offsetting wage increases.

• Guidance is subject to foreign exchange movements and material changes in the business environment.