Slide 1: ReadCloud Limited 1H26 Results Presentation
ReadCloud Limited 1H26 Results Presentation 28 May 2026
Slide 2: 1H FY26 Highlights
1H FY26 Highlights • School Businesses performing well: tracking to deliver to plan and financial Sales & Fee Revenue - Continuing Operations targets $9.0 m • 15% growth in core VET-in-schools partnering revenue to $4.1m $8.5 m $8.5 m $8.1 m • Cash receipts from School customers $7.0m – up 22% on pr
Slide 3: ReadCloudVET — 1H FY26 Highlights
ReadCloudVET — 1H FY26 Highlights Continued strong growth trajectory Average courses per retained school • 385 contracted schools for 2026; 55 new schools added; retention 2.1 above 90% target 2.0 1.9 1.7 • 775 courses running in 2026 – a record, up 6% on 2025 1.6 • Average courses per retained scho
Slide 4: eBooks — 1H FY26 Highlights
eBooks — 1H FY26 Highlights • School retention 89%; 5 new schools added; average annual revenue per school tracking to exceed $84,000 in FY26 (up 18%+ on FY24) • Average customer tenure extended to 5.02 years (from 4.77 years) – rising lifetime value indicator • 2 new Schools already signed for 2027
Slide 5: Southern Solutions — Exit on Plan
Southern Solutions — Exit on Plan • Decision to exit industry training was strategic: government funding volatility resulted in this business detracting from the stronger and more differentiated ReadCloud school-facing model • Southern Solutions ceased commencing new students in 1H FY26 – wind-down
Slide 6: Group Cash Flow and Financial Position
Group Cash Flow and Financial Position • 1H26 cash receipts from school customers $7.0m, up 22% on pcp (1H25: $5.7m) • Operating cash flow from the School businesses $2.5m, up 18% on pcp (1H25: $2.1m) • Cash position $3.7m at 31 March 2026 – up from $1.9m at 30 September 2025 year-end • No debt; no
Slide 7: FY26 Targets — On Track
FY26 Targets — On Track • Target: 60+ new school customers per year | Status: Achieved at the half-year mark — 61 new schools already contracted for 2026 • Target: Retain 90%+ of school customers | Status: On track and above target • Target: Revenue growth of 10-20% per annum | Status: On track in V
Slide 8: Investment Highlights
Investment Highlights • Two focused school divisions – ReadCloudVET and eBooks – serving 440+ schools across Australia and internationally and on-track to outperform $1m+ uEBITDA* guidance for FY26 • ReadCloudVET: 90%+ gross margins, 90%+ school retention, increasing revenue per school – up 53% sinc
Slide 9: Corporate Snapshot
Corporate Snapshot ASX Code: RCL Substantial Shareholders Share Price (26 May 2026) $0.07 Board and management shareholdings* 22.7% Market capitalisation (@ 7.0 cents) $10.7m Thorney Group* 12.2% Microequities Asset Management 8.7% Shares on issue 153.6m Hunmar Holdings/Darren Hunter* 4.9% Options o
Slide 10: Additional Information
Additional Information 10
Slide 11: 1H26 Financials (Continuing Operations)
1H26 Financials (Continuing Operations) $’000 1H26 1H25 YOY 1H26 versus 1H25: Sales and fee revenue 8,521 8,069 6% • 6% Growth in Sales & fee revenue driven by: Less Direct Costs (3,802) (3,673) 4% Gross profit 4,719 4,396 7% - VET-in-schools core partnering revenue ↑ 15% Gross profit % 55% 54% - St
Slide 12: 1H26 Financials: Reconciliation of Underlying EBITDA
1H26 Financials Reconciliation of Underlying EBITDA* to Statutory profit $’000 1H26 1H25 YOY Underlying EBITDA* from continuing operations ↑ 5% to $2.1 million: Underlying EBITDA* (continuing operations) 2,094 2,003 5% Loss after tax from discontinuing operations includes Add: Net interest revenue /
Slide 13: 1H26 Financials: Balance Sheet
1H26 Financials Balance Sheet $’000 Note 31-March-26 30-Sep-25 Notes Cash and cash equivalents 3,732 1,920 1. 244% Improvement in net working capital from Trade and other receivables 3,736 802 FY25 year-end Prepayments 167 147 2. Intangible assets includes capitalised software development ($1.6m) an
Slide 14: 1H26 Financials: Cash Flows
1H26 Financials Cash Flows $’000 31-Mar-26 31-Mar-25 YOY Strong operating cash flow performance achieved even Receipts from customers 7,313 6,863 7% with $0.4 million net operating cash outflow from Payments to suppliers and employees (5,489) (5,287) 4% Industry Training for 1HFY26: R&D tax incentiv
Slide 15: Disclaimer
Disclaimer This presentation has been prepared by ReadCloud Limited (“ReadCloud”), based on information available as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision. This