Stakk reports record SaaS revenue growth and global client expansion

ASX-listed Stakk Limited have announced record growth across its SaaS-based Embedded Finance platform, Stakk IQ, underscoring the company’s transformation from a legacy consumer-focused business into a high-margin, globally relevant provider of “critical but boring” financial infrastructure, trusted by leading fintech’s and enterprise platforms worldwide.

These results represent one of the most rapid revenue escalations achieved by any ASX-listed SaaS company this year and position Stakk as a top-performing growth stock within its sector.

Business Transformation and Inflection Point

Since completing the exit of its consumer activities earlier this year, Stakk has fully transitioned to a modular, API-first SaaS model. This strategic pivot has yielded a step-change in performance – transforming recurring revenue, eliminating historical losses, and driving consistent shareholder value creation. The company’s gross margin running at approximately 78%, supported by a capital-efficient cost structure and multi-year client contracts that provide predictable, defensible revenue streams.

Addressing a Critical Market Need

Modern fintech’s and enterprise platforms pour resources into building “sexy” new customer-facing experiences, while the complex, compliance-heavy infrastructure underpinning them – document capture, risk evaluation, authentication, transaction orchestration, settlement, and audit – remains under-served. Stakk builds what others won’t: the essential, regulator-ready infrastructure that allows innovation to scale immediately and safely.

Delivered through Stakk’s sub-brand “Stakk IQ”, the Company’s modular platform currently provides plug-and-play access to six integrated capabilities:

• Capture IQ – mobile image capture, OCR, tamper & liveness detection
• Risk IQ – dynamic credit & fraud scoring using structured & unstructured data
• Auth IQ – real-time authentication & decisioning using device, biometric & behavioral signals
• Flow IQ – transaction routing & orchestration across payment rails
• Settle IQ – post-transaction reconciliation & audit logging
• Score IQ – API access to underwriting, behavioural scoring & pricing logic

Together they deliver the “financial plumbing” that keeps embedded-finance ecosystems compliant, secure, and scalable.

Global Market Validation

Stakk’s client portfolio now includes a growing list of globally recognised fintech and enterprise brands – including Robinhood, T-Mobile, Current, and other leading institutions – each relying on Stakk IQ to replace legacy systems with a unified, embedded-finance infrastructure layer.

These partnerships demonstrate clear product-market fit and reinforce Stakk’s reputation as the “boring but brilliant” engine behind modern fintech innovation.

Market Opportunity

According to Grand View Research (2025), the U.S. Embedded Finance market currently totals approximately US$25.9 billion, growing at a 32% CAGR and projected to exceed US$100 billion by 2030. The Australian market represents around 7% of that size (≈ US$7 billion) and is expected to follow a similar growth curve. Stakk is strategically positioned to capture share across both markets, with its current focus on Australia and the United States.

Pipeline and Execution

The Company continues to build a robust pipeline of tier-one and mid-market clients across banking, fintech, and enterprise platforms. A disciplined governance-first approach, combined with an execution-driven leadership team, is delivering consistent contract wins and sustainable margin expansion.

Nikhil Ghanekar, Chairman of Stakk Limited, said, “Our transition to a pure-play SaaS business has delivered results that speak for themselves. Stakk is exceeding every growth benchmark set at the start of the year, attracting globally recognised brands, and executing with precision. We’re delivering the critical – but admittedly boring – infrastructure that underpins the modern financial economy, and in doing so, we’re creating lasting value for our shareholders.

“With our ARR run-rate on track to exceed A$8 million by year-end, a scalable technology platform, and an expanding international pipeline, Stakk is positioned to enter 2026 as one of Australia’s most compelling high-growth SaaS stories. And throughout 2026, we anticipate continued revenue acceleration through the expansion of existing client relationships and the deployment of new modules within the Stakk IQ suite.”