Objective Corporation (ASX:OCL): What Do FY26 Results Reveal About Recurring Revenue and Planning Software?

Aditi Sarkar

27 October 2026 10:21 PM AEDT

Objective Corporation (ASX:OCL): What Do FY26 Results Reveal About Recurring Revenue and Planning Software?

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Highlights

Objective Corporation (ASX:OCL) reported FY26 revenue of AUD 134.7mn, up 9% YoY.
Adjusted EBITDA increased 11% YoY to AUD 51.5mn and statutory NPAT rose 5% to AUD 37.2mn.
Closing annualised recurring revenue declined 2% YoY to AUD 117.3mn.
Planning & Building revenue grew 41% to AUD 18.5mn; FY26 R&D investment reached AUD 33.8mn.

Objective Corporation (ASX:OCL) develops information-governance, regulatory and planning software for government and regulated organisations. Its FY26 results showed increased revenue and earnings alongside a decline in annualised recurring revenue (ARR), making the mix of subscription contracts an important feature of its latest financial disclosures. During 2026, the Sydney-headquartered company also expanded its planning technology portfolio, including an Australian launch of Objective Build and a subsequent update to its Isoplan software.

Company Business

Objective Corporation (ASX:OCL) supplies software designed to control records, manage sensitive information, support statutory decision-making and digitise regulatory processes. Its Information Intelligence products cover content and records management, secure collaboration and the preparation of regulated documents. Planning & Building tools support development assessment, building consent workflows and spatial planning. Regulatory Solutions products help agencies administer registrations, licensing, compliance and enforcement activity.

Customers are concentrated in government and other regulated sectors. For FY26, the company reported revenue of AUD 103.1mn from Australia, AUD 16.3mn from the United Kingdom and AUD 14.3mn from New Zealand, with the balance generated elsewhere. This mix links operating performance to public-sector procurement, implementation schedules, subscription renewals and jurisdiction-specific requirements.

Recent Development

Objective Corporation (ASX:OCL) reported its FY26 results for the year ended 30 June 2026 in August. Planning & Building revenue rose as the company integrated Isovist, acquired at the beginning of the financial year, and advanced digital planning products. Objective Build was released in Australia in April 2026, with North Sydney Council identified as its first Australian customer. In New Zealand, the company reported 35 live Objective Build customers at year-end and seven further projects approaching deployment.

In September 2026, the company launched Isoplan Professional, combining strategic planning and ePlan management functions with AI-enabled guidance. The release followed its investment in planning software and addressed how councils maintain and communicate planning information. Product launches are operational milestones rather than confirmed evidence of future revenue, and adoption will depend on customer procurement and implementation.

The company also described continuing development of its Information Intelligence and Regulatory Solutions offerings. Objective Keystone gained additional use within existing financial-services customer sites, while work on Objective RegWorks included product development and international market engagement. These initiatives broaden product functionality but carry associated sales, development and delivery costs.

Financial Performance and Sector Context

Objective Corporation (ASX:OCL) generated FY26 revenue of AUD 134.7mn, compared with AUD 123.5mn in FY25, representing 9% YoY growth. Adjusted EBITDA, a company-defined non-IFRS measure, increased 11% to AUD 51.5mn from AUD 46.5mn. Statutory net profit after tax increased 5% to AUD 37.2mn from AUD 35.4mn. Operating cash flow reached AUD 49.3mn, compared with AUD 46.3mn in the previous year.

ARR declined to AUD 117.3mn from AUD 120.2mn, despite subscription contracts accounting for all software revenue and recurring revenue representing 87% of revenue from customers. Information Intelligence ARR declined 5% to approximately AUD 81.0mn; Planning & Building ARR rose 3% to AUD 18.7mn; and Regulatory Solutions ARR increased 4% to AUD 17.6mn. These changes show why reported revenue growth and the year-end contracted recurring revenue measure require separate examination.

Planning & Building revenue increased 41% YoY to AUD 18.5mn, Information Intelligence revenue rose 5% to AUD 87.9mn and Regulatory Solutions revenue increased 7% to AUD 25.3mn. R&D investment rose 8% to AUD 33.8mn, including AUD 17.4mn of capitalised development expenditure. Closing cash was AUD 92.7mn, down from AUD 99.2mn, after acquisition payments, dividends and buybacks. The group reported no external borrowings.

Risks to Consider

Objective Corporation (ASX:OCL) faces risks from public-sector purchasing cycles, delayed software implementations, customer renewal decisions and competitive procurement. The decline in Information Intelligence ARR demonstrates that recurring contracts can contract even as total revenue grows. Development expenditure, international expansion and acquired-product integration may affect cash generation. Regulatory changes and customers’ information-security obligations can also require continued product investment.

What to Watch Next

Investors following Objective Corporation (ASX:OCL) can monitor FY27 recurring revenue, particularly the Information Intelligence portfolio and the effects of contract changes within Regulatory Solutions. Other developments include deployment of Objective Build, adoption of Isoplan Professional, expansion of RegWorks and the split between expensed and capitalised R&D. The next financial report can also clarify cash conversion, subscription renewals and operating-cost trends.

Key Insights

Objective Corporation (ASX:OCL) reported FY26 growth in revenue, adjusted EBITDA and statutory profit, while its year-end ARR decreased. Planning & Building delivered the largest reported revenue increase among the product groups, supported by portfolio expansion and software deployment activity. Future disclosures will be relevant for assessing whether new products and customer implementations translate into recurring contracts while the company maintains its development investment.

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