SciDev Ltd reported a 17% year-over-year decline in total revenue to $85.5 million for FY26, as a 39% drop in Energy Services revenue outweighed gains in Water Solutions. The company’s share price fell 2% to $0.148 AUD following the release of its FY26 presentation on August 26, 2026.
Underlying EBITDA for the full year contracted 49% to $3.6 million, though the second half showed a marked improvement, with underlying EBITDA more than doubling to $2.5 million from $1.1 million in the first half. The EBITDA margin expanded from 2.3% to 6.7% in the second half, reflecting cost reductions and operational efficiency gains. Net cash increased to $6.8 million, while total available liquidity stood at $13.8 million, including $7.0 million of unused debt facilities.
Water Solutions delivered record performance, with revenue rising 13% to $48.3 million and underlying EBITDA climbing to $4.2 million from $0.6 million a year earlier. Process Chemistry revenue grew 5% to $27.3 million, while Water Technologies revenue surged 27% to $21.0 million. The segment’s recurring revenue accounted for 38% of total revenue, up from 30% in FY25. Key contracts included a $19.5 million groundwater treatment deal at Rum Jungle and a $2 million annual chemistry contract with Newmont’s Boddington mine, set to commence in the first half of FY27.
Energy Services revenue fell 39% to $36.6 million, with underlying EBITDA dropping 64% to $4.8 million. The segment’s performance was weighed down by a decline in xSlik® volumes, though CatChek® products grew to represent 51% of Energy Services revenue, up from 41% in FY25. Corporate costs were reduced by $1.6 million, or 33%, contributing to an overall $4 million reduction in the cost base.
SciDev’s liquidity position remained robust, with working capital decreasing 4% to $11.6 million and total liabilities falling 25% to $18.8 million. The company’s InvestingPro Financial Health Score was rated 3.32 out of 5, described as "GREAT."
