Why Did Nuchev Limited (ASX:NUC) Report Higher Revenue but a Wider FY26 Loss?

Aditi Sarkar

28 October 2026 03:24 PM AEDT

Why Did Nuchev Limited (ASX:NUC) Report Higher Revenue but a Wider FY26 Loss?

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Highlights

FY26 revenue increased 12.0% to AUD 25.7 million
Gross margin decreased from 47.3% to 43.6%
Adjusted EBITDA loss widened to AUD 4.6 million

Nuchev Limited (ASX:NUC) shares were quoted at AUD 0.08, with a 0.00% movement. The company operates in the food, dairy and nutrition sector and reported financial results and operational developments for FY26. Its disclosures include figures for the financial year ended 30 June 2026 and, where specified, subsequent operating information. The business update covers its principal activities, financial results and management priorities.

Sales and Gross Profit

Nuchev Limited reported AUD 25.7 million in FY26 revenue, up 12.0% from AUD 22.9 million. Gross profit increased 3.2% to AUD 11.2 million from AUD 10.9 million, while gross margin fell to 43.6% from 47.3%. The company attributed margin movements to a combination of channel and product mix, promotional activity, product costs and logistics. Cost of sales increased 19.9% to AUD 14.5 million, faster than revenue growth.

Domestic and International Markets

Australia and New Zealand revenue increased 37.9% to AUD 19.4 million, compared with AUD 14.1 million in FY25. The domestic business accounted for approximately 76% of FY26 group revenue. International revenue decreased 29.3% to AUD 6.3 million from AUD 8.9 million. The FY26 presentation identified China revenue of AUD 4.9 million and Vietnam revenue of AUD 1.4 million. These market movements formed part of the broader group revenue result.

Earnings and Cash

Nuchev reported an adjusted EBITDA loss of AUD 4.6 million, compared with a loss of AUD 3.3 million in FY25. The statutory loss after tax was AUD 7.4 million, compared with AUD 3.8 million. The statutory result included a non-cash goodwill impairment of approximately AUD 1.9 million. Operating cash used totalled AUD 6.639 million in FY26, compared with AUD 3.742 million in FY25. Cash at 30 June 2026 was approximately AUD 2.125 million, down from AUD 3.607 million.

Costs and Operating Model

Employee benefits expense increased to AUD 7.4 million from AUD 6.1 million, while sales and marketing spending was AUD 4.5 million compared with AUD 4.2 million. The company stated that its FY27 focus would include improving gross margin, operating performance and cash conversion. These priorities were presented without a guaranteed earnings outcome.

FAQs

Q: What was Nuchev’s FY26 revenue?

A: AUD 25.7 million, up 12.0%.

Q: What was the FY26 gross margin?

A: 43.6%, versus 47.3% in FY25.

Q: How much cash was held at year-end?

A: Approximately AUD 2.125 million.

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