• Underlying EBITDA of $19.2m, up 9.2% year-on-year
• Australian business showed good underlying growth of 8.3%
• Group's forward pipeline of installation work increased by 36.0% for Q2 over Q1 to $49.8m
• Underlying operating cash flow up 25.3% to $9.4m, with $36.2m cash in the bank

Intelligent Monitoring Group Limited (ASX: IMB) has released its Appendix 4D and FY26 Half-Year Report for the 6 months ended 31 December 2025. The company reported an underlying EBITDA of $19.2m, up 9.2% year-on-year, which aligns with company expectations despite a weak Q1 for the NZ business. The Australian business continued to show good underlying growth of 8.3% before the acquisition effects. The group's forward pipeline of installation work increased by a further 36.0% for Q2 over Q1 to $49.8m. The NZ business suffered a slow start but has now reversed, with the pipeline kicking into gear and a good push through to June expected. Underlying operating cash flow was up 25.3% to $9.4m, with cash in the bank ending the period at $36.2m, putting the business in strong financial shape. The company remains comfortable with its AGM guidance of an underlying EBITDA of $43-47m, which translates to an expected pro forma EBITDA of $53-57m when the Tyco NZ transaction settles. At this EBITDA level, pro forma EPS of $0.062-$0.069 cps is expected.

The company remains comfortable with the AGM guidance of an underlying EBITDA of $43-47m, which translates to an expected pro forma EBITDA of $53-57m when the Tyco NZ transaction settles (likely during the 4th Qtr). At this EBITDA level, pro forma EPS of $0.062-$0.069 cps is expected.

With the NZ business now coming back on track, the significantly growing order book, and the pending settlement of Tyco NZ, the company looks forward to the FY26 results with confidence, and then into what will be a bigger still FY27.