Imdex (IMD) AGM 2026 presentation + Q1 2027 TU earnings summary

FY26 financial performance

• Revenue reached a record $520m, up 21% YoY (23% constant currency); normalised EBITDA rose 29% to $163m and normalised NPAT rose 37% to $59m.

• Normalised EBITDA margin expanded 2 percentage points to 31%, with earnings growth outpacing revenue growth.

• Normalised cash conversion was 83%; net debt was $199m after acquisition funding, leverage was 1.3x, and the fully franked FY26 dividend was 3.4cps, a 30% payout of normalised NPAT.

• Five-year revenue CAGR was 15% versus estimated exploration-budget growth of 6%; platform revenue rose from 33% to 47% of revenue over the period.

Strategy and industry outlook

• FY26 share of wallet reached $2.40 per $100 of estimated exploration spend including acquisitions, with organic share at $2.30 versus $2.20 in FY25; platform revenue was 47% of revenue.

• Completed acquisitions of Earth Science Analytics, Datarock, ALT, Mount Sopris Instruments and Krux; integration was progressing to plan, with 8% of FY26 revenue invested in R&D.

• Growth priorities span customer share of wallet, technology-led market-share gains, expansion into mining production and adjacent earth-science markets, and structural growth in exploration.

• CY26 global exploration budgets increased by double digits YoY; junior and intermediate financings raised US$27bn over 12 months versus US$15bn in the prior comparable period.

Q1 FY27 trading update

• Record Q1 revenue was $161m, up 31% YoY and 7% QoQ; organic growth was 21% YoY, with $12m from acquisitions. Revenue growth exceeded the 7% increase in drilling activity.

• Platform revenue rose 44% YoY to $82m, reaching 51% of revenue; equipment, sales and services revenue increased 20% to $79m, with fluids a key contributor.

• Platform-enabled hardware rose 37% YoY, software and platform advisory 167%, and product sales 25%; integrated on-site services were consistent YoY.

• Revenue grew 24% YoY in the Americas, 29% in APAC and 37% in EMEA; Digital Earth Knowledge revenue rose 133%, including acquired-business contributions.

• Q1 share of wallet was $2.50 per $100; next-generation tools were 15% of the fleet versus 12% at FY26, and R&D, transformation and integration were on track.