Novatti Group Limited, a leading fintech enabling businesses to pay and be paid, have released its results for the year ended 30 June 2025 (FY25).
Novatti’s FY25 revenue reached $51.8 million, an increase of 23.3% on FY24. While this is the strongest result ever, moving forward the focus continues to be reforming and adjusting Novatti’s revenue base to exit high-cost, complex, or low margin business lines to align with the Company’s long term financial goals.
Normalised cash EBITDA improved by 65% YoY, with a reduced loss of $3.1 million. Notably, overall cash use improved substantially, with a 48% drop in H2 cash use compared to H1 FY25, again highlighting the compounding benefits of the turnaround in the second half of the year. These results continue to be aided by Novatti’s cost reduction efforts and focus on revenue base reform, including to strengthen margins. At the end of FY25, Novatti held $2.5 million in cash.
Commenting on the results, Novatti CEO, Mark Healy, said, “At the conclusion of FY24, I flagged that the impacts of Novatti’s turnaround strategy would start to flow across FY25. I’m pleased to report that this is what we have delivered in Novatti’s FY25 results.”
“The cumulative impact of many individual initiatives, implemented as part of our turnaround strategy, are now starting to compound and flow positively through to Novatti’s results, particularly across the second half of FY25. As a start, FY25 revenue increased 23.3% YoY to $51.8 million, the strongest ever result. Novatti’s underlying EBITDA improved by 65% YoY, with a reduced loss of $3.1 million. Further, we ultimately saw cash use drop 48% in H2 compared to H1, again highlighting the compounding positive impact of the turnaround strategy in the second half.
“These results follow the continued execution of our turnaround strategy, with initiatives undertaken in FY25 designed to deepen the turnaround commenced in FY24. For example, we continued to streamline the business, including the sale or exit of non-core assets and entities, such as the sale of Novatti’s interest in the International Bank of Australia for $2.87 million, while also bringing the focus back to the core AU/NZ market, as highlighted through Emersion’s exit from the US market.
“We continued to reform and adjust our revenue base to exit high-cost, complex, or low margin business lines, to ensure the business aligns to our long-term financial targets. This included the exit from wholesale cross border services that, despite their historical revenue contribution, were high-cost and low-margin.
“With the substantial progress being made and key inflection points reached, we used Q4 FY25 to pivot the business back to growth. We sharpened our sales drive with a focus on pursuing larger opportunities, leveraged our brand refresh and initiated several project investments to pursue scale opportunities. This approach has resulted in a number of commercial wins across the year, including an extension of card issuing services into New Zealand for a global fintech customer and winning a contract to enhance the voucher payment offering of a major Asian-based global airline.
“We also added to our leadership team by bringing on Hayden Vowell as CFO in Q4 FY25, who brings 15 years of experience in high-growth businesses across software, retail and technology. We also strengthened our Finance function more broadly, including a new Group Financial Controller alongside other roles.
“Novatti’s FY25 results are a reflection of our steadfast commitment to delivering our turnaround strategy. Particularly in the second half of FY25, we can see the positive impacts of this turnaround starting to compound, including across the strengthened revenue base and cash use. On the back of these results, we are excited for FY26 as Novatti pivots back to growth,” Healy ended.