Company Interview / Strategic review & UK expansion on PEXA's agenda

Key points:

PEXA (ASX:PXA) reports 16% group revenue growth, though profit impacted by impairmentsStrategic review of Digital Solutions segment underway, may lead to divestments or new partnershipsImpairment of interoperability software driven by regulatory program pauseNew compliance products under development for impending anti-money laundering regime in AustraliaNatWest announced as first tier one lender for PEXA’s UK expansion

PEXA (ASX:PXA) has posted a 16% revenue growth across all segments, according to Russell Cohen, with each segment delivering positive momentum. Cohen explains that the recent drop in profit stems primarily from impairments and non-cash, non-recurring items, resulting in a year-on-year decline in statutory profits. Cohen emphasises the national significance of PEXA as critical infrastructure within Australia, highlighting strong potential in both the domestic and UK markets. He notes the ongoing strategic review of PEXA’s Digital Solutions segment—which includes majority and minority stakes in property data businesses—aiming to conclude by year end and potentially leading to divestments, further investments or new partnerships.

Cohen also addresses the recent impairment of the interoperability software asset, attributing the write-off to accounting requirements owing to the software’s inactivity and the paused regulatory program. Looking ahead, Cohen sees substantial opportunities for PEXA as the Australian property sector prepares for incoming anti-money laundering legislation from July 2026. He indicates PEXA is developing compliance products to support its large customer base of legal professionals.

Cohen is optimistic about the UK market, announcing NatWest’s commitment as PEXA’s first tier one lender. Ongoing onboarding efforts target further expansion. Cohen maintains guidance of modest revenue growth and increased operational expenses, as PEXA enhances its presence and network both in Australia and abroad.