Top Page
WAY 2 VAT LTD
(Sydney:W2V)
WAY 2 VAT LTD (W2V) vs. iShares MSCI Australia ETF (EWA)
WAY 2 VAT LTD Business Overview & Revenue Model
WAY 2 VAT LTD Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.43M | 3.01M | 2.05M | 1.30M | 1.32M |
| Gross Profit | 3.25M | 2.47M | 1.62M | 1.00M | 1.05M |
| EBITDA | ― | -2.99M | -3.74M | -4.34M | -4.54M |
| Net Income | ― | -3.62M | -4.25M | -4.56M | -6.38M |
Balance Sheet | |||||
| Total Assets | 8.18M | 4.48M | 4.15M | 4.51M | 5.18M |
| Cash, Cash Equivalents and Short-Term Investments | 512.49K | 76.00K | 493.00K | 1.03M | 3.13M |
| Total Debt | 3.10M | 2.22M | 1.90M | 848.00K | 1.09M |
| Total Liabilities | 7.17M | 5.80M | 5.15M | 4.31M | 2.36M |
| Stockholders Equity | 1.01M | -1.32M | -1.00M | 207.00K | 2.82M |
Cash Flow | |||||
| Free Cash Flow | -3.97M | -3.62M | -3.81M | -4.62M | -4.11M |
| Operating Cash Flow | -3.96M | -3.60M | -3.80M | -4.61M | -4.08M |
| Investing Cash Flow | -1.27M | -16.00K | -5.00K | -9.00K | -29.00K |
| Financing Cash Flow | 5.58M | 3.10M | 3.13M | 1.51M | 5.30M |
WAY 2 VAT 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% | |
45 Neutral | AU$22.24M | -1.68 | -2883.97% | ― | 53.50% | 55.30% | |
42 Neutral | AU$10.04M | ― | ― | ― | -64.36% | 57.89% | |
42 Neutral | AU$4.32M | -1.57 | -23.31% | ― | 2.15% | -900.00% | |
37 Underperform | AU$16.25M | ― | -97.38% | ― | 106.21% | -60.61% |
WAY 2 VAT LTD Corporate Events
Way2VAT Limited has announced the immediate resignation of Ju-Yup Lee from his role as joint company secretary, marking a change in its corporate governance structure. Emily Austin will continue as the sole company secretary and will remain responsible for all communications between the company and the Australian Securities Exchange, reinforcing continuity in regulatory and market liaison.
The board expressed its appreciation for Lee’s service, signalling a routine transition rather than a strategic shift in operations. The move consolidates the company secretarial function under a single executive, which may streamline compliance processes as Way2VAT continues to support hundreds of enterprise customers with its automated VAT reclaim platform.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way2VAT Limited has notified the market that 16,313,045 quoted options, exercisable at $0.33 under the ASX code W2VO, are scheduled to expire at 5:00pm AEDT on 28 February 2026, with official quotation having already ceased on 24 February 2026. Option holders have been reminded they may exercise their options at $0.33 per share, sell them before quotation ceased, or allow them to lapse, a choice that is framed against the company’s recent share price range of $0.099 to $0.15, implying the options are currently out of the money and may have limited incentive for exercise.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way2VAT reported unaudited FY25 revenue of $6.6 million, a 46% increase on the prior year, while narrowing its EBITDA loss to $4.3 million and reducing its operating loss to $4.8 million. The company expanded its enterprise client base by 27% to 501, including major global names such as JLL, Savills, Trafigura, Rakuten and leading pharmaceutical groups, while also cutting underlying costs by 5% on a like-for-like basis.
During the year Way2VAT completed the acquisition of UK-based RBC VAT Limited, adding around 80 enterprise clients and bolstering its third growth pillar focused on VAT compliance and consultancy services. The group also raised $4.1 million in equity, ended 2025 with $768,000 in cash and $6.9 million in receivables from VAT reclaim fees, and expects a full-year contribution from RBC in 2026 alongside further organic growth under its four-pillar strategy.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way2VAT Ltd reported a 46% increase in revenue to $6.6 million for 2025, driven by a 27% rise in enterprise clients to 501, including major global corporates such as JLL, Savills, Trafigura and Rakuten. Despite the top-line growth and a 5% like-for-like cost reduction in the core business, the company posted a larger net loss of $6.8 million and confirmed that no dividend will be paid.
The company completed the acquisition of UK-based VAT advisory firm RBC in September, bolstering its European footprint and complementing its automated platform with deeper advisory capabilities. Way2VAT also executed several capital raisings during the year, securing a total of around $8.7 million via placements and convertible notes to fund the RBC purchase and working capital, underlining an investment phase aimed at scaling its SaaS-led, multi-pillar growth strategy.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way2VAT Ltd has issued 551,471 fully paid ordinary shares without a prospectus under the exemption provisions of the Australian Corporations Act. The company affirmed it is compliant with its financial reporting and continuous disclosure obligations and that there is no undisclosed price‑sensitive information, signalling that the small capital move is being made within a transparent regulatory framework for existing and prospective investors.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 VAT Ltd., listed on the ASX under ticker W2V, has lodged an application for quotation of additional ordinary fully paid shares. The company has not provided further details in this filing about its business activities or strategic market focus.
The company will issue 551,471 new ordinary fully paid shares on 10 February 2026 under an investor relations adviser agreement. These securities will be quoted on the ASX, indicating equity-based compensation for advisory services and a modest increase in the company’s free float for existing and prospective shareholders.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
WAY 2 VAT Ltd., listed on the ASX under code W2V, has notified the market of a new issue of 5,283,245 unquoted options with various expiry dates and exercise prices. The issuance of these options, effective 29 January 2026, expands the company’s pool of unquoted equity securities and may have implications for future dilution and capital structure, though no further operational or strategic context was provided in the announcement.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 Vat Ltd has notified the market that it will issue 2,139,323 unquoted performance options, designated under the ASX code W2VAB, effective 29 January 2026. The new options issuance, disclosed via an Appendix 3G filing, signals a further use of equity-based incentives or financing structures that may impact the company’s capital structure and align management or stakeholder interests with longer-term performance, though specific terms and recipients of the options were not disclosed.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way2VAT reported record quarterly revenue of A$2.13 million for the three months to 31 December 2025, contributing to full-year FY25 revenue of A$6.51 million, a 41% increase on the prior year. Quarterly cash receipts more than doubled sequentially to A$1.96 million, accounts receivable rose to about A$6.4 million, and the acquired RBC VAT business delivered its first profitable quarter, underpinning the group’s growth trajectory. The company continued to deepen its enterprise client base, adding 12 new blue-chip customers including Rakuten, Aptar Group, Apellis and Ferroglobe, lifting total enterprise clients to 501. Way2VAT also secured a commercial partnership with Coupa Software to list its APAI invoice validation tool on the Coupa App Marketplace under a revenue share arrangement, positioning the firm to tap Coupa’s large global client base and strengthen its role in automated VAT and accounts payable workflows, although the revenue impact of this integration is yet to be quantified.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 VAT Ltd has disclosed a change in the equity interests of director Amos Simantov, detailing his direct and indirect holdings in fully paid ordinary shares and a range of options with varying strike prices and expiry dates. The filing reports that on 9 January 2026 Simantov was granted 13,049,970 performance options, significantly increasing his potential equity exposure and further aligning his incentives with shareholder value creation, a move that may be viewed as strengthening long‑term executive commitment to the company’s performance.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 VAT Ltd has disclosed a change in the indirect holdings of director Adoram Ga’ash, whose interests are held via investment vehicles AMGH Synergia 2014 Ltd and Moneta Seeds LP. The disclosure details a post-consolidation structure of ordinary shares and a broad suite of options with varying strike prices and expiries, and notes the acquisition of 2,595,293 additional securities, signalling a substantial increase in the director’s indirect exposure to the company’s equity. The move may be interpreted by investors as a vote of confidence in the company’s future prospects and aligns the director’s incentives more closely with shareholder outcomes through a mix of long-dated, performance-linked instruments.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 VAT Ltd has disclosed a change in director Robert Edgley’s interests, with his holdings now comprising both fully paid ordinary shares and newly issued performance options. The company reported that Edgley has been granted 1,579,475 performance options, exercisable at AUD$0.07 each and expiring on 9 January 2036, following shareholder approval at an extraordinary general meeting in December 2025, a move that further aligns his incentives with long-term shareholder value but also modestly increases potential future equity dilution.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
Way 2 Vat Ltd has notified the ASX of the issue of 17,224,738 new unquoted performance options, each exercisable at A$0.07 and expiring on 9 January 2036. The options, to be issued on 9 January 2026, expand the company’s pool of unquoted equity incentives, potentially affecting future capital structure and aligning stakeholders’ interests with long‑term company performance.
The most recent analyst rating on (AU:W2V) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on WAY 2 VAT LTD stock, see the AU:W2V Stock Forecast page.
WAY 2 VAT LTD announced the issuance of 75,000,000 unquoted securities, set to expire on December 15, 2028, as part of a previously disclosed transaction. This move is likely to impact the company’s financial structure and could influence its market positioning by potentially increasing its capital resources.
Way2VAT Limited has issued 88,125,000 fully paid ordinary shares without disclosure to investors, in compliance with relevant provisions of the Corporations Act. This move is part of the company’s ongoing efforts to enhance its financial standing and operational capabilities, potentially strengthening its position in the fintech industry and impacting its stakeholders positively.
WAY 2 VAT LTD announced the quotation of 88,125,000 ordinary fully paid securities on the ASX, effective December 15, 2025. This move is part of previously announced transactions and could potentially enhance the company’s market presence and liquidity, benefiting stakeholders by increasing the company’s capital and investment opportunities.
Way 2 VAT Ltd has amended and restated its Articles of Association, which outlines the company’s purpose, share capital, and shareholder liability. This update emphasizes the company’s commitment to lawful activities and its capacity to support charitable causes, potentially enhancing its corporate social responsibility profile and stakeholder engagement.
Way2VAT Limited announced that all resolutions proposed at its Extraordinary General Meeting were passed by the requisite majority. This development is significant for the company’s operational strategies, as the resolutions include ratification and approval of share placements and amendments to the company’s articles of association, potentially impacting its financial structure and stakeholder relations.
WAY 2 VAT LTD has announced a strategic growth initiative centered around four key pillars: human capital, technology, existing global clients, and expansion into real-time e-invoicing. This strategy aims to enhance their AI unified SaaS platform, improve real-time invoice validation, and strengthen VAT compliance services. The company’s focus on mergers and acquisitions, alongside organic growth, is expected to bolster its market position and offer improved services to stakeholders.