Tyro Payments reiterates guidance, posts 6% growth in Q1 payment volumes
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The news: Payments service provider Tyro has reaffirmed its FY26 guidance after reporting a continued improvement in annual growth rate during the first quarter.
The numbers: Tyro said it saw a "significant improvement" in payment volumes in Q4 FY25 and that Q1 FY26 was "tracking even better", with growth in its core verticals up 6% compared to the prior corresponding period.
The company said the second quarter has "continued to track well" but flagged that the upcoming Black Friday and Christmas periods "usually define how strong Q2 lands".
Tyro reaffirmed its full-year normalised gross profit guidance of between $230 million and $240 million. It also expects to hit its EBITDA margin target of between 28.5% and 30%.
The context: Tyro also confirmed that CEO and managing director Jon Davey will finish in his role on 5 December and be succeeded by Nigel Lee on 12 January, as announced earlier this month. Tyro's chief financial officer Emma Burke will be acting CEO in the interim five-week period, the company said today.
