Key Highlights
- Revenue was A$7.0m compared with A$8.1m in Q1 FY26.
- Net profit after tax was A$0.7m compared with A$1.2m.
- Adjusted EBITDA was A$1.8m and free cash flow A$0.7m.
- Product development investment rose to A$0.8m from A$0.3m.
Structural Monitoring Systems Plc (ASX:SMN) released its quarterly activities report on 26 October 2026 for the period ended 30 September 2026, the first quarter of FY27, reporting continued profitability with lower revenue and higher development spending.
Financial results
Revenue was A$7.0 million (C$6.9 million), compared with A$8.1 million (C$7.3 million) in Q1 FY26, which included $1.4 million carried over from June 2025 because of a customs delay. Net profit after tax was A$0.7 million against A$1.2 million, adjusted EBITDA A$1.8 million against A$2.1 million, and free cash flow A$0.7 million against A$1.6 million. A 9% fall in the Canadian dollar against the Australian dollar reduced reported results from Canadian operations.
Investment and cash
Group cash at bank was A$5.2 million, compared with A$4.8 million at 30 June 2026. Product development investment was A$0.8 million, up from A$0.3 million, as the group increased spending on two avionics development programs.
Development timetable
Both avionics programs remain on schedule, with product introductions targeted for late FY27 and early FY28, subject to development progress and certification. The group said its focus is on growing avionics sales, maintaining operating margins and managing cash.
Why This Could Matter
The comparison with Q1 FY26 is affected by the carried-over $1.4 million and by currency movement, so the year-on-year decline reflects those items as well as underlying activity. Higher development spending reduces near-term earnings while product launches depend on certification.
Final Thoughts
Structural Monitoring Systems (ASX:SMN) reported a profitable first quarter of FY27 with A$7.0 million of revenue and A$5.2 million of cash.






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