Energy One Limited (ASX: EOL) posted a 42% increase in underlying cash EBITDA to $14.9 million for the fiscal year ended June 30, 2026, as recurring revenue climbed 17% to $63.5 million. Total revenue rose 14% to $69.9 million, with recurring revenue comprising 91% of the total.
Underlying profit before tax advanced 51% to $12.5 million, while underlying net profit after tax increased 56% to $9.2 million. Earnings per share grew 55% to 29.2 cents. Free cash flow totaled $10.8 million, up from $8.5 million in the prior year, and the company transitioned from a net debt position of $6.7 million to a net cash position of $0.7 million, with $17.1 million in facility headroom.
Cash EBITDA margins expanded to 21% from 17%, with a 23% exit run rate achieved. Cash expenditure as a percentage of revenue declined to 80% from 85%. Recurring revenue growth was driven by both Australia and Europe, where ARR rose 10% and 14% on a constant currency basis, respectively.
Customer attrition increased to 5.2% in FY26, above the prior year's 4.0% and the 4.5% target, with roughly half attributed to four customers. Customer installations remained flat at 443, though ARR per installation rose 14%. SaaS net revenue retention was maintained at 120%, while enterprise NRR declined to 102% from 118%.
Energy One set a target to reach a 30% cash EBITDA margin by the end of FY27, up from the 23% exit run rate. The company also projected at least 15% recurring revenue growth for FY27. Management highlighted AI adoption targets, including a fourfold increase in quality assurance code coverage and 90% AI adoption by FY27, alongside a 40% acceleration in delivery speed.
The stock closed at $15.59, up 3.11% from the prior session, with a 52-week range of $10.28 to $20.19.
