Felix Group (FLX) AGM 2025 summary

Opening remarks and agenda

• Meeting opened by the Chairman, with all directors, CEO, CFO, and auditor present; conducted both in-person and virtually.

• Shareholders could ask questions and vote in real time, with all resolutions decided by poll.

• Valid proxies received from 20 shareholders representing 41.76% of shares; Chairman held open proxies to vote in favor of resolutions.

• Agenda included CEO transition, financial report, and voting on resolutions.

Financial performance review

• Group revenue grew 21% to AUD 8.6 million, driven by record sales in the enterprise procurement platform.

• 13 new enterprise customers added, total now 75; 23 expansion deals signed, a 35% increase over prior year.

• Achieved positive operating cash flow for the full year, net inflow of AUD 418,000, with stable cost base.

• High net revenue retention over 100% due to contract value expansion and strong recurring revenue.

Board and executive committee updates

• CEO Mike Davis stepped down after 13 years; James Frayne appointed interim CEO during search for a new leader.

• Board expressed gratitude to outgoing CEO and outlined a smooth leadership transition.