• Group revenue of $14.1 million, down from $17.1 million in the previous corresponding period
• Sales order intake of $15.6 million with continued progress in key verticals
• Group Underlying EBITDA of ($0.2 million), expected to improve in H2

Ava Risk Group Limited (ASX: AVA) ('Ava' or 'the Company') announces its half year results for the six months ended 31 December 2025. Group revenue was $14.1 million, down from $17.1 million in the previous corresponding period, reflecting delays in major Detect segment projects now expected in H2 FY2026. Sales order intake was $15.6 million with continued progress in key verticals - sovereign border protection, airport perimeter protection, and transportation. Group Underlying EBITDA was ($0.2 million), driven by the shortfall in revenue, expected to improve in H2. The Company has a sales order backlog of $7.8 million, including $2.6 million in contracted annual recurring revenue, and a cash balance of $2.7 million at 31 December 2025. The Company has also secured a strategic investment from Hale Capital, of up to $7.0 million via Convertible Loan Note and up to $5.6 million via associated warrants, providing growth capital to support U.S. expansion. The Detect segment's Aura Ai-X, the Company's market-leading, latest generation fibre sensing technology, remains at the forefront of supporting the sales opportunity pipeline, with progress in key segments during H1 FY2026. Revenue in both Access and Illuminate segments is consistent with the previous year.

Ava expects performance in H2 FY2026 to be significantly improved on the first half, with several key orders which were delayed in H1 expected to close in H2 FY2026, including a $1.0 million program for deployment in Aura Ai-X to corrections facilities in the U.S., two U.S. government detection programs worth $0.7 million, an Australian transport infrastructure project of $0.6 million, energy infrastructure programs in the US and Asia of $0.7 million, and a Middle East border protection order of $0.4 million, plus a broader program award expected in H2 FY2026.

The Company has progressed a number of large program tenders which are expected to finalise during H2 to drive revenue growth, including a Middle East sovereign border program ($2.5 million), Middle East oil and gas orders ($2.2 million and $1.0 million), an Australian transport infrastructure project ($0.8 million), and a Latin America solar farm protection order ($0.4 million). Operating margins and the cost base are expected to remain stable, resulting in the expected revenue growth driving improved earnings.