Atturra (ATA) H1 2025 earnings summary

Executive summary

• Revenue for H1 FY25 increased 27% year-over-year to $141.3 million, with underlying EBITDA up 23% to $13.6 million and statutory EBIT up 26% to $6.7 million.

• Net profit after tax attributable to owners rose 55.4% to $4.2 million, and earnings per share increased 14% to 1.31 cents.

• Cash on hand at 31 December 2024 was $98.4 million, up from $60.6 million at 30 June 2024, with an undrawn facility of $39.2 million.

• Four acquisitions completed: Exent Holdings, Chrome Consulting, Plan B, and ComActivity, expanding technology and consulting capabilities.

• Continued focus on expanding proprietary solutions, including Scolarian and Atturra Cloud Platform, and industry-specific offerings.

Financial highlights

• Gross margin improved to $45.8 million (32%), with underlying EBITDA margin at 9.6%.

• Net profit after tax increased 59% year-over-year to $4.2 million.

• Cash balance rose to $98.4 million, up 103% year-over-year, and net tangible assets increased to $63.7 million.

• Operating cash flow for the half-year was $5.4 million, up from $2.9 million year-over-year.

• Shareholders' equity rose to $225.2 million from $150.2 million at 30 June 2024.

Outlook and guidance

• FY25 revenue forecast is $305–$320 million, with underlying EBITDA expected between $31–$34 million.

• Strategic focus on managed services, proprietary solutions, and selective offshore growth.

• Guidance incorporates risks, particularly in federal government demand, but expects to offset challenges in the second half.

• Focus remains on high-growth technologies and industries with high barriers to entry or no clear market leader.