💰 FMH Business Operations PNL

Recurring business operating profit only. Excludes one-off corporate items (Legal & Prof, Boost financing, intercompany, FX/interest/tax/D&A). For the full Xero accounting P&L, see Xero direct.

Auto-pulled from Xero · FX (MIS budget): USD/MYR=4.2, USD/SGD=1.3 · Generated 2026-06-02 · Period Jan–May 2026 (USD '000)

Download as Excel Editable .xlsx · 3 sheets (Summary · Payroll · Other Costs + Excluded)

⬇ Download .xlsx

Summary — Jan to May 2026

Particulars (USD '000)	Jan	Feb	Mar	Apr	May
Revenue
Recurring revenue — SaaS Subscription	94.69	94.85	86.80	99.76	–
Saas - MY	55.93	48.26	55.82	54.56	–
Enterprise	16.95	16.93	16.84	16.87	–
Discount - MY	-16.60	-13.66	-16.47	-15.74	–
Saas - TH	16.50	20.49	11.98	12.92	–
Saas Distributor - HK	19.78	12.92	12.10	12.10	–
Saas - SG	5.76	14.05	9.92	7.74	–
Other Revenue	–	–	–	16.65	–
Discount - SG	-1.25	-2.68	-2.19	-1.75	–
Discount - TH	-2.63	-1.68	-1.45	-1.30	–
Saas Distributor - TW	0.89	0.88	0.91	0.90	–
Discount - Enterprise	-0.66	-0.66	-0.67	-0.66	–
Sales Return	–	–	–	-1.93	–
Discount - Other	–	–	–	-0.60	–
Non-recurring — Implementation (operating, ex-Boost)	3.69	2.02	4.36	–	0.76
(A) Total Revenue	98.38	96.86	91.16	99.76	0.76
Costs
Payroll Cost	38.15	36.81	44.54	40.34	0.04
Server Cost (Wenny + AP × 30%)	7.43	7.62	9.77	10.72	–
Other Software Cost	3.77	2.28	1.84	2.43	–
Other Operating Cost	34.96	12.25	16.81	21.94	2.07
(B) Total Cost	84.31	58.96	72.96	75.43	2.10
EBITDA (A − B)	14.07	37.90	18.20	24.33	-1.34
EBITDA Margin	14.3%	39.1%	20.0%	24.4%	n/m

Payroll Cost — sub-lines

Sub-line	Jan	Feb	Mar	Apr	May
Director / Management	8.08	8.08	15.46	10.54	–
Application Support	6.28	5.73	4.88	4.05	–
Finance	5.52	5.55	5.54	6.39	0.04
Customer Happiness	4.40	4.53	4.57	4.45	–
Engineering (India Contract)	3.80	4.07	3.79	3.74	–
Sales (MY)	2.79	2.26	2.21	3.55	–
Engineering — Maintenance (MY)	1.68	1.68	1.68	1.68	–
Engineering — R&D	1.62	–	–	–	–
HR	1.52	1.52	1.52	2.44	–
Customer Success	1.24	1.23	2.14	2.11	–
Customer Happiness — Commission	0.95	2.03	2.40	1.03	–
Customer Success — Commission	0.28	0.13	0.35	0.17	–
Other Payroll	–	–	0.02	0.19	–
Total Payroll	38.15	36.81	44.54	40.34	0.04

Other Operating Cost — sub-lines

Legal & Professional excluded → see Non-Operating section below.

Sub-line	Jan	Feb	Mar	Apr	May
Sales Commission - HK	16.78	9.47	9.47	9.47	–
Marketing & Advertising	11.13	0.69	0.58	0.63	–
Sales Commission - SG	2.79	–	–	–	–
Travel	1.25	1.15	1.37	1.42	0.09
Office Rent / Utilities	1.15	2.32	2.27	1.58	1.98
Sales Commission - MY	0.97	-2.35	1.44	1.89	–
Insurance	0.40	0.40	0.43	6.34	–
Sales Commission - TW	0.39	0.38	0.38	0.39	–
Entertainment	0.06	–	0.08	0.04	–
Bank / Moneymatch Fees	0.03	0.04	0.03	0.03	–
Office Supplies / Misc	0.00	0.15	0.77	0.16	–
Payment Processor Fees	0.00	–	–	–	–
Total Operating	34.96	12.25	16.81	21.94	2.07

Boost Project — Stripped from Operating EBITDA one-off

Date	Tenant	Invoice	Native MYR	USD '000
2026-03-27	MY	SIV-2603048	4,277,778	1,018.52
2026-04-21	MY	SIV-2604023	6,435,185	1,532.19
2026-04-21	SG	IV-2604001	1,500,000	357.14
Total stripped			12,212,963	2,907.85

Cost leg: Axiata Digital Capital LMS = MYR 11.57M ($2,753.88k Mar) — also excluded.

Excluded as Non-Operating

Bucket	Jan	Feb	Mar	Apr	May
Legal & Professional new	0.38	0.17	14.91	4.04	–
Boost — Infodrive revenue leg	–	–	-1,018.52	-1,859.23	–
Boost — Axiata LMS cost leg	–	–	2,753.88	–	–
Forex (realised + unrealised)	12.55	-2.92	-49.84	-49.91	0.65
D&A	4.34	4.31	4.33	4.37	–
Royalty (revenue, SG receives)	6.35	5.45	–	–	–
Royalty (cost, MY pays SG)	6.12	5.19	–	–	–
Software Mgmt Fee (revenue, MY)	3.58	1.86	1.86	1.86	–
Software Mgmt Fee (cost, SG)	2.03	1.95	1.92	1.94	–
Interest	0.02	0.26	0.04	0.81	–
Penalty / Late charges	–	–	0.67	0.62	–
Tax	0.51	0.44	–	0.42	–
Bad debts	–	–	–	-1.93	–