• Signed and commissioned Malaysian SaaS and HPCaaS ('EPIC') contract with TCV of US$43.3m (US$30.1m net to DUG) over initial 3-year term
• Achieved record revenue (US$40.4m, +40%) and normalised EBITDA (US$13.6m, +161%) in FY26-H1
• Services revenue increased 30% driven by strong performance across established and emerging regions

DUG Technology Ltd reported its strongest half-year results to date, achieving record revenue (US$40.4m, +40%) and normalised EBITDA (US$13.6m, +161%) in FY26-H1. The company's performance was driven by the implementation and ramp-up of a major Malaysian SaaS and HPCaaS ('EPIC') contract, which had a total contract value of US$43.3m (US$30.1m net to DUG) over the initial 3-year term. The Services business also continued to deliver strong results, with revenue increasing 30% compared to FY25-H1, driven by performance in both established and emerging regions, as well as the continued adoption of MP-FWI imaging. Software revenue grew 29% and HPC revenue increased 313% compared to FY25-H1, reflecting the impact of the EPIC contract. Employee benefits increased 10% due to higher headcount in the Services business, while other expenses rose 48% due to costs associated with the EPIC contract and a one-off contingent liability provision. The company ended the period with a strong cash position of US$14.3m and net debt of US$0.3m.

FY26-H2 will have 6 months of full run rate EPIC revenue and margins. The company's industry-leading acoustic and elastic MP-FWI Imaging technology continues to drive momentum globally, with established regions continuing to grow and added momentum from emerging geographies. The combination of continued strength in established regions and early-stage scaling in new markets enhances both revenue visibility and long-term upside.