Highlights

  • Orcoda's Q1 FY27 group Revenue rose 63% on the previous quarter to an unaudited A$6.2 million.
  • Annual Recurring Revenue reached about A$14.7 million, compared with A$6.2 million reported for FY26.
  • Cash at bank was A$1.58 million at quarter end, while customer receipts rose 5% to A$4.8 million.
  • The Wagner workforce logistics contract at Wellcamp began on 1 July 2026, estimated at about A$8 million annually.

Orcoda (ASX:ODA) has opened FY27 with a sharp step-up in revenue, reporting unaudited group revenue of A$6.2 million for the September 2026 quarter, up 63% on the June quarter, during the first quarter of a new workforce logistics contract with Wagner Corporation. The quarterly update, released on 21 October 2026, arrived amid changes to the company's Leadership and board.

Orcoda describes itself as a software-led technology company whose 360 platforms help organisations deploy people and fleets. Its offerings include Transport360 for routing and dispatch, Contractor360 for workforce mobilisation, Future Fleet telematics, and TBG, an electrical infrastructure contractor in Queensland.

Revenue Steps Up in the September Quarter

Revenue in the Resource and Infrastructure division, which includes TBG, rose 154% to an unaudited A$4.45 million from A$1.75 million in the June quarter. Annual recurring revenue reached about A$14.7 million. Customer receipts increased 5% to A$4.8 million, while cash at bank eased 6% to A$1.58 million.

The Transport and Logistics division, including Future Fleet, added multiple customers, and TBG reduced its reliance on a single major client. The Wagner agreement, signed on 19 June 2026 and anchored by Contractor360, runs for three years and is estimated at about A$8 million a year, subject to actual workforce occupancy. The company said it was continuing to perform well.

FY26 Results Set a Lower Base

For FY26 to 30 June 2026, revenue and other income fell 3% to about A$16.57 million, while the loss after tax improved to A$1.84 million from A$2.50 million. The underlying EBITDA loss narrowed to about A$376,000, and Operating Activities generated a net inflow of A$275,637 after an outflow in FY25.

The Board linked the FY26 loss mainly to a delayed works programme at a major customer. Directors considered the Going Concern basis appropriate, citing forecast operating inflows and about A$1.95 million in unused facilities.

Leadership and Board Reshaped

In September, Orcoda said Managing Director and Chief Executive Patrick Bodegraven would not renew his contract, which ends on 15 November 2026, and that Workforce Logistics General Manager Mark Austin would leave on 30 November. The October quarterly update named Geoff Jamieson, previously Executive Director and Chief Financial Officer, as Managing Director.

The Board also appointed Peter Arkell as a non-executive director from 8 October 2026. The company expects his Mining and resources experience to support its market reach and recurring revenue products.

Outlook: Building on the Acceleration Year

Management has framed FY27 as an acceleration year focused on scaling platform deployment, converting a pipeline centred on healthcare, mining and government, and expanding margins as recurring revenue grows. Mr Jamieson said the company was confident of expanding its footprint in Australia and globally, although no quantitative guidance was provided. The Annual General Meeting notice was issued in late October.

Shares were priced at A$0.058 on 2 November 2026, down 1.7% on the day and 18.31% lower over 12 months.