Stakk completes US$63M ParaScript acquisition, more than tripling its revenue base
Stakk Limited (ASX: SKK) has completed its US$63.0 million (A$88.7M) cash and scrip acquisition of ParaScript, LLC and ParaScript Management, Inc., transforming the company into a scaled, profitable, AI-native Digital Trust group focused on combating fraud globally. The transaction was completed on 17 September 2026 for fixed consideration with no earn-out, and positions the combined entity to target A$55.2 million in revenue and A$18.5 million in EBITDA in FY2027, representing an approximately 34% EBITDA margin.
The combined group now serves more than 300 enterprise customers across the United States, Europe, the Middle East, and Australia, processing more than 110 billion digital interactions annually. Shareholder support for the transaction was substantial, with 98.4% of votes cast in favour of the consideration shares and 99.2% in favour of the placement securities at the General Meeting held on 17 August 2026.
Arthur Lo, Non-Executive Director, Stakk Limited
“… This transaction materially strengthens the fundamentals by which institutional investors assess technology companies. It increases revenue scale, earnings, margins, contracted revenue visibility, customer diversification and operating leverage, while creating additional growth opportunities that are not required to support our existing FY2027 objectives. …”
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What is AI-native Digital Trust — and why is fraud driving demand?
Digital Trust infrastructure refers to integrated technology platforms that enable regulated organisations to verify that a digital interaction, identity, or document can be trusted before it is allowed to proceed. As synthetic identities, deepfakes, manipulated documents, and automated behavioural attacks increase in scale and sophistication, the limitations of standalone tools become apparent.
A single identity check, or a standalone document verification product, cannot address the full spectrum of modern fraud. What regulated organisations require is a platform spanning identity verification, document authentication, fraud prevention, transaction authorisation, and real-time decisioning in a single, connected system.
ParaScript brings more than 30 years of proprietary AI-powered document intelligence to the combined group, deployed across international banks, law enforcement and government agencies, healthcare organisations, and leading enterprise technology platforms. Combined with Stakk’s existing contextual decisioning and pre-execution fraud prevention infrastructure, the platform is designed to address fraud across the complete interaction, not isolated points within it.
Building the platform — what Stakk and ParaScript bring together
Transaction structure and funding
The US$63.0 million (A$88.7M) acquisition consideration was structured across three components:
| Component | USD Amount | AUD Equivalent | Form |
|---|---|---|---|
| Cash at completion | US$25.0M | A$35.2M | Cash |
| Consideration shares | US$18.0M | A$25.3M | 1,180,637,544 fully paid ordinary Stakk shares at A$0.022 |
| Seller’s Note | US$20.0M | A$28.2M | Secured, interest-bearing note at 10.8% p.a., repayable over 4 years in 16 quarterly instalments |
The attributed price for the consideration shares was A$0.022 per share, consistent with the issue price used for the institutional placement — the same price applied in both contexts, not two separate pricing events.
The funding sources for the cash consideration were:
- Existing Stakk cash of A$17.57M (as at 30 June 2026, pre-placement)
- A$27.0M institutional placement at A$0.022 per share, lead managed by Canaccord Genuity (Australia) Pty Ltd, including one unlisted option per four placement shares, exercisable at A$0.035 for two years
In addition to the placement and the Seller’s Note, Stakk entered into a separate A$5.0 million short-term working-capital facility, maturing 5 January 2027, to supplement available liquidity post-completion. This facility is distinct from the Seller’s Note and carries its own terms, including A$500,000 fixed cash interest payable at maturity and A$500,000 in equity consideration represented by 25,000,000 Stakk shares at A$0.02 per share, subject to shareholder approval.
Revenue trajectory and FY2027 objectives
The financial growth story underpinning the transaction is significant. Stakk’s standalone revenue for FY2026 reached A$14.89 million, up from A$1.24 million the prior year — representing growth of 1,098%. ParaScript contributed A$30.35 million in FY2026 revenue (derived from management accounts, unaudited), bringing combined FY2026 pro forma revenue to approximately A$45.24 million, exceeding the A$41.3 million figure initially presented by approximately 9.5%.
Looking ahead, the combined group targets A$55.2 million in revenue and A$18.5 million in EBITDA for FY2027. These are objectives only and are not audited forecasts or a representation that those results will be achieved. The company expects to reassess these FY2027 objectives towards the end of the second quarter, once combined trading and integration data is available.
A substantial majority of FY2027 forecast revenue is already supported by contracted customer commitments, based on contracts in place at the date of the announcement, assuming those contracts are performed in accordance with their terms and that recurring contracts renew at historical rates.
Leadership aligned with execution — Giacchetti appointed CEO of Stakk IQ
On completion, Emiliano Giacchetti was appointed Chief Executive Officer of Stakk IQ and ParaScript, joining the boards of both operating subsidiaries. His proposed appointment as Group Chief Executive Officer, which would give him responsibility for the strategy, operations, and financial performance of Stakk Limited and its subsidiaries, is subject to shareholder approval at the AGM.
Key points regarding Giacchetti’s background and alignment with shareholders:
- He combines a strategic and analytical foundation developed at McKinsey with a track record of commercialising advanced technology and delivering profitable growth
- Under his leadership, ParaScript developed into a globally recognised AI and document intelligence business with an established enterprise customer base and profitable operating model
- He has been appointed to the board of both operating subsidiaries on completion
- He has become a Top 20 shareholder in Stakk, aligning his interests directly with those of shareholders
- His proposed Group CEO appointment and remuneration arrangements will be detailed in the Notice of Annual General Meeting
His immediate priorities for the combined group include:
- Delivering the combined group’s FY2027 revenue and EBITDA objectives
- Integrating Stakk’s and ParaScript’s technology and commercial capabilities
- Expanding the number of products and workflows deployed across the combined customer base
- Maintaining disciplined cost, margin, and cash-flow management
- Scaling the group’s presence across the United States and international markets
Emiliano Giacchetti, CEO, Stakk IQ and ParaScript
“… The combined group has the technology, intelligence, enterprise relationships and international reach required to address that challenge at scale. It also has a substantial contracted revenue base and a clear pathway to deliver the financial commitments made to shareholders. …”
What’s next for Stakk shareholders
Several near-term milestones and catalysts are expected in the coming months:
- FY2026 Annual Report: The ParaScript acquisition will be disclosed as a material post-balance-date event
- AGM Notice: Will include details of the proposed Group CEO appointment and remuneration arrangements, working-capital facility shareholder approvals, and other matters to be considered by shareholders
- FY2027 objectives reassessment: Expected towards the end of Q2 FY2027, once combined trading and integration information is available
- New contract wins and extensions: Several are expected in the coming weeks, reflecting a significant and growing pipeline of new client opportunities
- Seller’s Note refinancing: Stakk IQ was required to commence a refinancing process within seven days of completion and is obligated to pursue that process on a commercially reasonable basis until the Seller’s Note is repaid in full or refinancing is not available on commercially acceptable terms
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