Tyro Reports $61.6M EBITDA on $43B Transactions, Eyes New Verticals

Financial Performance and Growth

Tyro Payments Limited has delivered a solid financial performance for the year ended 30 June 2025, reporting a slight increase in transaction value to $43.0 billion, up 0.2% from the previous year. Normalised revenue grew 3.1% to $486.1 million, supported by a 4.4% rise in gross profit to $220.1 million. The company’s EBITDA climbed 10.6% to $61.6 million, representing a healthy margin of 28%, reflecting disciplined expense management and operational efficiency improvements.

Despite these positive trends, statutory net profit after tax fell 30.7% to $17.8 million, primarily due to higher depreciation and amortisation expenses linked to investments in new payment terminals and banking infrastructure, as well as the absence of one-off gains recorded in the prior year.

Strategic Expansion and Product Innovation

Tyro has continued to innovate and expand its market reach, launching the next-generation Tyro Pro and Pro Key payment terminals, designed to offer faster, more reliable, and integrated payment experiences across retail, hospitality, and healthcare sectors. The company also advanced its banking integration by partnering with a third-party bank-as-a-service provider, with a new platform currently in pilot and expected to roll out to merchants in early FY26.

Significantly, Tyro broadened its addressable market by entering new sub-verticals including pet insurance, aged care, unattended payments (such as EV charging and parking), and automotive sales and service. These sectors add over $40 billion to Tyro’s potential market and align with its strategy to deliver tailored, industry-specific payment solutions.

Leadership Changes and Governance

The company announced that CEO Jon Davey will resign effective December 2025, with a formal search underway for his successor. The Board has welcomed new leadership talent in key executive roles during FY25, including a new CFO, Chief Product Officer, and Chief Technology Officer, aiming to sustain momentum and strategic execution.

Tyro’s governance framework remains robust, with a strong focus on sustainability, risk management, and compliance. The company continues to embed environmental, social, and governance (ESG) initiatives, including a commitment to Australian Sustainability Reporting Standards starting FY26, and ongoing efforts to reduce its carbon footprint and support merchant sustainability.

Outlook and Market Position

Looking ahead, Tyro expects continued growth in gross profit to between $230 million and $240 million in FY26, alongside an improved EBITDA margin target of 28.5% to 30%. While macroeconomic conditions remain subdued, early signs of recovery in discretionary sectors like hospitality and retail provide cautious optimism. The company’s strong balance sheet, with $286 million in cash and investments and $19.6 million free cash flow generated in FY25, positions it well to pursue organic growth and strategic acquisitions.

Tyro’s focus on delivering seamless omnichannel payment and banking experiences, combined with its expansion into new industry verticals, underpins its strategy to deepen merchant relationships and enhance shareholder value.