Readcloud Ltd. · ASX:RCL
Readcloud — Shareholder Meeting (February 2026)
12 slides from Readcloud's shareholder meeting presentation, Feb 19, 2026
Slide 1: CEO Presentation – 2026 Annual General Meeting
For personal use only ReadCloud Limited CEO Presentation – 2026 Annual General Meeting
Slide 2: FY25 Highlights
FY25 Highlights Solid earnings momentum driven by strength of Australian school businesses For personal use only Up 26% Up 17% Up 109% Up 26% Up 34% VET-in-Schools Sales & Direct eBooks sales to Underlying EBITDA* Operating Cashflow Year-end Cash Fee Revenue Australian schools $5.7m $4.6m $0.8m $0.5
Slide 3: Core revenue growth and cost discipline driving earnings momentum
Core revenue growth and cost discipline driving earnings momentum For personal use only 1 Australian school sales and fee revenue growth Operating expenses % of Sales & fee revenue2 $11 m 80% $10 m 75% $9 m 70% $8 m 65% 60% $7 m 55% $6 m 50% $5 m 45% $4 m 40% $3 m 35% $2 m 30% FY21 FY22 FY23 FY24 FY
Slide 4: FY25 Summary Profit and Loss
FY25 Summary Profit and Loss $’000 30-Sept-25 30-Sept-24 YOY Ongoing earnings improvement – Sales and fee revenue 12,634 11,904 6% FY25 uEBITDA* up 109% For personal use only Less direct costs (5,338) (5,340) 0% Underlying EBITDA* Gross profit 7,295 6,564 11% Gross profit % 58% 55% FY23 FY24 FY25 75
Slide 5: FY25 Cashflow
FY25 Cashflow $’000 30-Sept-25 30-Sept-24 YOY Notes For personal use only Receipts from customers 12,558 12,042 4% Payments to suppliers and employees (12,398) (12,006) 3% • Cash generated from operating activities up 26% Research and development tax incentive refund 332 333 0% Interest income 31 33
Slide 6: ReadCloudVET (VET-in-Schools)
ReadCloudVET (VET-in-Schools) For personal use only Sales and fee revenue growth is accelerating 26% Sales and fee revenue growth, including 29% growth in VET-in-Schools partnering fees $6 m • 92% School customer retention • 11% growth in customer numbers: 55 Schools added $5 m (372 total) • 5% incr
Slide 7: ReadCloudVET (VET-in-Schools) key customer indicators
ReadCloudVET (VET-in-Schools) Key customer indicators showing sustained upward momentum For personal use only Courses per school Average partnering fee revenue per school 2.0 1.9 $14,408 1.7 $11,491 1.6 $10,450 $9,421 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 CEO Address 7
Slide 8: eBooks
eBooks 17% Growth in Australian direct eBooks sales Australian eBooks strengthening For personal use only $5 m Growth driven by: $4 m • 91% customer retention • 7 new school customers $3 m • 15% increase in average customer value $2 m FY21 FY22 FY23 FY24 FY25 • Overall eBooks sales and fee revenue g
Slide 9: Southern Solutions Training Services (Industry Training)
Southern Solutions Training Services (Industry Training) For personal use only • Southern Solutions has commitments to ~250 enrolled • $0.45m of cost-out has been implemented in FY26 students and childcare providers which it will fulfil • 1Q26 cash receipts down 66% on pcp • The unpredictability of
Slide 10: Outlook – Focus on Schools
Outlook – Focus on Schools For personal use only ReadCloud’s school-based businesses are expected to: 1. Grow revenue at 10-20%pa 2. Control operating cost increases to less than 7% 3. Add 60+ new school customers each year 4. Retain 90% of school customers 5. Generate $1m+ of uEBITDA in FY26 ReadCl
Slide 11: Corporate Snapshot
Corporate Snapshot ASX Code: RCL Substantial Shareholders For personal use only Share Price (18 February 2026) $0.082 Board and management shareholdings* 22.7% Market capitalisation (@ 8.2 cents) $12.6m Thorney Group* 12.2% Microequities Asset Management 8.7% Shares on issue 153.6m Hunmar Holdings/D
Slide 12: 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. For p