A$0.69 ($0.48)

-0.01 (-2.11%)

Weekly Expected Move ±6.0%

A$1 A$1 A$1 A$1 A$1

ASX · Industrials · Industrial - Infrastructure Operations · Tech Score Sell · Power 43 · A$294.8M mcap · 276M float · 0.240% daily turnover

Analysis Technicals Weather Peers

Revenue

$126M +63.0% ▲

5Y CAGR: +40.9%

Gross Profit

$77M +50.4% ▲

5Y CAGR: +50.4%

Operating Income

$43M -8.9% ▼

Net Income

$7M +28.3% ▲

5Y CAGR: +5.6%

EPS (Diluted)

$0.02 +16.0% ▲

5Y CAGR: +2.4%

EBITDA

$56M +284.9% ▲

5Y CAGR: +38.0%

View Full Income Statement

Line Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$38M	$45M	$54M	$77M	$126M
YoY Growth	+68.0%	+18.4%	+20.5%	+42.0%	+63.0%
Cost of Revenue	$16M	$18M	$25M	$26M	$49M
Gross Profit	$22M	$28M	$29M	$52M	$77M
Gross Margin	58.6%	61.0%	53.5%	66.6%	61.5%
R&D Expenses	$700K	$600K	$700K	$600K	$0
SG&A Expenses	$14M	$16M	$22M	$4M	$35M
Operating Expenses	$14M	$17M	$22M	$5M	$35M
Operating Income	$4M	$6M	$7M	$47M	$43M
Operating Margin	11.4%	13.9%	12.5%	60.5%	33.8%
Interest Expense	$813K	$643K	$611K	$1M	$2M
Income Before Tax	$2M	$6M	$6M	$6M	$12M
Tax Expense	$1M	-$189K	$2M	$1M	$5M
Net Income	$960K	$6M	$4M	$5M	$7M
Net Margin	2.5%	14.1%	6.8%	7.0%	5.5%
EPS (Diluted)	$0.00	$0.02	$0.01	$0.01	$0.02
EBITDA	$7M	$12M	$13M	$14M	$56M
Shares Outstanding	357M	351M	351M	377M	417M

Line Item	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2	FY2026 Q4
Revenue	$22M	$23M	$27M	$28M	$32M	$45M	$63M	$63M
Cost of Revenue	$11M	$12M	$12M	$13M	$11M	$15M	$24M	$25M
Gross Profit	$11M	$11M	$15M	$14M	$21M	$30M	$39M	$39M
Gross Margin	51.5%	49.7%	55.5%	51.6%	65.7%	67.2%	62.2%	60.8%
R&D Expenses	$300K	$300K	$400K	$300K	$195K	$405K	$300K	$0
SG&A Expenses	$9M	$7M	$10M	$11M	$899K	$3M	$30M	$17M
Operating Expenses	$9M	$8M	$11M	$12M	$1M	$4M	$30M	$17M
Operating Income	$2M	$4M	$4M	$3M	$20M	$27M	$9M	$22M
Operating Margin	11.2%	16.5%	15.8%	9.3%	62.3%	59.2%	14.5%	33.9%
Interest Expense	$389K	$359K	$357K	$415K	$253K	$803K	$904K	$793K
Income Before Tax	$2M	$4M	$3M	$2M	$5M	$2M	$7M	$5M
Tax Expense	$543K	-$732K	$987K	$886K	$730K	$278K	$3M	$2M
Net Income	$2M	$4M	$2M	$1M	$4M	$2M	$4M	$3M
Net Margin	8.7%	19.5%	8.6%	5.0%	12.2%	3.3%	6.8%	4.2%
EPS (Diluted)	$0.01	$0.01	$0.01	$0.00	$0.01	$0.00	$0.01	$0.01
EBITDA	$5M	$7M	$7M	$6M	$7M	$8M	$16M	$28M
Shares Outstanding	354M	349M	349M	357M	352M	401M	419M	418M

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