Highlights

  • Q1 FY27 Revenue fell 10.7% to A$5.6 million, while Recurring Revenue rose 2.3% to A$4.4 million.
  • Gross Margin improved to 83.0% from 78.4% in FY26, and unaudited quarterly EBITDA reached A$853,000.
  • Cash fell to A$1.63 million at 30 September 2026 after operating and intellectual property outflows.
  • Renewals worth A$3.5 million covered 18 customers, including five international airports in the USA, Middle East and New Zealand.

Margins widened at Beonic (ASX:BEO) in the first quarter of FY27, even as the timing of airport project milestones dragged on headline revenue. The venue analytics software company reported revenue of A$5.6 million for the three months to 30 September 2026, down 10.7% on the prior corresponding period, which had included the first Tranche of its Moroccan airports contract.

Recurring revenue, however, rose 2.3% to A$4.4 million and made up 78% of the total. Gross margin improved to 83.0% from 78.4% in FY26, which management linked to lower delivery costs and a higher-quality revenue mix, and unaudited EBITDA was A$853,000, a 15.1% margin.

Cash Dips as Collections Shift Into Q2

Customer receipts totalled A$4.42 million, but operating cash outflow was A$987,000, reflecting the timing of customer collections and one-off costs tied to a Leadership change. A further A$728,000 was invested, mainly in intellectual property, while Equity issuance brought in A$683,000. Cash fell to A$1.63 million from A$2.67 million, equal to an estimated 1.7 quarters of funding.

Financing facilities of A$5.69 million were fully drawn. They include A$4.27 million of convertible notes issued in August 2025 and about A$1.4 million of short-term loans from two directors and an executive, which carry 15% interest and mature on 31 December 2026. Management expects material billings from Abu Dhabi Airport and Morocco to start being collected in the December quarter and said it believes these will fund operations for FY27, with no further Capital raise planned.

Airports Anchor the Customer Book

Annual recurring revenue stood at A$17.3 million, up 1.8%, or A$17.9 million at constant currency. The company noted that currencies of several foreign-billed customers have fallen by about 5% to 10% against the Australian dollar since late February 2026. New wins and expansions worth A$0.5 million came from 16 customers, including three major international airports, a capital city council and a US automotive brand.

Renewals of A$3.5 million spanned 18 customers, and a major Middle East airport renewed in October 2026. The Moroccan deployment is live at five of seven airports, with the remaining two regional sites in user acceptance testing and delivery expected in Q2 FY27.

Vision Rollout and Pipeline Conversion Shape FY27

Beonic Vision, the in-house AI product launched commercially in April 2026, converts existing CCTV networks into privacy-preserving flow analytics on low-cost edge hardware. It is connected at a top-ten US airport and is undergoing a 250-camera evaluation with a major US transport authority. For FY27, management is targeting conversion of a A$33 million qualified pipeline, stronger positions at Denver International Airport and in Morocco, cost discipline and lower churn. It expects the non-recurring revenue shortfall to narrow as Moroccan milestones are delivered.

For FY26, revenue rose 5.2% to A$23.3 million, EBITDA reached A$4.0 million and the net loss narrowed 50.5% to A$1.57 million. Shares were unchanged at A$0.10 on 2 November 2026, giving a Market Capitalisation of about A$10.55 million, and were down 42.72% over 12 months.