Financial Data and Key Metrics Changes - Revenue increased by 21% to $49.4 million, exceeding guidance of 15-20% [5][7] - Underlying EBITDA margin decreased slightly to 24% from 25% in the previous year, while underlying EBITDA rose by 17% [7][26] - Reported EBITDA surged by 39% to $10.6 million, with reported EPS up 37% to 1.87¢ per share [7][8] - Net profit after tax and amortization increased by 42% to $5.9 million, with net profit after tax up 59% [7][21] Business Line Data and Key Metrics Changes - Wealth segment revenue grew by 38%, while business revenue increased by 7%, contributing to the overall 21% revenue growth [21][23] - Self-Managed Superannuation Fund (SMSF) revenue rose by 19%, marking a return to growth after a previous decline [23] - Accounting division revenue increased by 11%, while capital revenue remained flat [23] Market Data and Key Metrics Changes - Funds under management increased by 58%, partly due to the Lincoln acquisition, adding $600 million [8][9] - The number of high net worth investors grew by 3,300, significantly expanding the client base [9][16] Company Strategy and Development Direction - The company aims to achieve $100 million in revenue by FY 2028 to FY 2030, with a focus on both organic and acquisition-driven growth [36][63] - Emphasis on technology integration, including a full technology review and the implementation of AI to enhance service delivery [14][19][60] - The strategy includes deep integration of acquired businesses to maximize value and client service [64][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving growth targets, citing a strong pipeline of acquisition opportunities and a favorable operating environment [49][50] - The company is not reliant on equity capital markets for growth, focusing instead on its diverse service offerings [72] - Management acknowledged the potential impact of AI on operations but emphasized a balanced approach to technology adoption [59][60] Other Important Information - The company has maintained a modest debt level at 1.3 times underlying EBITDA, with plans to reduce working capital tied up [7][29] - Dividends increased by 5% for the final dividend, reflecting a commitment to returning value to shareholders [8][31] Q&A Session Summary Question: How confident is the company in achieving the $100 million revenue target? - Management expressed strong confidence based on past performance and the current growth trajectory, with a mix of organic and acquisition-driven growth [36][39] Question: Can you elaborate on the organic and inorganic growth split? - Revenue growth was 21%, with approximately 7% from organic growth and the remainder from acquisitions, particularly noting the contributions from Lincoln and Altor [40][41] Question: What were the key drivers behind the reported EBITDA increase? - The reduction in non-recurring items significantly contributed to the improvement in reported EBITDA, alongside an increase in underlying EBITDA [44][45] Question: How are the recent acquisitions performing? - Recent acquisitions are performing well, with strong integration and cross-referrals contributing to overall business growth [47][48] Question: What is the company's approach to future M&A activity? - The company is actively seeking further acquisitions, focusing on quality and fit rather than volume, with a clear strategy for integration [53][54] Question: How does the company plan to fund its acquisition pipeline? - Funding will be supported by an existing facility with Westpac and a strategy of issuing shares as part of acquisition considerations [55][56] Question: What is the target net debt to EBITDA ratio? - The target is to maintain a net debt to EBITDA ratio between 1 and 1.5 times, balancing growth, dividends, and cash retention [58] Question: How does the company view the impact of AI on its revenue streams? - While AI presents opportunities, it is also seen as a challenge, with a focus on empowering staff and enhancing client service through technology [59][60]