Klevo’s Stablecoin Platform Gives FY2026 Results a New Dimension

Revenue Growth Comes With a Smaller Loss

Klevo Group Limited (ASX:KLV) has delivered a markedly improved FY2026 result, with revenue rising to A$13.52 million from A$3.19 million and the loss attributable to owners shrinking to A$537,691 from A$2.40 million. Basic loss per share narrowed to 0.04 cents from 0.33 cents, although the improvement came alongside a much larger share count.

Cash receipts from customers climbed 480% to A$16.08 million, while net cash generated from operating activities swung from an outflow of A$985,094 to an inflow of A$1.60 million. Cash and cash equivalents finished the year at A$4.32 million, up from A$642,448, and net assets moved from a negative A$4.998 million to positive A$542,778.

Stablecoin Revenue Remains the Big Unanswered Number

The most striking figure in the report sits after the balance date. Klevo says its KLVR stablecoin transaction platform completed a 14-day commercial trial and generated approximately USD 1.22 million of unaudited revenue during that period. It then reports total unaudited revenue of USD 59.2 million from the commencement of the trial to the date of the report, with the net financial impact described as nominal after technology, implementation, compliance and operating costs.

That progression is potentially significant, but the report provides limited detail on the transaction volumes, counterparties, revenue composition, margins or cash conversion behind the USD 59.2 million figure. It is also not clear from the filing how the reported total relates to the earlier 14-day amount. Klevo says it is working with commercial and technology partners on operational, compliance and technical requirements before a broader rollout, so the figure should not be treated as audited FY2026 revenue.

Fly Wallet Adds Licences and Payments Infrastructure

During the year, Klevo said Fly Wallet secured SWIFT User BIC status, received legal advice that KLVR was expected to qualify as an eligible stablecoin under ASIC’s current relief framework, and signed a broker agreement with Bybit for KLVR integration. Mastercard also paid approximately A$2 million in performance incentives, made up of about A$1.7 million in cash and A$300,000 in service credits, following a further A$550,031 incentive in February.

After year-end, Klevo completed the A$150,000 acquisition of Just Ask Solar, which holds Australian Credit Licence 483627, and acquired ASFIN Funds Management for A$200,000, adding another AFSL to the group. The company says these licences are intended to support consumer credit, investment and digital financial services, but the proposed Point Capital acquisition remains subject to due diligence, definitive documentation, approvals and, where required, shareholder approval.

Funding Dependence Has Not Disappeared

The improved balance sheet does not remove Klevo’s funding risk. The group reported net current liabilities of A$748,103 at 30 June and says it remains reliant on access to a A$15 million LDA Capital equity facility, extended to February 2027, as well as the potential for further capital raisings. Any additional equity funding would dilute existing shareholders.

There are also signs that reported cash generation needs careful reading. Deferred revenue rose to A$3.94 million from A$720,064, while A$1.08 million of receivables related to a single customer whose settlement was expected in USDT after a suitable acceptance account was established. The report separately lists unresolved legal matters with no provisions recognised, alongside regulatory, reserve, redemption, cyber-security and technology risks tied to the stablecoin strategy.