Daily Roundup

Megaport is riding high on the back of major AI infrastructure wins. The company just locked in three new contracts worth a combined $978.6 million, which is a serious vote of confidence in its platform. These deals include GPU and CPU compute, network, and storage for AI applications—exactly the kind of infrastructure powering the current AI boom. By the fourth quarter of FY27, these contracts are expected to add roughly $232.4 million in annual recurring revenue, pushing the company's pro forma ARR to around $1.1 billion.

The momentum is translating into upgraded guidance. Megaport now expects FY27 revenue between $720 million and $810 million with an EBITDA margin of 42-44%. The company is also ramping up capital expenditure to between $1.78 billion and $1.88 billion to support these strategic initiatives and replenish its GPU pool. With pro forma liquidity of approximately $362.2 million, Megaport says it's fully funded for everything on the roadmap.

Over in the communications space, Codan Ltd is experiencing a significant surge in demand. The company's Communications segment is expected to exceed $400 million in revenue during the first half of FY27, with conflict regions driving much of that growth. The segment is maintaining an impressive EBIT margin of around 40%, while the Minelab business continues to perform solidly. For the full year, Codan is targeting Communications revenue growth of 30-40%, and it's projecting group net profit after tax of at least $160 million for H1 FY27 alone.

Develop Global Ltd has laid out its FY27 production roadmap. Woodlawn is guided to produce between 775,000 and 875,000 tonnes of ore at 2.7% copper equivalent, containing 21,000 to 23,500 tonnes of copper equivalent metal. Pioneer Dome is expected to mine 650,000 to 750,000 tonnes of ore at 1.2% lithium oxide, delivering 7,800 to 9,000 tonnes of lithium metal. The company is allocating between A$367 million and A$406 million in growth capital to Yitirrti, which remains under construction but is positioned to make a meaningful contribution in FY28. Develop Mining Services is forecasting FY27 revenue of A$100 million to A$110 million.

Engineering and project services company Lycopodium has landed a significant contract for Endeavour Mining's Assafou Gold Project in Côte d'Ivoire. The engineering and procurement services contract is valued at approximately A$42.9 million and covers the delivery of engineering and procurement for a 5.0 million tonne per annum carbon-in-leach processing plant and associated infrastructure. Lycopodium has a strong track record with Endeavour, having delivered more than five major capital projects over the past 12 years, including the feasibility studies for Assafou. Early works and design activities are already underway, though full project implementation remains contingent on Endeavour's final investment decision, expected before the end of 2026.

Perenti Ltd is also celebrating a bumper contract haul worth A$200 million. The company's five drilling businesses secured contracts across Australia, the USA, and Canada that are expected to contribute approximately A$185 million in FY27 revenue. Additionally, Perenti's AUMS division landed a contract with Endeavour Mining for work at the Sabodala-Massawa Mining Complex in Senegal, with the initial phase valued at around A$20 million. The company sees potential for the scope to expand as the Senegal project progresses.