Half Year 2026 Tyro Payments Ltd Earnings Call Transcript
Key Points
- Tyro Payments Ltd (ASX:TYR) reported a 4% increase in total payment volumes, driven by a 5.6% growth in Tyro Core payment volumes.
- The company launched new banking products and acquired Thriday, enhancing their product offerings and deepening merchant relationships.
- Tyro Payments Ltd (ASX:TYR) achieved a 6% growth in payments gross profit to AUD104.1 million, supported by volume increases and margin improvements.
- The company reported a 19.8% increase in EBITDA to AUD39.5 million, with a strong EBITDA margin of 33.6%.
- Tyro Payments Ltd (ASX:TYR) generated AUD13.6 million of free cash flow, strengthening their balance sheet with over AUD140 million in available funds.
- Volumes for Bendigo merchants fell by 10% this half, indicating challenges in this segment.
- The company anticipates higher operating expenses in the second half due to salary increases, project and marketing spend, and AML compliance investment.
- Despite improvements, churn levels are still not at historical averages, suggesting room for improvement in customer retention.
- The government’s increased bulk billing funding has put pressure on volume growth across general practitioners.
- There is a significant step up in costs expected in the second half, with an additional AUD10 million in operating expenses compared to the first half.
Thank you for standing by and welcome to the Tyro Payments Limited H1FY26 results call. (Operator Instructions)
I would now like to hand the conference call over to Mr. Nigel Lee, Chief Executive Officer. Please go ahead.
Good morning everybody and thank you for joining today's call. My name is Martyn Adlam, and I'm Head of Investor Relations for Tyro. I would like to acknowledge that I'm hosting this meeting in Sydney on the land of the traditional owners, the Gadigal people. I pay my respects to elders past and present.
This morning, we released our FY26 half year results. All of the documents, including today's presentation, have been released through the ASX and are available on our Investor Center. This call is being recorded and transcribed, and a replay will be available on our Investor Center shortly.
On today's call, you will hear from Chief Executive Officer, Nigel Lee; and from Emma Burke, our Chief Financial Officer. There will be time available for Q&A at
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