Full Year 2026 Credit Clear Ltd Earnings Call

August 27, 2026

Speaker #1: You have joined the meeting as an attendee and will be muted throughout the meeting.

Joshua Reid: Yeah, limited. By way of introduction, my name is Joshua Reid, and I recently started as an Executive Director of the group and will be commencing as Managing Director formally from 1 September, with Andrew Smith handing over the reins. I am also joined today by our Chief Operating Officer, Jason Serafino. Say hello, Jason.

Speaker #2: Yeah, limited. By way of introduction, my name is Joshua Reed. I recently started as Executive Director of the group and will be commencing as Managing Director, formally from the 1st of September, with Andrew Smith handing over the reins.

Speaker #2: I'm also joined today by our Chief Operating Officer, Jason Serafino. Say hello, Jason. And our Chief Financial Officer, Victor Peplo. Apologies—we were all attempting to be in the same boardroom today, but we had a little bit of a technical hitch.

Jason Serafino: Hello.

Joshua Reid: Our Chief Financial Officer, Victor Peplow. Apologies, we all were attempting to be in the same boardroom today, but hit a little bit of a technical hitch. Anyway, hopefully, that shouldn't be a bother. Before formally commencing, I wanted to pay tribute to Andrew specifically for a wonderful contribution to the business. We are also very pleased that Andrew will remain with the business as an Executive Director up until the AGM and a Non-Executive Director thereafter, specifically helping the business with sales and client relationships, which he is so fantastic at. Okay, moving on. In my time with the business thus far, I have had the time to reflect on and assess where we are positioned. The business has a number of very strong attributes which stand us in good stead for future prosperity.

Speaker #2: But anyway, hopefully that shouldn't be a bother. Before formally commencing, I wanted to pay tribute to Andrew, specifically, for a wonderful contribution to the business.

Speaker #2: We are also very pleased that Andrew will remain with the business as an executive director up until the AGM, and as a non-executive director thereafter, specifically helping the business with sales and client relationships, which he is so fantastic at.

Speaker #2: So, okay, moving on. In my time with the business thus far, I've had the time to reflect on and assess where we are positioned.

Speaker #2: The business has a number of very strong attributes, which stand us in good stead for future prosperity. In particular, as I sort of looked at the business, we are a key service provider to a large, growing, and diverse blue-chip client base, which drives recurring revenue.

Joshua Reid: In particular, as I looked at the business, we are a key service provider to a large, growing, and diverse blue-chip client base which drives recurring revenue. We enhance the financial and customer outcomes for those clients, creating loyalty and leading to repeatable organic growth. We continue to strive for and drive operating leverage, whereby underlying earnings growth outstrips the revenue growth. This trend is supported by increasing digital collections and operational enhancements. AI-based tools and selective offshoring are a key driver of many of those enhancements. We have a dedicated and talented executive and senior leadership team, and they are committed to driving the business forward. We have also, you noticed, entered the UK market, which we estimate to be four times the size of our home Australian market, with a lot of similar attributes. This provides us a new medium-term growth platform.

Speaker #2: We enhance the financial and customer outcomes for those clients, creating loyalty and leading to repeatable, organic growth. We continue to strive for and drive operating leverage, whereby underlying earnings growth outstrips the revenue growth.

Speaker #2: This trend is supported by increasing digital collections and operational enhancements. AI-based tools and selective offshoring are key drivers of many of those enhancements.

Speaker #2: We have a dedicated and talented executive and senior leadership team and are committed to driving the business forward. We've also recently entered the UK market, which we estimate to be four times the size of our home Australian market, with a lot of similar attributes.

Speaker #2: This provides us with a new medium-term growth platform. We continue to see good growth opportunities across digital and traditional channels in the Australian market, particularly in the banking, insurance, and utilities industries.

Joshua Reid: We continue to see good growth opportunities across digital and traditional channels in the Australian market, particularly in banking, insurance, and utilities industries. Operating cash flows have grown, and a capital raising was completed during the period to assist with the UK acquisitions, leading to a strong balance sheet, which will be an enabler for future expansion. Moving to this first slide that we've got here, you will have seen this slide before. It really summarizes the group well. We are a tech-enabled full service debt collection business. From an early stage SaaS platform via Credit Clear and now the DTS business, following that acquisition, to what we'd call a tech-enhanced traditional provider via ARMA and now Arc Europe in the UK. Finally, later stage collection via our legal services firm, Oakbridge Lawyers. If we can move forward, Mel. Now to the numbers.

Speaker #2: Operating cash flows have grown, and a capital raising was completed during the period to assist with the UK acquisitions, leading to a strong balance sheet, which will be an enabler for future expansion.

Speaker #2: So, moving to this first slide that we've got here—you will have seen this slide before—it really summarizes the group well. We are a tech-enabled, full-service debt collection business.

Speaker #2: From an early stage SaaS platform via Credit Clear, and now the DTS business following that acquisition, to what we'd call a tech-enhanced traditional provider via ARMA, and now ARC Europe in the UK, and finally, later-stage collection via our legal services firm, Oakbridge.

Speaker #2: If we can move forward now—and now to the numbers. 2026 has been a very successful year, with strong growth in all key metrics.

Joshua Reid: 2026 has been a very successful year with strong growth in all key metrics. Revenue was up 28% to AUD 60 million. This was driven by both organic growth and initial contributions from the Arc Europe and DTS acquisitions. Key drivers of the organic revenue growth have been continued digital-first adoption across the core Australian collections business, growth in the client base, and increased share of wallet. Underlying EBITDA was up 41% to AUD 10.5 million. Continuing operating leverage is evident with the underlying EBITDA margin increasing from 15.9% to 17.5%. Increasing high-margin digital collections and operational enhancements aid this trend. In particular, AI-based tools will continue to be a key driver for many of those enhancements. These AI-based tools are increasingly assisting our team in their customer discussions. Underlying NPATA was up 65% to AUD 6.7 million.

Speaker #2: Revenue was up 28% to $60 million. This was driven by both organic growth and initial contributions from the ARC Europe and DTS acquisitions. Key drivers of the organic revenue growth have been continued digital-first adoption across the core Australian collections business, growth in the client base, and increased share of wallet.

Speaker #2: Underlying EBITDA was up 41% to $10.5 million. Continuing operating leverage is evident, with the underlying EBITDA margin increasing from 15.9% to 17.5%. Increasing high-margin digital collections and operational enhancements aid this trend.

Speaker #2: In particular, AI-based tools will continue to be a key driver for many of those enhancements. These AI-based tools are increasingly assisting our team in their customer discussions.

Speaker #2: Underlying NPATA was up 65% to $6.7 million. This is a new measure we are tracking going forward, as it approximates an underlying cash NPAT for the business, and we believe it should further assist shareholders in assessing value.

Joshua Reid: This is a new measure we are tracking going forward as it approximates an underlying cash NPAT for the business, and we believe should further assist shareholders in assessing value. Next slide, Mel. Thanks. Thank you. Underlying earnings per share was up 45% to AUD 0.014 per share. This was calculated as the underlying NPATA divided by the weighted average diluted share count. This is taking into account the in-the-money share rights under the executive incentive program. Operating cash flows were also strong in the period. Underlying operating cash flow was up 25% to AUD 8.3 million, and the net cash position at balance date was AUD 16.9 million. We'll move forward again. Thank you, Mel. Just looking at the attribution of the performance, specifically, looking at the revenue bridge here. Organic revenue growth was AUD 4 million or 9%.

Speaker #2: Next slide now. Thanks. Thank you. Underlying earnings per share was up 45% to 1.4 cents per share. This was calculated as the underlying NPATA divided by the weighted average diluted share count—this is taking into account the in-the-money share rights under the executive incentive program.

Speaker #2: Operating cash flows were also strong in the period. Underlying operating cash flow was up 25% to $8.3 million, and the net cash position at balance date was $16.9 million.

Speaker #2: We'll move forward again. Thank you, Mel. Just looking at the attribution of the performance, specifically looking at the revenue bridge here, organic revenue growth was $4 million, or 9%.

Speaker #2: And we also, obviously, had the initial contribution from the ARC Europe and DTS acquisitions, with a contribution of $9.1 million. If we were to pro forma a 12-month contribution from those acquisitions, the pro forma annual revenue would be $70 million.

Joshua Reid: We also obviously had the initial contributions from the Arc Europe and DTS acquisitions with a contribution of AUD 9.1 million. If we were to pro forma a 12-month contribution from those acquisitions, the pro forma annual revenue would be AUD 70 million. Moving to the, likewise, the underlying EBITDA. Organic EBITDA growth was AUD 1.3 million or 17%. Again, the initial contribution from the Arc Europe and DTS acquisitions was approximately AUD 1.7 million. Jason will talk a little bit more on those acquisition performances, but they're ahead of investment case, which is very pleasing. Again, if we were to pro forma a 12-month contribution from Arc Europe and DTS, pro forma underlying EBITDA would be AUD 12 million. Moving forward again, more numbers. This shows the detail, reconciling the underlying EBITDA that we've spoken about to the reported NPAT. Some items to call out.

Speaker #2: Moving to the underlying EBITDA, organic EBITDA growth was $1.3 million, or 17%. Again, the initial contribution from the ARC Europe and DTS acquisitions was approximately $1.7 million.

Speaker #2: Jason will talk a little bit more on those acquisition performances, but they're ahead of the investment case, which is very pleasing. Again, if we were to pro forma a 12-month contribution from ARC Europe and DTS, pro forma underlying EBITDA would be $12 million.

Speaker #2: Moving forward again, more numbers. This shows the detail reconciling the underlying EBITDA that we've spoken about to the reported NPAT. Some items to call out—an accounting thing.

Joshua Reid: An accounting thing, there was an AUD 2.8 million credit to the P&L upon the fair value of the Arc Europe contingent payment, because part of that payment is payable in two years' time. This payment is to be made in a set number of shares, and this fair value change reflects a reduction in our share price. As I say, just a non-cash accounting charge. There was approximately AUD 2.4 million in non-operating costs, the main of which relates to the costs associated with our busy acquisition year and a smaller amount of legal costs relating to the ACCC matter, which we will touch on shortly. The share-based costs reflect the non-cash costs associated with the executive incentive plan. The dilutionary impact of this plan is reflected in the underlying EPS numbers that we have already stated.

Speaker #2: There was a $2.8 million credit to the P&L upon the fair value of the ARC Europe contingent payment, because part of that payment is payable in two years' time.

Speaker #2: This payment is to be made in a set number of shares, and this fair value change reflects a reduction in our share price. So, as I say, it's just a non-cash accounting charge.

Speaker #2: There was approximately $2.4 million in non-operating costs, the majority of which relates to the costs associated with our busy acquisition year, and a smaller amount of legal costs relating to the ACCC matter, which we'll touch on shortly.

Speaker #2: The share-based costs reflect the non-cash costs associated with the executive incentive plan, and the dilutionary impact of this plan is reflected in the underlying EPS numbers that we've already stated.

Speaker #2: The depreciation and amortization captured the AASB 16 charges on our rental properties, and also the amortization of capitalized software costs. Moving on. Thank you, Mel.

Joshua Reid: The depreciation and amortization capture the AASB 16 charges on our rental properties and also the amortization of capitalized software costs. Moving on. Thank you, Mel. Just a little more information here related to this and following on, I guess, from the previous slide. This shows the bridging items between the reported NPATA of 4.3 and the underlying NPATA of 6.7 that we have called out. In particular, a few things there. The tax credit reflects a further addition to the deferred tax assets, which are now on balance sheet. It is therefore expected that no tax will be payable for up to the next two financial years. The amortization on the intangible assets is added back. We have spoken earlier about the fair value of the deferred consideration. The tax adjusted non-operating costs and the share-based costs are also added back in the way that we have calculated this underlying NPATA.

Speaker #2: Just a little more information here related to this, and following on, I guess, from the previous slide. This shows the bridging items between the reported NPAT of $4.3 million and the underlying NPATA of $6.7 million that we've called out.

Speaker #2: In particular, a few things there. The tax credit reflects a further addition to the deferred tax assets, which are now on the balance sheet. These therefore are expected to mean that no tax will be payable for up to the next two financial years.

Speaker #2: The amortization on the intangible assets is added back. We've spoken earlier about the fair value of the deferred consideration. The tax-adjusted non-operating costs and the share-based costs are also added back in the way that we've calculated this underlying NPATA. Moving on to the balance sheet...

Joshua Reid: Moving on to the balance sheet. Thanks, Mel. That is better. The balance sheet is in a strong position. The cash and liquidity position is strong and has improved over the period. The net cash position was AUD 16.9 million on that balance date. Intangible assets increased as a result of the Arc Europe and DTS acquisitions. Further, we entered into a new debt facility with ANZ in the period. The initial loan was AUD 6 million, reducing over a three-year period. This new relationship provides funding flexibility for future growth plans, which I think places us in good stead as we look forward to growing. Share capital increased over the period by a net AUD 17 million. We raised approximately AUD 21 million in equity for acquisitions, offset partially by the share buyback program that we enacted during the year, which was approximately AUD 8 million.

Speaker #2: You went there. Thanks, Mel. That's better. The balance sheet is in a strong position. The cash and liquidity position is strong, and it has improved over the period.

Speaker #2: The net cash position was $16.9 million on that balance date. Intangible assets increased as a result of the ARC Europe and DTS acquisitions. Further, we entered into a new debt facility with AIMS during the period.

Speaker #2: The initial loan was $6 million, reducing over a three-year period. This new relationship provides funding flexibility for future growth plans, which I think places us in good stead.

Speaker #2: As we look forward to grow, share capital increased over the period by a net $17 million. We raised approximately $21 million in equity for acquisitions.

Speaker #2: Offset partially by the share buyback program that we enacted during the year, which was approximately $8 million. The balance related to shares issued as part of the ARC Europe acquisition.

Joshua Reid: The balance related to shares issued as part of the Arc Europe acquisition, and there was also a movement in shares relating to the executive incentive plan. Next one. Thank you, Mel. Just talking about our cash flow here, which was very good in the period. Cash generation and conversion was strong. Underlying operating cash was up 25% to AUD 8.3 million. This number adjusts for the costs associated with the acquisitions, which was about AUD 1.7 million. The reported cash was also up 14% to AUD 6.6 million. This represents good cash conversion, which is very pleasing. Investing cash was AUD 14 million for the acquisitions, and a further AUD 2 million across both capitalized IT costs and plant and equipment.

Speaker #2: And there was also a movement in shares relating to the executive incentive plan. Okay. Next one. Thank you, Mel. Just talking about our cash flow here, which was very good in the period.

Speaker #2: Cash generation and conversion was strong. Underlying operating cash was up 25% to $8.3 million. This number adjusts for the costs associated with the acquisitions, which was about $1.7 million.

Speaker #2: The reported cash was also up 14% to $6.6 million. And this represents good cash conversion, which is very pleasing. Investing cash was $14 million for the acquisitions and a further $2 million across both capitalized IT costs and plant.

Speaker #2: And equipment. Finally, we've sort of touched on this. The financing cash captures the net equity and debt raised from various raising activities, offset by the share buybacks and the cost of the rental leases.

Joshua Reid: Finally, we've sort of touched on this, the financing cash captures the net equity and debt raised from various raising activities, offset by the share buybacks and the cost of the rental leases. I will now hand over to Jason, who will run you through some various items as well. Thanks, Jason.

Speaker #2: So I will now hand over to Jason, who will run you through some various items as well. Thanks, Jason.

Speaker #1: Thanks a lot, Josh. This is a nice slide to start on. We are very pleased with how this one is looking. As you can see, we have a large, growing, and very diverse blue-chip client base, which is very evident here.

Jason Serafino: Thanks a lot, Josh. This is a nice slide to start on. We're very pleased how this one is looking. As you can see, we have a large, growing, and very diverse blue chip client base, very evident here. Great to see the expansion into new geographies. Both our two recent acquisitions in DTS and Arc have strong client bases into the UK, which will be a focus for us for growth into the coming year. A smaller footprint into the US and Canada with somewhat of a niche offering from DTS servicing libraries there. To the next slide. Thank you. Now peering under the hood of the numbers. As Josh said, one of the key contributors to improving margin is the use of digital. The numbers here show payments on our digital platform.

Speaker #1: Great to see the expansion into new geographies. Both our two recent acquisitions in DTS and ARC have strong client bases in the UK, which will be a focus for us for growth in the coming year.

Speaker #1: A smaller footprint in the US and Canada, with somewhat of a niche offering from DTS, servicing libraries there. So, to the next slide. Thank you.

Speaker #1: So now, peering under the hood of the numbers. As Josh said, one of the key contributors to improving margin is the use of digital.

Speaker #1: The numbers here show payments on our digital platform. So, this is when a customer clicks on an SMS, an email, or a WhatsApp message that we send them, and makes a payment through our web portal without human intervention.

Jason Serafino: This is when a customer clicks on a SMS or an email, WhatsApp message that we send them, makes a payment through our web portal without human intervention. These kinds of payments are higher margin than when our team is on the phone with the customer taking payments that way. You can see our top-line organic revenue growth was 9%, but our digital payments grew by 26%. That's one part of what is underpinning the 41% growth in underlying EBITDA. Very pleased to see that. The numbers there are not including acquisitions. We haven't put DTS or Arc in there just to keep that story simple.

Speaker #1: These kinds of payments are higher margin than when our team is on the phone with the customer, taking payments that way. You can see our top-line organic revenue growth was 9%, but our digital payments grew by 26%.

Speaker #1: And that's one part of what is underpinning the 41% growth in underlying EBITDA, so very pleased to see that. The numbers there are not including acquisitions.

Speaker #1: So, we haven't put a DTS or ARC in there just to keep that story simple. However, with these acquisitions, software-as-a-service (SaaS) revenue now accounts for 18% of company revenue.

Jason Serafino: However, with these acquisitions, software as a service, SaaS revenue now accounts for 18% of company revenue, and that's very pleasing to see because not only is it high margin, but it's very sticky because we integrate it into our clients' back-end collection processes. Next slide, Dina. Talking more about digital and AI. We do see further opportunity to expand the use of digital automation and AI across the business, for further operating leverage increase. That's through automating the tasks that are currently done by our teams today, more and more of those tasks. In the center here, I have a diagram of our platform capabilities, either live today or in development and expected to be released over the course of this financial year.

Speaker #1: And that's very pleasing to see, because not only is it high-margin, but it's very sticky because we're integrated into our clients' backend collection processes.

Speaker #1: Next slide, Dina. Talking more about digital and AI, we do see further opportunity to expand the use of digital automation and AI across the business for further operating leverage increase.

Speaker #1: You know, that's through automating the tasks that are currently done by our teams today—more and more of those tasks. Now, in the center here, I have a diagram of our platform capabilities.

Speaker #1: The life today or in development and expected to be released over the course of this financial year. So, starting at 12 o'clock and going clockwise, we have digital communications, our self-service capabilities, our human and operators, and documents, and their current and very mature capabilities that we've been leveraging for many years to get to the kind of results that we have today.

Jason Serafino: Starting at 12 o'clock and going clockwise, we have digital communications, our self-service capabilities, our human operators and documents, and they are current and very mature capabilities that we have been leveraging for many years to get to the kind of results that we have today. Adding to those capabilities, we now have a number of new technologies in play for this year. We have recently added digital voice with the addition of the DTS digital IVR technology. That allows us to make outbound, inbound phone calls using pre-recorded messages that you use your keypad on your phone. If you have ever made an appointment to your electricity company or similar on an IVR, you know what that experience looks like. It is just another technique for us to remove these higher cost activities from our call center.

Speaker #1: But adding to those capabilities, we now have a number of new technologies in play for this year. So we've recently added digital voice, with the addition of the DTS digital IVR technology.

Speaker #1: So that allows us to make outbound and inbound phone calls using prerecorded messages, where you use your keypad on your phone. If you've ever made a payment to, you know, your electricity company or similar on an IVR, you know what that experience looks like.

Speaker #1: And it's just another technique for us to remove these higher-cost activities from our call centre. Further down the dial there, we are also investing into the exciting new world of agentic AI.

Jason Serafino: Further down the dial there, we are also investing into the exciting new world of agentic AI that everybody is talking about at the moment, I suppose. Think ChatGPT and other technologies. We are starting with emails because it is a big overhead in our teams. They spend a lot of time answering emails from customers. In fact, in our insurance team, where it is the highest, they spend 3 and a half hours per day per operator doing that. We think that there is a significant opportunity to reduce this by having an AI read the customer email, draft a response, but still have a human review that before it goes back to the customer so that we have got human in the loop, and it keeps it safe. We are also looking at deploying AI voice, which is where we have robots speaking to customers in voice calls.

Speaker #1: That's what everybody's talking about at the moment, I suppose. You think of ChatGPT and other technologies. We're starting with emails because it's a big overhead in our teams.

Speaker #1: They spend a lot of time answering emails from customers. In fact, in our insurance team, where it's the highest, they spend three and a half hours per day, per operator, doing that.

Speaker #1: And we think that there's a significant opportunity to reduce this by having an AI read the customer email, draft a response, but still have a human review that before it goes back to the customer, so that we've got the human in the loop.

Speaker #1: And it keeps it safe. We're also looking at deploying AI voice, which is where we have robots speaking to customers in voice calls. I do not want to overhype that technology at this point.

Jason Serafino: I do not want to over-hype that technology at this point. It has got a lot of promise, but there is a lot of risks and issues to work through in our space, particularly in collections, where we are dealing with customers in vulnerable circumstances. So, there is a lot to do in terms of evolving that technology and getting the right guardrails in place. But we do plan to remain on the forefront of that technology and continue to invest in that space. Finally, in the center, we have our own AI agent, ARI. This is a rebrand of our Next Best Action AI that we have been winning awards for all the way back to 2021. That sits in the center optimizing the best channels, approaches, strategies to use with an individual customer in order to achieve the best collection result, but in order to optimize our costs as well.

Speaker #1: It's got a lot of promise, but there are a lot of risks and issues to work through in our space, particularly in collections where we're dealing with customers in vulnerable circumstances.

Speaker #1: So, there's a lot to do in terms of evolving that technology and getting the right guardrails in place. But we do plan to remain at the forefront of that technology and continue to invest in that space.

Speaker #1: Finally, in the centre, we have our own AI agent, Ari. This is a rebrand of our next best action AI that we've been winning awards for, all the way back to 2021.

Speaker #1: And that sits in the centre, optimising the best channels, approaches, and strategies to use with an individual customer in order to achieve the best collection result, but also to optimise our costs as well.

Speaker #1: So, we're very excited to continue to invest in that technology. To the next slide. Thanks, Mel. Turning to the acquisitions now, we're very pleased with how both the acquisitions are progressing.

Jason Serafino: We are very excited to continue to invest in that technology. To the next slide. Thanks, Mel. Turning to the acquisitions now. We are very pleased with how both the acquisitions are progressing. First, here we have Arc Europe. This is our UK-based debt collection agency. We are presenting a couple of numbers here. We have got the revenue and EBITDA as was announced, and then we have taken the first half of this calendar year and annualized that to give you a sense of how that is progressing. As you can see, in both cases there, it is meeting, perhaps exceeding our expectations, which is very pleasing to see. The integration has gone very well. Financial integration is complete. We have developed a tech roadmap to combine Arc, DTS, which is also in the UK, and the Credit Clear technology, and we are working through the implementation of that over this year.

Speaker #1: First, here we have ARC Europe. This is our UK-based debt collection agency. We're presenting a couple of numbers here. We've got the revenue and EBITDA, as was announced.

Speaker #1: And then we've taken the first half of this calendar year and annualised that to give you a sense of how that's progressing. As you can see, in both cases, it's meeting—perhaps exceeding—our expectations, which is very pleasing to see.

Speaker #1: The integration's gone very well. Financial integration is complete. We've developed a tech roadmap to combine ARC, DTS (which is also in the UK), and the Credit Clear technology.

Speaker #1: And we're working through the implementation of that over this year. The sales pipeline is very strong, so we're in very promising discussions with a number of blue-chip opportunities.

Jason Serafino: The sales pipeline is very strong. We are in very promising discussions with a number of blue-chip opportunities with the combined Arc, DTS, and Credit Clear services. We had a successful launch event a month ago. It was very well attended, and very pleasingly, we already have our first new tier 1 client in onboarding. This will be a big focus for us for growth across this year. To the next slide, Mel. Similarly, with DTS, as I mentioned, it is a technology provider of collections capabilities. So voice and other capabilities that we are leveraging. DTS is strong in the UK as well as presence in New Zealand, Australia, and as I mentioned, a bit of a niche presence in the US. Again, a blue-chip customer base, really great opportunities to cross-sell Arc and Credit Clear services. Again, the transition and integration are complete. All the technology services have been transitioned over.

Speaker #1: With the combined ARC, DTS, and CCR services, we had a successful launch event a month ago. It was very well attended, and, very pleasingly, we already have our first new tier-one client in onboarding.

Speaker #1: So, this will be a big focus for us for growth across this year. To the next slide, Mel. Similarly, with DTS, as I mentioned, it's a technology provider of collections capabilities.

Speaker #1: So voice and other capabilities that we're leveraging—DTS is strong in the UK, as well as having a presence in New Zealand and Australia, and as I mentioned, a bit of a niche presence in the US.

Speaker #1: Again, a blue-chip customer base and really great opportunities to cross-sell ARC and CCR services. The transition and integration are complete, and all the technology services have been transitioned over.

Speaker #1: That went very smoothly. And we'll again be looking for growth in this area, but also some rationalisation of infrastructure costs in order to improve EBITDA.

Jason Serafino: That went very smoothly. We will be, again, looking for growth in this area, but also some rationalization of infrastructure costs in order to improve EBITDA. Over to you, Josh.

Speaker #1: Over to you, Josh.

Speaker #2: Thanks, Jason. Yeah, despite these positive advancements, business is often not plain sailing. And we were served with legal proceedings on the 24th of June, brought against us by the ACCC.

Joshua Reid: Jason. Yeah. Despite these positive advancements, business is often not plain sailing, and we were served with legal proceedings on 24 June, brought against us by the ACCC. We are working through this. We are well-represented, and are defending the proceedings. In terms of an update, look, the matter is following usual legal procedure, in this regard. We confirm that there was an initial federal court case management hearing, so it is not a trial, but a case management hearing. That occurred on 31 July. There are various procedural orders made by the judge at that time. The first of which was, the ACCC, which provide further and better particulars to their concise statement by 14 June. That has occurred. We, being ARMA and Force Legal, have to file and serve any sort of adjustments to that by 18 September.

Speaker #2: We are working through this. We are well represented and are defending the proceedings. In terms of an update—look, the matter is following usual legal procedure.

Speaker #2: In this regard, we confirm that there was an initial federal court case management hearing. So, it's not a trial but a case management hearing.

Speaker #2: That occurred on the 31st of July. There were various procedural orders made by the judge at that time, the first of which was that the ACCC was to provide further and better particulars to their concise statement by the 14th of June.

Speaker #2: So, that has occurred. We, being Armour and Force Legal, are to file and serve any sort of adjustments to that by the 18th of September.

Speaker #2: And probably the most substantive update that we can share is that there's a further case management hearing on the 16th of October this year.

Joshua Reid: The most substantive update that we can share is that there is a further case management hearing on 16 October this year. The matter has not impacted our day-to-day financial results or operations in a material manner at the present time. Of course, we will provide material updates as and when required under our continuous disclosure obligations. To the next slide. Thanks, Mel. So now looking forward, that was the year that was. We are very pleased with it. It made a lot of great strides. But looking forward to the 2027 year, we remain confident in the future prospects of the group with an expectation of continued organic revenue and earnings growth across core operations in both Australia and the UK. At present, the ACCC proceedings have not materially impacted the financial results, as I said. So on this basis, the company provides the following guidance for FY27.

Speaker #2: The matter has not impacted our day-to-day financial results or operations in a material manner at the present time. Of course, we'll provide material updates as and when required under our continuous disclosure obligations.

Speaker #2: To the next slide. Thanks, Mel. So now, looking forward, that was the year that was. We're very pleased with it. We've made a lot of great strides.

Speaker #2: But looking forward to the 2027 year, we remain confident in the future prospects of the Group, with an expectation of continued organic revenue and earnings growth across core operations in both Australia and the UK.

Speaker #2: At present, the ACCC proceedings have not materially impacted the financial results, as I sort of said. So, on this basis, the company provides the following guidance for FY27.

Speaker #2: For FY27, we expect revenue to be $77 million. We expect underlying EBITDA to be in the range of $12 million to $14 million.

Joshua Reid: FY27 revenue we expect to be in the range of AUD 73 million to AUD 77 million. We expect underlying EBITDA to be in the range of AUD 12 million to AUD 14 million. We expect a skew to the second half performance consistent with prior periods. Also noting that Arc Europe are further weighted in this half also. That is important to note as we look forward into 2027. This guidance assumes no material operational impact from the ACCC proceedings. A couple of other things that we have called out here. We are expecting good growth on the UK side. We have a couple of new sales executives there to help build out and grow the business there. Likewise on the SaaS and BPO side, we are expecting some good growth there. To Jason's point, we are expecting further AI deployment and enhancements across the group.

Speaker #2: We expect to skew to second-half performance, consistent with prior periods, also noting that ARC Europe are further weighted in this half as well.

Speaker #2: So that's important to note as we look forward into '27. This guidance assumes no material operational impact from the ACCC proceedings. A couple of other things that we've called out here.

Speaker #2: We're expecting good growth on the UK side. We've got a couple of new sales executives there to help build out and grow the business there.

Speaker #2: And likewise, on the SAS and BPO side, we're expecting some good growth there. And to Jason's point, we're expecting further AI deployment and enhancements across the group.

Speaker #2: There are a few interesting technologies that we're looking at there. So, to wrap up, Mel, just the final slide—almost a bit of a summary that we sort of touched on at the start.

Joshua Reid: There are a few interesting technologies that we are looking at there. To wrap up, Mel, just the final slide, almost a bit of a summary that we touched on at the start. Key attributes that really looking at here that I have certainly been impressed by since I started here is, there is a blue-chip client base here, which is growing. A loyal client base that leads to a repeatable organic growth. We are expanding our expertise in collections into a new market in the UK. We see that as a medium-term growth platform. Operating leverage is a key focus internally with the management team, looking to get earnings growing more than revenue from all those efficiency measures that Jason has referred to. Good domestic market opportunity as well. Particularly, we see in the banking, insurance, and utilities sector. We still see good growth in those areas particularly.

Speaker #2: But key attributes that I'm really looking at here, that I've certainly been impressed by since I started here, is that there's a blue-chip client base here.

Speaker #2: Which is growing—a loyal client base that leads to repeatable, organic growth. And we're expanding our expertise in collections into a new market in the UK.

Speaker #2: So we sort of see that as a medium-term growth platform. Operating leverage is a key focus internally with the management team, looking to get earnings growing more than revenue from all those efficiency measures that Jason has referred to.

Speaker #2: There are good domestic market opportunities as well, particularly, as we see, in the banking, insurance, and utility sectors. We still see good growth in those areas. Importantly, we have a strong balance sheet, a good capital position, and a fantastic executive and senior leadership team.

Joshua Reid: Importantly, we have a strong balance sheet, good capital position, and a fantastic executive and senior leadership team. Very pleased with the year and we are looking forward to FY27. That is it for the formalities, Mel.

Speaker #2: So, very pleased with the year, and we're looking forward to FY27. And that's it for the formalities, Mel. Happy to open to Q&A at your convenience.

[Company Representative] (Credit Clear): Mel.

Mel Singh: Mel.

Joshua Reid: Happy to open to Q&A at your convenience.

[Company Representative] (Credit Clear): We have Larry Gambla from Shores online. Larry, if you would like to ask your questions live.

Mel Singh: We have Larry Gambla from Shores online. Larry, if you would like to ask your questions live.

Speaker #1: We have Larry Gandler from Shores online. Larry, if you would like to ask your questions live.

Larry Gambla: Yes. Can you hear me, Mel?

Larry Gandler: Yes. Can you hear me, Mel?

Speaker #3: Yes, can you hear me, Mel?

Speaker #1: Yes, thank you.

[Company Representative] (Credit Clear): Yes. Thank you.

Mel Singh: Yes. Thank you.

Speaker #3: Oh, great. Josh, welcome aboard. Congrats on your appointment and congrats to Andrew moving up to the Board. First question is, when you look at your guidance—and not wanting to pressure-cook the organisation—but when you look at the guidance at the midpoint, I think it's something like $14-plus million of revenue growth.

Larry Gambla: Well, great. Josh, welcome board. Congrats on your appointment and congrats to Andrew, moving up to the board. First question is, when you look at your guidance and not wanting to pressure cook the organization, but when you look at the guidance at the midpoint, I think it is something like AUD 14 million plus of revenue growth. Looking at the EBITDA, it is AUD 2.5 million of EBITDA growth at the midpoint. Normally, Credit Clear has a higher conversion for marginal profits. When I think that there might even be synergy with the acquisitions or some acquisition investment unwinding, it seems like maybe AUD 2.5 million is very conservative or that EBITDA guidance range is conservative. Can you talk to what factors have gone into that EBITDA guidance range?

Larry Gandler: Well, great. Josh, welcome board. Congrats on your appointment and congrats to Andrew, moving up to the board. First question is, when you look at your guidance and not wanting to pressure cook the organization, but when you look at the guidance at the midpoint, I think it is something like AUD 14 million plus of revenue growth. Looking at the EBITDA, it is AUD 2.5 million of EBITDA growth at the midpoint. Normally, Credit Clear has a higher conversion for marginal profits. When I think that there might even be synergy with the acquisitions or some acquisition investment unwinding, it seems like maybe AUD 2.5 million is very conservative or that EBITDA guidance range is conservative. Can you talk to what factors have gone into that EBITDA guidance range?

Speaker #3: And then looking at the EBITDA, it's $2.5 million of EBITDA growth at the midpoint. Normally, Credit Clear has sort of a higher conversion for marginal profits.

Speaker #3: But then, when I think that there might even be synergy with the acquisitions, or some acquisition investment unwinding, it seems like maybe $2.5 million is very conservative, or that EBITDA guidance range is conservative.

Speaker #3: Can you speak to what factors have gone into that EBITDA guidance range?

Speaker #2: Yeah, I mean, look, we're always looking to, with guidance, you've got to strike the balance between a confident position but also being sufficiently conservative.

Joshua Reid: Yeah. Look, we're always looking to be, with guidance, you've got to strike the balance between a confident position but also being sufficiently conservative. I guess all I can say is we're very focused on organic revenue growth and being efficient with turning that into profitability. So, there's some of the key factors we have thought about with it.

Speaker #2: I guess all I can say is that we're very focused on organic revenue growth and being efficient with turning that into profitability. So those are some of the key factors we have sort of thought about with it.

Speaker #3: Okay. Did you have some integration costs in FY26 that might unwind in FY27, Josh?

Larry Gambla: Okay. Did you have some integration costs in FY26 that might unwind in FY27, Josh?

Larry Gandler: Okay. Did you have some integration costs in FY26 that might unwind in FY27, Josh?

Speaker #2: Well, we've called out sort of the one-off costs in the FY26 result. Those one-off costs we've called out.

Joshua Reid: Well, we've called out sort of the one-off costs in the FY26 result. Those one-off costs we've called out.

Speaker #3: Oh, and they might be already captured below the sort of management EBITDA number. Okay, I see that. All right. And the other question I had is, SaaS as a proportion of your revenue kind of steps up with the acquisitions.

Larry Gambla: Oh, and they might be already captured below the management EBITDA number. Okay.

Larry Gandler: Oh, and they might be already captured below the management EBITDA number. Okay.

Joshua Reid: Yes.

Larry Gambla: I see that. All right. The other question I had is, SaaS as a proportion of your revenue kind of steps up with the acquisitions. Just wondering, maybe Jason, you could talk to, is that DTS, which is largely integrated with its customers, how does that change, that SaaS?

Larry Gandler: I see that. All right. The other question I had is, SaaS as a proportion of your revenue kind of steps up with the acquisitions. Just wondering, maybe Jason, you could talk to, is that DTS, which is largely integrated with its customers, how does that change, that SaaS?

Speaker #3: Just wondering, maybe Jason, you could talk to—is that DTS, which is largely integrated with its customers—how does that change that SaaS?

Speaker #2: Yeah, that's great, Larry. That DTS is entirely SaaS, business integrated with the customers. You're part of their collections process.

Jason Serafino: Yeah, that's correct, Larry. DTS is entirely SaaS business integrated with the customers. You're part of their collections process.

Speaker #3: Oh, great. Okay, so it's fully integrated? Yeah. Okay, that's good to understand. All right, guys, that's my questions. Thank you.

Larry Gambla: Oh, great. Okay, so it's fully integrated. Yep. Okay, that's good to understand. All right, guys, that's my questions. Thank you.

Larry Gandler: Oh, great. Okay, so it's fully integrated. Yep. Okay, that's good to understand. All right, guys, that's my questions. Thank you.

Speaker #1: Thank you, Larry. Josh, can we just talk to the ACCC? What specific systems, processes, and governance changes have been made in response to the matters underlying the proceedings?

[Company Representative] (Credit Clear): Thank you, Larry. Josh, can we just talk to the ACCC. What specific systems or processes and governance changes have been made in response to the matters underlying the proceedings? What independent assurance has the board obtained that those historical issues cannot recur, and how is Credit Clear engaging with the ACCC regarding that remediation?

Mel Singh: Thank you, Larry. Josh, can we just talk to the ACCC. What specific systems or processes and governance changes have been made in response to the matters underlying the proceedings? What independent assurance has the board obtained that those historical issues cannot recur, and how is Credit Clear engaging with the ACCC regarding that remediation?

Speaker #1: And what independent assurance has the Board obtained that those historical issues cannot recur, and how is Credit Clear engaging with the ACCC regarding that remediation?

Joshua Reid: Yep, I will hand that to you to start with, Jason.

Speaker #2: Yeah, I'll hand that to you to start with, Jason.

Speaker #4: Yeah, let me cover the first part of that question in terms of operational changes. So, yeah, certainly we've specifically reviewed all the allegations and put in place improvements around those.

Jason Serafino: Yeah, let me cover the first part of that question in terms of operational changes. Yes, certainly we have specifically reviewed all the allegations and put in place improvements around those. Let me say, though, more broadly, we are in a process of continually reviewing these things. The areas that the ACCC looked are the same areas that our clients and our internal audit functions, et cetera, look. With all of our major clients, we will be in an annual and quarterly audit, largely compliance-focused. With many of them, we have a monthly review as well. We genuinely are constantly reviewing and improving the processes around all of these points all the time. We actively encourage our clients to do that.

Speaker #4: But let me say, though, more broadly, we're in a process of continually reviewing these things, and the areas that the ACCC looked at are the same areas that our clients and our internal audit functions, et cetera, look at.

Speaker #4: And with all of our major clients, we will be in an annual and quarterly audit, largely compliance focused. With many of them, we have a monthly review as well.

Speaker #4: So we genuinely are constantly reviewing and improving the processes around all of these points, all the time. And we actively encourage our clients to do that.

Speaker #4: And as you can imagine, post the ACCC announcement, many of our larger clients did come in and do exactly that—do a deep audit.

Jason Serafino: As you can imagine, post the ACCC announcement, many of our larger clients did come in and do exactly that, do a deep audit. I am pleased to say, were not able to identify any issues at all out of that. Very confident about the state of play of our compliance and controls.

Speaker #4: And I'm pleased to say we weren't able to identify any issues at all out of that, so I'm very confident about the state of play of our compliance and controls.

Speaker #2: And on that last point, Mel, I think you sort of said, to what extent are ACCC involved with us on those? They aren't involved in that.

Joshua Reid: On that last point, Mel, I think you said to what extent are ACCC involved with us on those. They are not involved in that. That is something we are doing independently of them. It is not something that we are liaising with ACCC directly on at this point.

Speaker #2: This is something we're doing independently of them. It's not something that we're liaising with the ACCC directly on at this point.

Speaker #1: Thank you. And maybe just to continue with that, Jason, you touched on it in terms of compliance and customers. But could you maybe talk about your pipeline conversion rate with customers, and if the proceedings have affected the group's ability to win new business at all?

[Company Representative] (Credit Clear): Thank you. Maybe just to continue with that, Jason, you touched on it in terms of compliance and customers. Could you maybe talk about your pipeline conversion rate with customers and if the proceedings have affected the group's ability to win new business at all?

Mel Singh: Thank you. Maybe just to continue with that, Jason, you touched on it in terms of compliance and customers. Could you maybe talk about your pipeline conversion rate with customers and if the proceedings have affected the group's ability to win new business at all?

Speaker #2: Yeah, I'll take that in the first instance. In terms of the impact on the operations at the moment, Mel, the impact has been immaterial.

Joshua Reid: Yeah, I will take that in the first instance. In terms of the impact on the operations at the moment, Mel, the impact has been immaterial, particularly if we look at the existing client base. The clients have been generally very supportive. If we look almost at a worst case scenario at the moment, estimate of current impact is probably 1%, maybe 2% of group revenue, and that is if you are being conservative. That equally does not mean that the revenue ceases immediately from what is a very small number of clients that have been asking questions. What it has led a little bit to, as Jason said, is an increase in out-of-cycle client reviews, and all of those have come up very well. At this stage, as I say, the impact has been immaterial.

Speaker #2: Particularly if we look at the existing client base, the clients have been generally very supportive. If we look, almost at a worst-case scenario at the moment, the estimate of current impact is probably 1%, maybe 2% of group revenue, and that's if you've been conservative.

Speaker #2: So that does not, and that equally doesn't, mean that the revenue ceases immediately from what is a very small number of clients that have questioned—that have been asking questions.

Speaker #2: So what it has led to a little bit, as Jason sort of said, is an increase in out-of-cycle client reviews. And all of those have come up very, very well.

Speaker #2: So, at this stage, as I say, the impact has been immaterial in terms of new clients. We continue to win and progress new business opportunities, particularly in the UK, which is a key focus, and to get the sales momentum up there, particularly in DTS.

Joshua Reid: In terms of new clients, we continue to win and progress new business opportunities, particularly in the UK as a key focus, and to get the sales momentum up there, particularly in DTS. DTS is a really good, strong business, but having come out of a corporate the way it had, it did not have an over or a strong sales and growth culture. We see good opportunity there and also in the SaaS area and those digital sales, we see good opportunities there. The pipeline there is good. Our prospect list is good. Possibly the ACCC matter has led to longer sales conversion cycles. They have probably had extended internal reviews and procurement processes as a result. But Eddie and the team have a good pipeline and really good discussions occurring with clients.

Speaker #2: DTS has been—it's a really good, strong business, but having come out of a corporate the way it had, it didn't have an overt or a strong sales and growth culture.

Speaker #2: So we see good opportunity there, and also in the SaaS area and those digital sales, we see good opportunities there. So the pipeline is good, our prospect list is good. Possibly the ACCC matter has led to sort of longer sales conversion cycles.

Speaker #2: They've probably had sort of extended internal reviews and procurement processes as a result, but Eddie and the team have a good pipeline and really good discussions occurring with clients.

Speaker #2: So, particularly on sort of new business, it's probably more an issue of timing. But with existing clients, new business can also mean existing clients giving you sort of increasing work, and our performance on our panels has been really, has been good over the period—probably better than good.

Joshua Reid: Particularly on new business, it is probably more an issue of timing. But new business can also mean existing clients giving you increasing work, and our performance on our panels has been good over the period, probably better than good.

[Company Representative] (Credit Clear): Josh, just further to that, could you maybe talk to the financial resilience of Credit Clear given the uncertainty around the proceedings? Has the board stress-tested Credit Clear's balance sheet for potential penalties? Under what range of outcomes could the group fund these costs from existing facilities without needing to raise additional equity?

Mel Singh: Josh, just further to that, could you maybe talk to the financial resilience of Credit Clear given the uncertainty around the proceedings? Has the board stress-tested Credit Clear's balance sheet for potential penalties? Under what range of outcomes could the group fund these costs from existing facilities without needing to raise additional equity?

Speaker #1: Josh? And just further to that, could you maybe talk to the financial resilience of Credit Clear, given the uncertainty around the proceedings? Has the board stress-tested Credit Clear's balance sheet for potential penalties?

Speaker #1: And under what range of outcomes could the group fund these costs from existing facilities without needing to raise additional equity?

Speaker #2: Yeah, well, look, in the presentation, I spoke about the strength of the balance sheet. There's a net cash position of $17 million. The balance sheet's never been in a stronger position.

Joshua Reid: Well, look, in the presentation, I spoke about the strength of the balance sheet. There is a net cash position of AUD 17 million. The balance sheet has never been in a stronger position. That is probably about as simple as that, Mel.

Speaker #2: So yeah, that's probably about as simple as that, Mel.

[Company Representative] (Credit Clear): Josh, we have James Phillips online from Morgans. James, you are open to ask your questions.

Mel Singh: Josh, we have James Phillips online from Morgans. James, you are open to ask your questions.

Speaker #1: Josh? We have James Phillips on the line from Morgan's. James, you're open to ask your questions.

Speaker #3: Yeah, thanks, Mel. And yeah, welcome to the Credit Clear team, Josh. Thank you. I just wanted to ask a question. Obviously, you called out that you've won a tier one customer in Arc Europe.

James Phillips: Yeah, thanks, Mel. Welcome to the Credit Clear team, Josh.

James Filius: Yeah, thanks, Mel. Welcome to the Credit Clear team, Josh.

Joshua Reid: Thank you, James.

James Phillips: Thank you. I just wanted to ask a question. Obviously, you called out that you have won a tier 1 customer in Arc Europe, which is going to go live in September. I guess, how should we think about the ramp-up of that tier 1 customer? I think historically there has been a bit of a lag in onboarding volumes as customers sign up. Can you sort of talk us through, I guess, your expectations and sort of help us think through the ramp-up of that and how it sort of plays into the guidance for 2027 as well?

James Filius: Thank you. I just wanted to ask a question. Obviously, you called out that you have won a tier 1 customer in Arc Europe, which is going to go live in September. I guess, how should we think about the ramp-up of that tier 1 customer? I think historically there has been a bit of a lag in onboarding volumes as customers sign up. Can you sort of talk us through, I guess, your expectations and sort of help us think through the ramp-up of that and how it sort of plays into the guidance for 2027 as well?

Speaker #3: Which is going to go live in September. I guess, how should we think about the ramp-up of that Tier One customer? I think historically, there's been a bit of a lag in onboarding volumes as customers sign up.

Speaker #3: But can you sort of talk us through, I guess, your expectations, and help us think through the ramp-up of that, and how it plays into the guidance for '27 as well?

Speaker #2: Well, our guidance is based—I'll let you, Jason, perhaps speak about that specific client. But in terms of the guidance, that's based on internal budgeting, and the internal budgeting is, unsurprisingly, a ground-up budgeting process where each business puts forward their plans and growth plans and what have you.

Joshua Reid: Well, our guidance is based. I will let Jason perhaps speak about that specific client. In terms of the guidance, I mean, that is based on internal budgeting, and the internal budgeting is unsurprisingly a ground-up budgeting process where each business puts forward their plans and growth plans and what have you. As part of that, in the internal budgeting, the Arc Europe business shows a pleasing amount of growth compared to the investment case. As part of that, the phasing of that new tier 1 client is sort of reflected in the guidance. Jason, you are probably better off speaking about the timeline with which these start becoming sort of mature revenue earners.

Speaker #2: So as part of that, in the internal budgeting, the Arc Europe business shows a pleasing amount of growth compared to the investment case, and as part of that, the phasing of that new tier one client is sort of reflected in the guidance.

Speaker #2: But Jason, you're probably better off speaking about the timeline with which these start becoming sort of mature revenue earners.

Jason Serafino: Yeah. As you said, Joshua, that is included in the guidance there, James. Yeah, it is similar to, as we have said here in Australia. Quite commonly, your onboarding process is 3 months by the time everybody, particularly with the tier 1, have been through all these checks and balances. Really quite commonly, it takes your first 6 to 12 months is really proving results, getting deeper allocations. It does usually grow slowly, particularly with these tier 1s over that kind of course. That again, has been included in the guidance for this year.

Speaker #4: Yeah, as you said, Joshua, that is included in the guidance there, James. And, yeah, it's similar to what we've said here in Australia.

Speaker #4: So, quite commonly, your onboarding process is three months by the time everybody, particularly with the tier one, has been through all their checks and balances.

Speaker #4: And really, quite commonly, it takes your first 6 to 12 months to really prove results, getting deeper allocations, so it does usually grow slowly, particularly with these tier ones over that kind of course.

Speaker #4: But that, again, has been included in the guidance for this year.

Speaker #3: Maybe just to unpack further, I guess you guys talked to a pretty robust pipeline of opportunities that are out there for the year ahead.

James Phillips: Maybe just to unpack further, I guess you guys talked to a pretty robust pipeline of opportunities that are out there for the year ahead. How many, I guess, would you consider within the pipeline to be at that tier 1 sort of level, and even tier 2, just so we can sort of think through, I guess, the opportunity set?

James Filius: Maybe just to unpack further, I guess you guys talked to a pretty robust pipeline of opportunities that are out there for the year ahead. How many, I guess, would you consider within the pipeline to be at that tier 1 sort of level, and even tier 2, just so we can sort of think through, I guess, the opportunity set?

Speaker #3: How many, I guess, would you consider within the pipeline to be at that tier-one sort of level? And even tier two, just so we can sort of think through, I guess, the opportunity set?

Speaker #4: Yeah, I don't have that in front of me. And I want to be clear that this is a pipeline that's building, so I don't think we're at a point to say we want to start counting them in just yet.

Jason Serafino: Yeah, I don't have that in front of me, and I want to be clear that this is a pipeline that's building. I don't think we're at a point to say we want to start counting them in just yet. It's fairly early days. I think we can provide more information on that a little bit further down the track.

Speaker #4: It's still fairly early days, so I think we can provide more information on that a little bit further down the track.

Speaker #2: Yeah, I mean, I think it's better just I think that you're at risk of making it more business slightly you're at risk of making it slightly more complicated than it needs to be.

Joshua Reid: Yeah, I think that you're at risk of making it slightly more complicated than it needs to be. I guess the guidance reflects our current view of the next 12 months. We're constantly talking to new clients, new opportunities. But look, there's other growth opportunities. If I look at the ARMA business, it's got a large number of clients we've called out at 500 plus. There's a lot of opportunity. The new news is always new and sexy, but there's a lot of opportunities within existing relationships where we're probably not optimizing the revenue with existing customers. I think sort of only focusing on the new possibly doesn't look at all the opportunities that might be there. And Eddie and the team here in Australia and the sales team are constantly looking at enhancing and growing the existing client relationships as well.

Speaker #2: I guess the guidance reflects our current view of the next 12 months. We're constantly talking to new clients, new opportunities, but look, there's other growth opportunities.

Speaker #2: If I look at the armor business, it's got a lot of a large number of clients. We've called out at 500 plus. There's a lot of opportunity the new news is always new and sexy, but there's a lot of opportunities within existing relationships where we're probably not optimizing the revenue with existing customers.

Speaker #2: So I think sort of only focusing on the new, new, possibly doesn't look at all the opportunities that might be there. And Eddie and the team here in Australia, in the sales team, are constantly looking at enhancing and growing the existing client relationships as well.

Speaker #3: Understood. Thanks for that. I appreciate the questions.

James Phillips: Understood. Thanks for that. Appreciate the questions.

James Filius: Understood. Thanks for that. Appreciate the questions.

[Company Representative] (Credit Clear): Josh, Jason, are you looking to target school fees with the digital collections business? It would be a natural fit, asks Scott.

Mel Singh: Josh, Jason, are you looking to target school fees with the digital collections business? It would be a natural fit, asks Scott.

Speaker #1: Josh, Jason, are you looking to target school fees with the digital collections business? It would be a natural fit, as Scott.

Speaker #4: Yeah, it's actually something that has been in discussion. We do a small part of that, so no doubt Eddie is looking at that. But maybe there's a broader kind of point here around targeting niche markets and adjacent markets.

Jason Serafino: Yeah. It's actually something has been in discussion. We do a small part of that. No doubt Eddie is looking at that. Maybe there's a broader kind of point here around targeting niche markets and adjacent markets. We've been really successful at doing that in the insurance space with a specific product for collecting or engaging and collecting on third-party at-fault motor vehicle claims. You see the same thing with DTS in New Zealand with a niche piece around libraries, which have been very successful there. It's a really good call out and exactly the kind of niches that we are targeting.

Speaker #4: We've been really successful at doing that in the insurance space, with a specific product for engaging and collecting on third-party motor vehicle claims.

Speaker #4: You see the same thing with DTS in New Zealand, with a niche piece around libraries, which have been very successful there. So, it's a really good callout and exactly the kind of niches that we are targeting.

[Company Representative] (Credit Clear): Thank you. Finally, can we ask what is the current status of the share buyback?

Mel Singh: Thank you. Finally, can we ask what is the current status of the share buyback?

Speaker #1: Okay, and finally, can we ask: What is the current status of the share buyback?

Speaker #2: Yeah, there are approximately 13 million shares still available under the original share buyback plan. At this point, the Board is still considering its position as to whether we'll continue that.

Joshua Reid: Yeah, there's approximately 13 million shares available still left under the original share buyback plan. At this point, yeah, the board's still considering its position as to whether we'll continue that.

[Company Representative] (Credit Clear): Josh, that brings us to the end of the Q&A segment, so I will pass back to you for final comments.

Mel Singh: Josh, that brings us to the end of the Q&A segment, so I will pass back to you for final comments.

Speaker #1: Josh? That brings us to the end of the Q&A segment, so I'll pass back to you for final comments.

Speaker #2: Okay, well, thank you, Mel. And thanks, everyone, for joining us. As I always say, we're all very pleased with the way the 2026 year has gone.

Joshua Reid: Well, thank you, Mel, and thanks everyone for joining us. As I sort of say, we are all very pleased with the way the 2026 year has gone. The results are good. The business is really well positioned. We have got a great team here. It is a strong, robust team. The last couple of months, there has been some ups and downs. But the core of this business is really strong and pleased with the results. Looking forward to next year. As one year ends, the next one begins. That is what we are really focused on. So thank you, Mel.

Speaker #2: The results are good. The business is really well positioned. We've got a great team here—it's a strong, robust team. The last couple of months, there have been some ups and downs.

Speaker #2: But the core of this business is really strong, and we're pleased with the results. Looking forward to next year: as one year ends, the next one begins.

Speaker #2: So there's that's what we're really focused on. So thank you, Mel.

Operator: Goodbye

Browse all earnings call transcripts

Full Year 2026 Credit Clear Ltd Earnings Call

Request TrialDemo

Credit Clear

Earnings