Change Financial Ltd · ASX:CCA
Change Financial — Q4 FY26 Earnings Presentation
22 slides from Change Financial's earnings presentation, Jul 24, 2026
Slide 1: Q4 FY26 Investor Presentation
For personal use only Q4 FY26 Investor Presentation 24 July 2026
Slide 2: Delivering Innovative & Scalable Payments Solutions
Delivering Innovative & Scalable Payments Solutions Change provides tailored payment solutions, card issuing & testing to 150+ banks & fintechs across 40+ countries Payment solutions Two core proprietary technology platforms owned & developed in-house provider driving innovation in the banking ecosy
Slide 3: Key Highlights
Key Highlights Delivered on upgraded FY26 revenue & Underlying EBITDA guidance Achieved a 3-year FY26 revenue (unaudited) of US$18.2m (A$26.0m)¹, up 21% on FY25 revenue Compound Annual Growth Rate FY26 Underlying EBITDA (unaudited)² of US$3.3m (A$4.7m)¹, up 17x on FY25 (CAGR) of 28% to FY26 – Pa
Slide 4: Vertexon PaaS Metrics & Revenue Model
Vertexon PaaS Metrics & Revenue Model Active Cards (thousands) PaaS platform scaling 150k+ cards active in AU & NZ 200 with volume increasing Up 11% quarter on quarter (QoQ) and 104% on prior 150 as card numbers corresponding period (pcp) 100 continue to grow Growth in existing client base – particu
Slide 5: Accelerating PaaS Growth
Accelerating PaaS Growth 3.4 Change is powering the payments of leading financial institutions & fintechs across Australia & NZ 3.2 Growing client base 3.0 which is continuing to PLATFORM LIVE PLATFORM LIVE NEW ZEALAND AUSTRALIA 2.8 drive PaaS revenue 2.6 growth Currently onboarding four new PaaS 2.
Slide 6: Increasing Sales Momentum in Q4
Increasing Sales Momentum in Q4 Deals Closed Won in Q4 Expanding pipeline Vertexon – 7 SE Asia opportunities totaling US$0.6m (A$0.9m) depth across both product lines while 4 PaaS clients in final contracting phase building a higher- PaySim – 6 opportunities totaling US$0.1m (A$0.2m) quality revenue
Slide 7: Financial Update – Q4 FY26
Financial Update – Q4 FY26 PaaS now a major Q4 FY26 revenue of US$4.6m (A$6.6m¹), up 16% on pcp Revenue by Quarter (US$m) contributor to revenue Increasing PaaS revenue & expanding gross profit margin 4.6 4.7 4.6 (refer next slide) 4.3 4.0 3.9 3.7 New licence sales and professional services projects
Slide 8: Financial Update – Q4 FY26 (cont.)
Financial Update – Q4 FY26 (cont.) Revenue growth PaaS platform delivering operating leverage with scale - Q4 cash receipts of US$4.1m (A$5.9m¹), leading to positive coupled with a stable material gross profit margin expansion of 600 bps in FY26 net operating cashflows of US$0.6m (A$0.9m) from 26% t
Slide 9: Key Focus on Accelerating Growth & Scale
Key Focus on Accelerating Growth & Scale Business focus on 1 Direct Client Acquisition & Retention securing client wins in Sales team repositioned to outbound sales hunting core target markets Refreshed Sales enablement materials including new website in FY27 to increase lead generation Vertexon For
Slide 10: Outlook
Outlook Continued growth in FY27 Vertexon PaaS (recurring) revenue driven by: Onboarding of four contracted clients – all forecasted to be ‘live’ and transacting in H1 FY27 Four clients currently in final contracting phase + new client wins from sales pipeline Strong focus on migrating SE As
Slide 11: Investment Highlights
Investment Highlights Strong Foundations Growth & Scale Focus Marquee Customers All regulatory & licensing requirements 70%+ of revenue from recurring Strong validation of PaaS platform with for card issuing via Vertexon in AU & revenue streams financial institution & fintech clients in For personal
Slide 12: Appendix
For personal use only Appendix
Slide 13: 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 14: Vertexon Product Offering
Vertexon Product Offering Vertexon offering can Processing Processing & Issuing be tailored by client to • Provide core technology to enable card issuing & • Provide Processing capability + the following key card offer services that best management including: Issuing capabilities: suit client & end
Slide 15: 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 16: 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 17: 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 18: PaySim – Critical Payments Infrastructure Testing Tool
PaySim – Critical Payments Infrastructure Testing Tool PaySim enhances Simulates the full transaction lifecycle, enabling banks & fintechs to complete speed to market for end-to-end testing of their payment platforms, processes & scheme rule PaySim is an all-in-one modular clients by delivering co
Slide 19: PaySim Market Overview – Global
PaySim Market Overview – Global Extremely powerful modular end-to-end payments testing & certification solution embedded into tier 1 banking & payments institutions globally Core based on global messaging standard ISO 8583 & ISO 20022 Default standard & benchmark for EFTPOS testing in Australi
Slide 20: Building the Commercial Team to Drive Growth
Building the Commercial Team to Drive Growth Change continues to strengthen and evolve its sales team to be focused on outbound sales ‘hunting’ for Vertexon (Australia) & PaySim (Global) given the significant market opportunity For personal use only VP Bus. Dev. (Vertexon & PaySim) Asia Pacific Ch
Slide 21: 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 22: Thank you.
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