OFX Group Limited (OFX) Q2 2025 Earnings Call

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WEBVTT 00:00:01.448 -- 00:00:04.611 Thank you, Ashley, and thank you, everyone, for joining the call. 00:00:04.611 -- 00:00:09.797 As Ashley mentioned, I'm joined by Selina Virth, our CFO, James Gref, who is Acting 00:00:09.797 -- 00:00:15.042 CFO in Q2, and Matt Gregorowski, who leads our Investor Relations Program 00:00:15.042 -- 00:00:19.186 with Adalia & Co. Selina and I will take you through the pages, and then there'll be 00:00:19.186 -- 00:00:23.731 time for Q&A. The presentation will cover three things. 00:00:23.731 -- 00:00:29.517 First half, 25 results, and the performance drivers, our financials in more detail, 00:00:29.517 -- 00:00:33.326 and our strategy analysis. Then we'll do Q&A. 00:00:33.326 -- 00:00:38.331 Let's move to slide four in the pack. The macro conditions we saw in the 00:00:38.331 -- 00:00:43.155 first half of 25 did not reflect our assumptions, which affected our top line results, 00:00:43.155 -- 00:00:49.180 particularly late in Q2, as we outlined in our trading update of 18th of October. 00:00:49.180 -- 00:00:54.225 Nevertheless, we worked very hard and drove the business leaders we have well, 00:00:54.225 -- 00:00:58.709 meaning while results were behind where we expected, the business remains in very good 00:00:58.709 -- 00:01:04.033 shape. We also saw the strategic pivots we've made in the last three years to focus 00:01:04.033 -- 00:01:09.100 on B2B, to grow globally and to launch a platform that provides our clients with a 00:01:09.100 -- 00:01:15.488 broader range of products and services, generate very encouraging growth and returns. 00:01:15.488 -- 00:01:20.755 We delivered net operating income of $111.2 million and an underlying EBITDA 00:01:20.755 -- 00:01:25.842 of $29 million. We continued to execute the fundamentals well, 0...