Aquirian (AQN) H1 2026 earnings summary

Executive summary

• Revenue for the half year ended 31 December 2025 rose 27.4% year-over-year to $16.94 million, driven by strong product and technology sales and increased manufacturing at Western Energetics.

• Net profit after tax was $829,138, a turnaround from a $401,197 loss in the prior year, reflecting improved operational performance.

• EBITDA increased 103.9% to $2.54 million compared to the same period last year.

• Strategic review completed for the Wubin Energetics Precinct, with civil works and upgrades supporting increased production and capacity.

• Key product milestones achieved, including trial and commercial readiness of Automated Collar Keeper System and GEN III manual system.

Financial highlights

• Revenue from contracts with customers was $16.26 million, up from $13.08 million year-over-year.

• Other income contributed $678,519, up from $216,148 in the prior year.

• Net tangible assets per share increased to 10.88 cents from 7.38 cents year-over-year.

• Cash and cash equivalents at period end were $6.77 million, slightly down from $6.85 million at 30 June 2025.

• Record production at Wubin facility in February 2026, with instantaneous rates exceeding 25 tonnes per hour.

Outlook and guidance

• The company is executing its Full Potential strategy, including new manufacturing and storage facilities and a joint venture to establish an integrated drill and blast company.

• Entering H2 FY26 with solid momentum, supported by increased commercial activity in Energetics and Technology.

• Active tender pipeline for energetics with multiple bids underway across Greenfield and Brownfield operations, focusing on securing longer-term contracts.

• Continued focus on technology innovation, including the Collar Keeper® System and expansion into new markets.