Braiin Limited (BRAI) Q4 2026 earnings summary

Executive summary

• FY26 includes acquired businesses only from Feb. 12, 2026; results cover about four and a half months and are not comparable with FY25 or FY24. FY27 is the first full year of their contribution.

• Revenue reached $25.85M, while the reported net loss was $24.66M; Adjusted EBITDA was a loss of $2.25M.

• The acquisitions expanded operations into network infrastructure and managed services, unmanned systems consulting and training, and telecommunications connections across multiple markets.

Financial highlights

• FY26 revenue was $25.85M versus nil in FY25 and FY24; acquired operations contributed revenue from Feb. 12 through June 30.

• Operating loss was $22.72M and net loss was $24.66M, including $14.31M of non-recurring adviser share-based payments and $3.64M of listing and acquisition costs.

• Adjusted EBITDA loss was $2.25M, excluding specified items including adviser share-based payments, fair-value losses, FX losses and listing and transaction costs; those exclusions are real costs.

• Unaudited pro forma FY26 results, assuming acquisitions from July 1, 2025, were revenue of $78.29M and net loss of $24.05M; pro forma Adjusted EBITDA was $0.21M.

Outlook and guidance

• Binding long-term contracts represent $35.93M over five years; performance was expected to begin in calendar Q1 2027, with no contract revenue recognized in FY26.

• Non-binding MOUs represent a further $111.98M of potential contract value; they are not enforceable and may not convert into contracts or revenue.

• FY27 is the first full year of acquired-business contributions; key trends include order-book conversion, refinancing borrowings, technology demand and FX movements.

• Directors judged working capital sufficient for the twelve months following the report date, factoring in committed financing, the Advaitha extension and forecast operating cash flows.