• Consolidated revenue of $11.0m, up 17.8% on 1H24
• Operating EBITDA of $0.6m, up $0.5m on prior corresponding period
• NPATA of $0.09m compared to NPATA loss of $0.79m in prior corresponding period

SOCO Corporation Ltd (ASX:SOC) reported its 1H FY25 results, with consolidated revenue increasing 17.8% to $11.0m compared to the prior corresponding period. Operating EBITDA was $0.6m, up $0.5m on the prior corresponding period, while NPATA was $0.09m compared to a loss of $0.79m in the prior corresponding period. The first half was impacted by slowing demand from Federal Government clients, though the company's Axsym operations and management systems were fully integrated and delivering synergies. SOCO maintained a strong client base, with 81 existing clients delivering 86% of 1H25 revenue and 27 new clients contributing 14% of revenue. The company strengthened its federal government presence, including additional panel access and Defence Industry Security Program membership. Financially, SOCO had zero bank debt, $1.6m in cash on hand, and an available undrawn facility of $2.4m. The company is forecasting full-year FY25 revenue to be in the range of $22m to $24m, though the upcoming election is expected to see more challenging demand conditions during 2H25 than originally anticipated.

Forecast full year FY2025 revenue to be in the range of $22m and $24m.

Based on current in-flight project and contract pipelines, management forecast full year FY2025 revenue to be in the range of $22m and $24m. The upcoming election is expected to see more challenging demand conditions during 2H25 than originally anticipated. The Company is also making good progress to diversify its client base with 21 of the 27 new clients signed in 1H25 being non-government corporations.