3P Learning (ASX: 3PL) reported a 26% increase in underlying EBITDA to $19.5 million for the fiscal year ended June 30, 2026, alongside a 54% rise in underlying net profit after tax to $13.1 million.
Total revenue reached $112.9 million, up 4% year-over-year, though B2B revenue declined 8% to $60.5 million while B2C revenue remained flat at $43.6 million. Gross profit increased 4% to $107.0 million, maintaining a 95% gross margin. The company declared its first dividend in 11 years at 3.52 cents per share, partially franked.
Underlying EBITDA margin expanded to 17% from 14%, supported by a 26% reduction in total expenses to $82.8 million. Statutory net profit totaled $9.9 million, compared with a $0.2 million profit in FY25. Operating cash flow before tax stood at $11.0 million, while net cash increased to $15.7 million with no external borrowings.
Chairman Matthew Sandblom highlighted the company’s financial turnaround, stating it was "delivering sustainable returns" through both profitability improvements and growth momentum. The board approved the dividend as part of its capital management strategy, following the completion of restructuring measures that generated $4.7 million in annualized cost savings.
B2C gross billings fell 4% to $41.2 million, with AMER gross billings up 3% to $20.2 million. Contribution margin in B2C compressed to 39% from 42%, while B2B license numbers declined 5% to 4.5 million. Regional B2B revenue totaled $33.8 million in AMER, $10.9 million in EMEA, and $15.8 million in APAC. The US retention rate improved from 76% in FY25 to 86% in FY26.
Capital expenditures reached $4.2 million, primarily on property, plant, equipment, and intangibles. The company’s stock rose 9.38% to $0.35 following the announcement, remaining 48% below its 52-week high of $0.675 and 30% above its 52-week low of $0.185.
