EPX (ASX:EPX) FY26 Results: Recurring Revenue Exceeds AUD 15mn as Site Numbers Rise 48%

Aditi Sarkar

28 August 2026 10:29 AM AEST

EPX (ASX:EPX) FY26 Results: Recurring Revenue Exceeds AUD 15mn as Site Numbers Rise 48%

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Highlights

- Operating Revenue increased 7% to AUD 15.8mn, while ARR rose 13% to AUD 17.5mn.

- Site numbers increased 48% during FY26 to 1,142.

- Underlying EBITDA was a loss of AUD 1.4mn after planned Investment in sales, Marketing and product.

- Wattwatchers contributed AUD 1.5mn of total revenue, including AUD 1.1mn of recurring revenue.

EPX (ASX:EPX) reported FY26 results showing growth in recurring revenue, annual contract value and customer sites, while the company continued investing in sales, marketing, product development and the integration of Wattwatchers.

Operating revenue increased 7% to AUD 15.8mn, while Annual Recurring Revenue rose 13% to AUD 17.5mn. Site numbers increased 48% during the year to 1,142.

Recurring Revenue Remains the Core

Recurring revenue increased 3% to AUD 15.0mn and represented more than 90% of total operating revenue.

Revenue recognition was affected by installation delays across some UAE healthcare sites, with approximately AUD 0.3mn of delayed revenue expected to be delivered in August and September.

New contracts signed during H2 FY26 included AUD 0.4mn from a 157-site TAFE NSW contract, AUD 0.3mn of contract uplift from Great Western Railway and AUD 1.1mn from re-enlivened Wattwatchers customers.

Wattwatchers Integration Adds to Revenue

EPX completed its Acquisition of Wattwatchers from administration under a DOCA in December 2025.

Wattwatchers generated AUD 1.5mn of total revenue, including AUD 1.1mn of recurring revenue. ARR from re-enlivened customers increased from AUD 0.4mn in March 2026 to AUD 1.1mn in June.

EPX also deactivated more than 20% of devices acquired through the Wattwatchers transaction as it repositioned the Business towards large commercial customers and EDGE installations.

EBITDA and Cash Flow

Underlying EBITDA was a loss of AUD 1.4mn, compared with a loss of AUD 1.1mn in the prior period.

The result reflected AUD 0.7mn of planned investment in sales, marketing and product, partly offset by AUD 0.4mn of employee and cost savings from operational changes.

Operating Cash Flow was an outflow of AUD 2.6mn for FY26. However, underlying EPX Operating Cash Flow improved from an AUD 1.2mn outflow in H1 to an AUD 0.7mn outflow in H2.

UAE debtor collections also improved, with AUD 0.3mn collected by 30 June and a further AUD 0.3mn recovered in July.

Building Performance Platform

EPX provides building performance technology through its EDGE and EDGE Industrial platforms.

The technology collects and analyses more than 5.6bn data points annually across a portfolio covering more than 7.5mn square metres in over 25 countries.

The company said the platform identifies building performance, maintenance and energy efficiency opportunities.

What Could Come Next for EPX (ASX:EPX)?

EPX expects the improving Wattwatchers revenue stream to continue into FY27, while new customer installations are expected to contribute to future revenue.

The company will also focus on regional sales structures, product improvements, UAE collections and commercial relationships across FirstGroup, Great Western Railway and Avanti rail businesses.

FAQs

Q: What was EPX’s FY26 operating revenue?

A: Operating revenue increased 7% to AUD 15.8mn.

Q: How did ARR perform?

A: Annual Recurring Revenue increased 13% to AUD 17.5mn.

Q: How many sites did EPX have at the end of FY26?

A: Site numbers increased 48% to 1,142.

Q: How did Wattwatchers contribute?

A: Wattwatchers generated AUD 1.5mn of total revenue, including AUD 1.1mn of recurring revenue, after its acquisition in December 2025.

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