Flexiroam Ltd · ASX:FRX
Flexiroam — H1 FY26 Earnings Presentation
22 slides from Flexiroam's earnings presentation, Feb 5, 2026
Slide 1: Investor Presentation ASX announcement
5 February 2026 INVESTOR PRESENTATION FlexiRoam Limited (ASX:FRX) ("FlexiRoam" or "the Company") is pleased to provide the investor presentation titled “AI-Powered Global Connectivity Platform”. The presentation contains new information on the Company’s performance for the six months ended 31 Decemb
Slide 2: AI-Powered Global Connectivity Platform
AI-Powered Global Connectivity Platform Investor Presentation ASX: FRX
Slide 3: Important Notice & Disclaimer
Important Notice & Disclaimer General Forward-Looking Statements This presentation has been prepared by FlexiRoam Limited (ASX:FRX) ("FlexiRoam" or the "Company") on, future earnings and financial position and performance are also forward-looking statements. and approved by the Board of Directors on
Slide 4: Investment Highlights
Investment Highlights 1 Proven Turnaround 2 Enterprise Momentum 3 AI-Native Tech Advantage H1 FY26 vs H1 FY25: • Generali partnership secured (Dec 2025)4 • World’s first AI eSIM agent6 (Dec 2025) • Underlying EBITDA1: $2.0m vs -$1.0m • Dialog national IoT rollout (Jan 2026)5 • “App-less” experience
Slide 5: Who We Are: Global Connectivity Platform
Who We Are: Global Connectivity Platform 600+ 190+ 15+ 20+ Carrier Partners Countries & Territories Years Operating Airline Partners Industries We Serve Airlines Banks Insurance Payments Crew & Passenger Connectivity High-Value Customer Perks Value-Added Travel Benefits mPOS Terminals FlexiRoam (ASX
Slide 6: What We Do: Global Mobile Data Solutions
What We Do: Global Mobile Data Solutions ~90% ~10% REVENUE1 REVENUE1 Travel Connectivity B2B Solutions Providing global data roaming for international travellers directly via Mission-critical connectivity for IoT devices, corporate fleets, and FlexiRoam mobile app or website, or via our brand partne
Slide 7: Travel Connectivity: Two Reinforcing Channels
Travel Connectivity: Two Reinforcing Channels Direct-to-Consumer Brand Partnerships Innovation Engine Growth Engine Travellers buy eSIM data plans directly for international trips. Brands fund travel data as a loyalty perk to acquire and retain customers. eSIM Plans: Premium travel plans (single SIM
Slide 8: 13 Month Transformation: Operational Reset to AI Acceleration
13 Month Transformation: Operational Reset to AI Acceleration Phase 1: The Reset Phase 2: The Acceleration Leadership Profitability AI Platform IoT Payments Reset Achieved Launch Partner Secured Founder Jefrey Ong Turnaround to Launches World’s Secures Dialog for appointed CEO1 profitability (H2 FY2
Slide 9: Profitable + Cash Flow Positive
Profitable + Cash Flow Positive Underlying EBITDA +$3.0m to $2.0m1,2 Underlying Opex -52.9% to $2.4m1,2 Operating Cash Flow +$2.8m to $1.9m1 Turnaround to profitability Turnaround to cash flow positive Record High $2.0m $5.1m $1.9m $1.6m 3 $2.4m $2.4m -$0.9m -$1.0m -$2.2m H1 FY25 H2 FY25 H1 FY26 H1
Slide 10: Gross Margin Expansion + Higher Recurring Mix
Gross Margin Expansion + Higher Recurring Mix Gross profit +4.9% to $4.3m1 Gross margin +19.2pp to 72.7%1 Recurring mix +11.4pp to 48.0%1,2 Exit from low margin revenue $7.6m 72.7% 66.5% 48.0% $6.0m $5.9m 43.1% 53.5% 36.6% $4.3m $4.1m $4.0m H1 FY25 H2 FY25 H1 FY26 H1 FY25 H2 FY25 H1 FY26 H1 FY25 H2
Slide 11: Balance Sheet Strengthened – Liquidity + Cash Up
Balance Sheet Strengthened – Liquidity + Cash Up Net current assets +$6.5m to $0.3m1 Net Assets +5.7m to $4.2m1 Cash Balance +2.0m to $3.2m1 Working capital back to positive Equity base rebuilt $0.3m $3.2m $4.2m $2.5m -$1.3m $1.6m $1.2m -$6.2m -$1.5m Dec-24 Jun-25 Dec-25 Dec-24 Jun-25 Dec-25 Dec-24
Slide 12: eSIM: The Infrastructure Layer for Global Travel
eSIM: The Infrastructure Layer for Global Travel What is an eSIM? Why travellers don’t just roam A digital SIM you download to your phone (no physical SIM) • Avoid bill shock and control spend with a fixed data plan • 72% of mobile users are on prepaid plans1 with limited roaming How travellers use
Slide 13: Opportunity: eSIM Adoption Unlocks a New Brand Channel
Opportunity: eSIM Adoption Unlocks a New Brand Channel Precedent Global eSIM Adoption Forecast US Smartphone Adoption5 Precedent 100% 100% Majority smartphone adoption → 90% 90% mobile dominating digital media 77% 76%4 80% 80% 70% 70% 58% 2018: Mobile surpasses Adoption 60% 60% TV ad spend.7 50%1 eS
Slide 14: Problem: eSIM is Still High-Friction
Problem: eSIM is Still High-Friction For Travellers For Brands App Aversion (App Fatigue) Long Integration Cycles Forcing users to download another app for a single trip Launching connectivity traditionally takes months of API leads to high abandonment. work.1 eSIM Setup is Confusing High Technical
Slide 15: Solution: AI Agents Make eSIMs Seamless
Solution: AI Agents Make eSIMs Seamless World's First AI eSIM Agent1 Launched Dec 2025 FlexiRoam’s AI agent lets travellers discover, purchase, activate and manage eSIM connectivity inside a chat. No App Download Required Works entirely within WhatsApp—an app travellers already have. AI-Guided Setup
Slide 16: Brands: Zero-Integration Deployment in Days, Not Months
Brands: Zero-Integration Deployment in Days, Not Months The Old Way The FlexiRoam Way Zero Integration Traditional eSIM API AI-Powered Agent Complex Integration Zero-Integration Launch Deep API work across apps + backend systems Partners share a WhatsApp link. FlexiRoam handles provisioning + suppor
Slide 17: Market Size: $65B Spend + 6.3B Distribution Moments
Market Size: $65B Spend + 6.3B Distribution Moments All figures on this slide are in USD Brand Budget Brand Distribution $65B Budget Pool (Acquisition + Rewards) ~6.3B Annual Moments to Bundle Connectivity Moment = booking, loyalty member, or card issuance where connectivity can be included $65.3B B
Slide 18: AI-Native Platform: Driving Growth, Margins & Efficiency
AI-Native Platform: Driving Growth, Margins & Efficiency Distribution Underwriting Automation AI eSIM Agent AI Pricing Model AI Automation • Zero-integration partner launch: shareable link; • Proprietary data: 15+ years operation and 5+ • Agentic support (not a bot): Autonomous end- no SDK, no app u
Slide 19: Outlook: Disciplined Growth from Financial Strength
Outlook: Disciplined Growth from Financial Strength Scale Brand + Enterprise Partnerships Grow Profitably Primary Growth Driver Financial Discipline Use zero-integration distribution to expand existing partners and win Pursue revenue growth while maintaining positive Underlying EBITDA1 new programs
Slide 20: Founder-Led with Deep Telecom, Tech & Financial Expertise
Founder-Led with Deep Telecom, Tech & Financial Expertise Jefrey Ong Grant Wong Jonathan Kendall CEO & Founder; Executive Director CFO Director - Strategic Partnerships • Founded FlexiRoam in 2011. Startup to ASX listing. • Head, Finance & Corp Dev, Credible (acquired by Fox) • VP - Move, Tata Commu
Slide 21: Definitions
Definitions Term Definition Recurring mix Recurring Revenue ÷ total revenue for the period, expressed as a percentage. Recurring Revenue Revenue expected to repeat under ongoing customer or partner arrangements, including contracted fixed fees and contracted usage-based fees, excluding one-off items
Slide 22: FlexiRoam Limited Investor Relations Website
FlexiRoam Limited Investor Relations Website ASX Code investor@flexiroam.com www.flexiroam.com FRX