M.T.I Wireless Edge (MWE) Q2 2026 earnings summary

Executive summary

• Achieved record revenues and double-digit growth in revenue, operating profit, net profit, and EPS for 2025 and H1 2026, with gross margin rising to 33.8% from 32.5%.

• All business segments are growing and profitable, with strong performance in defense and water management, and diversified contributions from antennas, water solutions, and consulting.

• Maintained a strong cash position with $7.7m net cash after a $3.0m dividend payment in April 2026.

• Significant order backlog and robust pipeline support a positive outlook for 2026 and beyond.

• Mottech division delivered excellent results, driven by new hardware, expanded product offerings, and international expansion.

Financial highlights

• 2025 revenue reached $51.5m, up 13% YoY; H1 2026 revenue was $26.7m, up 11% YoY; operating profit $5.8m in 2025 (up 29% YoY), $3.0m in H1 2026 (up 21% YoY).

• EPS for 2025 was 5.86 US cents (up 17% YoY); H1 2026 EPS was 2.88 US cents (up 15% YoY); net profit up 28% in H1 2026.

• Gross margin improved to 33.8% in H1 2026 from 32.5% in H1 2025; operating margin 11.3% in 2025 and H1 2026.

• Net cash at $7.7m as of June 30, 2026, after $3.0m dividend payment; cash and cash equivalents at $8.2m.

• Military/defense segment accounted for 47% of revenue in H1 2026, expected to exceed 50% by year-end.

Outlook and guidance

• Optimistic outlook for H2 2026 and into 2027, with a strong pipeline and backlog in defense and commercial segments.

• Growth expected from increased defense budgets, demand for smart irrigation, and ABSⓇ antenna solutions.

• Continued focus on innovation, EPS growth, and global expansion, including Mottech's U.S. presence and further M&A.

• Board confident in trading in line with market expectations for the full year.

• Q3 trading started well, with activity focused on delivery of secured orders.