Yojee’s MOSAIC launch reaches the revenue test

MOSAIC moves from launch to monetisation

Yojee Limited (ASX:YOJ) has reached the point where its new freight-forwarding platform must begin proving itself in revenue, not just demonstrations. MOSAIC was commercially launched on 8 July 2026, and by 20 August the company had signed 12 customer agreements, including four Everest founding partners, three Ignition partners, three standard customers and two early adopters.

Four customers were already live and processing shipments in production by late July. But Yojee is explicit that live usage and billable usage are different milestones: customers pay per job, with billing beginning only after an agreed billing date and the required functionality is ready. The company expects first MOSAIC revenue in the December quarter of FY2027, warning that it will start small as onboarding and transaction volumes build.

Fresh capital supports the commercial rollout

Yojee raised approximately $10.45 million before costs after the reporting date through an oversubscribed $7 million placement and a $3.45 million share purchase plan, both priced at $0.23 a share. The company had initially sought up to $9 million, but accepted additional demand from the share purchase plan.

The funds are earmarked for MOSAIC development and onboarding, customer-support resources, business development, team expansion and further growth of the established Transport Carrier Management System, or TCMS. Yojee finished FY2026 with $3.44 million in cash, no debt and a $3.17 million operating cash outflow. Directors said the post-year-end raising and cash-flow forecasts supported preparation of the accounts on a going-concern basis.

Losses widened while customer revenue declined

The financial backdrop remains demanding. Revenue from customer contracts fell 8.6% to $527,525, reflecting the full-year effect of exiting non-core and non-commercial contracts in the prior year. Revenue and other income nevertheless rose 35% to $913,339, helped by a $216,089 research and development tax incentive and $154,403 of interest income.

Yojee reported an $8.22 million statutory net loss, up from $6.02 million in FY2025. About $5.35 million of the loss was described as non-cash, comprising $3.996 million in share-based payment expense and $1.352 million in transaction costs linked to the Smart Yojee joint venture. The company invested $2.90 million in MOSAIC development, leaving the platform with a $3.90 million carrying value as an intangible asset at year end.

TCMS remains the financial bridge

While MOSAIC moves towards billing, TCMS remains Yojee’s established revenue-generating product. The company said enterprise customers are expanding deployments across sites and regions, with transaction volumes running ahead of expectations. It also plans to use MOSAIC’s early customer deployments to refine onboarding, improve product readiness and gradually expand its Ignition and Standard customer base.

Yojee is also developing AI-assisted document processing as an early use case within MOSAIC. The strategy is to reduce repetitive administration for freight operators while leaving compliance risk and customer relationships with human operators, according to the company. Its 51%-owned Smart Yojee joint venture provides customs technology exclusively licensed for MOSAIC in Australia and New Zealand; the venture remained pre-revenue during FY2026.

Conversion of signed contracts is the immediate test

The annual report leaves a clear operational scorecard for FY27: customers live, billing commencement, billable transactions, customer revenue and onboarding time. The 12 signed agreements provide an early commercial base, but they do not yet establish the recurring revenue stream needed to offset operating costs and continued product investment.

The next material evidence should arrive in quarterly updates, particularly once MOSAIC billing begins in the December quarter. The question is whether signed demand converts into repeat transaction volumes quickly enough to make the new capital a bridge to operating growth rather than another funding interval.