Hiremii Limited ended FY26 with its strongest quarter yet, reporting positive adjusted EBITDA, record gross profit, and a strategic rebrand to AQYR focused on AI-powered workforce intelligence.
- Q4 adjusted EBITDA jumps 175% to $0.197m
- Record quarterly gross profit of $1.149m with 14.3% margin
- FY26 revenue grows 8.6% to $32m with positive EBITDA
- Launch of hybrid Workforce Intelligence RPO in renewables
- Proposed rebrand to AQYR to reflect AI-driven strategy
Strong Financial Turnaround in Final Quarter
Hiremii Limited (ASX:HMI) closed out FY26 with a leap in profitability, reporting a positive adjusted EBITDA of $0.197 million for Q4, a 175% improvement over the prior year quarter's loss. This marks the company’s second consecutive quarter of positive operating cash flow, signalling a stabilising financial footing after years of investment in technology and acquisitions.
Gross profit hit a record $1.149 million for the quarter, up 73% year-on-year and 22% quarter-on-quarter, lifting the gross margin to 14.3%. This improvement was driven by a strategic pivot towards higher-margin Workforce Recruitment Services and the contribution from Hiremii Global Services, acquired in August 2025.
Annual Growth Amid Strategic Evolution
For the full FY26 year, Hiremii reported revenue of $32 million, an 8.6% increase from FY25, alongside a 32% jump in gross profit to $3.7 million. The adjusted EBITDA swung positive to $0.03 million from a $0.733 million loss the previous year, reflecting the company’s efforts to improve earnings quality and cost discipline.
Managing Director Andrew Hornby highlighted the year as the most successful of his tenure, noting the company’s progress in commercialising its AI-driven Workforce Intelligence Platform and expanding recurring SaaS revenue. The rollout of additional platform capabilities more than doubled the value of its largest technology customer, underscoring growing market acceptance of Hiremii’s technology.
Hybrid Workforce Intelligence RPO Breaks New Ground
A key milestone was the signing of Hiremii’s first hybrid Workforce Intelligence Recruitment Process Outsourcing (RPO) contract in the renewable energy sector. This model integrates AI-powered workforce intelligence with specialist recruitment services, creating a differentiated, higher-margin offering that enhances traditional recruitment rather than replaces it.
This hybrid RPO approach reflects a broader industry trend towards data-driven, intelligent workforce solutions and positions Hiremii to capitalise on growing demand in energy and infrastructure sectors.
Rebrand to AQYR Signals Strategic Shift
Reflecting its transformation from a recruitment services company to a technology-led Workforce Intelligence business, Hiremii plans to rebrand as AQYR Limited, subject to shareholder approval. The new name aims to better capture the company’s focus on combining AI, proprietary data, and industry expertise to help clients make smarter workforce decisions and secure critical talent faster.
The company also continues to invest in its AI platform, enhancing talent pool functionality, improving candidate identification quality, and expanding integrations with enterprise systems such as Workable and JobAdder.
Cash Flow and Financial Position
Cash flow from operations remained positive at $0.109 million for the quarter, supported by $8.5 million in customer receipts. Investment in platform development totalled $0.07 million, reflecting ongoing commitment to technology innovation.
Hiremii ended the quarter with $1.3 million in cash and access to $1.2 million in unused financing facilities. The company’s focus on improving gross profit margins and maintaining disciplined cost control has contributed to a stronger financial foundation as it enters FY27.
Bottom Line?
Hiremii’s FY26 finish and strategic rebrand to AQYR mark a clear pivot toward scalable, AI-driven workforce intelligence, but delivering sustained SaaS revenue growth will be critical to validate this new chapter.
Questions in the middle?
- How quickly can AQYR scale recurring SaaS revenue to offset traditional recruitment volatility?
- Will the hybrid Workforce Intelligence RPO model gain traction beyond the renewable sector?
- What acquisition opportunities might AQYR pursue to accelerate its technology and market expansion?