Camplify Cuts Losses by 95% with H2 Profit and MyWay Mutual Lift

Sharp Turnaround to Profit Amid External Shocks

Camplify Holdings Limited (ASX:CHL) has dramatically narrowed its net loss for the year ended 30 June 2026, reporting a loss after tax of just $810,956, a 95% improvement from a restated $16.5 million loss the prior year. The highlight came in the second half, where the company delivered a net profit after tax of $2.1 million and an adjusted EBITDA of $3.5 million, marking a $6.3 million improvement on the first half and confirming the viability of its reset business model.

This turnaround was achieved despite a significant external demand shock in the June quarter, triggered by the escalation of the US/Iran conflict which caused a 29% plunge in forward bookings initially. Camplify’s ability to maintain profitability through this period, with forward bookings recovering to $16.75 million and cash closing at $10 million, underscores the resilience of its newly structured operations.

MyWay Mutual and Cost Cuts Drive Margin Transformation

The launch of the MyWay Mutual insurance structure was a pivotal development in FY26. This member-backed mutual model shifted protection services in-house, delivering a transformed margin profile and contributing to a 30% reduction in cost of sales in the second half compared to the prior corresponding period. The mutual paid out $2.7 million across 2,447 member claims with a 99% approval rate and a 68% loss ratio, aligning with targets for a fully funded first year.

Alongside this, Camplify executed a comprehensive cost reduction program, slashing employee benefits expense by $3.7 million to $12.4 million and marketing spend by $3.2 million to $4.2 million, resulting in a structural lowering of the cost base by more than $10 million year on year. This leaner cost structure underpinned the company’s positive adjusted EBITDA of $0.3 million for the full year, a stark contrast to the $10.4 million EBITDA loss in FY25.

Strategic Partnership with JB Group Expands Reach

In October 2025, Camplify secured a $3.2 million capital raise alongside a strategic partnership with JB Group, a leading Australian RV manufacturer. JB Group took a 12.7% stake in Camplify, and its director Ping Xue Li joined the board. This alliance facilitates a managed-services pilot transitioning to a network rollout in FY27, integrating new vehicle supply directly into Camplify’s marketplace and membership ecosystem.

The partnership also includes bundling Club Camplify memberships with every new JB Group van, accelerating membership growth and recurring revenue streams. This commercial alignment positions Camplify to leverage JB Group’s extensive dealership network for broader market penetration.

Revenue Shift Towards Higher-Margin Memberships

Camplify’s total revenue declined 6.8% to $39.2 million, reflecting a deliberate strategic shift away from low-margin transactional volume towards higher-margin, recurring revenue. Premium membership fees surged 38% to $7.6 million, and excess reduction and insurance income now represents 40% of consolidated revenue.

Despite a 29% drop in Gross Transaction Value during the June quarter, core revenue fell only 4%, demonstrating the resilience of the company’s restructured revenue base. The company operates across Australia, New Zealand, the UK, Spain, Germany, Austria, and the Netherlands, with European markets remaining subdued but tightly managed.

Board Renewal and Financial Position

FY26 also saw significant board renewal, with the appointments of insurance veteran John Myler, sharing economy expert Michael Rosenbaum, and JB Group’s Ping Xue Li. The board changes support Camplify’s strategic focus on insurance innovation and marketplace growth.

Camplify ended the year with a strong balance sheet, holding $10 million in cash and no debt, despite a net current liability position of $6.4 million largely due to unearned upfront customer payments. The company has flagged modest growth across all key revenue streams for FY27 and aims to leverage its reset cost base and insurance model for sustained profitability.