The agenda & shared workspace
Use the day to understand the evidence, capture different perspectives and make the decisions together. Every section has space to capture your own notes — hit Download at the top when you're done.
The financial result contracted sharply
Revenue, gross profit, gross margin and net profit all fell in FY26. Here's what the numbers actually say — four years of context so we can see the full picture.
Revenue vs. Gross Profit — 4 Year Trend
Gross Margin % by Year
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | $846k | $1,009k | $1,132k | $775k |
| Gross profit | $426k | $491k | $561k | $341k |
| Gross margin | 50.4% | 48.7% | 49.6% | 44.0% |
| Operating expenses | $241k | $297k | $346k | $314k |
| Net profit | $185k | $196k | $216k | $27k |
The team's view is that wedding demand has been affected by external financial pressure on couples. The financial data demonstrates the contraction — it does not independently prove its cause. The data section on leads and bookings gives more context on where demand actually moved.
Where did FY26 fall vs FY25?
Fewer bookings, but average value held steady
Volume fell 24.5% but the average value per booking barely moved. The bigger story is in the mix shift — which packages couples are choosing has changed meaningfully.
| Metric | FY24 | FY25 | FY26 | FY26 vs FY25 |
|---|---|---|---|---|
| Bookings (count) | 120 | 143 | 108 | -24.5% |
| Booking value | $860k | $850k | $644k | -24.2% |
| Average value per booking | $7,170 | $5,941 | $5,967 | +0.4% |
| Booking hours | 242.5h | 246h | 178h | -27.6% |
Bookings by package — FY24 · FY25 · FY26
Where the 108 FY26 bookings landed
| Package | Price | FY24 | FY25 | FY26 | FY26 mix |
|---|---|---|---|---|---|
| A Little More Action | $6,850 | 49 | 51 | 28 | 25.9% |
| Can I Get a Witness | $2,000 | 21 | 30 | 36 | 33.3% |
| The Shotgun | $3,200 | 31 | 47 | 31 | 28.7% |
| Viva Las Abbotsford | $24,500 | 17 | 13 | 12 | 11.1% |
| A lil reboot | $3,000 | — | 1 | 1 | 0.9% |
Leads held better than conversions
Leads fell 13.9% — but accepted jobs fell 29.1%. We're seeing more enquiries go unconverted. That gap is worth understanding.
FY25
FY26
Leads vs Accepted Jobs — 3 Year Trend
"Acceptance rate" here is the Studio Ninja reported rate — the definition of "accepted" may differ from "booked." This doesn't change the directional picture but is worth confirming before drawing hard conclusions.
Marketing spend fell in line with the business
Absolute spend fell 33.1% — but as a share of revenue it was nearly identical to FY25. The business didn't cut marketing disproportionately.
Advertising + Marketing Spend by Year ($k)
FY26 social media presence
Platform traffic (35k landing page views) cannot currently be connected to accepted jobs, packages or booked value. We know the spend; we can't yet prove the return. There's also an anomaly: October Meta figures appear duplicated from September.
Cash weakened — but the business remains solvent
Total bank fell 57.4%. The business is still healthy on the balance sheet — net assets of $117k — but the operating cash position is tighter than it was.
Total bank year on year
The bank total includes operating, tax-provisioning and vendor-provisioning accounts. The tax provisioning account fell the most — from $107k to $35k.
FY26 owner dividends
Total dividends paid to the three owners in FY26. A portion was drawn from retained earnings built up in prior years — this is normal business practice and reflected in the balance sheet.
The equity section records all dividends paid since the company began, not just this year. The $72.5k figure per owner is a cumulative running total, not an FY26 payment. FY26 dividends were $45k in total across all three owners. The business retains $361k in retained earnings — the accumulation of all profits since founding.
Items worth confirming before drawing final conclusions
The P&L reports $27.4k net profit with a separate $54.1k income tax expense. This suggests the reported result is pre-tax. Worth confirming the tax treatment with the accountant.
FY26 P&L trading income ($775k) is $130.6k above the booking report total ($644k). This likely reflects timing — couples who booked in FY25 but whose weddings (and therefore revenue recognition) fell in FY26. Worth mapping out to understand the true forward revenue position.
AR rose from $37.9k to $43.2k. This is money owed to the business — good to understand if there are any overdue invoices that should be chased.
Bring your thinking into the room
Capture ideas without forcing a conclusion before the team has discussed the evidence. The question to keep coming back to: How do we make TAE the obvious choice for couples who still want a wedding?