Bailador Posts 7.8% Portfolio Return and Declares 3.6c Fully-Franked Dividend
Bailador Technology Investments reported a solid $19.3 million net profit for FY25, declared a fully-franked dividend yielding 8.1% grossed-up, and deployed $40.8 million into expanding its fast-growing tech portfolio.
- Net profit after tax of $19.3 million for FY25
- 7.8% net portfolio return post-tax after fees
- Fully-franked final dividend of 3.6 cents per share declared
- Invested $40.8 million including new stakes in PropHero and Hapana
- Realised $20 million from partial sale of SiteMinder
Strong Financial Performance and Dividend
Bailador Technology Investments (ASX – BTI) has announced its FY25 results, showcasing a net profit after tax of $19.3 million and a portfolio return of 7.8% after fees and tax. The company declared a fully-franked final dividend of 3.6 cents per share, translating to an attractive 8.1% grossed-up annualised yield. This dividend continues Bailador’s commitment to delivering a stable and fully-franked income stream to shareholders, supported by a dividend reinvestment plan (DRP) with a 2.5% discount.
Active Capital Deployment in High-Growth Tech
During FY25, Bailador deployed and committed $40.8 million in cash, including investments in two new portfolio companies – PropHero, a digital real estate platform, and Hapana, a men’s digital healthcare provider. These investments complement follow-on funding in existing portfolio companies such as Access Telehealth, DASH, and Rosterfy. The fund also realised $20 million from a partial sale of SiteMinder, reflecting its strategy of recycling capital to fuel growth.
Portfolio Growth and Valuation Discipline
Bailador’s portfolio companies continue to demonstrate strong growth, with recurring revenue at approximately 87% and an average gross margin near 65%. Notably, private investments DASH and Updoc delivered gross returns of 33% in FY25, with Updoc’s carrying value increasing by 86% following exceptional revenue growth and profitability. Despite these gains, management maintains a conservative approach to portfolio valuation, aiming to realise investments above their carrying values as the fund enters a new cycle of realisations.
Outlook and Market Positioning
Co-Founders David Kirk and Paul Wilson expressed optimism for FY26, highlighting the fund’s strong balance sheet, disciplined investment approach, and the robust performance of key portfolio companies. With a net tangible asset per share of $1.64 post-tax and a growing dividend yield, Bailador positions itself as an attractive option for investors seeking exposure to fast-growing technology companies through a managed fund structure.
Bottom Line?
Bailador’s FY25 results reinforce its role as a disciplined, growth-focused tech investor with a reliable dividend, setting the stage for an active FY26.
Questions in the middle?
- How will Bailador’s new investments in PropHero and Hapana perform in the coming year?
- What impact will the partial sale of SiteMinder have on future capital deployment?
- Can Bailador sustain its conservative valuation approach amid rising market multiples?
