Key points
- Consolidated revenue of $20.6m, down 3.1% on PCP, with H2 revenue increasing 12.5% to $10.9m
- Gross profit increased 2.6% on PCP to $5.28m, with H2 gross profit increasing 71% to $3.33m
- Gross margin improved to 25.6%, up 1.4 percentage points on PCP, with H2 gross margin strengthening to 30.5%
- Statutory NPAT loss of $6.35m, reflecting a $5.12m non-cash impairment relating to the Axsym business
- H2 returned to positive underlying EBITDA of $0.22m, compared with a $0.64m loss in H1
Full summary
SOCO Corporation Ltd announced its financial results for the full year ended 30 June 2026. Consolidated revenue was $20.6m, down 3.1% from the prior corresponding period (PCP). However, H2 revenue increased 12.5% to $10.9m from $9.7m in H1. Gross profit increased 2.6% to $5.28m, with H2 gross profit rising 71% to $3.33m. Gross margin improved to 25.6%, up 1.4 percentage points on PCP, with H2 gross margin strengthening to 30.5%. The statutory net loss after tax was $6.35m, predominantly reflecting a $5.12m non-cash impairment relating to the Axsym business. H2 returned to positive underlying EBITDA of $0.22m, a $0.86m improvement from the $0.64m loss in H1. FY2026 underlying EBITDA was a loss of $0.43m. Contracted sales reached a record of over $24m for FY2026, with H2 contracted sales up over 40% on H1. H2 operating cash flow returned to positive $0.4m, compared with a $0.74m outflow in H1. FY2026 operating cash outflow was $0.34m.
Outlook
SOCO enters FY2027 with a stronger operating base and improved forward revenue visibility. Approximately $9.5m of contracted project value has rolled into FY2027 for mobilisation and delivery. Sales momentum has continued into FY2027, with approximately $2.9m of additional contracted sales secured between 1 July and 15 August 2026.