Wrkr (WRK) Q2 2026 TU & M&A Announcement earnings summary

Executive summary

• Exceeded 5 million contracted users, surpassing targets, with a focus on activating these users for full-year income by FY 2027.

• Completed 100% acquisition of PaidRight Holdings for approximately AUD 13.9 million, accelerating expansion into pay compliance and integrating advanced payroll technology.

• Achieved 36% market share among top 3 Australian super funds, with major wins including AustralianSuper and Rest Super.

• Achieved live status for Rest Pay and early production testing for AustralianSuper, accelerating implementation timelines ahead of Payday Super legislative changes in July 2026.

• Cash at bank remains strong at over AUD 16 million as of 31 Dec 2025, supporting ongoing investments and growth.

Financial highlights

• Q2 cash receipts were AUD 3.2 million, down $792k from the previous quarter due to timing of customer payments and an overdue invoice of AUD 880,000.

• FY2026 year-to-date cash receipts reached $7.23 million, up 72% year-over-year.

• Operating expenses for Q2 were $3.8 million, reflecting controlled expenditure for growth.

• Capital investment for the quarter was AUD 1.8 million, directed towards product development, acquisition costs, and platform development.

• PaidRight's current operating revenue is approximately AUD 3.4 million, with significant R&D investment.

Outlook and guidance

• Regulatory changes such as Payday Super (effective 1 July 2026) expected to increase transaction volumes and drive platform adoption.

• Expectation of rising revenue as transactional flows increase with employer onboarding for AustralianSuper and Rest.

• Focus on SaaS-based revenue growth for PaidRight, with plans to break offerings into more accessible components.

• Anticipates significant client onboarding milestones, including full production release for AustralianSuper and migration of ClickSuper customers.

• Targeting additional super funds and SME market through ATO SBCH closure opportunity.