Xref (XF1) Investor Presentation summary

Financial performance and business model transformation

• Revenue grew 7% to $21.3M in FY25, driven by SaaS transition and platform adoption.

• Annual Recurring Revenue (ARR) increased 29% to $19.3M, with SaaS contracts now the primary revenue source.

• EBITDA rose 237% to $2.5M, reflecting cost reductions and operational efficiencies.

• Total expenses decreased 8% to $22.5M, aided by a 28% reduction in headcount.

• Revenue per employee improved 33% to $217k, highlighting increased business efficiency.

Strategic direction and platform evolution

• Transitioned to a unified Employer Intelligence Platform, integrating reference checks, surveys, and talent pooling.

• Launched self-sign-up and self-service tools, enabling broader SaaS adoption and lower client acquisition costs.

• Expanded product suite includes automated references, background checks, pulse and exit surveys, and talent pool management.

• API strategy enables integration with HR and recruitment platforms, with 40% of revenue from API users.

• AI toolset enhances automation, personalisation, and operational efficiency across the platform.

Market opportunity and client base

• Global recruitment market projected to reach $2.3T by 2033, with talent scarcity and high mobility as key drivers.

• Over 2,000 clients, 85% retention on renewal, and low revenue concentration from top 20 clients (<5%).

• 80% of clients are from Australia and New Zealand; 50% are not-for-profit, government, or healthcare.

• Rated #1 globally for reference checking, with over 2,000 reviews and high client satisfaction scores.

• 1.9M people provided feedback using the platform across 195 countries in 2025.