Atturra Limited reported full-year FY26 revenue of A$351.8 million, a 17% increase from A$300.6 million in FY25, driven by expansion in public sector and financial services contracts. Underlying EBITDA declined 5% to A$30.1 million, reflecting higher investment costs despite a 27% compound annual growth rate in revenue since FY22.
The company’s gross margin narrowed to 33% from 34% in the prior year, with gross profit rising 15% to A$117.4 million. Statutory EBIT swung to a loss of A$13.8 million, including A$22.8 million in non-cash intangible asset impairments, compared with a A$15.0 million profit in FY25. Reported net profit after tax fell to a loss of A$21.7 million from a A$9.1 million profit in the prior year.
Underlying net profit after tax adjusted for one-off items totaled A$13.5 million, down 31% from A$19.6 million in FY25. Cash and cash equivalents decreased 28% to A$66.0 million, while trade receivables rose 28% to A$87.7 million and inventories surged to A$11.1 million from A$0.4 million. Operating cash flow for the full year was A$9.1 million, down from A$14.7 million in FY25, though second-half cash flow improved to A$22.5 million.
Atturra’s predictable revenue reached 78% of total, exceeding its 75% target, with 51% recurring revenue and 27% long-term client revenue. Public sector work accounted for 34% of FY26 revenue, followed by financial services at 29% and energy and resources at 11%. The company deployed A$23.5 million in acquisitions and earnouts, A$9.4 million in share buybacks, and A$8.5 million in capital expenditures.
Management outlined a A$4 million investment in Scholarion for FY27, with an expected loss of A$2.4 million after capitalization in the first half. Break-even is projected for FY28, with meaningful profitability targeted in FY29. Scholarion, now operating as a standalone unit within Atturra, serves six contracted clients with a sales pipeline of about 40 opportunities, targeting a 16.8% CAGR market over a 13-year replacement cycle.
Atturra shares fell 7.5% to A$0.37 following the presentation, after trading between A$0.35 and A$0.85 over the past year.
