Energy One (EOL) H1 2026 earnings summary

Executive summary

• Revenue grew 21% year-over-year to $34.8m for the half year ended 31 December 2025, with recurring revenue at a record 91% of total revenue and strong organic growth in both Europe and Australia.

• Annual Recurring Revenue (ARR) reached $64.0m, up 20% year-over-year (FX adjusted 17.4%), with robust pipeline growth and multi-product wins.

• Underlying cash EBITDA rose 63% to $7.3m, with margin improving to 21% and strong operational leverage.

• Net profit after tax increased 63% year-over-year to $4.0m, with adjusted NPAT up 56% after one-off costs.

• CEO transition announced, with Ben Tranier to succeed Shaun Ankers, maintaining strategic continuity.

Financial highlights

• Underlying EBITDA up 31% to $9.7m; underlying EBIT up 38% to $6.5m compared to H1 FY25.

• Gross margin improved to 66%, supported by upselling and bundling strategies.

• Free cash flow momentum enabled a $2.4m fully franked dividend, representing 40% of NPAT.

• Net debt reduced by $7.2m to $5.8m, with leverage down to 0.4x EBITDA.

• Cash expenses up 11% year-over-year after adjusting for share-based payments.

Outlook and guidance

• ARR pipeline up 24% year-over-year, with recurring revenue growth target of 15–20% and margin expansion as a priority.

• Cash EBITDA margin targeted to reach ~30% by late 2027.

• Net cash position anticipated around Q1 2027.

• Continued investment in AI, automation, and new product development to support growth.

• Attrition expected to trend down to 2.5–4.0% for FY26; gross margin guidance 64–66%.