Datalex (DLE) H1 2025 earnings summary

Executive summary

• Achieved 9% year-on-year revenue growth to $14.5m in H1 2025, with platform revenue up 33% to $9.6m, driven by SaaS adoption and customer activations on the Stellex platform.

• Gross profit increased 68% year-on-year to $6.4m, with gross margin rising to 44% from 29% due to higher-margin recurring revenue.

• FX-adjusted EBITDA turned positive at $0.1m, a significant improvement from a $2.8m loss in H1 2024; adjusted EBITDA loss narrowed by 67% to $0.6m.

• Loss after tax reduced by 62% year-on-year to $2.3m, reflecting improved profitability and lower interest and share-based payment expenses.

Financial highlights

• Platform revenue: $9.6m (+33% YoY); Stellex sub-segment up 188% to $4.0m, non-Stellex down 5%.

• Services revenue: $4.4m (-19% YoY); consultancy revenue: $0.5m (-10% YoY).

• Cost of sales decreased 14% YoY, supporting margin expansion.

• Operating expenses rose 22% to $7.0m, entirely due to FX losses; excluding FX, operating expenses declined.

• Cash and cash equivalents at 30 June 2025: $3.4m, stable YoY.

Outlook and guidance

• Full-year trading remains on track with expectations; confident in meeting 2025 financial targets and returning to full-year EBITDA profitability.

• Focus remains on platform revenue growth, margin expansion, and investment in product innovation.