Wrkr Ltd Achieves Over $1 Billion in Super Contributions Amid Rapid Payday Super Rollout and Platform Expansion

Platform Growth Fueled by Payday Super Legislative Mandate

Wrkr’s Q4 FY26 results highlight the impact of Australia’s Payday Super legislation requiring employers to process super contributions on employees’ paydays instead of quarterly. Wrkr’s platform has become a critical infrastructure component for this transition, with six superannuation funds activating on the platform ahead of the 1 July 2026 legislative deadline. This early adoption validates Wrkr’s accelerated six-month implementation timeline and demonstrates the platform’s capability to manage multiple fund migrations concurrently at scale.

During Q4 FY26, approximately 34,000 new organisations registered on Wrkr’s platform, with over 50,000 invited by fund clients by June’s end. This onboarding surge underscores Wrkr’s pivotal role in helping super funds comply with new legislation while managing the complexity of employer adoption across varied payroll systems and business sizes.

Milestone: Processing Over $1 Billion in Contributions Within Two Months

From 1 May to 30 June 2026, Wrkr processed more than $1 billion in superannuation contributions, showcasing its platform’s capacity to handle substantial transaction volumes essential to the superannuation system. By late June, the platform was processing roughly $42 million in daily contributions on business days, reflecting sustained high-volume activity as organisations transitioned ahead of Payday Super’s start. Additionally, about 30,000 new member tax file numbers (TFNs) were added daily post-launch.

Wrkr clarified that these contribution and TFN figures represent cumulative and run-rate metrics rather than recognized accounting revenue. Revenue is recorded as funds activate employers and members on the platform. Consequently, revenue recognition may lag operational scaling due to factors such as fund activation timing, Australian Taxation Office implementation tolerances, and payroll ecosystem readiness.

Six Super Funds Deployed with Tailored Marketing Strategies

Wrkr’s fund clients employed distinct go-to-market approaches. AustralianSuper led with a prominent Payday Super brand campaign via billboards and digital outreach, achieving strong post-launch uptake. RestPay leveraged social media marketing to boost employer and member engagement. Four boutique funds operated by MUFG Retirement Solutions—LegalSuper, NESS Super, Prime Super, and BUSSQ Super—also went live, entering "Live Brand" status and progressing employer onboarding. SaaS and transaction billing for these boutique funds will commence as activation scales, enabling Wrkr to recognize revenue over multiple quarters through staggered employer onboarding.

AustralianSuper Migration and SCH Clearinghouse Transition

AustralianSuper’s employer migration to Wrkr’s platform is slated for completion by December 2026, allowing a six-month onboarding window post-Payday Super commencement. This staggered timeline supports gradual employer adoption and revenue recognition through SaaS charges and transaction fees.

The SCH Online clearinghouse shifted to read-only status from July 2026 for most transactions, with limited exceptions, marking a significant transition in super contribution processing. This move effectively channels contributions through Wrkr’s platform for its fund clients, reflecting the finality of Payday Super’s immediate contribution processing mandate.

Strategic Integrations with Workday, SAP, and ClickSuper Enhance Market Reach

Wrkr advanced integrations with leading enterprise payroll and HR platforms to broaden its employer base. Reseller agreements with Workday have been finalized, generating a strong Q1 FY27 pipeline. SAP integration is near completion, automating compliance for large enterprises using SAP ERP. These integrations embed Wrkr’s superannuation capabilities directly into existing workflows, minimizing manual processes and compliance risks.

Additionally, Wrkr is onboarding smaller employers and payroll bureaus via ClickSuper arrangements, expanding its ecosystem beyond initial fund implementations. This multi-platform integration positions Wrkr as a central superannuation contribution processing layer across diverse payroll systems.

PaidRight Acquisition Exceeds Expectations, Unlocking Synergies

Wrkr’s February 2026 acquisition of payroll software provider PaidRight has outperformed projections, meeting cost and revenue targets throughout FY26. PaidRight contributed $0.8 million in Q4 FY26 cash receipts from SaaS and remediation services, integrating into Wrkr’s platform economics. The acquisition supports Wrkr’s strategy to offer comprehensive employer services combining superannuation administration and payroll, leveraging PaidRight’s customer base to cross-sell superannuation solutions.

Cash Flow and Investment Strategy Ahead of Revenue Recognition

In Q4 FY26, Wrkr recorded $6.7 million in customer cash receipts, totaling $18.2 million for FY26, with net operating cash flow of $0.5 million. Strategic capital investments of $2.7 million resulted in negative free cash flow, reflecting deliberate upfront spending to build platform capacity for future revenue conversion.

Operating payments slightly declined from $6.4 million to $6.2 million quarter-on-quarter despite full-quarter costs from new hires and PaidRight acquisition. Reduced recruitment and penetration-testing fees partially offset increased personnel and acquisition expenses. Operating costs are projected to rise modestly in H1 FY27 before stabilizing as employer onboarding completes.

Diverse Revenue Streams Drive Q4 FY26 Cash Receipts

The $6.7 million in Q4 FY26 cash receipts derived from multiple sources, including implementation fees from MUFG’s boutique super funds, ongoing data migration, increased Wrkr PAY transactional activity, higher float income from rising interest rates, and growth in SMSF Hub following Australia Post’s service closure. PaidRight SaaS and remediation services contributed $0.8 million, while $0.7 million came from annual platform licenses prepaid by ART and MUFG.

This diversified revenue model encompasses transaction fees, SaaS licensing, implementation charges, float income, and ancillary services, providing multiple cash flow drivers beyond transaction volume alone. Continued development of the Beam Platform for Precision Administration Services, including Payday Super readiness, also contributed to revenue, indicating potential white-label and custom development opportunities.

FY27 Financial Outlook Highlights Timing Effects on Revenue Recognition

Wrkr’s FY27 outlook emphasizes timing factors affecting recognized revenue despite strong operational performance. SaaS and transaction billing for MUFG’s boutique funds will scale as employer and member activation progresses, influenced by fund activation schedules, ATO implementation tolerance, and payroll ecosystem readiness. This suggests revenue recognition depends on external regulatory and operational factors rather than platform demand.

Operating costs are expected to increase modestly in H1 FY27 with transaction volume growth, then stabilize in H2 FY27 as onboarding completes. Additional funds and payroll platform integrations could increase expenses, offering upside to the baseline forecast. Wrkr aims to transition from investment to profitability in FY27 or FY28, contingent on the pace of billing activation relative to operating cost growth.