Earnings release
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Public information ASX ANNOUNCEMENT 19th October 2026 Q1 FY27 Quarterly Activities Report and Appendix 4C IODM Limited (ASX: IOD) (IODM or the Company) releases its Quarterly Activities Report and accompanying Appendix 4C for the period ended 30 September 2026 (Q1 FY27 or the Quarter). Q1 FY27 highlights • Record September revenue: UK Education revenue for September was A$375,908, up 79.9% on the prior corresponding period (PCP) and 18.6% above the Company’s previous monthly revenue record in October 2025, with A$159,094 contributed by new universities. • Implementation momentum: six additional universities are in implementation across the UK and Europe, while 15 US universities are progressing through implementation with TransferMate, with all to expected to contribute before the end of Q2 FY27. • Cash receipts of A$765,000 for the Quarter, compared with A$850,000 in Q1 FY26 and A$803,000 in the preceding quarter. The forced change that IODM Connect makes to existing University cash collection behaviours dictates that the timing of the September revenue settlements in October is relevant to these comparisons. UK Education — record September revenue IODM’s UK Education platform delivered record revenue in September where revenue reached A$375,908, representing a 79.9% increase on PCP and 18.6% above the Company’s previous monthly revenue record experienced in October 2025. Established university revenue increased to A$216,814, while A$159,094 from new universities demonstrates the growing contribution from the Company’s implementation and customer-expansion strategy. September Revenue Sep-24 A$ Sep-25 A$ Sep-26 A$ Established universities 97,118 209,000 216,814 New universities – – 159,094 Total 97,118 209,000 375,908 AUD GBP 0.4985 rate as per FX trading facility
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Public information UK and Europe — expanding implementation footprint During the Quarter, six additional universities progressed into implementation across the UK and Europe. This implementation cohort builds on IODM’s established UK platform and supports the Company’s strategy to build scale through its partner relationships and its increasingly flexible commercial model. For Q1 FY27, UK Revenue was A$827,469 versus A$682,400 in Q1FY26, up 21% on PCP. New universities implemented contributed 42% of Revenue through this period. United States — first implementation cohort underway IODM’s US implementation programme commenced during the Quarter, with 15 universities progressing through implementation with TransferMate. The group represents the first reported implementation cohort within the previously announced portfolio of 283 US universities. The one-to-many implementation model is designed to accelerate deployment compared with a traditional institution-by-institution approach. The commencement of 15 US implementations is a material operational milestone and provides an initial foundation for the Company’s North American growth strategy. TransferMate has previously indicated that the universities will be live by 31 December 2026. IODM will continue to update the market on material implementation progress in accordance with its continuous disclosure obligations. University Account Status Sep-25 Sep-26 Established universities 14 15 Onboarded universities 7 Implementation Stage 1 21 Total 15 43 Outlook and priorities IODM enters the December quarter with positive operating momentum across its core UK Education business and its expanding international platform. Record September revenue, the six-university UK/Europe implementation cohort and the first 15 US implementations are evidence of the Company’s expanding platform footprint. October is traditionally the Company’s largest revenue month, with the related revenue expected to be reflected in November cash receipts. The Company’s focus remains disciplined execution: completing implementations, supporting the Northern
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Public information Hemisphere collection period, extending adoption within existing universities, progressing the US rollout and improving operating leverage as the business scales. The company’s cash position at the end of the quarter was A$747,00. After the quarterly balance date, the Company will receipt the September record month invoices of $A375,907, the Research and Development grant which is anticipated to be A$500,000 and will experience its traditionally strongest seasonal trading period over the next five (5) months. IODM CEO, Mark Reilly, said: “Record September revenue demonstrates the progress IODM is making in building a more diversified and scalable education business. Growth has been supported by both our established university base and the growing contribution from new universities. At the same time, six UK and European universities are being implemented and the first 15 US universities are progressing through implementation with TransferMate. As we move through the Northern Hemisphere peak revenue and collection period, our focus remains on disciplined delivery and converting this expanding platform footprint into sustained operating momentum.” Corporate and additional information Payments to related parties and their associates, if any, are disclosed in the accompanying Appendix 4C and should be read together with the explanation provided in that Appendix. This announcement is authorised by IODM’s Board of Directors. – END – About IODM IODM is a leading accounts receivable (AR) solution provider that uses digital technology to optimise automation. IODM Connect is a cloud-based platform that delivers an end-to-end AR process supporting invoicing, query management, payment reminders, escal ation and analytics. IODM Connect is designed to support client productivity and timely customer payments while reducing costs, minimising human error and decreasing bad and doubtful debt provisioning. The platform is currency agnostic and can integrate with accounting and ERP software packages. IODM operates globally and is headquartered in Melbourne, Australia. For more information, visit www.iodmconnect.com. For more information, please contact General enquiries Corporate Communications Tony Smith Tony.Smith@iodm.com.au IODM Limited | ABN 28 102 747 133 | Level 23, 385 Bourke Street, Melbourne VIC 3000 | www.iodmconnect.com
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Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Internal Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity IODM LIMITED ABN Q uarter ended (“current quarter”) 28 102 747 133 30 S ep 26 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities 765 765 1.1 Receipts from customers 1.2 Payments for - - ( a) research and development ( b) product manufacturing and operating costs (356) (356) (c ) advertising and marketing - - ( d) leased assets - - ( e) staff costs (833) (833) ( f) administration and corporate costs (205) (205) 1.3 Dividends received (see note 3) - - 1.4 Interest received - - 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 20 20 1.8 Other (provide details if material) 0 0 1.9 Net cash from / (used in) operating activities (611) (611) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: ( a) entities ( b) businesses - - (c ) property, plant and equipment - - ( d) investments - -
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Internal Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 ( e) intellectual property - - ( f) other non-current assets - - 2.2 Proceeds from disposal of: - - ( a) entities ( b) businesses - - (c ) property, plant and equipment - - ( d) investments - - ( e) intellectual property - - ( f) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (Redeem refundable security deposit) 32 32 2.6 Net cash from / (used in) investing activities 32 32 3. Cash flows from financing activities 928 92 8 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings (47) (47) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities 881 881 4. Net increase / (decrease) in cash and cash equivalents for the period 425 425 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) (611) (611)
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Internal Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4.3 Net cash from / (used in) investing activities (item 2.6 above) 32 32 4.4 Net cash from / (used in) financing activities (item 3.10 above) 881 881 4.5 Effect of movement in exchange rates on cash held 20 20 4.6 Cash and cash equivalents at end of period 747 747 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 747 747 5.2 Call deposits 0 0 5.3 Bank overdrafts 0 0 5.4 Other (provide details) 0 0 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 747 747 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 25 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. Internal 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the s ources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 1, 400 1,4 00 7.2 Credit standby arrangements 0 0 7.3 Other (please specify) 0 0 7.4 Total financing facilities 1,400 1,400 7.5 Unused financing facilities available at quarter end 0 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. $400K unsecured loan from Plutus Pty Limited at 15% pa maturity date March 2027 $1M K facility secured loan from Riverfort Capital at 9.6% pa maturity date March 27 can be repaid in equity at lenders choice. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (611 ) 8.2 Cash and cash equivalents at quarter end (item 4.6) 74 7 8.3 Unused finance facilities available at quarter end (item 7.5) - 8.4 Total available funding (item 8.2 + item 8.3) 747 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 1.2 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8. 6. 1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: No, as the company has seen its UK revenue grow % for the first quarter of FY2 7, which has flowed into cash receipts and reduced net cash outflows on compared to the pcp. Given that the second quarter generally represents the UK’s strongest quarter, given the commencement of the academic year for Northern hemisphere universities coincides with higher student payments. The Company expects to receive its R &D tax incentive of $500K in the second quarter.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. Internal 8. 6. 2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? A nswer: The IOD Board will continue to manage capital in a prudent manner that benefits shareholders. The directors will continue to run low cash liquidity levels for the foreseeable future to ensure that shareholder value is protected, whilst it monitors the timing and acceleration of its North American platform rollout. 8. 6. 3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? IOD expects to continue its operations and meet it business objectives as pursuant to the answers provided in Questions 1 and 2 of Section 8.6 Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. 19 OCTOBER 2026 Date: ................................................................................... BY THE BOARD OF IODM LIMITED Authorised by: ................................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee] ”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.