Platformo Ltd reported a modest 5% revenue increase in 2025 driven by its Malaysian subsidiary Biztrak, but faced a higher net loss due to regulatory delays and increased corporate advisory costs.
- 5% revenue growth to AU$783,163 driven by Biztrak's Malaysian operations
- Net loss after tax increased slightly to AU$413,362
- E-invoicing mandate rollout delays and exemptions for smaller businesses impacted demand
- Cost management and digital expansion initiatives including AI integration underway
- 2024 financial results restated due to revenue recognition timing errors
Steady Revenue Growth Despite Regulatory Headwinds
Platformo Ltd, an Australian technology company with operations centred in Malaysia, has reported a 5% increase in revenue for the year ended 31 December 2025, reaching AU$783,163. This growth was primarily driven by its subsidiary Biztrak Business Solutions Sdn Bhd, which operates in the Asian software development and distribution market. Despite this positive top-line movement, the company recorded a net loss after tax of AU$413,362, slightly higher than the previous year's loss of AU$398,084.
Impact of Malaysian E-Invoicing Mandate Delays
Biztrak’s core activities in 2025 focused on supporting the rollout of Malaysia’s e-invoicing mandate, which initially targeted larger companies with annual revenues exceeding RM100 million. However, the Inland Revenue Board of Malaysia (LHDN) adjusted the compliance timeline during the year, granting smaller businesses additional time and exempting very small businesses (annual revenue below RM1 million) from the mandate for the foreseeable future. This regulatory shift led to deferred demand from smaller Biztrak clients, causing a temporary slowdown in service uptake.
Cost Controls and Strategic Initiatives
In response to fluctuating demand, Platformo implemented stringent cost controls, reducing administrative, corporate, manufacturing, and operating expenses. Biztrak managed to generate a small profit of AU$14,932 from its Malaysian operations, reflecting effective cost management. The company also pursued digital expansion through initiatives such as joining Madani Digital Trade, an AI-driven platform by Malaysia’s national trade agency MATRADE, aimed at helping SMEs access global markets. Additionally, Biztrak launched a beginner-friendly Cloud Accounting course in partnership with UCSI College, enhancing its educational footprint.
Corporate Exploration and Financial Restatements
At the corporate level, Platformo’s board devoted significant resources to exploring potential transactions to build scale and diversify the business, incurring increased professional and advisory costs. These efforts contributed to the higher net loss despite revenue growth. The company also restated its 2024 financial results due to prior revenue recognition errors related to timing of software delivery, underscoring a commitment to accurate reporting. The audited 2025 financial statements are expected by 31 March 2026.
Looking Ahead
Platformo plans to leverage artificial intelligence tools to enhance its accounting and asset management solutions, aiming to maintain competitiveness amid evolving market demands. While the company did not declare dividends for 2025, its strategic initiatives and cost discipline position it to navigate ongoing regulatory and market challenges in Malaysia.
Bottom Line?
Platformo’s modest revenue gains are tempered by regulatory delays and rising costs, setting the stage for a critical 2026 as corporate deals and AI integration unfold.
Questions in the middle?
- How will Platformo’s potential corporate transactions impact its financial trajectory?
- What is the timeline for full adoption of the e-invoicing mandate among smaller Malaysian businesses?
- How effectively can AI integration drive new revenue streams for Biztrak’s software solutions?