Camplify Holdings Limited (ASX: CHL): Share Price & Research

CAMPLIFY Holdings (ASX:CHL): Is insurance the growth driver for this Airbnb on vehicle wheels?

24 Aug at 2:14 pm

This is an opportunity but one that sits at the high-risk end, being loss-making, a small float and the ever-present danger of travel business interruption, through bush fires or floods.

The company has a big headwind in rising fuel prices not to mention fuel security but FY26 stood out for cost control. The share price reaction has certainly been positive, with the stock climbing from 20 cents in July to over 30 cents.

The marketplace is a dominant one but it’s niche and the group has made acquisitions that it has struggled to integrate. The insurance business represents a very real opportunity.
Richard Hemming

Security data at a glance

Sector	Information Technology
Industry	Technology hardware & equipment
Activity	Caravan \| Campervan Marketplace
ASX Code	CHL
Dividend	No Dividend
Share Price	$0.33 (at 4 September 2026)
Market Cap	$28M
Net Cash	$8.6M

camplify CHL Shares 24 August 2026

Investment case

Bull Points

Proprietary MyWay insurance product lifts margin from ~5% (broker model) to ~28%

FY26 swung from -$10.4m to +$0.3m EBITDA on cost control

Insurance only 1% penetrated into a $1bn Australian RV insurance market

Germany launch extends MyWay beyond the core marketplace

Bear Points

Still loss-making at net profit level; small float and thin liquidity

Revenue and bookings sensitive to fuel prices and travel disruption events

Past acquisitions (PaulCamper, MyWay integration) have been difficult to digest

Limited disclosure relative to ASX 300 peers; management has not guided FY27 numbers

What’s New? Market Update.

The asx-listed company faces a significant headwind from rising fuel prices, not to mention fuel security.
However, FY26 stood out for strong cost control.
The share price reaction has been positive:
- The stock climbed from 20 cents in July 2026 to more than 30 cents.
- Investors are recognising that when volumes rebound, the group is poised to improve profitability.
Even in difficult conditions, earnings improved substantially:
- FY26 EBITDA was positive at $0.3m.
- This compared with an EBITDA loss of $10.4m in FY25.
- Second-half FY26 NPAT was $2.1m better than expected.

The investment case for Camplify Holdings Limited shares?

A new insurance led approach improving profitability
This progress has been overshadowed by the US Iran war effects on tourism and bookings.
The marketplace for everything Caravans has a great deal of potential if sales can grow.

Who is Camplify?

Camplify Holdings Limited (CHL) is in the business of elevating outdoor experiences through scalable tech solutions.

The CHL Group operates one of the peer-to-peer digital marketplace platforms connecting campervans and motorhomes (recreational vehicle (RV))Owners to road trip Hirers. It’s composed of:

Camplify,
MyWay and
PaulCamper

With operations in Australia, New Zealand, Spain, the United Kingdom, Germany, Austria and Netherlands, Camplify and PaulCamper deliver a seamless and transparent experience for consumers looking to travel and connect with local RV owners.

How does Camplify make money?

Was founded by the CEO Justin Hales in 2015, becoming Australia & New Zealand’s leading RV marketplace, connecting recreational vehicle owners to hirers.

The group services RV purchases, booking and payments, handover checklists, insurance, customer support and roadside assistance.
The RV rental fleet is about 15k and the global fleet is 33k, operating in Australia, NZ, UK, Spain, Germany, Austria and the Netherlands, having acquired PaulCamper in FY2024.
For its services, Camplify’s “take-rate” or commission amounts to just over 30% of the value of the services. Camplify takes a deposit at the time of the booking of an RV of 20%, which is effectively its revenue. The remaining payment is made 30 days from the start of the booking. Camplify then pays the owner 50% of their payment on day one and the remainder on the last day.

For its services, Camplify’s “take-rate” or commission amounts to just over 30% of the value of the services. Camplify takes a deposit at the time of the booking of an RV of 20%, which is effectively its revenue. The remaining payment is made 30 days from the start of the booking. Camplify then pays the owner 50% of their payment on day one and the remainder on the last day.

What gives Camplify an edge?

The big factor in the company’s favour is its proprietary RV insurance product, MyWay, which is funded via a mutual or membership program.

Previously, Camplify bought an insurance product from a broker, then onsold to the customer for a 5% margin. The group has set up its own insurance product with re-insurance in place and obtains a 28% profit margin. More to the point, the product is available to all owners, not just those in the Camplify marketplace. Camplify’s MyWay has only just been rolled out and is due to be launched in Germany.

The market

There are now over 900,000 local RV owners in Australia & NZ and the total gross written premium is $1bn.
Camplify sits at $10m or 1% of the market.
Suncorp & NRMA are Australia’s largest and have 70% between them.

Insurance is a big hurdle to RV owners listing on peer-to-peer sites like Camplify, because it often conflicts with their existing insurance. This set up puts insurance first and then Camplify provides a great opportunity to make money. Effectively, owners buy insurance protection, then get asked, by the way, would you like to put your motorhome sharing on the marketplace in one click.

Way has only just been rolled out and is due to be launched in Germany.

Detailed Growth analysis for investors

Ambitious revenue and earnings (EBITDA) forecasts and an undemanding valuation are supported by a new insurance led approach.

The valuation is undemanding:
- Revenue of approximately $42m
- Market capitalisation below $30m
This is a real operating business, but it remains very high risk.
The earnings turnaround is significant:
- Camplify lost $16m after tax in FY25.
- The company is now profitable and poised to grow its bottom line.
- It produced a first-half net profit after tax of $2.1m.

“FY2027 is focused on execution. The Company expects performance to be significantly stronger than FY2026, with management concentrating on converting existing opportunities and demonstrating the operating leverage inherent in the business model.”

Bryant Henson, Chief Executive Officer

Key risks

Liquidity & float risk: small market cap and thin daily volume can amplify price moves in either direction.

Travel disruption risk: bushfires, floods or fuel price spikes directly hit booking volumes.

Integration risk: the group has previously struggled to integrate acquisitions (PaulCamper, MyWay rollout).

Disclosure risk: reporting and guidance are less detailed than larger ASX peers, making forecasting harder.

Funding risk: while net cash is currently positive ($8.6m), continued losses could require future capital raising.

CHL Share Price Performance

Period	Starting price	Finish price
This Year (2026)	$0.34
Last Year (2025)	$0.75 to $0.34
2024	$2.25 to $0.70

This is general information only and does not take into account your objectives, financial situation or needs. It is not a recommendation to buy, sell or hold any security.

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FAQs

Questions Answered

No. Camplify does not currently pay a dividend. The company is reinvesting cash flow into scaling its MyWay insurance product and its core RV marketplace.

As at 4 September 2026, Camplify had a market capitalisation of approximately $28 million, against annual revenue of around $42 million and net cash of $8.6 million.

Camplify competes with traditional caravan and motorhome hire operators, other peer-to-peer RV marketplaces internationally, and in its insurance business established underwriters such as Suncorp and NRMA, which together hold around 70% of the Australian RV insurance market.

Camplify turned EBITDA-positive in FY26 ($0.3m, versus a $10.4m loss in FY25). It is not yet profitable at the net profit after tax level for the full year, though second-half FY26 NPAT beat expectations.

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