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Electro Optic Systems (EOS) investor relations material
Electro Optic Systems H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 2025 was AUD 128.5 million, down 27% from 2024 due to divestments and lower Defence activity.
Gross margin improved to 63%, reflecting contract mix, operational improvements, and contract finalisation.
Underlying EBITDA was a loss of AUD 24.4 million, mainly due to lower revenue and higher operating expenses.
Order intake surged to AUD 420 million (18 contracts), boosting the unconditional order book to AUD 459 million, up 238%.
Strategic focus on counter-drone and space control/warfare, with significant investments in sales, technology, and geographic expansion, including the acquisition of MARSS.
Financial highlights
Revenue: AUD 128.5 million, down year-over-year due to divestments and delayed orders.
Gross margin: 63%, up from prior years, driven by contract mix and operational improvements.
Underlying EBITDA: -AUD 24.4 million; EBIT impacted by higher depreciation/amortization and AUD 9 million in non-recurring items.
Net profit after tax was AUD 17.5 million, including a AUD 91 million gain from the sale of EM Solutions.
Cash at year-end: AUD 107 million; all debt repaid in January 2025; $100m term loan facility undrawn and being finalised.
Outlook and guidance
Targeting realization of 40%-50% of the AUD 459 million order book as revenue in 2026 (AUD 180–230 million).
Additional revenue expected from new orders, with revenue likely weighted to the second half of 2026.
No formal revenue or CapEx guidance issued; CapEx historically under AUD 20 million, mostly customer-funded.
Continued investment in product development and geographic expansion, especially in Europe, Middle East, and the US.
Ongoing discussions for additional HELW contracts in multiple countries.
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