Stonegate Updates Coverage on NZX Limited (NZX) 1H26 Ready to Announce with Confidence?

Dallas, Texas--(Newsfile Corp. - August 20, 2026) - NZX Limited (NZSE: NZX): Stonegate Capital Partners Updates Coverage on NZX Limited (NZSE: NZX). We believe NZX's 1H26 results modestly improve the setup, with Smart and Wealth Technologies providing growth while Capital Markets awaits normalization in issuance/trading. The 140 bps y/y margin decline to 35.6% appears to reflect QuayStreet transition costs and investment rather than underlying deterioration, with 2H26 improvement expected despite higher Smart marketing ahead of the Q4 KiwiSaver relaunch. Wealth Technologies provides the clearest medium-term visibility; contracted migrations support ARR toward $18.7M, though elevated CapEx and migration timing remain important through 2027. Management is tracking toward the midpoint of FY26 guidance, supporting confidence in the near-term earnings cadence.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners

(214) 987-4121

info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310669

Source: Stonegate, Inc.

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