2026 Annual Report

30/09/2026 15:50 NZDT, ANNREPP

Revenue $26.3M (Up 6%)

Operating loss $1,023K (2025 Loss $85K)

Loss for the period $1,871K (2025 Loss $129K)

Net cash at bank $503K (2025 $937K)

Shareholders Funds $1,895K (2025 $3,055K)

Performance Overview

FY2026 was a challenging year for the Group. Revenue grew 6% to $26.3 million, but this was not enough to offset cost pressures and a $0.86 million impairment of intangible assets, resulting in a net loss of $1.87 million, compared with a loss of $0.1 million in FY2025. The Board regards this result as unacceptable and has taken decisive action to reset the business for a return to sustainable profitability.

Kilimanjaro

Within Kilimanjaro, our largest business, FY2026 was one of the toughest years in its history, with growth not progressing at the pace anticipated and broader market conditions continuing to affect business confidence, revenue and margins. As a result, we have commenced a review of costs and organisational structure with the changes designed to bring Kilimanjaro's cost base in line with current trading conditions and support a return to profitable growth in FY2027.

iSell

iSell's total revenue increased 3% with recurring revenue increasing 12%. Development continues on ITQuoter Version 2, due for release in the first quarter of 2027. The new version delivers a completely redesigned, highly visual interface, significantly expanded enterprise-grade functionality and practical AI assistance across key areas of the platform, creating a faster, smarter and more capable ITQuoter.

Datagate

Our associate investment in Datagate was a highlight for the Group, as the business continued to strengthen its position in cloud-based telecom billing, supported by approximately 550 customers and a strong presence in the United States. Its channel partner strategy is being successfully rolled out, while the emerging need for usage-based AI billing represents a promising new revenue stream and growth opportunity. Enprise's share of associate profit was $9,000 compared to a loss of $75,000 in FY2025 as its pathway to profitability continues.

Vadacom

The Group continues to retain its small holding in Vadacom. Vadacom had another stable and profitable year. The Group received dividends of $33,028 during the year.

Financial Position

Together with refinancing the business, and the actions now underway across the Group we are confident of positioning Enprise Group for a return to sustainable and profitable growth in FY2027 and beyond. I want to thank our shareholders for their continued support and our staff for their resilience through a period of significant change.

Operational focus and outlook

The Group continues to see and is encouraged by strong growth in its recurring revenue across key businesses, which underpins its long term strength. Our focus remains on supporting our businesses to continue this growth while placing increased emphasis on operational improvements to increase margins and profitability. Our recent operational changes underline this approach and with disciplined execution and continued innovation, we believe Enprise is well positioned to deliver sustainable growth and long-term shareholder value.

For and behalf of the board,

Nick Paul

Independent Non-Executive Chairperson

0274980051