Hiremii Posts Record Q3 Revenue and First Positive EBITDA, Secures Initial SaaS Customers

Record Quarter Marks Operational Turning Point

Hiremii Limited (ASX:HMI) has delivered its strongest quarterly financial performance to date, posting record revenue of A$8.2 million for Q3 FY2026, a 14.4% increase on the prior year period, alongside a gross profit of A$0.944 million, up 50%. Crucially, the company reported its first positive adjusted EBITDA of A$0.019 million, signaling a milestone in its journey from a traditional recruitment services provider to a SaaS-powered workforce intelligence business.

This improved profitability reflects a combination of higher revenue, improved gross margins rising to 11.5%, and disciplined cost management, particularly within the recently acquired Prince Migration business, now rebranded as Hiremii Global Services. The acquisition, completed in August 2025, has contributed to both top-line growth and margin expansion.

First SaaS Customers Validate Platform Commercialisation

Perhaps the most significant development this quarter was the signing of two recurring SaaS subscription agreements following successful pilot programs, as announced just days prior on 15 April 2026. This achievement represents Hiremii’s first commercial SaaS revenue, a critical step in establishing a predictable annual recurring revenue stream and validating its product-market fit.

One of these customers is a global engineering firm serving the mining and resources sector, which notably replaced an incumbent applicant tracking system (ATS) provider with Hiremii’s AI-driven platform. This win underscores the platform’s competitive edge and the company’s ability to challenge established vendors in specialist hiring markets.

These initial contracts also provide valuable reference points to support ongoing sales efforts and underpin the company’s broader Workforce Intelligence strategy, which aims to combine proprietary data assets, recruitment expertise, and advanced AI capabilities to deliver smarter hiring decisions in complex sectors such as energy, resources, and infrastructure.

Strategic Integrations and AI Enhancements Expand Market Reach

Hiremii has bolstered its commercial prospects by completing integrations with leading ATS platforms Job Adder and Workable, complementing its existing upstream integration with Idibu for global advert distribution. These downstream connections enable seamless embedding of Hiremii’s platform into existing HR workflows, enhancing usability and accelerating adoption.

Additionally, the rollout of AI-powered talent pool functionality allows customers to more effectively search large candidate databases, reducing recruitment costs and potentially displacing legacy ATS subscriptions. This innovation addresses a common pain point in enterprise hiring and strengthens Hiremii’s value proposition.

The company’s technology roadmap for 2026 includes further initiatives such as a jobs market intelligence project with the University of Western Australia, development of a talent market intelligence dashboard, SaaS enablement features, and Microsoft Outlook integration to streamline recruiter workflows.

Financial Position Strengthened by Capital Raise and Cash Flow Improvement

Cash flow metrics improved markedly this quarter, with net cash from operating activities turning positive at A$0.143 million, compared with a cash outflow of A$0.648 million in the prior comparative period. Cash on hand nearly doubled to A$1.333 million, supported by an unused working capital facility of A$1.4 million.

Earlier in the year, Hiremii completed a placement raising A$1.764 million (before costs) through the issue of 42 million shares and accompanying options. This capital injection is earmarked for accelerating commercialisation, advancing AI-driven platform enhancements, and pursuing strategic acquisitions to complement the company’s technology and core business.

The improved financial footing and operational momentum position Hiremii to advance its Workforce Intelligence strategy with confidence, aiming to capture a larger share of the global workforce solutions market through a hybrid model that combines services revenue, higher-margin technology solutions, and recurring SaaS growth.

These developments build on the company’s recent progress, including its first SaaS customers and prior capital raises, which have laid the groundwork for this pivotal transition.