Earnings release
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1 “Free cash flow” is defined as Net increase in cash and cash equivalents less cash flow from proceeds from disposal of subsidiaries and net investment in term deposits ASX Code: FDV 28 August 2026 Half Year 30 June 2026 Financial Statements Strategic Reset Continues to Deliver Structural Margin Expansion Frontier Digital Ventures Ltd changed its presentational currency from AUD to USD with effect from 1 January 2026, and accordingly, have presented its half year financial statements for the period ended 30 June 2026 in USD. All numbers below are in USD unless stated otherwise. Operational Update The reported financial performance for the interim period reflects continued execution of FDV’s strategic reset, with management focused on core revenue streams, operational efficiency, simplification of the customer proposition and disciplined cash management. The effect of which is reflected in the improvement in the Group’s EBITDA margin in the period of 17% (1H 2025 : 10%) and Free Cashflow1 increase in the six months to 30 June 2026 of $2.34m (1H 2025 : $0.57m). 1H 2026 1H 2025 Change USD’000 USD’000 Restated USD’000 % Summary of core operating results from continuing operations Group Statutory Revenue 14,441 19,773 (5,332) (27%) Group Operating Expenses (12,049) (17,754) 5,705 32% Group Statutory EBITDA 2,392 2,019 373 18% Group EBITDA % margin 17% 10% - 7pp EBITDA from Associates 1,242 1,186 56 5% Group Operating EBITDA (inc. Associates) 3,634 3,205 429 13% Foreign exchange gain 927 117 810 692% Depreciation and amortisation (1,088) (2,440) 1,352 55% EBIT 2,231 (304) 2,535 834% Free cashflow increase1 2,339 571 1,768 310% Free cashflow conversion 98% 28% 70pp Revenue Following the cessation of low-margin and loss-making revenue streams in the prior accounting period the Group turned its focus to core revenue streams in 1H 2026, driving EBITDA margins through operational efficiency and pricing strategy. Amongst the changes made in the Group which impacted EBITDA margins and ARPA: - Price rises were affected in most core markets for selected services and subscription packages - Product offering to customers were simplified (e.g. reducing variations of subscription package), which reduced operating complexity. Allowing the sales force to focus on larger customers with higher potential ARPA. - Subscription packages and behaviour of the corresponding customer segments were reviewed, resulting in rebundling of packages to match demand. - Targeted messaging to customers to raise awareness on the effects of depth products on lead generation (e.g. featured listings, etc)
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Personnel Efforts on workforce efficiency initiatives which commenced in the second half of 2025, continued into 1H 2026. Group headcount at the end of June 2026 was 8% lower than 31 December 2025, following a 13% decrease in headcount in the second half of 2025. As a result, average monthly headcount in 1H 2026 was 19% lower than pcp , with corresponding employment costs 16% lower than pcp. Change in Presentational Currency to USD The decision to change the presentational currency of FDV to USD effective from 1 January 2026 was driven by the intent to provide investors with a clearer view of underlying operating performance by reducing the impact of AUD/USD translation movements on reported performance. With all cross -border investments denominated in USD, it was also expected that the change in presentational currency would allow readers to better understand movements of investment-related balances on the consolidated balance sheet (such as goodwill and intangible assets). Historical financial performance for HY2025 and YE2025 in AUD and USD are presented below. Other Comprehensive Income and Reserves The most significant impact of the change in presentation currency is in the reported Other Comprehensive Income (OCI) in the P&L (below profit after tax) and in Reserves on the Balance Sheet. Accounting standards require the issued share capital of Frontier Digital Ventures Ltd to be translated to US dollars at the prevailing historical exchange rate on the date of the share issuance. Exchange differences generated by applying this prescribed m ethod of translation are recorded in Other Comprehensive Income (movement for the reporting period) and in Foreign Currency Reserves. As at 30 June 2026, the effective exchange rate of the translation of Share Capital at historic spot rate was 0.72 (AUD 1 to USD 0.72) Summary FDV continues to make further progress toward its strategic objective of building a focused, efficient and cash-generative portfolio of online classifieds businesses with the aim of achieving its North Star of 40% EBITDA margin with 75% cashflow conversion. An investor presentation will be released to the ASX before 21 September 2026. For more information, please contact: Company Luke Elliott Director Email: investorcentre@frontierdv.com
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Unaudited Unaudited Year ended 31 Dec 2025 Year ended 31 Dec 2025 Half year ended 30 Jun 2025 Half year ended 30 Jun 2025 (Restated) USD AUD USD AUD Revenue 35,242,521 54,831,639 19,772,975 31,193,365 Administrative expenses (1,800,093) (2,800,836) (1,579,962) (2,496,417) Production costs (5,868,056) (9,190,708) (3,623,348) (5,713,343) Employment expenses (13,043,610) (20,279,139) (6,922,803) (10,940,425) Advertising and marketing expenses (4,834,056) (7,548,459) (3,001,877) (4,744,732) Premises and infrastructure expenses (3,925,737) (6,077,784) (1,918,169) (3,018,656) Other expenses (2,255,814) (3,454,792) (707,557) (1,114,708) Foreign exchange gain/(loss) (205,548) (340,082) 116,747 146,741 Depreciation and amortisation (6,334,919) (9,763,664) (2,439,522) (3,849,739) Operating profit/(loss) (3,025,312) (4,623,825) (303,516) (537,914) Misappropriated funds and associated professional and advisory fees (560,021) (842,551) (324,760) (500,000) Interest and penalties incurred due to misappropriation of funds (22,164) (33,346) - - Interest income 165,812 256,492 75,616 119,181 Interest expense (120,235) (184,185) (20,172) (31,873) Profit/(Loss) on disposal of subsidiaries 1,066,298 1,723,137 1,066,298 1,723,137 Loss on impairment of loans to disposed subsidiaries (814,171) (1,308,047) (814,171) (1,308,047) Impairment of goodwill (8,793,330) (13,229,565) - - Share of net (loss)/profit from associates - Share of net (loss)/profit before foreign exchange loss 1,308,740 2,024,483 796,335 1,243,113 - Share of foreign exchange loss (765,121) (1,214,657) (1,048,726) (1,649,677) 543,619 809,826 (252,391) (406,564) Profit/(loss) before income tax (11,559,504) (17,432,064) (573,096) (942,080) Income tax (expense)/benefit (416,007) (626,299) (75,726) (115,037) Net profit/(loss) after tax (11,975,511) (18,058,363) (648,822) (1,057,117) Profit/(loss) attributable to: Owners of the Company (11,943,205) (18,005,648) (598,405) (975,759) Non-controlling interests (32,306) (52,715) (50,417) (81,358) (11,975,511) (18,058,363) (648,822) (1,057,117) Other comprehensive income, net of tax Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations 1,163,632 (7,352,535) 502,967 (5,969,349) Share of other comprehensive income of associates 1,032,719 1,644,274 1,136,348 1,788,682 Other comprehensive income for the period, net of tax 2,196,351 (5,708,261) 1,639,315 (4,180,667) Total comprehensive profit/(loss) for the period (9,779,160) (23,766,624) 990,493 (5,237,784) Total comprehensive profit/(loss) attributable to: Owners of the Company (9,720,001) (23,182,343) 1,022,174 (4,924,483) Non-controlling interests (59,159) (584,281) (31,681) (313,301) (9,779,160) (23,766,624) 990,493 (5,237,784) Frontier Digital Ventures Ltd T03/L01. Menara TH Uptown No.3 Jalan SS 21/39, Damansara Utama 47400 Petaling Jaya, Selangor, Malaysia
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION Unaudited Unaudited Year ended 31 Dec 2025 Year ended 31 Dec 2025 Half year ended 30 Jun 2025 Half year ended 30 Jun 2025 USD AUD USD AUD ASSETS Current assets Cash and cash equivalents 6,120,223 9,158,914 7,133,263 10,888,213 Trade and other receivables 5,817,433 8,705,789 10,182,206 15,542,898 Other assets 7,744 11,590 33,645 51,356 Other financial assets 1,045,123 1,564,026 1,015,123 1,549,483 Tax receivables 847,250 1,267,910 11,218 17,123 Total current assets 13,837,773 20,708,229 18,375,455 28,049,073 Non-current assets Property, plant and equipment 665,880 996,490 1,000,662 1,527,411 Right-of-use assets 422,615 632,444 447,230 682,651 Other intangible assets 5,649,607 8,454,637 8,372,868 12,780,345 Goodwill 54,773,200 81,968,094 63,566,530 97,027,952 Investments in Associates 4,263,001 6,379,582 3,570,622 5,450,197 Deferred tax assets 78,822 117,957 48,692 74,324 Total non-current assets 65,853,125 98,549,204 77,006,604 117,542,880 Total assets 79,690,898 119,257,433 95,382,059 145,591,953 LIABILITIES Current liabilities Trade and other payables 6,809,095 10,189,810 12,434,815 18,980,498 Borrowings 37,151 55,596 - - Billings in advance 1,632,436 2,442,940 1,215,954 1,856,032 Current lease liabilities 462,559 692,219 393,367 600,435 Tax payables 371,561 556,041 - - Total current liabilities 9,312,802 13,936,606 14,044,136 21,436,965 Non-current liabilities Deferred tax liability 202,024 302,329 291,267 444,590 Non-current lease liabilities 81,655 122,197 157,928 241,061 Total non-current liabilities 283,679 424,526 449,195 685,651 Total liabilities 9,596,481 14,361,132 14,493,331 22,122,616 NET ASSETS 70,094,417 104,896,301 80,888,728 123,469,337 EQUITY Share capital 188,220,462 261,367,453 187,993,265 261,019,863 Reserves (53,209,615) (48,560,833) (53,560,385) (46,941,076) Accumulated losses (60,275,439) (102,183,836) (48,930,638) (85,875,772) 74,735,408 110,622,784 85,502,242 128,203,015 Non-controlling interests (4,640,991) (5,726,483) (4,613,514) (4,733,678) TOTAL EQUITY 70,094,417 104,896,301 80,888,728 123,469,337 Frontier Digital Ventures Ltd T03/L01. Menara TH Uptown No.3 Jalan SS 21/39, Damansara Utama 47400 Petaling Jaya, Selangor, Malaysia