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IncentiaPay Ltd.
(Sydney:EAT)
IncentiaPay Ltd. (EAT) vs. iShares MSCI Australia ETF (EWA)
IncentiaPay Ltd. Business Overview & Revenue Model
IncentiaPay Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.70M | 18.71M | 16.55M | 17.13M | 19.79M | 19.25M |
| Gross Profit | -4.13M | -4.04M | -1.93M | -1.79M | -4.13M | -4.78M |
| EBITDA | -7.37M | -7.37M | -4.57M | -17.64M | -13.54M | -4.62M |
| Net Income | -9.66M | -9.66M | -7.64M | -20.39M | -15.63M | -8.40M |
Balance Sheet | ||||||
| Total Assets | 3.58M | 3.58M | 4.18M | 4.68M | 16.86M | 23.66M |
| Cash, Cash Equivalents and Short-Term Investments | 1.53M | 1.53M | 2.08M | 2.27M | 1.55M | 4.08M |
| Total Debt | 13.52M | 13.52M | 27.51M | 19.47M | 9.37M | 6.79M |
| Total Liabilities | 19.81M | 19.81M | 33.46M | 26.46M | 18.19M | 18.50M |
| Stockholders Equity | -16.23M | -16.23M | -29.28M | -21.78M | -1.33M | 5.16M |
Cash Flow | ||||||
| Free Cash Flow | -7.06M | -6.82M | -5.43M | -7.22M | -13.05M | -8.24M |
| Operating Cash Flow | -7.04M | -6.80M | -5.87M | -8.55M | -12.49M | -5.55M |
| Investing Cash Flow | -11.66K | -2.70K | 346.45K | -183.00K | -574.00K | -2.91M |
| Financing Cash Flow | 6.51M | 6.26M | 5.22M | 7.94M | 10.60M | 5.98M |
IncentiaPay Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | AU$28.55M | -5.95 | -60.86% | ― | 24.46% | 24.10% | |
42 Neutral | AU$5.19M | -3.33 | -23.31% | ― | 2.15% | -900.00% | |
37 Underperform | AU$27.48M | -2.76 | ― | ― | 12.88% | -22.58% | |
37 Underperform | AU$13.55M | -1.89 | -97.38% | ― | 106.21% | -60.61% |
IncentiaPay Ltd. Corporate Events
Suzerain Investment Holdings Ltd has initiated a compulsory acquisition process for all fully paid ordinary shares of Entertainment Rewards Limited, which it does not already own. This move follows an off-market takeover bid and is part of Suzerain’s strategy to consolidate its holdings in Entertainment Rewards Limited, potentially impacting the company’s market position and shareholder structure.
Suzerain Investment Holdings Ltd has declared its takeover bid for Entertainment Rewards Limited (EAT) as unconditional, holding a 90.88% interest in EAT shares. The offer is set to close on December 31, 2025, and Suzerain urges remaining shareholders to accept promptly. If the compulsory acquisition threshold is not met, non-accepting shareholders may face reduced liquidity and potential delisting from the ASX, affecting the trading price and ease of selling shares.
Entertainment Rewards Ltd has announced that up to 29,097,000 of its fully paid ordinary shares will be released from voluntary escrow, contingent upon Suzerain Investment Holdings Ltd declaring its takeover offer unconditional or initiating a compulsory acquisition procedure. This move is part of the ongoing takeover offer by Suzerain for all issued share capital in Entertainment Rewards Ltd, which could significantly impact the company’s operations and market positioning by potentially altering its ownership structure.
Entertainment Rewards Ltd has announced a new employee share scheme buy-back, as per the notification dated 10/12/2025. This move is a strategic effort to manage its capital structure and potentially enhance shareholder value, reflecting the company’s commitment to optimizing its financial operations.
Suzerain Investment Holdings Ltd has extended its offer period for the takeover of Entertainment Rewards Limited, a company listed on the ASX under the ticker EAT, until 31 December 2025. Suzerain currently holds an 87.14% interest in EAT shares and is urging remaining shareholders to accept the offer before the new deadline, which may impact the company’s market positioning and shareholder dynamics.
In the 2025 financial year, Entertainment Rewards Ltd achieved significant milestones, including raising over $111 million for community causes and reversing previous revenue declines with a 12.6% increase to $18.7 million. Under the leadership of new CEO Heidi Halson, the company saw growth in memberships and core revenue streams, supported by a $3 million loan facility to enhance investment and working capital. The company’s strategy focuses on building partnerships, expanding member numbers, and strengthening its network of fundraisers, merchants, and corporate clients.
Entertainment Rewards Ltd has lodged its target’s statement with the Australian Securities and Investments Commission in response to an off-market takeover bid by Suzerain Investment Holdings Ltd for all issued share capital. This move is significant for EAT’s shareholders as they will receive the target’s statement electronically or by mail, outlining the company’s position and response to the takeover offer.
Suzerain Investment Holdings Ltd has completed the dispatch of its bidder’s statement and offers for an off-market takeover bid for all shares in Entertainment Rewards Ltd that it does not already own. This move marks a significant step in Suzerain’s strategic acquisition efforts, potentially impacting the market positioning of both companies and influencing shareholder decisions.
Entertainment Rewards Ltd reported a 2.2% increase in revenue for Q1 FY26 compared to the same quarter last year, driven by growth in its Frequent Values and Personalised Card Linked Offers programs. The company secured a $3 million loan facility with Suzerain Investments, enhancing its financial stability and supporting strategic initiatives. Despite a net operating cash loss of $1.29 million, the company improved from the previous year, with strong membership growth and successful fundraising efforts raising over $320,000. The company is also pursuing B-Corp certification and aligning its climate targets with the Science Based Targets initiative, reflecting its commitment to sustainability.
Entertainment Rewards Ltd has announced its 2025 Annual General Meeting (AGM), scheduled for November 28, 2025, at 3:00 pm Sydney time. The meeting will be held virtually, allowing shareholders to participate online, ask questions, and vote. The company emphasizes the importance of shareholder participation and provides instructions for proxy voting and online engagement, highlighting its commitment to accessible and inclusive shareholder communication.
Suzerain Investments Holdings Limited has announced an off-market takeover bid for all the shares of Entertainment Rewards Ltd that it does not already own. The offer is priced at $0.022 per share and is subject to the absence of a superior proposal and an independent expert’s conclusion that the bid is fair and reasonable. This move could significantly impact Entertainment Rewards Ltd’s market positioning and shareholder value.
Entertainment Rewards Ltd has announced significant amendments to its $22.5 million convertible loan agreement with Suzerain Investment Holdings Ltd, extending the conversion period of the principal amount and allowing accrued interest to be converted into equity until December 2028. These changes are expected to provide the company with greater financial flexibility and time to reach a break-even point, reinforcing the support from its largest shareholder and aiding in the execution of its revenue pivot strategy.
Entertainment Rewards Limited has entered into an Implementation Deed with its majority shareholder, Suzerain Investments Holdings Limited, for a cash takeover offer of all EAT shares not already owned by Suzerain at $0.022 per share. This offer represents a significant premium over recent trading prices, and the Independent Board Committee recommends shareholders accept the offer, subject to an independent expert’s confirmation of its fairness and reasonableness. The acquisition aligns with EAT’s strategic objectives and is expected to support its growth plans, with Suzerain indicating continued support for the company.
Entertainment Rewards Ltd has announced key dates for its 2025 calendar year, including the closing date for director nominations on October 17 and the annual general meeting on November 28. These events are significant for stakeholders as they provide opportunities for leadership changes and strategic discussions, potentially impacting the company’s operations and market positioning.
Entertainment Rewards Ltd has released its Corporate Governance Statement for the financial year ending June 30, 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, highlighting the company’s commitment to transparency and accountability in its governance practices.
Entertainment Rewards Ltd has released its annual report for the year ending June 30, 2025, highlighting its extensive portfolio of lifestyle offers and loyalty content. The company has a significant impact on fundraising, having helped over 8,000 charities and community groups this financial year. Its unique Card Linked Offers platform and bespoke benefits product for enterprise clients enhance its market positioning by driving business growth and customer retention.