Camplify (ASX:CHL) management used its latest earnings call to frame the first half of FY26 as a period of “optimization and stabilization,” emphasizing a shift from integration work in FY25 to tighter execution, margin improvement, and cash generation.
Bottom-line improvement and stronger cash position
CEO and founder Justin Hales said the company’s focus on expense management produced a “positive AUD 5 million swing” in the bottom line versus the prior corresponding period, reducing statutory net loss after tax by 62% to AUD 2.9 million. CFO Brett Edwards put the net loss after tax at AUD 2.927 million, down from AUD 7.8 million in the prior comparative period.
Margin-led approach: lower GTV, resilient revenue
Camplify reported gross transaction value (GTV) of AUD 54.6 million, down from AUD 65.4 million in the prior corresponding period. Hales said the decline was deliberate, describing it as an “active capital allocation decision” in which the company “shed low margin, high cost booking volume” to eliminate inefficient marketing spend.
Despite lower GTV, total revenue was described as resilient at about AUD 19.1 million (Edwards cited revenue of AUD 19.056 million). The company also reported an increase in platform take rate to 26.9%, up from 24.9%, while maintaining an average booking value of AUD 1,612.
Edwards said improvements in take rates helped offset GTV fluctuations and pointed to growth in premium membership revenue, which rose to AUD 4.3 million from AUD 2.1 million, attributing the increase to reduced churn and a “more stable repeat cash flow business.”
Cost reductions and marketplace changes
Management repeatedly pointed to expense discipline as a key driver of the turnaround. Hales said the company reduced marketing expenses to AUD 2.0 million from AUD 5.4 million, taking marketing spend to 10.5% of revenue from 27% previously, while improving request-to-paid conversion metrics by 31% in core markets. The company also reduced employee benefits to AUD 6.6 million from AUD 8.3 million.
On the supply side, Hales said Camplify undertook “fleet consolidation,” removing listings that scored poorly in customer engagement metrics and owners with histories of “ghosting” hirers. While overall fleet numbers were flat compared with the prior corresponding period, he said fleet quality improved. Edwards later stated vehicles on the platform increased to 34,449, while bookings declined to 33,869, with the average booking value holding at AUD 1,612.
Insurance, Europe clean-up, and Germany growth
Camplify highlighted the performance of its ANZ MyWay Mutual, launched in May 2025, which Hales said shifted the company toward a “membership-first ecosystem.” He said the mutual operated at a 49.6% loss ratio in the first half and expanded gross profit margin on premium membership from 14.9% to 33.3%.
Edwards said the company took proactive steps to optimize its EU insurance business, including “ring-fencing” issues to create a “clean slate for H2.” He noted a AUD 928,000 prior period adjustment related to timing issues around insurance operations and referenced a AUD 0.624 million contingency for loss-sharing contracts. He also said the company booked AUD 569,000 in the half as cost of sales on a loss-sharing contract, with the remaining amount held as a contingency, reconciling to a AUD 1.3 million contingency previously disclosed in an Appendix 4C cash flow statement.
Regionally, management said Germany was a standout. Hales and Edwards both cited Germany revenue rising 30% to approximately AUD 2.7 million (Hales: AUD 2.73 million; Edwards: AUD 2.7 million). Edwards said several European markets—including the UK, Spain, the Netherlands, and Austria—were being trimmed to improve margins, with expectations for a lift in the second half.
H2 priorities: marketing step-up, AI rollout, JB partnership, and temporary accommodation
In Q&A, management said marketing spend is expected to increase modestly in the second half to around 11.5% to 12% of revenue as Camplify enters a seasonally busier period, with Hales arguing the platform is now more efficient and better positioned to generate returns on ad spend.
Operationally, Hales said Camplify’s strategy is underpinned by technology and that it made an “AI-first” decision 18 months ago. He highlighted a pilot of AI voice agents that achieved a 95% first-level resolution rate for customer tickets, with plans to roll the program out across customer-facing parts of the business.
Management also described expansion plans tied to its partnership with the JB Group. Hales said, following a pilot in Newcastle, Camplify Managed Services depots will expand to an additional 12 locations across ANZ, with a goal of having those depots “fully online” by the end of the year. He said the model targets high-margin products and could build a fully managed rental fleet, where Camplify controls pricing, quality, and booking acceptance.
On the business-to-business side, Hales discussed a temporary accommodation program linked to Homes Victoria following January 2026 bushfires, with an initial order for 50 vans and an expectation that it could scale to 200 across 14 local government areas. He estimated GTV of roughly AUD 3 million to AUD 4 million for the initial 50-vans deployment over six months, with an expected take rate of around 26%, and said scaling to 200 vans would increase the contribution proportionally. In response to an analyst question, Hales said the company expected to maintain roughly an AUD 2 million level for the existing temporary accommodation program in the second half, plus incremental GTV from the Victoria deployment.
Edwards also pointed to future bookings of AUD 34.2 million as of 31 December 2025, noting that about AUD 11 million of that was realized in January bookings. He added that there was already AUD 1.5 million in forward bookings for next summer in Australia and New Zealand.
About Camplify (ASX:CHL)
Camplify Holdings Limited engages in the operation of peer-to-peer digital marketplace platforms to connect recreational vehicle (RV) owners to hirers in Australia, New Zealand, the United Kingdom, Spain, Germany, Netherlands, and Austria. The company operates Camplify, a platform that offers RVs, including caravans, motorhomes, camper trailers, and campervans for rent; and PaulCamper, a peer-to-peer RV sharing platform. It is also involved in the provision of insurance brokerage services. The company was founded in 2015 and is based in Wickham, Australia.
