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Xref Ltd
(Sydney:XF1)
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Rating:43Neutral
Price Target:
AU$0.05
▼(-71.88% Downside)
Action:Reiterated
Date:09/17/26
The score is held back primarily by a structurally weak balance sheet (negative equity) and still-negative profitability, despite improving operating performance (positive EBITDA) and a rebound to positive free cash flow. Technicals add pressure as the stock is in a clear downtrend with bearish momentum; valuation offers limited support given a negative P/E and no dividend yield data.
Positive Factors
Improving Operating Performance
The move to positive EBITDA indicates that cost actions and operating scale are beginning to improve the core business economics. If sustained, this can strengthen internal funding capacity and provide a foundation for the company to progress toward full operating profitability.
Negative Factors
Negative Equity and Leverage
Persistent negative equity leaves the company with little balance-sheet cushion and limits financial flexibility during a downturn. Meaningful debt alongside a shrinking asset base increases dependence on external funding and can constrain investment, restructuring, or growth decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Operating Performance
The move to positive EBITDA indicates that cost actions and operating scale are beginning to improve the core business economics. If sustained, this can strengthen internal funding capacity and provide a foundation for the company to progress toward full operating profitability.
Read all positive factors
Xref Ltd (XF1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.34M
Dividend YieldN/A
Average Volume (3M)170.84K
Price to Earnings (P/E)―
Beta (1Y)-0.27
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. Volume74,977
30 Day Avg. Volume170,836
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 | 690.70K | -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
0.06
Negative
0.09
Negative
Market Momentum
>-0.01
Negative
25.42
Positive
46.15
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 0.05, above the 50-day MA of 0.06, and above the 200-day MA of 0.09, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 25.42 is Positive, neither overbought nor oversold. The STOCH value of 46.15 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$47.01M | 6.23 | 27.21% | 6.02% | 4.58% | 39.54% | |
71 Outperform | AU$545.95M | 14.64 | 33.67% | 4.55% | 6.59% | 4.49% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | AU$156.93M | -32.15 | -3.57% | ― | 2.61% | 70.72% | |
43 Neutral | AU$10.34M | -23.50 | 8.99% | ― | -10.18% | 80.00% | |
42 Neutral | AU$4.72M | -0.92 | 564.22% | ― | -1.21% | -20.92% | |
41 Neutral | AU$15.30M | -3.52 | -146.51% | ― | -23.49% | -57.78% |
* Technology Sector Average
AU:XF1
Xref Ltd
0.05
-0.11
-70.63%
AU:RKN
Reckon Limited
0.42
-0.14
-25.09%
AU:CF1
Complii Fintech Solutions Ltd
0.03
0.00
0.00%
AU:RDY
ReadyTech Holdings Ltd.
1.27
-0.89
-41.20%
AU:OCL
Objective Corporation Limited
5.71
-13.53
-70.32%
AU:ID8
Identitii Ltd.
0.98
-1.02
-51.00%
Xref Ltd Corporate Events
Xref Reschedules 2026 AGM and Brings Forward Director Nomination Deadline
Oct 2, 2026
Xref Limited has revised the timing of its 2026 Annual General Meeting, moving the shareholder event to 10:30 a.m. AEDT on Friday, 27 November 2026. The AGM remains a key forum for investor engagement, where shareholders can vote on governance mat...
Xref sets 2026 AGM date and director nomination deadline
Sep 25, 2026
Xref Limited has scheduled its 2026 Annual General Meeting for 3:00 p.m. AEDT on Monday, 23 November 2026, and set 5 October 2026 as the closing date for shareholders to nominate candidates for election to the board. The company will release a for...
Xref appoints seasoned finance executive as new CFO to support SaaS growth
Sep 21, 2026
Xref Limited has appointed Katherine Landon as its new Chief Financial Officer, succeeding Avi Lewis, who will depart in mid-October 2026 after serving since April 2023. Landon, who has worked with Xref as an external consultant since June 2026, b...
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 ...
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.