Kinatico Ltd

ASX:KYP

Kinatico Ltd

ASX:KYP
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$0.180 (-5.3%)
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#64
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19
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Forum Topics KYP KYP 1H26 Results

Pinned straw:
Rick
Last edited 4 weeks ago

Kinatico looks like an interesting, fast growing SaaS business and the 1H26 results look impressive. However, it appears the market was expecting more with the share price down 9% today (14/01/26). This looks like a good business to own, but at what price? It currently trades on 100 times FY25 earnings and 45 times analyst earnings forecasts for FY26. It stays on my watchlist until I can work out what it’s worth.

Highlights

  • Q2FY26 SaaS revenue of $4.9m (up $1.5m or 42% on prior corresponding period (pcp)), representing 58% of total revenue (46% pcp) with annualised SaaS revenue of $19.7m on the basis of Q2FY26 run rate
  • H1FY26 total revenue of $17.6m (up $2.0m or 13% on pcp)
  • Kinatico’s H1FY26 closing cash and cash equivalents balance was $10.4m (up $0.6m on pcp)
  • H1FY26 SaaS revenue of $9.7m (up $3.2m or 49% on (pcp)


Leading Australian “Know Your People” RegTech company, Kinatico Limited (ASX: KYP) (Company or Kinatico) is pleased to provide the following unaudited flash results for the first half of the 2026 financial year.

Kinatico CEO Michael Ivanchenko said: "Annualised SaaS revenue has grown 42% to $19.7m, with SaaS now representing 58% of quarterly revenue. This is clear evidence of the success of our strategy.

At the same time, we have launched our new solution, Kinatico Compliance continues to resonate with SMEs and also large enterprise. The combination of the ongoing operational performance and the addition of our new solution gives confidence that we are well positioned for continued momentum. Disciplined execution, while remaining cash accretive reflects the operational leverage emerging in the business. To the Kinatico team—thank you for your continued commitment to our customers and delivery of our common goals. These results are yours."

Not held
rh8178
Added 4 weeks ago

Hi Rick,

I've invested in Kinatico IRL and in SM.

There's a recent meeting with the CEO in Strawman, but also I'd review a few recent presentations they've done over the last 12 months. I think this business is at an inflection point, with R&D/development expenses for their core product coming off in next few years and revenue growing (the CEO talks about this in a previous presentation) - to me this makes the bottom line a lot stronger from FY26 onwards and as a result, my view is you can ignore FY25 multiple and take a more optimistic view than the FY26 analyst view. I get a forward multiple more like 25 for FY26, based on this view and therefore something much more reasonably valued. I like the CEO, but I really like the Chief Marketing guy - absolutely across his brief and very cogent on the product opportunities. In many ways the management team is a bit overpowered for this size company given their background, but it confirms to me they are thinking about the business on a much broader scale than it is today. I'm seriously considering increasing my allocation here based on the fall today.

Rich

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rh8178
Added 4 weeks ago

PS I found this after exiting my investment in RUL and thinking I'd like to replace it with another quality SAAS company, to me there are some similarities...I hope :-)

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