By Digifin Pty Ltd · About this coverage
Key Points
- FY27 Group Core NPAT guidance cut to ($6m) to $6m, from $5m to $20m
- FY27 Group Revenue guidance lowered to $355m-$380m, from $385m-$415m
- Group EBITDA margin range lowered to 29.0%-31.5%
- 1Q27 Exchange volumes of 934k, down (11.5%) on the PCP
- October 2026 transfer volumes 26% lower than the PCP
About PEXA (ASX:PXA)
PEXA Group Limited is an ASX-listed operator of digital property settlement infrastructure, headquartered in Melbourne. Its electronic lodgement network allows lawyers, conveyancers and financial institutions to lodge land registry documents and complete property settlements online, and it is regulated as an electronic lodgement network operator under Australia's electronic conveyancing framework. It also operates remortgage software and services in the United Kingdom.
PEXA (ASX:PXA) cut its FY27 guidance as falling Australian property transfer volumes weigh on revenue, and now expects Group Core NPAT from continuing operations of ($6m) to $6m, down from $5m to $20m.
Updated Group Revenue guidance is $355m-$380m, from $385m-$415m, and the Group EBITDA margin range is 29.0%-31.5%, from 31.5%-33.5%. Group Capex guidance narrowed to ($45m-$50m), and International operating cash flow guidance is unchanged at ($55m-$65m). Exchange transaction volumes in 1Q27 were 934k, down (11.5%) on the PCP, with transfers down (15.2%) to 566k and refinances down (6.4%) to 233k. In October 2026, transfer volumes were 26% lower than the PCP while remortgage volumes were broadly flat. The company attributes the decline to consecutive interest rate rises, tax changes and falling property prices. National market penetration was 90%. In the UK, Optima Legal remortgage completions grew 13% to 15.4k and Smoove remortgage completions fell (18%) to 7.4k, and PEXA expects its first Sale and Purchase transaction with NatWest by end of March 2027.
Core figures are reported results adjusted for significant non-recurring items. IPART's final report on ELNO service fees is to be made public by 18 November 2026, after which ARNECC will determine whether any changes to PEXA's prices are required. The release does not quantify any potential pricing impact.
Source: PEXA Group Limited (ASX:PXA), 11 November 2026. Summary content supplied by Digifin Pty Ltd.
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