Change Financial Ltd · ASX:CCA
Change Financial — Q4 FY25 Earnings Presentation
20 slides from Change Financial's earnings presentation, Jul 29, 2025
Slide 1: Q4 FY25 Investor Presentation
For personal use only Q4 FY25 Investor Presentation 29 July 2025
Slide 2: Delivering innovative and scalable payments solutions
Delivering innovative and scalable payments solutions Change leverages innovative and scalable technology to provide tailored payment solutions, card issuing and testing Payment solutions to 150+ banks & fintechs across 40+ countries provider driving Two core products in the banking & payments ecosy
Slide 3: Key Highlights
Key Highlights New Vertexon PaaS client with already established programs signed in Australia and NZ Record revenue driven Signed a number of new projects and licences with existing Vertexon On-Premises and new PaySim clients by increasing PaaS revenues FY25 revenue (unaudited) of US$15.1m (A$
Slide 4: Vertexon PaaS Metrics
Vertexon PaaS Metrics PaaS platform scaling 73k+ cards active in AU & NZ Active Cards (thousands) with volume increasing Steady growth in existing client base – particularly from 80 as card numbers fintech clients 70 60 continue to grow New clients already signed to drive further growth – 50 current
Slide 5: Reducing launch timelines and accelerating PaaS Growth
Reducing launch timelines and accelerating PaaS Growth PLATFORM LIVE PLATFORM LIVE 3.4 Program launch NEW ZEALAND AUSTRALIA 3.2 timelines reducing 3.0 Embedded Finance given PaaS platform Fintech (AU & NZ) PLATFORM BUILD PHASE (Processing & Issuing) 2.8 fully live and 2.6 operational NZ Fintech For
Slide 6: Financial Update – Q4 FY25
Financial Update – Q4 FY25 PaaS now a major Q4 FY25 revenue of US$4.0m (A$6.2m¹), up 26% on pcp Revenue by Quarter (US$m) contributor to revenue Record revenue quarter 3.9 4.0 3.7 Growth driven by increasing PaaS revenue 3.5 3.2 3.0 Solid base of Support & Maintenance clients 2.3 2.3 2.4 2.2 Continu
Slide 7: Financial Update – Q4 FY25 (cont.)
Financial Update – Q4 FY25 (cont.) Exiting the US Significant improvement in net cash flows from operating Cash Receipts by Quarter (US$m) operations is delivering activities in FY25 primarily due to: 4.3 significant cost savings Materially higher cash receipts driven by PaaS clients 3.7 3.8 3.6 3.4
Slide 8: Large Market Opportunity
Large Market Opportunity Strengthened the Sales Vertexon PaaS – ANZ Opportunity PaySim – Global Opportunity team in FY25 with the Banking in ANZ is dominated by the big banks Powerful modular end-to-end payments testing and appointment of 2 x certification solution with a global client base Leveragi
Slide 9: FY25 Results Update & FY26 Outlook
FY25 Results Update & FY26 Outlook Exceeded FY25 revenue guidance & expected to deliver maiden positive Underlying EBITDA Positive outlook as Change builds FY25 revenue (unaudited) of US$15.1m (A$23.2m¹), up 42% on FY24 momentum and Delivered 3-year revenue Compound Annual Growth Rate (CAGR) o
Slide 10: Investment Highlights
Investment Highlights With strong Building Blocks In Place Growth & Scale Focus Marquee Customers foundations in place, Change is focussed on delivering profitable Platform live in AU & NZ FY25 revenue (unaudited) of Strong validation of PaaS platform with growth All regulatory and licensing US$15.1
Slide 11: Appendix
For personal use only Appendix
Slide 12: Vertexon in the payments process
Vertexon in the payments process Change’s role in the Processing: An Issuer (Change’s client) using the Vertexon Processing: Customer pays with card (all card networks payments process Platform (technology only) to manage their cards – client is supported) & purchases goods/services from merchant
Slide 13: Vertexon product offering
Vertexon product offering Vertexon offering can Processing Processing & Issuing be tailored by client to • Provide core technology to enable card issuing and • Provide Processing capability + the following key card offer services that best management including: Issuing capabilities: suit client and
Slide 14: Market Overview – New Zealand
Market Overview – New Zealand Banking in New Zealand is dominated by the Big 4 banks 27 registered banks plus several credit unions & building societies No payment aggregation services providers for smaller players & historically limited innovation outside the Big 4 Banks Estimated that smal
Slide 15: Market Overview – Australia
Market Overview – Australia Australian Annual Transaction Volume by Type of Retail Payment 1 Card based payments now dominate 12 Scheme & EFTPOS Debit Cards Total Number of Transactions transaction volume in 10 Australia 8 (billions) 6 For personal use only 4-Party & 3-Party Credit & Charge Cards 4
Slide 16: Market Overview – Australia (cont.)
Market Overview – Australia (cont.) Whilst the Big 4 banks have a significant position in the Australian card issuing market, there is a materially larger opportunity than in New Zealand Change is seeking to leverage the recent success in the NZ market to target the sizeable AU market Small to
Slide 17: PaySim Market Overview – Global
PaySim Market Overview – Global Extremely powerful modular end-to-end payments testing and certification solution embedded into tier 1 banking and payments institutions globally Core based on global messaging standard ISO8583 Default standard and benchmark for EFTPOS testing in Australia For p
Slide 18: PaySim: critical payments infrastructure testing tool
PaySim: critical payments infrastructure testing tool Software facilitates Simulates the full transaction lifecycle, enabling banks & fintechs to complete end-to-end testing of their payment remote testing platforms, processes & scheme rule compliance without the need for Enables financial insti
Slide 19: Disclaimer
Disclaimer Change Financial Important Notice This presentation has been prepared by Change Financial Limited (Change Financial) in good faith. No express or implied warranty is given as to the accuracy or completeness Limited of the information in this document or the accompanying presentation. All
Slide 20: Thank you.
For personal use only Thank you. Get in touch investors@changefinancial.com