Lycopodium Limited (ASX: LYL) reported record revenue of $377.5 million for FY26, an 11% increase year-over-year, but posted a 13% decline in EBITDA to $59.5 million and a 5% drop in net profit after tax to $40.2 million. The company’s cash position rose 34% to $106.2 million, while equity increased 13% to $170.7 million. Earnings per share fell 5% to 101.1 cents, though the fully franked dividend rose 69% to 59 cents per share.
Revenue growth was driven by the process and engineering segment, which contributed $219.4 million, while the delivery phase generated $106.7 million and evaluation phase produced $41.8 million. Geographically, Africa accounted for 58% of revenue, Asia-Pacific 24%, and the Americas 11%. Globally diversified enterprises contributed 55% of revenue, major mining companies 32%, and emerging miners 13%.
For FY27, Lycopodium guided revenue to $540 million-$580 million, representing approximately 50% growth at the midpoint. Net profit after tax is projected at $54 million-$58 million, implying roughly 40% growth. The company noted that nearly 70% of the guidance is already secured through committed contracts, with the remainder in final negotiation stages.
Peter De Leo, Managing Director and CEO, said the results reflected "disciplined delivery across a diversified portfolio of resource projects." The company operates 18 offices across six continents, employing over 1,400 staff, including 180 in Toronto. Lycopodium’s resource studies pipeline has grown to more than 90, with a combined capital value of $11.4 billion, up 19% since December 2025.
The stock surged 11.58% to $21.00 following the announcement, trading near its 52-week range of $11.46 to $21.60. The company’s price-to-earnings ratio stands at 23.7.
