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Xref Ltd
(Sydney:XF1)
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Rating:42Neutral
Price Target:
AU$0.06
▼(-64.38% Downside)
Action:Reiterated
Date:09/06/26
The score is held down primarily by weak financial fundamentals—negative equity, continued net losses, and recently declining revenue—despite improving EBITDA and positive free cash flow. Technicals add pressure as the stock trades below all key moving averages with negative MACD. Valuation contributes limited support due to losses reflected in a negative P/E and no dividend yield.
Positive Factors
SaaS recurring revenue model
Xref’s cloud-based platform sells access and per-check services, giving recurring and transaction-linked revenue. That business model produces predictable cash inflows, customer retention opportunities and upsell paths across employers and recruiters, supporting durable revenue visibility.
Negative Factors
Weak balance sheet / negative equity
Negative shareholders’ equity and high leverage signal potential solvency and refinancing risks. Over a multi-month horizon this constrains strategic flexibility, raises cost of capital, and can force conservative capital allocation or dilution if external funding is required.
Read all positive and negative factors
Positive Factors
Negative Factors
SaaS recurring revenue model
Xref’s cloud-based platform sells access and per-check services, giving recurring and transaction-linked revenue. That business model produces predictable cash inflows, customer retention opportunities and upsell paths across employers and recruiters, supporting durable revenue visibility.
Read all positive factors
Xref Ltd (XF1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$12.99M
Dividend YieldN/A
Average Volume (3M)289.47K
Price to Earnings (P/E)―
Beta (1Y)-0.28
Revenue Growth-10.18%
EPS Growth80.00%
CountryAU
Employees74
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)N/A
Shares Outstanding220,089,770
10 Day Avg. Volume355,898
30 Day Avg. Volume289,469
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)-3.97
Price to Sales (P/S)0.94
P/FCF Ratio32.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Xref Ltd Business Overview & Revenue Model
Company Description
Headquartered in Sydney, Australia, Xref Limited is an HR technology company specializing in the automation of candidate reference checks for employers. Its services are available in Australia, Canada, the United Kingdom, New Zealand, and the Unit...
How the Company Makes Money
Xref makes money primarily by charging businesses for access to and usage of its cloud-based screening and reference-checking platform. Revenue is generated through recurring SaaS-style fees (e.g., subscriptions or contracts for platform access) a...
Xref Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
56
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.14M | 21.31M | 19.86M | 20.40M | 18.59M |
| Gross Profit | 3.81M | 19.03M | 17.33M | 17.15M | 14.92M |
| EBITDA | 1.77M | -1.87M | -1.76M | -1.36M | 1.57M |
| Net Income | -432.07K | -1.95M | -5.68M | -3.36M | 729.58K |
Balance Sheet | |||||
| Total Assets | 17.15M | 19.16M | 20.36M | 22.90M | 20.17M |
| Cash, Cash Equivalents and Short-Term Investments | 2.33M | 5.29M | 4.59M | 6.84M | 11.67M |
| Total Debt | 6.30M | 7.83M | 8.35M | 5.33M | 4.96M |
| Total Liabilities | 21.01M | 23.55M | 26.21M | 23.10M | 18.70M |
| Stockholders Equity | -4.55M | -4.39M | -5.85M | -202.52K | 1.47M |
Cash Flow | |||||
| Free Cash Flow | 548.77K | 1.35M | -3.80M | -2.17M | -833.27K |
| Operating Cash Flow | 569.87K | 1.36M | -678.80K | 454.40K | 627.48K |
| Investing Cash Flow | -2.01M | -1.91M | -3.12M | -4.34M | -1.46M |
| Financing Cash Flow | -1.52M | 1.24M | 1.56M | -952.81K | 380.71K |
Xref Ltd Technical Analysis
Negative
0.16
Price Trends
0.06
Negative
0.07
Negative
0.10
Negative
Market Momentum
>-0.01
Positive
46.73
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:XF1, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and above the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:XF1.
Xref Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$49.27M | 6.53 | 27.21% | 5.75% | 4.58% | 39.54% | |
71 Outperform | AU$586.11M | 14.86 | 33.67% | 4.38% | 6.59% | 4.49% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | AU$191.52M | -38.48 | -3.57% | ― | 2.61% | 70.72% | |
42 Neutral | AU$12.99M | -29.50 | 8.99% | ― | -10.18% | 80.00% | |
41 Neutral | AU$12.20M | -2.96 | -146.51% | ― | -23.49% | -57.78% | |
40 Underperform | AU$4.05M | -0.84 | 564.22% | ― | -1.21% | -10.88% |
* Technology Sector Average
AU:XF1
Xref Ltd
0.06
-0.12
-67.22%
AU:RKN
Reckon Limited
0.44
-0.13
-22.87%
AU:CF1
Complii Fintech Solutions Ltd
0.02
>-0.01
-4.55%
AU:RDY
ReadyTech Holdings Ltd.
1.52
-0.60
-28.30%
AU:OCL
Objective Corporation Limited
5.94
-13.95
-70.13%
AU:ID8
Identitii Ltd.
0.86
-1.35
-61.14%
Xref Ltd Corporate Events
Xref boosts earnings and secures CBA refinancing to cut debt costs
Aug 31, 2026
Xref reported audited FY26 results showing underlying EBITDA of A$4.7 million, a 76% year-on-year increase, and group annual recurring revenue of A$15.7 million, with more than 71% generated on its new platform. The company ended the year with A$2...
Xref Narrows Annual Loss Despite Revenue Decline
Aug 31, 2026
Xref Limited reported a 10.2% decline in revenues from ordinary activities to $19.14 million for the year ended 30 June 2026, while significantly narrowing its loss after tax to $432,066, a 77.9% improvement on the prior year. Total comprehensive ...
Xref lifts June-quarter sales and turns cash flow positive on new platform momentum
Jul 5, 2026
Xref Limited reported a strong June quarter, with total sales of $5.35 million driven by a 14% rise in core platform revenue and solid contributions from Engage renewals, cap extensions and new client wins. The company also saw robust demand for i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.