JUSTCO DELIVERS 24% REVENUE GROWTH AND 147% CASH EBITDA GROWTH IN 1H2026 — CONTINUES TO GENERATE POSITIVE FREE CASH FLOW

• 1H2026 Revenue grew 24% year-on-year to US$80.8 million from US$65.1 million in the corresponding period
• Cash EBITDA¹ grew 147% to US$10.6 million, with Cash EBITDA margin² expanding to 13.1%, compared to US$4.3 million and 6.6% respectively from 1H2025
• 1H2026 NPAT³ before one-off IPO expenses was US$0.1 million
• Free Cash Flow⁴ rose 256% to US$3.2 million, from US$0.9 million in 1H2025
• Strong cash position of US$169.4 million with no bank debt
• On track to a network of 78 centres — 57 operational as at June 2026, with a further 21 in the committed pipeline
• Board plans to distribute a dividend of 50% of NPAT with effect from FY2027

SINGAPORE, 6 August 2026 – JustCo Holdings Limited (“JustCo” or the “Company”, and together with its subsidiaries, the “Group”), a leading Singapore-grown flexible workspace operator with an extensive Asia Pacific network, today announced its financial results for the six months ended 30 June 2026 (“1H2026”).

In 1H2026, the Group’s revenue grew 24% year-on-year to US$80.8 million, from US$65.1 million for the six months ended 30 June 2025 (“1H2025”), driven by higher revenue per workstation and an expanded network. Revenue per workstation per month across the Group increased 11% year-on-year to US$468.4⁵.

Cash EBITDA grew 147% from US$4.3 million in 1H2025 to US$10.6 million in 1H2026, supported by the expansion in North Asia. Cash EBITDA margin has also improved to 13.1% in 1H2026 from 6.6% in 1H2025, reflecting strong flow-through from economies of scale and growth of business in Japan. 

The Group reported a net loss of US$0.8 million in 1H2026, an improvement from a net loss of US$1.7 million in 1H2025. Excluding one-off IPO expenses, the Group’s 1H2026 NPAT would be US$0.1 million. Free Cash Flow rose to US$3.2 million from US$0.9 million in 1H2025, as Cash EBITDA more than covered capital expenditure on new centres. The Group’s cash position also increased by US$65.4 million from 31 December 2025 to US$169.4 million as at 30 June 2026, including the IPO proceeds. JustCo is well-placed to pursue future growth without the need for further fundraising.

Mr Kong Wan Sing, Executive Chairman and Chief Executive Officer of JustCo, said: “Our IPO in May 2026 represents a significant milestone for JustCo as we start our journey as a listed company and celebrate our 15th anniversary. Throughout this process, our team remained focused on executing our expansion strategies. JustCo delivered strong business and operational performance in the first half of 2026 which demonstrated the scalability and potential of our business as our Cash EBITDA margins expanded alongside our growing revenue and cash flows. We remain focused on serving our members, managing our portfolio with discipline and strengthening the fundamentals of our business.

We are encouraged by the strong backing from all our investors and will continue to take a disciplined approach to grow our platform and deliver value for all our stakeholders.”

Progress On Expansion Plans

The Group expanded its network from 50 centres and 35,067 workstations as at December 2025 to 57 centres and 37,350 workstations as at June 2026. The Group has a committed pipeline of 21 centres, which will increase its network to 78 centres. 

The Group recently announced the launch of JustCo Place at 160 Orchard Road, expanding the Group’s platform beyond flexible workspaces into coliving as an extension of an integrated service offering to our coworking customers. The new coliving project is a management contract. JustCo Place includes a JustCo coworking centre, with Deloitte Singapore as the anchor customer committing to occupy 100% of the space. 

Dividend Policy

Barring any unforeseen circumstances, the Board plans to distribute a dividend of 50% of NPAT with effect from FY2027.

About JustCo Holdings Limited (“JustCo”)

JustCo is a platform building the future of work across Asia Pacific. Our vision is to be the global benchmark for flexible workspace by creating connected ecosystems where people, businesses and communities can thrive.

Through our portfolio of brands, including The Collective, JustCo and the boring office, we support organisations of all sizes, from startups and SMEs to multinational corporations, with flexible workspace solutions across multiple cities and markets.

Beyond workspace, JustCo helps businesses scale faster through flexibility, operational simplicity and access to a regional network. For landlords, we transform buildings into vibrant business destinations that attract demand, enhance asset performance and create long-term value.

Together with our members, partners and landlords, we are building an ecosystem that connects work, business, learning, wellness and community, enabling people and organisations to grow and succeed.

For more information, visit: justcoglobal.com 

This media release is issued on behalf of JustCo by CDR.

For media queries, please contact: 

CDR
E-Mail: JustCo@cdrconsultancy.com
Tel: +65 6534 5122 (Office Hours)

Important Notice: This news release contains forward-looking statements, including statements regarding expected opening dates and anticipated business performance. These statements are based on current expectations and assumptions and are subject to risks and uncertainties, including market demand for coworking and coliving space, and general economic conditions across the Group’s operating markets. Actual results may differ materially. The Company undertakes no obligation to update these statements except as required under the SGX-ST Listing Manual.