Key points
- FY26 revenue: $51.7m, upper end of guidance
- EBITDA: $3.6m, upper end of guidance
- Cashflow from operations: $4.8m, up 64% year-on-year
- Net debt reduced to $1.2m after capital raise
Full summary
VEEM Ltd, an Australian Defence manufacturer, reported its financial results for the year to 30 June 2026. Revenue was $51.7m, at the upper end of guidance, and EBITDA was $3.6m, also at the upper end of guidance. The company experienced a strong second half, with revenue of $28.3m, up 21% on the first half. Cashflow from operations was $4.8m, up 64% year-on-year. Net debt was reduced to $1.2m after a net capital raise of $13.1m. The company also recognized a one-off non-cash impairment of $24.8m related to gyrostabilisers. FY26 was a transitional year for VEEM, marked by the development and launch of the VEEM Extreme propulsion range and Mark III gyro.
Guidance
FY26 revenue: $51.7m, EBITDA: $3.6m, Cashflow from operations: $4.8m
Outlook
VEEM plans to focus on commercializing the recently launched VEEM Extreme and Mark III gyro products in FY27, aiming for growth as the marine market improves.