Xref Ltd (AU:XF1)
ASX:XF1
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Xref Ltd
(Sydney:XF1)
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Rating:41Neutral
Price Target:
AU$0.07
▼(-55.00% Downside)
Action:Reiterated
Date:06/12/26
The score is held down primarily by weak financial health—ongoing losses and a high-risk balance sheet with negative equity—despite improving cash flow. Technicals are also bearish, with the stock trading below key moving averages and negative MACD. Valuation offers limited support because the negative P/E reflects unprofitable operations and there is no dividend yield data.
Positive Factors
Recurring SaaS model
Xref's platform is a cloud SaaS for reference checking and workforce screening, giving recurring transaction/subscription revenue and scalability. This business model supports durable revenue visibility, customer stickiness via workflows/integrations, and operating leverage as scale grows.
Negative Factors
Negative equity & high leverage
Negative shareholders' equity and elevated leverage create structural solvency and refinancing risk. This weakens the company's ability to raise capital on favorable terms, increases creditor scrutiny, and limits strategic flexibility, making long-term investment and growth more constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS model
Xref's platform is a cloud SaaS for reference checking and workforce screening, giving recurring transaction/subscription revenue and scalability. This business model supports durable revenue visibility, customer stickiness via workflows/integrations, and operating leverage as scale grows.
Read all positive factors
Xref Ltd (XF1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$16.51M
Dividend YieldN/A
Average Volume (3M)80.69K
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue Growth-0.91%
EPS Growth1.85%
CountryAU
Employees99
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)N/A
Shares Outstanding220,089,770
10 Day Avg. Volume60,218
30 Day Avg. Volume80,687
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)-6.93
Price to Sales (P/S)1.43
P/FCF Ratio22.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Xref Ltd Business Overview & Revenue Model
Company Description
Headquartered in Sydney, Australia, Xref Limited is an HR technology company specializing in the automation of candidate reference checks for employers. Its services are available in Australia, Canada, the United Kingdom, New Zealand, and the Unit...
How the Company Makes Money
Xref primarily makes money by selling access to its cloud software platform as a paid service for organisations conducting hiring and workforce screening. Revenue is generated when customers use Xref’s platform to run screening workflows—such as r...
Xref Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
30
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.61M | 21.31M | 19.86M | 20.40M | 18.59M | 14.45M |
| Gross Profit | 11.42M | 19.03M | 17.33M | 17.15M | 14.92M | 3.02M |
| EBITDA | 1.76M | -1.87M | -1.76M | -1.36M | 1.57M | -272.89K |
| Net Income | -2.18M | -1.95M | -5.68M | -3.36M | 729.58K | 78.08K |
Balance Sheet | ||||||
| Total Assets | 15.41M | 19.16M | 20.36M | 22.90M | 20.17M | 15.00M |
| Cash, Cash Equivalents and Short-Term Investments | 2.76M | 5.29M | 4.59M | 6.84M | 11.67M | 8.13M |
| Total Debt | 6.90M | 7.83M | 8.35M | 5.33M | 4.96M | 4.69M |
| Total Liabilities | 20.19M | 23.55M | 26.21M | 23.10M | 18.70M | 16.01M |
| Stockholders Equity | -5.07M | -4.39M | -5.85M | -202.52K | 1.47M | -1.01M |
Cash Flow | ||||||
| Free Cash Flow | 241.30K | 1.35M | -3.80M | -2.17M | -833.27K | 1.19M |
| Operating Cash Flow | 231.57K | 1.36M | -678.80K | 454.40K | 627.48K | 2.32M |
| Investing Cash Flow | -1.84M | -1.91M | -3.12M | -4.34M | -1.46M | -1.13M |
| Financing Cash Flow | 1.71M | 1.24M | 1.56M | -952.81K | 380.71K | 4.07M |
Xref Ltd Technical Analysis
Negative
0.16
Price Trends
0.08
Negative
0.09
Negative
0.12
Negative
Market Momentum
>-0.01
Negative
37.78
Neutral
>-0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:XF1, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.08, and above the 200-day MA of 0.12, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 37.78 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:XF1.
Xref Ltd Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
48 Neutral | AU$24.70M | -5.36 | -27.05% | ― | 4.41% | 19.30% | |
44 Neutral | AU$5.15M | -19.17 | 64.42% | ― | -7.83% | 79.31% | |
44 Neutral | AU$24.40M | -0.93 | -203.17% | ― | -0.21% | 67.01% | |
41 Neutral | AU$16.51M | -7.14 | 46.05% | ― | -0.91% | 1.85% | |
40 Underperform | AU$6.85M | -0.61 | 783.67% | ― | -13.82% | -132.50% | |
40 Underperform | AU$16.42M | -2.27 | -151.85% | ― | 24.56% | -6.14% |
* Technology Sector Average
AU:XF1
Xref Ltd
0.08
-0.09
-53.13%
AU:8CO
8Common Ltd
0.02
<0.01
27.78%
AU:PRO
Prophecy International Holdings Ltd
0.09
-0.35
-80.46%
AU:AMX
Aerometrex Ltd.
0.26
0.05
23.81%
AU:FLX
Felix Group Holdings Ltd.
0.06
-0.13
-70.27%
AU:DUB
Dubber Corporation Limited
0.01
>-0.01
-44.44%
Xref Ltd Corporate Events
Xref director Thomas Stianos steps down but retains equity stake
May 8, 2026
Xref Limited has disclosed that director Thomas Stianos ceased to be a board member on 30 April 2026, in line with ASX listing rule requirements. The company reported that Stianos retains interests in 200,000 fully paid ordinary shares and 1.2 mil...
Xref launches Xref.me, a verified portable digital résumé platform
Apr 13, 2026
Xref has launched Xref.me, a first-of-its-kind B2C2B platform that creates a verified, portable digital résumé for candidates and a new trust layer for employers. The service lets individuals collect and reuse verified references as a li...
Xref boosts recurring revenue and cuts costs as new HR platform gains traction
Apr 12, 2026
Xref reported continued momentum in the March quarter of FY26, with sales up 4% year-on-year to $4.5 million and EBITDA of $0.3 million as it shifts clients onto its new platform. Annual recurring revenue for the new platform surged 54% to $10.6 m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.