Electro Optic Systems (EOS) H1 2026 earnings summary

Executive summary

• Achieved record first-half 2026 results with revenue of $168.8m (AUD 169m), up 283% year-over-year, driven by Defence Systems growth and the MARSS acquisition.

• Underlying EBITDA improved to $21.6m, up from a $14.9m loss in the prior period.

• Order book grew 84% to $846m, with $303m in new contracts signed across 10 orders.

• MARSS acquisition expanded integrated counter-drone and AI-enabled C2 solutions, adding significant new contracts and market presence in Europe and the Middle East.

• Opened new Singapore factory for high-energy laser weapons, supporting global expansion.

Financial highlights

• Revenue reached $168.8m (AUD 169m) for H1 2026, the highest first-half revenue to date.

• Gross margin at 58% (down from 76% in 1H 2025 due to prior period one-off income).

• Underlying EBITDA of $21.6m achieved.

• Cash and cash equivalents at 30 June 2026 were $256m, with $30m undrawn debt and $30m equity raised in July.

• Statutory NPAT loss narrowed to $(33.7)m, an improvement of $11.1m year-over-year.

Outlook and guidance

• Full-year 2026 revenue guidance upgraded to $360m–$400m, including MARSS.

• Revenue guidance is based solely on secured contracts; no conditional or unsigned contracts included.

• Order book at 30 June 2026 was approximately $846m, supporting future revenue.

• Expect continued strong demand, especially in counter-drone and space control markets.

• Revenue outlook assumes no major supply chain disruptions or unforeseen events.