H1 FY26 Results Investor Presentation
Released
Released
Announcement PDF
H1 FY26
Financial
Results
24 February 2026
ROBYSHARON-ZIPSER ICEO&Co-Founder
JACOJONKERICFOO
hipages Group | 5
H1 FY26
Results Overview
R O B Y S H A R O N - Z I P S ER
CEO & Co-Founder
hipages Group | 6
H1 FY26 performance
1 ARPU: Annual revenue per user
2 EBITDA: Earnings before interest, tax, depreciation and amortisation before significant items
3 FCF: Free Cash Flow = Operating cash flow less lease repayment, less payments for intangible assets and property, plant & equipment (PPE)
hipages Group at a glance (ASX: HPG)
Tradie
Marketplace
Future
Services
Job
Management
+
Strategic evolution from
marketplace to SaaS platform
ANZ’s #1 platform to connect
households and tradie businesses
H1 FY26 key highlights
✓ Successful pricing plan migration in AUS
(access to all job management features)
✓ Launched rebranded ‘hipages for business’
app and ‘hipages Perks’
✓ New platform functionality and AI integration
✓ >40% revenue and ARPU1 growth in NZ
+
Purpose:
Transform the trade industry,
Building better lives for everyone
EBITDA2
+29%
FCF3
+257%
H1 FY25 H1 FY26
Revenue
+11%
hipages Group | 7
Delivering sustainable growth
4.9
5.1
6.0
6.8
7.5
H1
FY22
H1
FY23
H1
FY24
H1
FY25
H1
FY26
30.1
32.6
37.4
40.6
44.9
H1
FY22
H1
FY23
H1
FY24
H1
FY25
H1
FY26
4.2
5.8
8.4
8.7
11.2
H1
FY22
H1
FY23
H1
FY24
H1
FY25
H1
FY26
MRR excl. GST $m $m $m $m
Total Revenue EBITDA1 Free Cash Flow
(2.7)
(3.3)
(0.1)
1.2
4.3
H1
FY22
H1
FY23
H1
FY24
H1
FY25
H1
FY26
1 before significant items (affects FY22-24 only)
hipages Group | 8
H1 FY26 Performance
JACO JONKER
CFO & COO
hipages Group | 9
H1 FY26 Group Financial Highlights
$7.5m
MRR
Up 9%
$43.9m
Recurring revenue
Up 12%
$44.9m
Total revenue
Up 11%
Revenue
$11.2m
EBITDA
EBITDA Margin 25% (up 4ppt)
$2.7m
NPAT
H1 FY25: $0.1m
89%
Gross profit margin
H1 FY25: 89%
Profitability
Key drivers 35.3k
Subscription businesses
Up 1%
Serviced businesses: 54.3k
1.4m
Business-Household Connections
Down 4%
$2,497
Subscription ARPU
Up 10%
See glossary on p.42 for definitions
All variances on this page refer to the pcp.
Cash
$31.1m
Closing cash and funds on deposit
H1 FY25: $22.5m
$4.3m
Free Cash Flow
Up 257%
$12.9m
Operating Cash Flow
Up 37%
hipages Group | 10
hipages Group MRR (excl. GST)
Key drivers
• 100% ofAustralian customers migrated to
the new platform1 plans (includes access to
leads and job management features)
• Ascensions driving record yields
• NZ customers joining at higher price points
and ascending as the new subscription
model is optimised in its first-year post
migration
• Consistent seasonalcadence implies an
MRR step-up in H2, following the typical H1
holiday softening
NSW COVID
lockdowns
Post-COVID
home improvement
boom
New pricing plans deliver record yields, supporting strong MRR growth
5.1
5.7
6.0
6.4
6.8
7.4 7.5
5%
15%
17%
13%
14% 14%
9%
H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 H1 FY26
MRR excl. GST ($m) Growth vs. pcp
1 Platform: single platform combining the lead generation marketplace and job management services
hipages Group | 11
35% 36% 34% 31% 32%
37%
28%
25% 27% 24%
3%
5%
5% 7%
7%
10%
13%
13% 13%
12%
86%
82%
78% 79%
75%
H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
Operations and Administration Marketing Technology Cost (P&L) Sales
Group operating expenses1 as % of total revenue
Continued cost discipline delivered record 25%
EBITDA margin, up 4ppt
Sales
• Increased efficiency delivered double-digit
revenue growth with stable sales cost base
Marketing
• Strict focus on marketing ROI delivered 3ppt
reduction as a % of revenue after planned
creative and brand investments in H1 FY25
Operations and Administration
• Modest increase reflects non-cash ESOP
expenses and planned subscription costs –
more than offset by sales and marketing
efficiencies
Refer to Appendix for detailedP&L
Operating leverage at scale delivers record EBITDA margin
1 Operating expenses after capitalisation of Technology Development spend. Before capitalisation, total Technology Development spend was 23% of Revenue in 1H26 (24% inpcp)
hipages Group | 12
2.1 2.3
3.7 4.6 5.6
3.2
6.8
12.5
14.4
14.2
14.4
7.3
8.9
14.8
18.1
18.8
20.0
10.4
16%
24%
27%
25%
24%
23%
FY21 FY22 FY23 FY24 FY25 H1 FY26
Tech spend declining as % of revenue while
accelerating product delivery and AI integration
• Continued development of tradie platform alongside
marketplace optimisation
• Recent focus areas include:
- In-product self-service pathways that reduces
friction for customer sign-up and upgrades
- Enhanced job management features
- Integrating new perks and services
• Disciplined capitalisation approach with detailed
activity-based tracking (development vs.
maintenance), amortised over 3 years
• Total tech spend expected to gradually reduce as a
% of revenue
Group technology development spend (in $m)1
Disciplined technology investment delivering long-term value
1 Technology and software development based on profit and loss reporting (accrual based), not reflecting actual timing of cash flows spend
Note: Numbers may not add up due to rounding
Total technology spend
as a %of Revenue
70% capitalised
30% expensed
Australian
Operations
hipages Group | 14
1,267
1,376
1,307
1,403 1,362 1,339 1,292
H1
FY23
H2
FY23
H1
FY24
H2
FY24
H1
FY25
H2
FY25
H1
FY26
# tradie-household connections ('000)
71%
74%
78%
84% 84%
86%
84% 86%
83%
H1
FY22
H2
FY22
H1
FY23
H2
FY23
H1
FY24
H2
FY24
H1
FY25
H2
FY25
H1
FY26
% of total jobs connected with a tradie
• Yield growth more than offset revenue impact of subdued connections
• Marketplace activity seasonally lower in H1 due to Christmas holidays
• 2% lower job volume vs. pcp amidst subdued consumer confidence
• Short term impact from mid-period changes to the matching engine
• H1 connection rate remains healthy, reflecting a great experience for
both sides of the marketplace
• Connection rate reflecting normal H1/H2 seasonality
• Targeted SEO/SEM spend supporting marketplace balance by
geography and trade category
High connection rate maintains
strong consumer experience
Connection1 volume reflects
subdued consumer confidence
hipages Australia
2
1 Connections occur when a business claims a job, triggering usage of their lead credits included in their subscription
2 Connection rate defined as # jobs with at least 1 business-household connection as a % of total # jobs posted on hipages Australia
High connection rates and yield growth offset subdued connection volume
hipages Australia -5%
hipages Group | 15
30.9 30.8 31.8 32.3 32.2
43.8 44.4
46.5 47.9 48.6
H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
$1,771
$1,978
$2,195
$2,374
$2,583
H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
• All customers now on new business platform1 price plans
(includes access to job leads and job management services)
• Ongoing lead price optimisation driving increased credit usage and
ascensions
• Retention rate3 stable at 58%
• Growth in total businesses served presents opportunity to sell
value-added services outside of subscription model
Core customer base resilient with platform
evolution expected to drive further growth
+9%
ARPU growth driven by migration
to new platform1 price plans
ARPU ($) - hipages Australia
Continued ARPU growth and stable subscription customer base
1 Platform: single app combining the lead generation marketplace, and job management service
2 ‘Subscription businesses’: snapshot of hipages paying businesses on the last day of each period. ‘Total businesses served”: rolling number of trade businesses who were on a subscription or transactional product at some
stage in the L12M.
3 Last 12-months MRR Retention rate (in $) for hipages Australia
Total
subscription
businesses2
Total
businesses
served2
Paying trade business numbers (‘000) – hipages Australia
(0.3%)
+1.6%
hipages Group | 16
Increased platform engagement driving improved retention
~15% of customers now using job management,
frequency of use increasing
1 MAU: Monthly Active User defined as a subscription business account who used at least 1 job management feature during the month
Customer Retention Rate vs. job mgmt. feature usage
Increased job management use
delivering clear retention benefits
Retention
rate
benefit
(incr.
Retention
ppt p.a.)
# actions per month
Causal inference model
2 4 6 8
10%
8%
6%
4%
2%
12%
0%
Number of Monthly Active Users1 (000's) of
job management features
1.2
1.6
2.5
3.3
3.8
4.5
3.8
4.6
4%
5%
8%
10%
11%
13%
12%
14%
15%
Explorers
(1 action p.m.)
Adopters
(2-3 actions p.m.)
Power Users
(4+ actions p.m.)
% of total tradie
base
Summer break
~5
hipages Group | 17
1 Thrive Insights Research Dec 25 Brand Tracker (homeowners 30—65yo metro and regional)
2 Publicis Sapient competitive landscape analysis May 25
3 Homeowner Total Awareness at 66% based on Thrive Insights Research Dec 25 Brand Tracker (homeowners 30—65yo metro and regional)
Doubling down on our market leadership position
Tradie
Homeowners
#1 Top of Mind Awareness 1,3
For websites/apps that connect you with tradies
#1 Preferred 1
Way to connect with tradies
#1 for Trusted Tradies 1
Perception of trustworthy tradies on the platform
#1 Top of Mind Awareness 1
For websites/apps that help you find clients/more work
#1 Return On Investment 2
For digital lead generation platforms
#1Way to grow your business 2
For tradies
hipages Group | 18
hipages is the #1 place for tradies to grow their businesses
New creative leveraging our
#1 positioning
Likeability
Motivation
Likeability
Motivation
74%
55%
62%
42%
TVC norm
77%
62%
49%
28%
Radio norm
Recall
Recall
33%
30% 19%
27%
Awareness
72%
(+4ppts)
Consideration
44%
(+6ppts)
New interactive product feature page, highlighting full
functionality of hipages for business
Thrive Insights Research Dec ‘25 Brand Health Tracker
New Zealand
Operations
hipages Group | 20
2,623 3,082
3,227 3,377 3,579
4,128 4,278
5,370
6,379
5,703
H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
Full Subscription Hybrid subscription
$704 $786
$971
$1,149
$1,615
H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
NZ shift to subscription model resulted in a more engaged and higher yield
customer base and strong revenue growth
• Continuing to implement learnings from Australia to further optimise the
subscription model, driving strong ARPU growth
• Shift to subscription model increased quality of customer base
• Total businesses served creates opportunity to introduce other
products outside of lead gen subscription
Subscription customer numbers growing by
double-digits after shift to subscription
+41%
ARPU growth accelerates as we optimise
the NZ subscription model
ARPU (A$) - hipages New Zealand
Total
Subscription
businesses2
Total
businesses
served2
Paying tradie numbers (‘000) – hipages New Zealand
+17%
(11%)
1 ‘Subscription businesses’: snapshot of paying customers on the last day of each period. ‘Total businesses served”: rolling nu mber of customers who were on a subscription or transactional product at some stage in the L12M.
hipages Group | 21
Strategic evolution
R O B Y S H A R O N - Z I P S ER
CEO & Co-Founder
hipages Group | 22
Unlockinga significantlylarger addressable market with future new services
AUS tradie directory
AUS marketplace
NZ marketplace
Job management flow
Payments
Reputation Management
Finance
Procurement
Insurance
Householder monetisation
Till 2021 2022-2024 Present Future
hipages core
business
Geographic expansion:
#1 across ANZ
Evolution from
Marketplace to Platform
Expansion services &
householder monetisation
Illustrative selection
only.
Longer list of
expansion services
actively considered.
TAM1: $1.2B
(AUS Tradies spend on advertising
services)
TAM1: $1.8B
(ANZ Tradies spend on advertising
services and job management software)
TAM1: $1.6B
(ANZ Tradie spend on advertising
services)
1
Publicis Sapient, 2024
hipages Group | 23
Expansion services will be rolled out at pace and engage
bothsides of the marketplace
• Servicing tradie
businesses beyond lead
generation and job
management
• Increased engagement &
retention opportunity
Extending our value
proposition
Monetising both sides
of the marketplace
Capital light & speedy
development
• Tradie businesses:
active customers,
potential, and past
• Households: account
holders, subscribers,
non-subscribers
• Primarily delivered
through partnerships
and/or small bolt-on
acquisitions
hipages Group | 24
Single tradie platform
available: merged 2
services into 1 product
Desktop version
Existing customer migration
to new app and pricing
Multi-user
capability
Estimate
function enhancement
New price plans applied
to all joining tradies
Tap to Pay
capability
Continued progress on our technology roadmap
FY24 FY25
H1
FY26
H2
FY26
Product
Development:
Customer
migration:
New platform
launched in Q4
New features
released
Platform enhancement
Quote
function enhancement
Scheduling
function enhancement
AI integration
into core features
Customer management
function enhancement
Estimate
function
New services
hipages Group | 25
Smart Quotes
Scheduling
Estimates
Released in H1
Saves time & admin load
Reduces time spent creating quotes so
tradies can focus on their work
Provides market-rate insights
Offers pricing guidance based on job details
Enables quoting on-the-go
Makes it easier to create quotes while
on the field
Delivers a more professional experience
Tradies can generate polished, professional
quotes for customers
Builds confidence for rookies
Guides less-experienced tradies in pricing and
structuring quotes for new job types, acting
as on-the-job coaching
hipages Group | 26
Smart Quotes
Scheduling
Estimates
Released in H1
Reduces double bookings
Combines personal and work calendars
to avoid conflicts
Reduce manual entry
Exports job schedules to personal calendars,
removing duplicate entry
Better time optimisation
Improves forward planning with
day/week/month views and pipeline visibility
hipages Group | 27
Lightweight alternative to formal quotes
Share quick, professional pricing without full
commitment
Speed and responsiveness
Send estimates in as little as 13 seconds after
accepting a lead
Increased conversion and job wins
Tradies are 144% more likely to mark jobs as
confirmed/hired
Personalisation capability
Edit in-app templates to tailor messages and
correct business details
Smart Quotes
Scheduling
Estimates
Released in H1
hipages Group | 28
hipages AI journey
AI in search
How users find us
AI in our product
How we can enhance
user experience
AI in our operations
How we can achieve
productivity gains
We think of AI as an opportunity across 3 areas of our business:
hipages Group | 29
AI in Search
The changing AI landscape and how we make the tools work for us
How is AI changing search
behaviour?
AI and LLMs are changing search
behaviour as they provide users with
instant, direct answers instead of
requiring them to click through on
traditional search results.
This forces brands to optimise for AI
visibility alongside search engine
rankings to maximise traffic.
Primary tool for AI tracking. Monitors our visibility,
brand sentiment and average position vs.
competitors in popular LLMs across high value
prompts. Models tracked include ChatGPT,
Perplexity, Gemini, AI Mode & AI Overviews.
Provides sitewide and state-specific AI Overview
ranking data.
Monitors sessions and conversions coming from
LLM referral sources.
Automates and improves advertising campaigns,
across user search intent, automating ad copy and
web pages visitors land on.
How we are tracking AI/LLMs:
hipages Group | 30
AI in Search
hipages is leading AI/LLM visibility vs. competitors
1 Peec.ai
Line graph shows average visibility for hipages and competitors across ChatGPT, Perplexity, Gemini & AI Mode.1
hipages
Other Australian online
marketplaces and directories
in the category
LLM visibility – Percentage of chats mentioning each brand
hipages Group | 31
AI in Search
ChatGPT integration brings households and trades even closer together
hipages Group | 32
AI in Product
AI Assistant delivers a seamless end-to-end homeowner experience
hipages Group | 33
Location Tracker Route Optimisation Follow Up Questions
Voice in Smart Quotes
AI in Product
New AI features coming in H2
hipages Group | 33
hipages Group | 34
AI in Sales
More efficient frontline team
• AI-generated call summaries reducing admin
• Pre-call tips and suggested actions based on
account records to increase conversion
Better customer conversations
• AI-assisted quality assurance
delivering actionable insights
AI in Customer Service
Faster case resolution
• AI chat to triage and handle end-to-end customer
queries
AI in Software Development
Core Software Development Workflows
• Widescale adoption of Claude Code throughout
the Engineering team increasing delivery speed
• Move towards Agentic Engineering practices to
further accelerate delivery
Optimisation outside of Core SDLC
• AI-assisted real time prototyping for research
• Automated end-to-end QA process
• AI based bug triage and assignment
• Automated code review and security
assessment
AI in Operations
We're embedding AI workflows
and tools across the business
hipages Group | 35
FY26 outlook
R O B Y S H A R O N - Z I P S ER
CEO & Co-Founder
hipages Group | 36
FY26 targets1: continued strong growth in revenue, profitability and cash
1 Assuming no material deterioration in macroeconomic conditions impacting the Group's key markets under the existing strategy
• Total revenue
• EBITDA margin
$90m - $91m
24% - 26%
• Free Cash Flow $8m - $10m
hipages Group | 36
hipages Group | 37
Questions & answers
hipages Group | 38
Appendices
Financial summary
hipages Group | 39
H1 FY26 Financial summary
● H1 FY26 recurring revenue 98% of total revenue (H1
FY25: 97%)
● H1 FY26 gross margin of 89% gross margin3 (H1
FY25: 89%)
● H1 FY26 EBITDA margin4 expansion to 25% (H1
FY25: 21%)
1 Operating revenue refers to total revenue from ordinary activities.
2 Reclassifications have been made to comparative balances to conform with current year presentation.
3 Gross Margin is calculated as gross profit (revenue less cost of sales, which include households and tradie SEM spend, as well as merchant fees) divided by total revenue.
4 EBITDA Margin is calculated as EBITDA before significant items divided by total revenue.
$’000 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
Recurring 28,768 30,601 35,169 39,182 43,893
Transactional 737 1,472 1,747 1,414 1,006
Total Operating revenue1
29,505 32,073 36,916 40,596 44,899
Other revenue 632 548 494 3 -
Total revenue 30,137 32,621 37,410 40,599 44,899
Sales
2
(3,129) (4,195) (4,826) (5,448) (5,424)
Marketing2
(11,206) (9,162) (9,475) (11,083) (10,817)
Technology and development (1,090) (1,747) (2,098) (2,800) (3,158)
Operations and administration2
(10,481) (11,744) (12,650) (12,586) (14,330)
Total operating expenses (25,906) (26,848) (29,049) (31,917) (33,729)
Net other income/(expenses) (55) (4) (10) 1 12
EBITDA before significant items 4,176 5,769 8,351 8,683 11,182
Significant items (367) (130) 369 - -
EBITDA after significant items 3,809 5,639 8,720 8,683 11,182
Depreciation and amortisation (4,496) (6,971) (8,266) (9,077) (8,717)
Profit/(loss) before interest and income tax (687) (1,332) 454 (394) 2,465
Net finance income/(expenses) (50) (125) 56 270 346
Share of loss of equity accounted investee, net of tax (118) (187) (44) - -
Gain on disposal of equity-accounted investment, net of tax - - 3,079 - -
Profit/(loss) before income tax (855) (1,644) 3,545 (124) 2,811
Income tax benefit/(expenses) 25 153 160 197 (64)
Profit/(loss) after income tax (830) (1,491) 3,705 73 2,747
hipages Group | 40
H1 FY26 Cash flow
● Positive operating cash flow up 37% to $12.9m
as the business benefits from margin expansion
and strong business momentum
● Positive net cash flow of $4.3m in H1 FY26
bolstering total cash & funds on deposit to
$31.1m
● Free cash flow $’000
Cash flow from operations $12,877
Less capex – PPE ($147)
Less capex – Intangibles ($7,335)
Less lease payments ($1,063)
Free cash flow $4,332
$’000s H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
Receipts from customers (inclusive of GST) 31,514 34,567 39,965 43,413 47,915
Payments to suppliers and employees (inclusive of GST) (27,364) (28,508) (31,168) (34,458) (35,332)
Transaction costs in relation to secondary offer - - - - -
Interest received 33 41 139 534 434
Income taxes (paid)/refunded - (76) 107 (89) (140)
Interest paid - (2) (4) - -
Net cash flows from operating activities 4,183 6,022 9,039 9,400 12,877
Payments for purchase of business net of cash acquired (7,843) (414) - - -
Proceeds/(payments) for investments (6,747) - 8,400 - -
Payments for property, plant and equipment (225) (771) (73) (185) (147)
Payments for intangible assets (5,107) (7,691) (7,467) (7,105) (7,335)
Proceeds from divestments 150 250 - - -
Release/(payment) of bank guarantee funds related to leased property - - 1,037 (120) -
Net cash flows used in investing activities (19,772) (8,626) 1,897 (7,410) (7,482)
Payment of principle portion of lease liabilities (1,302) (1,297) (1,424) (771) (945)
Payment of interest related to lease liabilities (282) (163) (138) (124) (118)
Proceeds from reimbursement of office refurbishment costs - 600 - - -
Cash settlement of share-based payments - (42) - - -
Net cash flows used in financing activities (1,584) (902) (1,562) (895) (1,063)
Net increase/(decrease) in cash and cash equivalents (17,173) (3,506) 9,374 1,095 4,332
Cash and cash equivalents at the beginning of the period 30,303 10,907 8,540 20,116 25,631
Effects of exchange rate changes on cash and cash equivalents (9) 27 4 (9) (93)
Cash and cash equivalents at the end of the period 13,121 7,428 17,918 21,202 29,870
Funds on deposit 2,271 2,271 1,150 1,270 1,270
Total cash and funds on deposit 15,392 9,699 19,068 22,472 31,140
hipages Group | 41
H1 FY26 Statutory balance sheet
$’000s H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26
Cash 13,121 7,428 17,918 21,202 29,870
Funds on deposit - - - - -
Trade and other receivables 1,681 1,852 1,399 1,438 1,394
Other assets 2,522 2,288 1,260 1,768 1,344
Current tax asset - - - 19 8
Total current assets 17,324 11,568 20,577 24,427 32,616
Funds on deposit 2,271 2,271 1,150 1,270 1,270
Equity-accounted investment 6,650 6,111 - - -
Property, plant and equipment 1,664 1,719 1,007 889 1,099
Right-of-use assets 12,835 11,187 8,940 8,329 6,867
Intangible assets 28,819 32,259 31,048 29,342 28,158
Other 1,048 800 800 391 192
Total non‑current assets 53,287 54,347 42,945 40,221 37,586
Total assets 70,611 65,915 63,522 64,648 70,202
Trade and other payables 9,270 8,441 6,888 7,430 6,665
Contract liabilities 3,109 2,689 3,137 3,596 3,860
Provisions 1,786 1,789 2,004 2,191 2,655
Lease liabilities 2,719 2,939 1,520 1,777 1,955
Current tax liability 61 26 34 - -
Total current liabilities 16,945 15,884 13,583 14,994 15,135
Other payables 1,448 - - - -
Provisions 544 581 800 899 951
Lease liabilities 11,899 10,312 8,938 8,064 6,307
Deferred tax liability 2,951 1,966 1,479 995 886
Total non‑current liabilities 16,842 12,859 11,217 9,958 8,144
Total liabilities 33,787 28,743 24,800 24,952 23,279
Net assets 36,824 37,172 38,722 39,696 46,923
Issued capital 316,660 318,099 319,425 320,430 321,499
Reserves (219,414) (218,934) (218,762) (218,724) (217,630)
Accumulated losses (60,422) (61,993) (61,941) (62,010) (56,946)
Total equity 36,824 37,172 38,722 39,696 46,923
hipages Group | 42
Annual revenue per user (ARPU)
The annual operating revenue divided by the average of the opening and closing number of total hipages Australia and hipages NZ (Builderscrack) tradies for the period. For H1
FY26, hipages Group ARPU of $2,497 is the blended result of hipages' ARPU of $2,583 and Builderscrack's ARPU of $1,615 (both in AUD).
Gross profit margin
Includes total revenue less cost of sales (household and tradie SEM spend and merchant fees).
Free cash flow (FCF)
Operating cash flow less lease repayment, less payments for intangible assets and PPE. Cash flows related to M&A and bank gua rantee release are not considered part of free cash
flow calculations.
Monthly recurring revenue (MRR)
Monthly recurring revenue refers to the committed monthly subscription revenue from tradies (excluding GST) at the end of the period (i.e. December 2025 for 1H FY26). It is
calculated as the number of tradie accounts multiplied by their monthly subscription price excluding GST.
Paid connections
Paid connections occur when a tradie claims a lead on a job posted on the hipages platform, resulting in lead credit usage. Every job posted is connected with up to 3 tradies.
Subscription businesses
Refers to customer tradies in AUS (hipages) and NZ (Builderscrack) committed to a monthly subscription product at the end of the period considered.
Serviced businesses
Refers to the total number of trade businesses which have been on a subscription or used other paid services over the last 12 months.
Business-Household connection
Jobs posted by householders on the hipages marketplace appear as leads to relevant trade businesses (according to our job-matching algorithm). Up to 3 businesses can
successfully claim a lead: this result in a Business-Household connection. Connections are the trigger for lead credit consumption.
Glossary and definitions
hipages Group | 43
Disclaimer
Important notice
The material in this presentation has been prepared by hipages Group Holdings Limited (ASX: HPG) ABN 67 644 430 839 (“hipages” or the Company") and is general background information about hipages’
activities current as at the date of this presentation. The information is given in summary form and does not purport to be complete in every aspect. In particular you are cautioned not to place undue
reliance on any forward looking statements regarding our belief, intent or expectations with respect to hipages’ businesses, market conditions and/or results of operations, as although due care has been
used in the preparation of such statements, actual results may vary in a material manner. Information in this presentation or subsequently provided to the recipient of this information, whether orally or
in writing, including forecast financial information, should not be considered advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities in the
Company. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek
independent financial advice.
The financial information should be read in conjunction with the basis of preparation set out in the Company’s accounts.
Forward-looking statements
This presentation may contain forward-looking statements which are statements that may be identified by words such as “may”, “will”, “would”, “could”, “expects”, “intends”, “anticipates”, “targets” and
other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions and on a number of best estimate assumptions
regarding future events and actions that, at the date of this document, are expected to take place. No person who has made any forward-looking statements in this document has any intention to update
or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information
contained in this document, other than to the extent required by law. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties,
assumptions and other important factors, many of which are beyond the control of the Company.
This presentation also contains references to certain intentions, expectations, targets and plans of the Company. These intentions, expectations and plans may or may not be achieved. They are based on
certain assumptions which may not be met or on which views may differ.
To the maximum extent permitted by law none of hipages, its subsidiaries, or its respective officers, employees, agents or consultants nor any other person accepts any liability, including, without
limitation, any liability arising out of negligence, for any loss arising from the use of the information.
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