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YOJEE LIMITED Interim / Quarterly Report 2026
66110_rns_2026-04-29_20335bb9-5c08-44d5-938a-71cf9291a6ac.pdf
Interim / Quarterly Report
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ASX: YOJ
YOJEE Simplifying the Complex
30 April 2026
Yojee March Q3 FY26 Activity Report
HIGHLIGHTS
- First Commercial MOSAIC Customer – Platform Live in Market: A Brisbane-based Australian freight forwarder has been onboarded as Yojee’s first commercial MOSAIC customer, actively processing live sea import shipments.
- MOSAIC Beta Program Successfully Completed: The MOSAIC Customer Beta Program was concluded on 23 February 2026, achieving technical validation of export airfreight workflows — including bi-directional regulatory messaging with Australian Customs and Air Waybill processing — without material defect. (Refer to ASX Announcement dated 23 February 2026.)
- AI-Powered Platform Innovation: Yojee is developing 'Tess', an AI-native job creation assistant being embedded into MOSAIC, which will enable operators to describe shipments in natural language and have structured logistics data extracted automatically. This represents the Company's first step toward an AI-as-a-teammate model for freight forwarding.
- China Market Entry – HAVI Agreement Executed: A usage-based services agreement was signed with HAVI Freight Management — a division of the global HAVI Group, which supports the supply chain needs of McDonald's restaurants worldwide — for TCMS deployment across Singapore, China, and Hong Kong, marking Yojee's strategic entry into the mainland Chinese logistics market. (Refer to ASX Announcement dated 19 February 2026.)
- Commercialisation Leadership Team Fully Operational: Yojee’s expanded leadership team is now fully in place, with Chief Technology Officer Julien Evano joining Chief Product Officer Shane D’Aprile, Chief Growth Officer Robert Cotter and Non-Executive Director Frank Guerra to lead the MOSAIC commercial rollout through CY26.
- Stable Financial Position: Closing cash position of $4.58 million as at 31 March 2026 with no debt, providing funding runway to support the MOSAIC commercialisation phase.
- R&D Tax Incentive Application Lodged: Application lodged to participate in the Australian Government’s R&D Tax Incentive program with respect to rebates for MOSAIC development expenditure. This reflects the genuinely novel and innovative nature of the MOSAIC platform. A successful claim is expected to provide a meaningful refundable cash offset further supporting the Company’s overall capital efficiency strategy.
- New Sydney CBD Headquarters: Yojee has established new headquarters in the Sydney CBD, providing a premium working environment designed to attract and retain world-class talent to support the MOSAIC commercial rollout.
OPERATIONAL & COMMERCIAL UPDATE
MOSAIC Platform — First Commercial Customer
The March quarter marks a decisive milestone in Yojee’s commercial journey: the onboarding of an Australian freight forwarder as the first commercial customer on the MOSAIC platform.
The customer is a Brisbane-based, full-service freight forwarder and supply chain solutions provider operating across air, land, and sea freight. Their engagement with Yojee is a genuine commercial deployment — not a beta engagement — with active processing of live sea import shipments through the MOSAIC platform.
This milestone is significant. Firstly, it confirms that MOSAIC is operating as a commercial product in a live, real-world environment with a commercial customer. Secondly, sea import workflows represent a materially different operational environment to the export airfreight workflows validated during the Beta program, requiring distinct customs interfacing, cargo tracking, and documentation processes. The successful processing of live sea import shipments through MOSAIC demonstrates the platform’s breadth across freight modes and validates its design beyond the initial Beta scope.
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Under Yojee's commercial model, revenue recognition from MOSAIC customers commences following the completion of the customer's implementation period. The Company anticipates recognising initial customer revenue in Q2 FY27. Revenue at this early stage of commercialisation is not expected to be material to the Company's financial results; the significance of this milestone is the confirmation of MOSAIC as a live, operational commercial product processing real-world shipments.
Yojee's commercial pipeline continues to develop, with an encouraging number of freight forwarders at various stages of evaluation. The Company is focused on building its commercial customer base through the second half of FY26 and into FY27.
MOSAIC Beta Program — Technical Validation
Yojee successfully concluded the MOSAIC Customer Beta Program during the quarter, as announced on 23 February 2026. The program involved Australian freight forwarders and customs brokers processing real-world export airfreight workflows, achieving the following key milestones:
- Bi-directional messaging with the Australian Customs Integrated Cargo System (ICS), including Export Declarations and regulatory responses
- Full validation of Air Waybill (AWB) messaging and airline response cycles
- Live job processing satisfying all core requirements without material defect
Targeted user experience refinements identified during the Beta program are being incorporated into the platform ahead of broader commercial rollout. Several Beta participants have expressed interest in progressing to commercial engagement, with discussions ongoing.
Artificial Intelligence — Platform Innovation and Engineering Velocity
The March quarter saw Yojee advance its AI strategy across two fronts.
AI as a product feature. Yojee is developing 'Tess', an AI-native capability being integrated into MOSAIC. Tess will allow freight operators to describe a shipment in free-form natural language — including industry shorthand, multi-leg routing, and multilingual inputs — and automatically extract the structured data required to create a job. This removes one of the most time-consuming friction points in daily freight forwarding operations. Tess is the first step in a broader AI-as-a-teammate product vision: generative AI integrated not as a standalone tool, but as an operational collaborator embedded directly in the workflow — a concept the Company believes has no equivalent in incumbent freight forwarding platforms.
AI in engineering. Yojee is embedding AI tooling across its engineering team's development workflow. This is materially elevating the output and velocity of each engineer, enabling the Company to accelerate MOSAIC feature development without a corresponding increase in headcount. The result is an expanding product capability delivered within a disciplined cost structure — building more, faster, with a lean and focused team.
TCMS Platform — Growth and Expansion
The Transport Carrier Management System continues to demonstrate strong momentum through a dual-track strategy of expanding existing enterprise accounts and securing new market entrants.
The HAVI Freight Management agreement represents Yojee's entry into the mainland Chinese logistics market (refer to ASX Announcement dated 19 February 2026). HAVI manages the global supply chain for McDonald's restaurants, and the TCMS deployment across Singapore, China, and Hong Kong positions Yojee to support one of the world's most operationally demanding supply chains at scale.
The Röhlig Logistics contract extension across Australia, New Zealand, and Southeast Asia became fully operational during the quarter. Implementation continues to progress for Fracht Australia and Road Feeder Services (RFS), with transaction volumes expected to ramp as additional sites go live through CY26. APP Purinusa Ekapersada's Indonesian deployments continue to advance, supporting expanded transaction volumes across the customer's operations.
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LEADERSHIP FOR COMMERCIALISATION
Yojee's commercialisation leadership team is now fully assembled. Key appointments active during the quarter include:
- Chief Technology Officer — Julien Evano (appointed 16 February 2026): 20 years of experience scaling engineering teams and resilient software platforms. Julien is responsible for Yojee's long-term technology vision and platform architecture including the implementation of AI strategies.
- Chief Product Officer — Shane D'Aprile: Shane has transitioned from Chief Revenue Officer to CPO, leading the integrated product roadmap for both TCMS and MOSAIC. His deep freight forwarding industry expertise will directly inform platform development priorities.
- Chief Growth Officer — Robert Cotter (commenced 2 February 2026): 35 years of senior leadership at Mainfreight and Agility, responsible for the global commercial expansion of MOSAIC.
- Non-Executive Director — Frank Guerra (effective 1 January 2026): Over 45 years of international logistics experience, formerly the Australasian CEO of Agility Logistics.
OFFICE & INFRASTRUCTURE
Sydney CBD Yojee has established new headquarters in the Sydney CBD, creating a modern, collaborative workspace designed to attract and retain world-class talent as the Company scales its MOSAIC commercial operations. The Sydney office serves as the primary hub for Yojee's Australian commercial, product, and engineering functions.
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Singapore Yojee's new Singapore office provides the Company with a premium regional base in one of the world's leading logistics and trade hubs. The office supports Yojee's growing Southeast Asian customer base and positions the team to accelerate TCMS growth and MOSAIC expansion across the region.
FINANCIAL COMMENTARY
The Company closed the quarter with $4.58 million in cash and no debt. Net operating cash outflows were $810k for the quarter, an increase from $607k in Q2 FY26. This reflects the full-quarter cost contribution of new executive appointments made in late Q2 and early Q3, and elevated compliance costs. Neither factor is expected to recur at the same level in Q4 FY26, and the Company does not consider Q3 operating outflows to represent its ongoing run rate.
Cash receipts from customers were $110k for the quarter, a 22.7% increase on the prior period's $90k, reflecting continued TCMS recurring billing and initial site-based implementation fees from recent enterprise contract wins.
The Company invested $708k in the capitalisation of MOSAIC development costs during the quarter, bringing the total year-to-date investment in the platform's intellectual property to $1.80 million. This investment directly funds the platform now entering commercial deployment. The Company intends to apply for the Australian Government's R&D Tax Incentive program with respect to rebates to offset MOSAIC development expenditure for FY25 and FY26 to further support growth and the Company's overall capital efficiency strategy.
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As noted in Section 6.1 of the Appendix 4C, payments to related parties totalled $100k for the quarter, comprising director fees and executive salaries.
CEO OUTLOOK
Mark Connell, CEO: "The onboarding of our first commercial MOSAIC customer is a milestone we have been building towards. This isn't a trial or a beta engagement — it's a real Australian freight forwarder processing live sea import shipments through our platform in a commercial environment. The fact that they're operating across sea imports — a mode not tested in the Beta program — is a strong signal of the platform's design and robustness.
This quarter moves the MOSAIC story from validation to execution. We have a platform that works, our first commercial customer transacting, a pipeline of forwarders at various stages of onboarding, and a leadership team assembled specifically to scale this globally. Revenue recognition from MOSAIC commercial customers is anticipated to commence in Q2 FY27 as implementation periods are completed. We are exactly where we planned to be, and the work ahead is clear."
This announcement is authorised for release by the Board of Directors.
-ENDS-
For enquiries, please contact
Investor Relations
[email protected]
About Yojee Limited (ASX: YOJ)
Yojee is a leading logistics technology company focused on simplifying freight operations through digital innovation. Our platform enables Logistics Providers to consolidate complex supply chain networks into a single, intuitive system. By centralising operations, optimising workflows, and providing real-time visibility, Yojee empowers businesses to move Air, Ocean, and Road freight efficiently and seamlessly. With our intelligent technology, logistics professionals can enhance performance, reduce inefficiencies, and drive growth in a rapidly evolving industry.
The MOSAIC platform is a simple yet powerful global solution for freight forwarders, bringing teams and partners together on a single platform. Designed to overcome the fragmented nature of supply chain data exchanges between participants and eliminate 'trapped into use' feelings of enterprise class systems and costly integrations. MOSAIC enhances visibility, optimises freight operations, and ensures every stakeholder works cohesively in real-time.
FORWARD LOOKING STATEMENT AND DISCLAIMER
Please note that images used in the Company's ASX announcements are to illustrate concepts only and are not intended to represent commercial Yojee images. Certain statements contained in this ASX release, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. Such forward looking statements:
(a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;
(b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward looking statements; and
(c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. The Company disclaims any intent or obligation to publicly update any
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forward looking statements, whether as a result of new information, future events or results or otherwise. The words "believe", "expect", "contracted", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "planned" and similar expressions identify forward looking statements. All forward looking statements contained in this ASX release are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.
Appendix – Industry Acronyms
The following industry acronyms are used in this announcement:
- ANZ: Australia and New Zealand
- BCO: beneficial cargo owners
- CRN: cargo reference number
- EDN: export declaration
- ERP: enterprise resource planning system
- ISO: International Organization for Standardization
- FCL: full container load
- FMS: freight management system
- LCL: less than container load
- LTL: Less than truck load
- SAAS: software-as-a-service
- SAP: system applications and products in data processing (ERP software)
- SEA: South-East Asia
- TCMS: transport carrier management system
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Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
YOJEE LIMITED
ABN
52 143 416 531
Quarter ended ("current quarter")
31 March 2026
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | 110 | 432 |
| 1.2 | Payments for | - | - |
| (a) research and development | |||
| (b) product manufacturing and operating costs | (303) | (882) | |
| (c) advertising and marketing | (48) | (241) | |
| (d) leased assets | (45) | (102) | |
| (e) staff costs | (283) | (712) | |
| (f) administration and corporate costs | (262) | (817) | |
| 1.3 | Dividends received (see note 3) | ||
| 1.4 | Interest received | 33 | 122 |
| 1.5 | Interest and other costs of finance paid | (0) | (0) |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Government grants and tax incentives | - | 1 |
| 1.8 | Other (mainly payments for indirect taxes) | (12) | (12) |
| 1.9 | Net cash from / (used in) operating activities | (810) | (2,210) |
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 2. | Cash flows from investing activities | ||
| 2.1 | Payments to acquire or for: | ||
| (a) entities | - | - | |
| (b) businesses | - | - | |
| (c) property, plant and equipment | (22) | (37) | |
| (d) investments | - | - | |
| (e) intellectual property | (708) | (1,797) | |
| (f) other non-current assets | - | - | |
| 2.2 | Proceeds from disposal of: | ||
| (a) entities | - | - | |
| (b) businesses | - | - | |
| (c) property, plant and equipment | - | - | |
| (d) investments | - | - | |
| (e) intellectual property | - | - | |
| (f) other non-current assets | - | - | |
| 2.3 | Cash flows from loans to other entities | - | - |
| 2.4 | Dividends received (see note 3) | - | - |
| 2.5 | Other (provide details if material) | - | - |
| 2.6 | Net cash from / (used in) investing activities | (730) | (1,834) |
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 3. | Cash flows from financing activities | ||
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | - | 5,400 |
| 3.2 | Proceeds from issue of convertible debt securities | - | - |
| 3.3 | Proceeds from exercise of options | - | - |
| 3.4 | Transaction costs related to issues of equity securities or convertible debt securities | - | (318) |
| 3.5 | Proceeds from borrowings | - | - |
| 3.6 | Repayment of borrowings | - | - |
| 3.7 | Transaction costs related to loans and borrowings | - | - |
| 3.8 | Dividends paid | - | - |
| 3.9 | Other (provide details if material) | - | - |
| 3.10 | Net cash from / (used in) financing activities | - | 5,082 |
| 4. | Net increase / (decrease) in cash and cash equivalents for the period | ||
| --- | --- | --- | --- |
| 4.1 | Cash and cash equivalents at beginning of period | 6,184 | 3,676 |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (810) | (2,210) |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | (730) | (1,834) |
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | - | 5,082 |
| 4.5 | Effect of movement in exchange rates on cash held | (65) | (136) |
| 4.6 | Cash and cash equivalents at end of period | 4,579 | 4,579 |
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
|---|---|---|---|
| 5.1 | Bank balances | 4,579 | 6,184 |
| 5.2 | Call deposits | - | |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (provide details) | - | - |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 4,579 | 6,184 |
| 6. | Payments to related parties of the entity and their associates | Current quarter $A'000 | |
| --- | --- | --- | --- |
| 6.1 | Aggregate amount of payments to related parties and their associates included in item 1 | 100 | |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | - | |
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. | |||
| 7. | Financing facilities Note: the term "facility" includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | |
| 7.1 | Loan facilities | ||
| 7.2 | Credit standby arrangements | ||
| 7.3 | Other (please specify) | ||
| 7.4 | Total financing facilities | ||
| 7.5 | Unused financing facilities available at quarter end | ||
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well | ||
| N/A |
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
| 8. | Estimated cash available for future operating activities | $A'000 |
|---|---|---|
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (810) |
| 8.2 | Cash and cash equivalents at quarter end (item 4.6) | 4,579 |
| 8.3 | Unused finance facilities available at quarter end (item 7.5) | - |
| 8.4 | Total available funding (item 8.2 + item 8.3) | 4,579 |
| 8.5 | Estimated quarters of funding available (item 8.4 divided by item 8.1) | 5.7 |
| Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A” estimated quarters of funding available must be included in item 8.5. | ||
| 8.6 | If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Not applicable | |
| 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Not applicable | ||
| 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Not applicable | ||
| Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. |
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Date: 30 April 2026
Authorised by: By the Board
(Name of body or officer authorising release – see note 4)
Notes
- This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
- If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.
- Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
- If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
- If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 4C (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.