• Consolidated sales revenue of $4.8 million
• EBITDA of $1,083,000
• Net profit after tax of $314,000
• Debt-free with $6.9 million in cash, term deposits and receivables

Orbital Corporation Ltd, a world leader in the design and manufacture of integrated engine systems for military drones, presented its audited half-year financial results for the six months ended 31 December 2024. The company's consolidated revenue for the period was $4.8 million, down 43% from the corresponding period in 2023, largely due to delays in DSO National Laboratories production orders and the end of production of the Boeing Insitu V3 program. However, EBITDA of $1,083,000 represented a 263% increase on the December 2023 EBITA of $298,000, and the company reported a net profit after tax of $314,000, a substantial improvement on the December 2023 loss of $425,000. At 31 December 2024, Orbital UAV was debt-free, with cash, term deposits and receivables of $6.9 million, following the retirement of the WA Government loan facility balance of $2,486,000 during the period. The company continues to deliver against programs with existing customers, including successful delivery of pre-production engine packages to Textron Systems for the FTUAS program, a $3.5 million contract extension with DSO National Laboratories, and a new contract with Dynamatic Technologies Limited to integrate an Orbital 150 Heavy Fuel Engine into a new UAV platform for the Indian military. In December 2024, Orbital UAV completed a $2 million renounceable rights issue to fund customer engine development programs, Orbital UAV engine development programs, plant & equipment and general working capital.

Orbital UAV expects to continue the internally funded development of a new higher capacity engine package along with the commercialisation of advanced power management and ECU systems to deliver increased revenue through an expanded product range.

The repayment of the company's WA Government loan, the successful completion of the capital raising, and the establishment of a $2 million standby working capital facility have strengthened Orbital UAV's balance sheet and provide the financial capacity to progress the company's growth aspirations and new product development programs. The Textron Aerosonde® drones containing Orbital's 150HFE system are currently undergoing trials and field testing by the United States Department of Defence as part of the FTUAS program, with a final contract decision expected in Q3 of 2025.