Link: https://links.sgx.com/1.0.0/corporate-announcements/I91ICJC5TZ1M2HKW/59a77fcc6199c0c8a35efd3bfeec7472d072897bd4e5d3c8a111c4fb27f2888b

Summary:

• Revenue: S$22.4 million (up 5% YoY), led by a S$1.3m increase in subscription revenue from the core cloud-based HRMS (80%+ of revenue) and Accounting Software.

• Adjusted net profit: S$7.2 million (up 9% YoY); adjusted EBITDA S$9.5 million with a 42.3% margin; adjusted net margin 32.4% (+1.4ppt).

• Operational metrics: HRMS active users ~906,000 (+15% vs end-2024); Accounting Software customers ~1,400 (+28%); gross customer retention 94% (vs 91% FY2024).

• Geography: Singapore S$15.9m (stable); Malaysia S$4.9m (+28%); Others (HK, India) S$1.6m (+29%).

• Order book: S$26.8 million (vs S$25.6m end-2024), largely advance billings for next 12 months, supporting 2H FY2025 visibility.

• Balance sheet: Debt-free; cash and cash equivalents S$33.7m (vs S$29.7m end-2024), excluding IPO proceeds.

• Dividend: Interim dividend 1.55 Singapore cents per share (55% payout of adjusted net profit), in line with IPO commitment to distribute at least 50% of NPAT (ex-exceptionals) through 31 Dec 2025 and for FY2026.

• Outlook/strategy: Continued demand from SME digitalisation (e.g., PSG in Singapore); plans to expand product suite (CRM soft launch 1H2026) and Academy Training (7 new courses approved); scaling sales and marketing across SG, MY, HK, IN; exploring inorganic M&A to accelerate market entry and technology acquisition.