Powermatic Data Systems (BCY) H2 2025 earnings summary

Executive summary

• FY2025 revenue fell 49% YoY to $14.36m; profit before tax was $3.79m and net profit was $3.25m.

• Lower customer orders amid inventory digestion weighed on wireless sales; improving legacy Wi-Fi replenishment and rising Wi-Fi 7 evaluations point to potential recovery, subject to qualification.

Financial highlights

• Revenue was $14.36m versus $28.10m in FY2024; gross profit declined to $6.81m from $15.32m.

• Gross margin was 47%, down from 55% YoY; FY2025 PBT was $3.79m versus FY2024 reported PBT of $6.28m.

• FY2024 PBT excluding the non-recurring $5.8m Harrison Road property write-down was $12.12m; FY2025 EPS was 9.29 cents versus 11.97 cents.

• Net profit was $3.25m versus $4.19m; other income and gains were $1.51m, including $1.41m interest income.

• Net cash from operating activities was $7.10m versus $9.09m; cash and cash equivalents ended FY2025 at $63.46m.

Outlook and guidance

• Wi-Fi 7 evaluation requests are gradually increasing, but customer integration and qualification take time; mass deployment depends on successful system validation.

• Legacy Wi-Fi inventory levels have normalized and replenishment orders have picked up; R&D is developing products for evolving customer needs.

• FY2026 other income is expected to fall versus FY2025 due to lower interest rates and reduced cash available for deposits as funds are deployed for Harrison Food Centre development.