Zip Co Limited reported a record annual cash EBITDA of $268.9 million for the fiscal year ended June 30, 2026, a 57.9% increase from FY25 and surpassing guidance of at least $260 million.
Total transaction volume rose 27.2% to $16.7 billion, while statutory net profit after tax increased 45.7% to $116.4 million. Total income grew 24.6% to $1.35 billion, with cash gross profit up 26.2% at $642.3 million. The group processed 112.1 million transactions, a 20.5% increase, and active customers rose 3.7% to 6.5 million. Operating margins expanded to 20%, up 420 basis points from FY25, exceeding the 18%+ target.
The U.S. business, now representing 76% of total transaction volume, drove much of the growth. U.S. transaction volume surged 42.5% to $8.6 billion, with revenue up 44.3% to $613.1 million. Cash EBITDA in the U.S. grew 51.4% to $154.7 million, supported by a 24.6% expansion in the merchant network to 30,800 partners. In-store transactions rose 67% year-over-year, accounting for 27% of U.S. TTV. Operating margins in the U.S. reached 25%, up 113 basis points.
Australia-New Zealand saw transaction volume grow 6.2% to $4.0 billion, with cash EBITDA nearly doubling to $69.5 million. Operating margins in ANZ expanded to 15.9%, up 753 basis points, while cash net transaction margins rose 90 basis points to 5.2%. The group launched ZMobile in May 2026 and commenced an orderly wind-down of its New Zealand operations in July 2026.
Zip also executed $150 million in on-market share buybacks during FY26 and announced an additional buyback of up to $50 million for FY27. The company is considering a potential dual listing on a U.S. exchange, subject to board and regulatory approvals. Shares rose 13.76% to $2.94 following the announcement, bringing the stock roughly 60% above its 52-week low of $1.38 and 40% below its 52-week high of $4.93.
For FY27, Zip guided for U.S. TTV growth of at least 30% in USD terms, group operating margins of 20–22%, and cash EBITDA of $340 million, implying approximately 26% growth from FY26.
