PEXA Group announces stronger FY24 results

We are pleased to share with you PEXA Group’s Financial Year 24 Results. 

Watch the video below to hear from our Group Managing Director and CEO, Glenn King.

• Group revenue grew by 21%, reaching $340 million compared to our 2023 full year results.
• The growth of our Digital Solutions and International revenue streams now represents 15% of total business revenues — both initiatives that were non-existent at the time of our IPO in 2021.
• Operating EBITDA increased by 16% to $114.9 million, with the strength of our Exchange business contributing an operating margin of 54.5%, up almost 1 percentage point.
• Our Group operating margin was 36.5% excluding the Smoove acquisition, exceeding our guidance of greater than 35%, and representing a 1.7 percentage point increase year-on-year.
• NPATA reached $21 million, a 22% increase driven by higher revenue, combined with focused cost growth. 

PEXA Group’s strategy remains centred on maintaining and expanding leadership across key markets: 

1. Exchange Business: The Exchange continues to demonstrate its strength as a secure digital infrastructure asset, expanding national coverage and demonstrating the financial strength of this asset. 
2. Digital Solutions: The launch of Value Australia and the achievement of Operating EBITDA break even for the month of June reinforce our ability to offer a comprehensive suite of digital solutions to our customers.  
3. International Expansion: We are progressing with our international platform build, building system capability for expansion into other markets. Following our NatWest partnership, momentum is building with lenders interested in joining the next Bank of England PEXA testing slot.  

Our long-term strategy is guided by the Group’s “4 E’s”:

• Enhance the Exchange to maintain position as Australia’s leading electronic lodgement network. 
• Extend relationships by leveraging property insights and digital solutions for our customers. 
• Expand internationally, using the Group’s expertise to efficiently settle properties in markets like the UK. 
• Evolve capabilities by investing in people, technology, and community contributions. 

Visit our Investor Centre for more information on our Full Year Results for FY24. 

PEXA Group extends its thanks for your continued support as the Group build on this momentum to drive long-term sustainable value for stakeholders.