The Corporate Travel Management Ltd (ASX: CTD) share price is firmly in the spotlight today after the company reported a resilient FY25 underlying EBITDA of $83.6 million, while also disclosing a statutory net loss after tax of $346.7 million due to significant goodwill write-downs.

What did Corporate Travel Management report?

• FY25 underlying EBITDA: $83.6 million; FY26 forecast: $113.6 million
• Total Transaction Value (TTV): $9.6 billion in FY25 (up from $9.1 billion in FY24); FY26 forecast: $9.8 billion
• Revenue: $643.4 million in FY25; FY26 forecast: $669.9 million
• Statutory net loss after tax: $346.7 million (includes $357.7 million goodwill impairment)
• Strong liquidity: $107 million cash as at 30 June 2026 and new $175 million funding package
• No dividend declared, as remediation and balance sheet strengthening takes priority

What else do investors need to know?

CTM has made significant progress on customer remediation, with around 78% of its $246 million refund program either agreed or close to being finalised. The bulk of settlement payments can be spread through to Q1 FY28, helping manage cash flow.

Governance and risk management have received a major boost, with new board-led oversight, stronger controls, and leadership appointments across legal, commercial, and transformation teams. These changes aim to create a more disciplined and transparent business.

A new strategic initiative, CTM One, focuses on leveraging technology and data—like CTM’s proprietary Lightning and Sleep Space platforms—to drive higher quality growth, better customer outcomes, and stronger operating leverage globally.

What did Corporate Travel Management management say?

Managing Director and CEO Ana Pedersen said:

Today is a significant step forward for CTM and these results demonstrate the resilience of CTM’s underlying business.

Customer remediation is now well advanced, with 78% of refunds agreed or close to finalisation. The recently announced $175 million funding facility provides the certainty and flexibility to complete the process while continuing to support the business. Across our global operations, we continued to retain customers, win new business and grow transaction volumes despite a period of significant disruption.

Our focus is on continuing to deliver for customers, improving operating leverage and building a more connected global business positioned for sustainable long-term growth.

We recognise this has been a challenging period for investors, clients, partners and our people, and we are grateful for their ongoing support and confidence in CTM.

What’s next for Corporate Travel Management?

CTM is preparing for an FY26 earnings recovery, forecasting underlying EBITDA to rise back towards FY24 levels and focusing on disciplined execution of its CTM One strategy. Transaction volumes in early FY27 are tracking in line with expectations, with strong customer retention and new project wins.

As remediation obligations are resolved, restoring the balance sheet, investing in technology, and strengthening the company’s global platform remain core priorities. Dividends may remain suspended in the short term, but more guidance is expected at the upcoming AGM.

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The post Corporate Travel Management reports FY25 and 1HY26 earnings appeared first on The Motley Fool Australia.

More reading

• Corporate Travel Management secures new funding and updates on FY25 and FY26 earnings
• Corporate Travel Management updates UK remediation progress and settlement terms
• Corporate Travel Management teams up with Amadeus for global tech upgrade
• Corporate Travel Management secures new UK Ministry of Defence contract

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Clarity Pharmaceuticals Ltd (ASX: CU6) share price is in focus today after the company reported a 68% jump in revenue to $8 million, alongside a net loss of $107.2 million for the year ended 30 June 2026.

What did Clarity Pharmaceuticals report?

• Revenue increased 68% to $8.0 million
• Net loss after tax widened to $107.2 million (up 67%)
• Research and development spend rose to $91.1 million
• Liquid assets grew to $178.3 million at year end
• No dividend declared for FY26
• Net tangible assets per share up to 49.9 cents (from 28.1 cents)

What else do investors need to know?

Clarity raised $203 million in fresh capital through a placement at the end of July 2025, strengthening its cash reserves for future clinical trials and commercialisation. The company received a $9.8 million R&D tax incentive refund, highlighting its ongoing investment in Australian radiopharmaceutical research.

The year was marked by significant clinical progress, with flagship prostate and neuroendocrine tumour imaging and therapy candidates advancing through multiple phase II and phase III trials. Manufacturing and supply agreements were expanded to support the anticipated launch of key products.

What did Clarity Pharmaceuticals management say?

Executive Chair Dr Alan Taylor said:

Our strong progress across clinical, regulatory, and manufacturing activities this year lays the foundation for our transition from developer to commercial stage. We remain focused on bringing innovative diagnostic and therapeutic radiopharmaceuticals to patients globally.

What’s next for Clarity Pharmaceuticals?

Clarity is prioritising late-stage clinical trials and regulatory submissions in the US for its core copper-based SAR technology platform. The company will also focus on building its commercial infrastructure, supported by expanded manufacturing capabilities and new executive appointments.

Looking ahead, Clarity remains well funded and plans to progress new studies targeting unmet needs in cancer care, while preparing for product launches in the US and other key markets.

Clarity Pharmaceuticals share price snapshot

Over the past 12 months, Clarity Pharmaceuticals shares have declined 33%, trailing the All Ordinaries Index (ASX: XAO), which is flat over the same period.

View Original Announcement

The post Clarity Pharmaceuticals FY26 earnings: Revenue jumps, losses widen as clinical pipeline progresses appeared first on The Motley Fool Australia.

More reading

• This ASX biotech is tipped to more than double in value
• Clarity Pharmaceuticals reports clinical trial milestones
• Clarity Pharmaceuticals reports new SECuRE trial responses at higher dose
• Clarity Pharmaceuticals reports clinical progress in June 2026 quarter

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) is losing ground on Thursday, with another wave of selling pushing the market closer to the 9,000-point mark.

At the time of writing, the benchmark is down 0.77% to 9,057 points after touching an intraday low of 9,053 points.

That puts the index at its lowest level in 4 trading days and continues the pullback from the stronger levels seen earlier this month.

There also aren’t many places for investors to hide today, with 144 shares trading lower compared with just 48 moving higher.

So, what’s behind the weakness?

Rate hike concerns are growing

The biggest issue hanging over the market is the changing outlook for interest rates.

Wednesday’s hotter-than-expected inflation figures already had investors reconsidering whether the RBA could raise rates again.

Household spending increased 1.1% in July and was 7% higher than a year earlier, showing Australian consumers are still spending despite higher borrowing costs.

The latest figures have added to concerns that another RBA rate hike could be on the way.

That’s worth watching with the share market still trading close to record highs and valuations are already looking pretty high.

Morgan Stanley has warned that Australian equities are “not priced for a hike”, noting the ASX 200 is trading on a 12-month forward P/E ratio of 18.1 times.

With another rate hike now a real possibility, investors are becoming more cautious after the market’s run towards record levels.

Most sectors are moving lower

The weakness is spread across most sectors, but several large companies are doing plenty of damage to the index.

BHP Group Ltd (ASX: BHP) shares are down 0.95% to $66.76, while fellow heavyweight Commonwealth Bank of Australia (ASX: CBA) shares are 0.15% lower at $155.22.

Wesfarmers Ltd (ASX: WES) shares have dropped 1.36% to $82.14, while Woolworths Group Ltd (ASX: WOW) shares are down 3.21% to $38.89.

Property shares are also weaker, with Goodman Group (ASX: GMG) down 1.06% to $27.92.

Nonetheless, there are still a few pockets of strength.

Qantas Airways Ltd (ASX: QAN) shares are up 4.39% to $9.63 following its FY26 result, while CSL Ltd (ASX: CSL) shares are 0.44% higher at $173.20.

Foolish takeaway

The ASX 200 is now sitting less than 60 points above the psychological 9,000-point mark, so that level will be worth watching if the selling continues.

Much will depend on whether concerns around another rate hike ease or build further in the lead-up to the RBA’s September meeting.

The post Why is the ASX 200 falling to a 4-day low today? appeared first on The Motley Fool Australia.

More reading

• Do leading brokers rate Woolworths shares as a buy following its results?
• Should I buy CSL shares before the end of August?
• Another RBA interest rate hike could be just weeks away. Here’s what the big banks think
• Where I’d invest $10,000 in ASX shares in September
• Qantas shares jump 4% today: Is this the start of a rebound?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goodman Group, and Wesfarmers. The Motley Fool Australia has recommended BHP Group, CSL, Goodman Group, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.