Captii (AWV) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 20.7% YoY to S$7.900m; gross profit increased 50.9% to S$4.880m, while the period still recorded a net loss of S$0.187m.

• Q2 returned to net profit of S$0.145m and EBITDA of S$0.418m, versus net loss of S$2.422m and LBITDA of S$2.134m in Q2 2024.

• Revenue growth and improved margins were led by GlobeOSS system sales; recurring managed-service revenue formed a smaller share of sales.

Financial highlights

• Q2 revenue rose 22% YoY to S$4.314m; gross profit increased 54.4% to S$2.872m.

• H1 revenue was S$7.900m, up 20.7% YoY; gross profit was S$4.880m, up 50.9%.

• H1 net loss narrowed to S$0.187m from S$2.864m; Q2 net profit was S$0.145m versus a S$2.422m loss in Q2 2024.

• H1 other losses fell to S$0.273m from S$1.928m, mainly reflecting the absence of the prior-year venture investment fair value loss.

Outlook and guidance

• Unifiedcomms and GlobeOSS outlook remains challenging amid underperforming managed-service contracts, pricing pressure and delays securing new opportunities.

• Priorities include progressing contracts in hand, product innovation, market diversification and operational efficiency; cautious optimism for the remainder of FY2025 is supported by fiscal discipline.

• Venture investment markets remain unfavorable, although conditions are expected to improve for start-ups in certain industries.