Energy One (EOL) H2 2026 earnings summary

Executive summary

• Achieved strong FY26 results with 17% recurring revenue growth, significant margin expansion, and validation of the one-stop-shop and integrated Software + Services strategies.

• Major multi-product customer wins, expanded product offerings, and deeper customer relationships in Australia and Europe.

• Strengthened balance sheet, eliminating net debt and closing FY26 in a net cash position, increasing strategic flexibility.

• Operating leverage improved through disciplined cost control, AI pilots, and leadership transition.

• Announced strategic acquisition of GMSL, doubling the European customer base and accelerating growth ambitions.

Financial highlights

• Revenue grew 14% year-over-year to $69.9 million; recurring revenue up 17% to $63.5 million; ARR reached AUD 64.6 million, up 13% on a constant currency basis.

• Underlying EBITDA increased 28% to $20.7 million; underlying cash EBITDA up 42% to $14.9 million, with margin at 21% and 23% exit rate.

• Underlying NPAT rose 56% to $9.2 million; underlying EPS up 55% to 29.2 cents.

• Net revenue retention at 106%; gross margin improved to 67% from 64% in FY25.

• Pipeline at June 30 was AUD 5.1 million contracted ARR, a 28% increase year-over-year.

Outlook and guidance

• Targeting at least 15% recurring revenue growth and a 30% cash EBITDA run rate by end of FY27 (organic basis).

• ARR and total revenue expected to grow 15% or more in FY27, underpinned by $5.1 million contracted ARR not yet billed.

• GMSL integration expected to deliver 35% EPS accretion pro forma and 15%+ recurring revenue growth post-FY2028.