Highlights

  • Q4 2025 revenue reached AUD 14.4 million, bringing total 2025 revenue to AUD 35 million and providing clear revenue visibility for 2026.
  • Halo platform advanced to Phase 3 of Project G.I. with DIU funding, reinforcing Elsight’s presence in U.S. defence programs.
  • First Aura units delivered and AUD 32.1 million in early 2026 orders secured.

Elsight Ltd (ASX:ELS) continued its positive momentum on 27 January 2026, rising 2.78% in today’s trading session, building on a 35% year-to-date increase. The share price surge follows the company’s record Q4 2025 results, which included historic quarterly revenue, expanding global contracts, and the delivery of its first Aura units, signaling visibility for 2026.

Record Quarterly Revenue and Expanding Backlog

Elsight reported Q4 2025 revenue of approximately USD 9.3 million (~AUD 14.4 million), marking the fourth consecutive quarter of increased revenue. The cumulative revenue for 2025 reached USD 22.8 million (~AUD 35 million), an elevenfold increase compared with the previous year. The company’s order backlog expanded to approximately USD 22 million (~AUD 32.13 million), providing clear revenue visibility into the first quarter of 2026.

U.S. Defence Presence and Program Progress

During the quarter, Elsight successfully demonstrated its Halo platform to multiple U.S. Department of Defence units and was selected by the Defense Innovation Unit (DIU) for Phase 3 of Project G.I. (DRM2). DIU funding will support final fielding, testing, and regulatory processes ahead of production procurement expected in H1 2026. In parallel, Elsight expanded its U.S. and global business development team with five senior hires across the United States, United Kingdom, Germany, and the Middle East to strengthen engagement with defence, government, and commercial customers.

Product Portfolio and Commercial Expansion

Elsight delivered the first Aura units during Q4 2025, expanding its addressable market beyond uncrewed platforms to soldier-level communications. The Company also secured a USD 21.2 million (~AUD 32.1 million) order scheduled for delivery between January and April 2026, and a post-quarter USD 460K (~AUD 0.7 million) commercial purchase order, highlighting growing adoption in public safety applications. Software licenses, cloud services, and connectivity subscriptions reached USD 2.6 million (~12% of total revenue), representing a 253% year-on-year increase.

Financial Position and Outlook

The Company ended Q4 with USD 59 million (~AUD 86 million) in cash, providing a foundation for growth and continued investment in sales, marketing, and customer engagement. With a growing backlog, multiple programs advancing toward scale, and a pipeline of commercial and defence opportunities, Elsight is positioned to convert momentum from Q4 into multi-year expansion. The company plans to host a Q4 webinar presentation on 4 February 2026.