Wrkr (WRK) Q1 2026 TU earnings summary

Executive summary

• Achieved third consecutive quarter of positive operating cash flow, with Q1 FY26 at $616k compared to -$57k in Q1 FY25, driven by milestone achievements, overdue collections, and recurring revenues.

• Accelerated platform development and customer-specific features in preparation for major client onboarding, including Rest Super and AustralianSuper.

• Completed a $15 million capital raise in August 2025, strengthening the cash position to $18.75 million at quarter-end.

Financial highlights

• Cash receipts totaled $4 million, supported by implementation milestones, overdue invoice collections, and annual license renewals.

• Operating expenses increased to $3.4 million in Q1 FY26 from $2.8 million in Q4 FY25, reflecting investments in security, compliance, and resourcing.

• Net cash from operating activities was $616k; net cash used in investing activities was $1.6 million.

• Cash and cash equivalents at quarter-end were $18.75 million.

Outlook and guidance

• Positive operating cash flow in Q1 FY26 is not expected to continue for the remainder of FY26 due to accelerated expenditure for major client go-lives and product launches.

• Anticipated increase in negative EBITDA for FY26 as a result of higher project delivery, labour, security, quality assurance, and marketing costs.

• Major client onboarding (Rest Super, AustralianSuper) and new product launches (Wrkr Small Business Clearing House) are expected in Q2 and Q3.