Tyro Payments post 73% jump in HY profit on improved payment volumes
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The news: Fintech company Tyro Payments reported half-year statutory net profit before tax of $17.7 million, a 73% increase from a year ago, citing improvement in payment volumes and operational discipline.
The numbers: Earnings before tax and interest was 19.8% higher to $39.4 million year-on-year, while free cashflow rose 51.8% to $13.6 million.
Payments gross profit was 6% higher driven by solid consumer spending and lower churn rates.
The company did not declare a dividend.
The context: CEO Nigel Lee said the half-year results were driven by the strength of the company's omni-channel experience and its integrated payments and banking proposition.
During the period, Tyro had acquired AI powered financial management Thriday, aimed at supporting small and medium sized businesses with financial management.
Tyro reaffirmed its FY26 guidance, forecasting gross profit within the range of $230 million and $240 million, and an earnings before interest and tax margin of between 28.5% to 30%.
The source: ASX
