Highlights

  • Momentum Energy selected Gentrack's g2 billing solution to support more than 200,000 residential and Business meter points.
  • Gentrack will release results for the year to 30 September 2026 on 23 November 2026, with a webcast.
  • FY26 guidance points to Revenue of NZ$229–238 million and EBITDA of NZ$13.5–20 million before Acquisition costs.
  • First-half Recurring Revenue grew 12% to NZ$85.3 million, while total revenue eased to NZ$110.1 million.

Gentrack Group Limited (ASX:GTK) has added another Australian energy retailer to its next-generation billing platform weeks before closing the books on a year of heavy investment. On 20 October 2026, the Utility and airport software provider announced that Momentum Energy had contracted to use its g2 billing solution following a competitive evaluation.

The win arrives ahead of full-year results for the 12 months to 30 September 2026, which Gentrack plans to release on 23 November 2026.

Momentum Joins the g2 Customer Base

Momentum Energy, which serves more than 200,000 residential and business meter points across Australia, will use g2 to simplify its technology landscape and reduce its cost to serve. Gentrack said Momentum chose the platform for its delivery record in the Australian energy market, its regulatory compliance model and its integration with Salesforce. Contract value, term and go-live timing were not disclosed.

Momentum's interim chief executive, Danny Moore, described the deal as a significant Investment in the retailer's future. Gentrack Chief Executive Gary Miles pointed to the company's transformation track record and said the two businesses shared similar ambitions. The g2 platform is built with partners Salesforce and AWS, and more than 60 energy and water companies use Gentrack products.

A Reset Year Focused on Recurring Revenue

In early May 2026, Gentrack lowered its FY26 outlook, guiding to revenue of NZ$229–238 million and EBITDA, excluding acquisition costs, of NZ$13.5–20 million. Recurring revenue is expected to grow more than 10% to about NZ$174 million, while non-recurring revenue is expected to fall below FY25 levels. Management attributed the lower near-term Earnings to continued investment in international expansion and product development, and to a g2 business model that favours recurring revenue and lower onboarding costs.

Results for the six months to 31 March 2026 reflected that shift. Revenue slipped to NZ$110.1 million from NZ$112.0 million, but recurring revenue rose 12% to NZ$85.3 million. EBITDA before acquisition costs fell to NZ$7.9 million from NZ$13.0 million, mainly because of project delays and investment in the Utilities business. Cash stood at NZ$73.2 million at 31 March 2026, with no external debt.

Acquisitions and Airport Growth

Gentrack expanded its platform through two acquisitions in the first half of calendar 2026. It acquired Factor to add forecasting and pricing capability for energy retailers within g2, and its airport software business Veovo agreed to buy Dubai Technology Partners, with settlement completed in June 2026. Veovo's revenue rose 3% to NZ$19.8 million in the first half, with recurring revenue up 33%, and its passenger flow technology is live across 15 Saudi Arabian airports.

Upcoming Milestones

The FY26 results webcast is scheduled for 10:30am NZT on 23 November 2026. Gentrack has reaffirmed medium-term targets of compound annual revenue growth above 15% and an EBITDA Margin of 15–20% after expensing all development costs. In May, the board also flagged an intended on-market buyback of up to NZ$20 million, subject to market conditions. In the UK, Pennon Water Services is due to go live on g2 early in FY27. Shares were priced at A$3.37 on 2 November 2026, up 0.6% on the day, giving a Market Capitalisation of A$379.03 million.