Slide 1: Investor Presentation FY24 Full Year Results
For personal use only Investor Presentation FY24 Full Year Results 2 September 2024
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 to 150+ Payments solutions banks & fintechs across 40+ countries provider driving Two core products in the banking & payments
Slide 3: Key Highlights
Key Highlights FY24 revenue of US$10.6m (A$15.8m), up 22% on FY23 Record revenue year driven by an increase in H2 FY24 revenue of US$6.2m (A$9.3m), up 39% on pcp professional services revenue and an increasing contribution US$10.6m 22% 40k+ 59% For personal use only from PaaS clients PCP (A$15.8
Slide 4: FY24 Financial Results
For personal use only FY24 Financial Results
Slide 5: Financial Dashboard
Financial Dashboard Geographically diverse Revenue (US$m) – H1 vs H2 Revenue by Quarter (US$m) client base providing a 10.6 3.2 3.0 platform for future 8.7 8.3 2.4 2.3 2.4 2.3 growth and expansion 2.1 2.0 2.0 2.2 6.2 1.9 1.9 4.5 4.4 For personal use only 3.8 4.3 4.5 H1 H2 FY22 FY23 FY24 FY22 FY23 FY
Slide 6: Profit & Loss
Profit & Loss Profit & Loss Summary Material EBITDA Key Comments (US $000's) FY24 FY23 Var % improvement driven by Revenue 10,639 8,709 22.2% FY24 revenue of US$10.6m (A$15.8m), up 22% on pcp revenue growth and COGS (1,402) (567) 147.4% Record revenue year stable fixed cost base Gross Profit 9,237 8
Slide 7: Balance Sheet
Balance Sheet Balance Sheet Focus on delivering Key Comments (US $000's) FY24 FY23 profitable growth to Cash & equivalents 2,591 5,351 Cash balance of US$2.6m (A$3.9m) with an additional US$0.5m strengthen the balance (A$0.8m) held in cash-backed security guarantees relating to card Receivables 2,05
Slide 8: Cashflow
Cashflow Cashflow Continued investment (US $000's) FY24 FY23 Key Comments in Vertexon as the Receipts from customers 10,485 9,548 Revenue growth driving increase in customer receipts platform launched in all Payments to suppliers / employees (11,103) (10,194) three core target Other 154 (414) Increa
Slide 9: FY24 Operational Results
For personal use only FY24 Operational Results
Slide 10: Vertexon PaaS Metrics
Vertexon PaaS Metrics PaaS platform starting Vertexon PaaS platform fully live and operational in Active Cards (thousands) to scale with volumes Australia, NZ & US in FY24 35 increasing as cards Major client onboarding milestones now complete 30 migrate to Change 9 clients now live on Vertexon PaaS
Slide 11: Delivering on Key Milestones – FY24 Highlights
Delivering on Key Milestones – FY24 Highlights Clear and focussed 1 Shared Success & Growth operational roadmap to Complete migration of NZ financial institution client cardholders to drive transactional revenue growth – COMPLETE deliver shareholder value Complete onboarding of US clients – COMPLETE
Slide 12: Delivering on Key Milestones – FY24 Highlights (cont.)
Delivering on Key Milestones – FY24 Highlights (cont.) Clear and focussed 2 Operational Excellence operational roadmap to deliver shareholder Achieve go-live for NZ EFTPOS acceptance – COMPLETE value Strong base operations and capabilities in place – continue to refine, improve and streamline as vol
Slide 13: Outlook
For personal use only Outlook
Slide 14: Revenue Drivers & Outlook
Revenue Drivers & Outlook PaaS platform starting Actuals (US$m) Revenue Build (US$m) to scale with volumes 16.0 increasing as cards 14.0 migrate to Change Contracted Recurring Revenue 12.0 For personal use only 10.6 3 5 10.0 1.1 2 8.7 + 4 8.0 3.1 1.3 + 6.0 1.9 1 1.3 4.0 Support & Maintenance PaaS 4.
Slide 15: Outlook
Outlook PaaS clients now onboarded and contributing material revenue in FY25 Positive outlook as Change builds Existing clients providing reference-ability – a key factor in the selection process for potential clients momentum and continues to scale Targeting FY25 revenue growth in excess of 3
Slide 16: Capital Raising to Support Growth
Capital Raising to Support Growth Transaction Overview Capital raising strengthens the balance Offer Size Up to A$4.25 million, via issue up to approximately 56.7 million fully paid ordinary shares sheet and supports the A successful A$3.50m placement to new and existing institutional, sophistic
Slide 17: Investment Highlights
Investment Highlights Following a significant Building Blocks Now Entering Growth & Scale Marquee Customers period of investment, In Place Phase Change is entering the commercialisation All regulatory and licensing FY24 revenue of US$10.6m (A$15.8m) Early validation of PaaS platform via phase with a
Slide 18: Appendix
For personal use only Appendix
Slide 19: 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 20: 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 21: Vertexon issuing capabilities
Vertexon issuing capabilities All regulatory and Change has completed all necessary regulatory and licensing requirements to enable card issuing in Australia, NZ and the US licensing requirements Change can issue debit and prepaid cards in Australia, NZ and the US for card issuing in Mastercard Prin
Slide 22: 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 23: 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 24: Thank you. Get in touch
For personal use only Thank you. Get in touch investors@changefinancial.com