Announcement • Apr 24
Change Financial Limited to Report Q3, 2026 Results on Apr 29, 2026 Change Financial Limited announced that they will report Q3, 2026 results at 9:00 AM, E. Australia Standard Time on Apr 29, 2026 Price Target Changed • Apr 18
Price target increased by 9.5% to AU$0.15 Up from AU$0.14, the current price target is provided by 1 analyst. New target price is 83% above last closing price of AU$0.082. Stock is up 67% over the past year. The company is forecast to post earnings per share of US$0.0027 next year compared to a net loss per share of US$0.0013 last year. Recent Insider Transactions • Mar 21
Non-Executive Director recently sold AU$9.6m worth of stock On the 17th of March, Michael Giles sold around 137m shares on-market at roughly AU$0.07 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$9.4m more than they bought in the last 12 months. Reported Earnings • Feb 27
First half 2026 earnings released: EPS: US$0.001 (vs US$0.003 loss in 1H 2025) First half 2026 results: EPS: US$0.001 (up from US$0.003 loss in 1H 2025). Revenue: US$9.29m (up 29% from 1H 2025). Net income: US$637.7k (up US$2.37m from 1H 2025). Profit margin: 6.9% (up from net loss in 1H 2025). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.3% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
Change Financial Limited to Report First Half, 2026 Results on Feb 26, 2026 Change Financial Limited announced that they will report first half, 2026 results on Feb 26, 2026 Announcement • Jan 28
Change Financial Limited Upgrades Revenue Guidance for Fy 2026 Change Financial Limited upgraded revenue guidance for Fiscal Year 2026. For the period, the company expects revenue to between USD 17.5 million (AUD 26.1million) to USD 18.5 million (AUD 27.6 million). Announcement • Jan 23
Change Financial Limited to Report Q2, 2026 Results on Jan 29, 2026 Change Financial Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Announcement • Oct 24
Change Financial Limited to Report Q1, 2026 Results on Oct 30, 2025 Change Financial Limited announced that they will report Q1, 2026 results on Oct 30, 2025 Announcement • Sep 23
Change Financial Limited, Annual General Meeting, Nov 20, 2025 Change Financial Limited, Annual General Meeting, Nov 20, 2025. Recent Insider Transactions Derivative • Sep 11
Executive Director exercised options to buy AU$77k worth of stock. On the 8th of September, Thomas Russell exercised options to buy 1m shares at a strike price of around AU$0.08, costing a total of AU$80k. This transaction amounted to 40% of their direct individual holding at the time of the trade. Since September 2024, Thomas' direct individual holding has increased from 1.88m shares to 3.50m. Company insiders have collectively bought AU$163k more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • Sep 03
Price target increased by 22% to AU$0.13 Up from AU$0.11, the current price target is an average from 2 analysts. New target price is 63% above last closing price of AU$0.082. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of US$0.0017 next year compared to a net loss per share of US$0.0013 last year. Reported Earnings • Aug 31
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: US$0.001 loss per share (improved from US$0.004 loss in FY 2024). Revenue: US$15.0m (up 41% from FY 2024). Net loss: US$849.5k (loss narrowed 67% from FY 2024). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) exceeded analyst estimates by 4.1%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.1% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Aug 26
Change Financial Limited to Report Fiscal Year 2025 Final Results on Aug 29, 2025 Change Financial Limited announced that they will report fiscal year 2025 final results on Aug 29, 2025 Announcement • Jul 24
Change Financial Limited to Report Q4, 2025 Results on Jul 29, 2025 Change Financial Limited announced that they will report Q4, 2025 results on Jul 29, 2025 Major Estimate Revision • Jul 12
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$15.8m to US$15.0m. Losses expected to increase from US$0.0029 per share to US$0.0033. Diversified Financial industry in Australia expected to see average net income growth of 22% next year. Consensus price target down from AU$0.12 to AU$0.11. Share price rose 23% to AU$0.086 over the past week. New Risk • Jul 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$59.8m market cap, or US$39.2m). Price Target Changed • May 01
Price target decreased by 17% to AU$0.12 Down from AU$0.14, the current price target is an average from 2 analysts. New target price is 89% above last closing price of AU$0.064. Stock is up 4.9% over the past year. The company is forecast to post a net loss per share of US$0.0027 next year compared to a net loss per share of US$0.0041 last year. Announcement • Apr 28
Change Financial Limited to Report Q3, 2025 Results on Apr 29, 2025 Change Financial Limited announced that they will report Q3, 2025 results on Apr 29, 2025 Announcement • Apr 08
Change Financial Limited Announces Demise of Eddie Grobler, Chairman Change Financial Limited announced with great sadness that its Chairman, Mr. Eddie Grobler, has passed away. The Board, executive and all of the Change team express their deepest and sincerest condolences to his family and friends. Eddie was well-known and highly respected in the payments sector, where he had a long and successful executive career with major global institutions. Following his retirement from executive roles he made a significant contribution through his directorship of Change from November 2021 and as Chairman from November 2022. Eddie's passion for the business, his collegiate leadership, and his friendship will be remembered and greatly missed by the Board and Change team. New Risk • Mar 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$39.8m market cap, or US$25.3m). Announcement • Jan 29
Change Financial Limited to Report Q2, 2025 Results on Jan 30, 2025 Change Financial Limited announced that they will report Q2, 2025 results on Jan 30, 2025 Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 30%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$14.8m to US$16.0m. Forecast EPS reduced from -US$0.0011 to -US$0.0014 per share. Diversified Financial industry in Australia expected to see average net income growth of 0.8% next year. Consensus price target up from AU$0.13 to AU$0.15. Share price fell 7.6% to AU$0.073 over the past week. Announcement • Oct 25
Change Financial Limited to Report Q1, 2025 Results on Oct 29, 2024 Change Financial Limited announced that they will report Q1, 2025 results on Oct 29, 2024 Announcement • Oct 18
Change Financial Limited, Annual General Meeting, Nov 21, 2024 Change Financial Limited, Annual General Meeting, Nov 21, 2024. Location: office of hopgood ganim lawyers, level 8, waterfront place, 1 eagle street, brisbane queensland, Australia Announcement • Oct 17
Change Financial Limited Announces Retirement of Alastair Wilkie as Director Change Financial Limited announced that following more than five years of service to Change, Mr. Alastair Wilkie will be retiring from the board at the Annual General Meeting (AGM) to be held on 21 November 2024. Alastair stepped down from his role as CEO and Managing Director in mid 2023 and remained on the board as a Non-Executive Director to facilitate a smooth and coordinated executive transition. New Risk • Sep 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Market cap is less than US$100m (AU$52.2m market cap, or US$35.9m). Major Estimate Revision • Sep 05
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$16.0m to US$15.2m. Now expected to report a loss of US$0.0011 per share instead of US$0.0031 per share profit previously forecast. Diversified Financial industry in Australia expected to see average net income growth of 45% next year. Consensus price target down from AU$0.15 to AU$0.13. Share price was steady at AU$0.084 over the past week. Breakeven Date Change • Sep 04
Forecast breakeven date pushed back to 2026 The analyst covering Change Financial previously expected the company to break even in 2025. New forecast suggests the company will make a profit of US$798.8k in 2026. Average annual earnings growth of 102% is required to achieve expected profit on schedule. Reported Earnings • Aug 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: US$0.004 loss per share (improved from US$0.005 loss in FY 2023). Revenue: US$10.6m (up 22% from FY 2023). Net loss: US$2.57m (loss narrowed 12% from FY 2023). Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 9.4% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 23
Change Financial Limited to Report Q4, 2024 Results on Jul 25, 2024 Change Financial Limited announced that they will report Q4, 2024 results on Jul 25, 2024 Price Target Changed • Jun 21
Price target increased by 37% to AU$0.14 Up from AU$0.10, the current price target is provided by 1 analyst. New target price is 93% above last closing price of AU$0.071. Stock is up 78% over the past year. The company is forecast to post a net loss per share of US$0.0026 next year compared to a net loss per share of US$0.0054 last year. Announcement • Apr 24
Change Financial Limited to Report Q3, 2024 Results on Apr 29, 2024 Change Financial Limited announced that they will report Q3, 2024 results on Apr 29, 2024 New Risk • Mar 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (AU$38.9m market cap, or US$25.6m). Announcement • Feb 27
Change Financial Limited to Report First Half, 2024 Results on Feb 28, 2024 Change Financial Limited announced that they will report first half, 2024 results on Feb 28, 2024 Announcement • Jan 29
Change Financial Limited to Report Q2, 2024 Results on Jan 31, 2024 Change Financial Limited announced that they will report Q2, 2024 results on Jan 31, 2024 Announcement • Oct 24
Change Financial Limited to Report Q1, 2024 Results on Oct 31, 2023 Change Financial Limited announced that they will report Q1, 2024 results on Oct 31, 2023 Announcement • Sep 28
Change Financial Limited, Annual General Meeting, Nov 22, 2023 Change Financial Limited, Annual General Meeting, Nov 22, 2023. Agenda: To consider election of directors. Reported Earnings • Aug 31
Full year 2023 earnings released: US$0.005 loss per share (vs US$0.009 loss in FY 2022) Full year 2023 results: US$0.005 loss per share (improved from US$0.009 loss in FY 2022). Revenue: US$8.71m (up 4.7% from FY 2022). Net loss: US$2.92m (loss narrowed 23% from FY 2022). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$2.7m free cash flow). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (AU$34.5m market cap, or US$22.4m). Announcement • Aug 28
Change Financial Limited to Report Fiscal Year 2023 Final Results on Aug 31, 2023 Change Financial Limited announced that they will report fiscal year 2023 final results on Aug 31, 2023 Announcement • Jul 26
Change Financial Limited to Report Q4, 2023 Results on Jul 27, 2023 Change Financial Limited announced that they will report Q4, 2023 results on Jul 27, 2023 Announcement • Jul 12
Change Financial Limited Provides Update on its Vertexon Payments as A Service (PaaS) Platform and Card Issuing Capabilities Update Change Financial Limited provided the following update on its Vertexon Payments as a Service (PaaS) Platform and card issuing offering in Oceania. Issuing Capabilities Update. As a result of the Mastercard Principal Membership for Australia, Change has now successfully completed the majority of the necessary regulatory and Licensing requirements to enable card issuing in NZ, Australia and the US. The table below outlines the current status of the key licences and certifications for these jurisdictions. The deliverables shaded green indicate what has been recently completed. Change is now targeting to complete the two remaining items shaded orange in first quarter of fiscal year 24. The Vertexon PaaS Platform in Australia is now undergoing Mastercard technical certification which will enable live card issuing. This process has been recently completed for the Vertexon PaaS platform in NZ and is substantially similar in Australia. Upon completion of the two remaining items, Change will be able to issue debit and prepaid cards in NZ, Australia and the U.S. Announcement • May 22
Change Financial Limited Appoints Geoffrey Sam, OAM as Non-Executive Director Change Financial Limited announced the appointment of Mr. Geoffrey Sam, OAM as a Non-Executive Director effective 1 June 2023. Geoff is a highly experienced Company Director and currently serves as Chairman of Earlypay Ltd. and Non-Executive Director of Paragon Care Ltd. Geoff has previously served as Director of Money 3 Ltd, Hutchinson's Childcare Services Ltd. and Nova Health Ltd. He is a Co-Founding Director of Healthe Care Australia Pty Ltd, a privately owned health care company comprising a portfolio of 18 hospitals. Geoff holds a Bachelor of Commerce (Accounting and Finance) and a Master of Health Administration from the University of New South Wales, a Master of Arts (Economics and Social Studies) from the University of Manchester UK and is a Fellow of the Australian Institute of Company Directors. Reported Earnings • Mar 03
First half 2023 earnings released: US$0.004 loss per share (vs US$0.006 loss in 1H 2022) First half 2023 results: US$0.004 loss per share (improved from US$0.006 loss in 1H 2022). Revenue: US$4.28m (up 14% from 1H 2022). Net loss: US$1.96m (loss narrowed 12% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Feb 16
Change Financial Limited Announces Retirement of Alastair Wilkie as CEO, Effective 30 June 2023 Change Financial Limited announced that Mr. Alastair Wilkie, having served the Company for four years, will retire as CEO by 30 June 2023. The Board has commenced a search for Mr. Wilkie's replacement and is currently reviewing a high calibre of internal and external candidates and will update the market when a decision has been made. Mr. Wilkie has offered to remain as a Director of the Company following his retirement as CEO tofacilitate a smooth and coordinated executive transition. Announcement • Nov 25
Change Financial Limited Announces the Cessation of Benjamin Harrison as Director Change Financial Limited announced the cessation of Benjamin Harrison as director, effective 24 November 2022. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Eddie Grobler was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 24
Change Financial Limited Announces Board Changes Change Financial Limited announced the following changes to its Board of Directors. Retirement of Mr. Ben Harrison and Appointment of new Chairman. Following four years of service as Non-Executive Director and Chairman, Mr. Ben Harrison will be retiring from the Board at the Annual General Meeting (AGM) to be held on 24 November 2022. Mr. Eddie Grobler will take over the Chairman role at the completion of the AGM. Eddie joined the Board in November 2021 and has more than 34 years' experience in the payments industry. He spent 14 years working for a South African bank before joining Mastercard in 1999 as Senior Vice President for Mastercard Africa. In 2008 he was appointed as Executive Vice President for Mastercard Australasia and in 2017 he took up the role of Executive Vice President: Real Time Payments, based in the United Kingdom. The Directors believe that Eddie's experience and skills make him ideally suited for the Chairman role. Mr. Tom Russell was appointed as an alternate Director to Mr. Harrison in November 2021. Tom has made a substantial contribution to the Company in an executive capacity prior to his appointment as Director and has continued to add significant value to Change. The Directors wish to retain Mr. Russell as Director and are recommending his appointment to shareholders at the AGM. In addition, following Ben's decision to retire, the Board is currently considering potential candidates that add complementary skills and experience as well as building further independence in its composition. Announcement • Oct 04
Change Financial Limited, Annual General Meeting, Nov 24, 2022 Change Financial Limited, Annual General Meeting, Nov 24, 2022. Agenda: To consider the re-election of Directors. Reported Earnings • Sep 01
Full year 2022 earnings released: US$0.009 loss per share (vs US$0.009 loss in FY 2021) Full year 2022 results: US$0.009 loss per share (vs US$0.009 loss in FY 2021). Revenue: US$8.32m (up 32% from FY 2021). Net loss: US$3.77m (loss widened 8.4% from FY 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Eddie Grobler was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
First half 2022 earnings: EPS and revenues exceed analyst expectations First half 2022 results: US$0.006 loss per share (down from US$0.005 loss in 1H 2021). Revenue: US$3.77m (up 76% from 1H 2021). Net loss: US$2.22m (loss widened 39% from 1H 2021). Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
Change Financial Limited to Report First Half, 2022 Results on Feb 24, 2022 Change Financial Limited announced that they will report first half, 2022 results on Feb 24, 2022 Announcement • Jan 28
Change Financial Limited to Report Q2, 2022 Results on Jan 31, 2022 Change Financial Limited announced that they will report Q2, 2022 results on Jan 31, 2022 Executive Departure • Nov 29
Non-Executive Director Harley Dalton has left the company On the 25th of November, Harley Dalton's tenure as Non-Executive Director ended after 3.0 years in the role. As of September 2021, Harley still personally held 2.72m shares (AU$286k worth at the time). Harley is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.08 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Sep 01
Full year 2021 earnings released: US$0.009 loss per share (vs US$0.028 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: US$6.31m (up US$6.06m from FY 2020). Net loss: US$3.48m (loss narrowed 1.0% from FY 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 21
New 90-day high: AU$0.20 The company is up 95% from its price of AU$0.10 on 23 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 22% over the same period. Recent Insider Transactions • Oct 14
Executive Director recently bought AU$70k worth of stock On the 7th of October, Ian Leijer bought around 740k shares on-market at roughly AU$0.095 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.