Key Highlights

  • Orcoda shares were down 13.85% at $0.056 during the 22 October 2026 session, while the S&P/ASX 200 was down 0.44%.
  • Its 21 October 2026 quarterly update reported unaudited Q1 FY27 group Revenue of $6.2 million, up 63% on the previous quarter.
  • Group cash at bank was $1.58 million, down 6% from $1.68 million in the previous quarter.

During the Trading session on 22 October 2026, shares in Orcoda Limited (ASX:ODA) were down 13.85% at $0.056, while the S&P/ASX 200 stood at 8,792.20, down 0.44%, and the All Ordinaries stood at 8,916.20, down 0.45%. Orcoda describes itself as a provider of AI-powered transport technology solutions. In its quarterly update dated 21 October 2026, the company reported unaudited first-quarter FY27 group revenue of $6.2 million, annual Recurring Revenue of circa $14.7 million and group cash at bank of $1.58 million.

About the Company

Orcoda Limited is listed on the Australian Securities Exchange under the code ODA and is based at 11/8 Navigator Place, Hendra, Queensland. The company describes itself as a provider of integrated smart technology solutions in transport logistics, workforce logistics and transport infrastructure. Its stated clients include some of Australia's largest companies in transport logistics, healthcare transport, infrastructure and resources. Geoff Jamieson is Managing Director and Brendan Mason is Chairman, and the two were named as presenters of a webcast on the update.

Business Overview

Orcoda reports through two divisions. The Transport and Logistics Division, which includes Future Fleet, supplies technology platforms to customers and is where annual recurring revenue is added. The Resource and Infrastructure Division includes The Betta Group, abbreviated as TBG. The company's stated aim is to optimise client operations by improving efficiency, connectivity and compliance, and its long-term vision is to be a leading transport technology solutions provider for the smart transport corridors of the future. It said its development and customer success teams are Australian-based.

First-Quarter FY27 Financial Metrics

In its quarterly update dated 21 October 2026, Orcoda reported group revenue of $6.2 million (unaudited) for the first quarter of FY27, up 63% on the previous quarter's $3.8 million. Annual recurring revenue, or ARR, was reported at circa $14.7 million. Group cash receipts from customers were $4.8 million, up 5% on $4.6 million in the previous quarter.

Group cash at bank for the quarter was $1.58 million, down 6% from $1.68 million in the previous quarter. Payments to related parties, covering Chair and Executive Director fees, were $151,000, down 28% from $210,000 in the previous quarter.

Division Performance and Customer Base

The company said the Transport and Logistics Division, including Future Fleet, continued to add multiple customers to its technology platforms, increasing ARR and building a pipeline of future customers. The Resource and Infrastructure Division increased revenue by 154% to $4.45 million (unaudited) in the first quarter of FY27, from $1.75 million in the last quarter of FY26.

Orcoda said TBG had been the cause of the decrease in consolidated revenue over the last two years, and that the team had worked to reduce its reliance on one major customer and develop a less concentrated customer base. The update added that the Wagner contract continues to perform, as announced in an ASX release dated 8 October 2026.

Related Sector Context

Transport and logistics technology covers software platforms used to manage fleets, workforces and compliance, and companies in the field often report annual recurring revenue alongside total revenue to distinguish subscription-type income from project-based work. Resources and infrastructure services, by contrast, can vary with contract timing and customer activity. The broader market was lower during the 22 October 2026 session, with the S&P/ASX 200 down 0.44% and the All Ordinaries down 0.45%, while Orcoda's 13.85% decline was considerably larger than either benchmark.

Risks to Weigh In

The revenue figures in the update are unaudited. The company's own commentary linked its multi-year decline in consolidated revenue to TBG's reliance on one major customer, and the company said it has since developed a less concentrated customer base. Group cash at bank of $1.58 million was lower than in the previous quarter, and cash receipts of $4.8 million were reported alongside payments that the update did not itemise. Revenue in the Resource and Infrastructure Division rose from a base of $1.75 million, so quarterly comparisons depend on the periods chosen, and contract continuity, including the Wagner contract, remains relevant to future results.

Catalysts on Watch

The update referred to a webcast on the first-quarter FY27 results, which was scheduled for Wednesday 21 October at 4 pm AEDT, to be presented by the Chairman and Managing Director, with questions submitted through a registration link. The company also pointed to continuing customer additions across its technology platforms and to the performance of the Wagner contract. Further quarterly updates and audited financial reports would provide more detail on revenue, ARR and cash movements.

Putting It Together

Orcoda's shares were down 13.85% at $0.056 during the 22 October 2026 session, compared with a 0.44% decline in the S&P/ASX 200. The quarterly update dated 21 October 2026 reported unaudited group revenue of $6.2 million, ARR of circa $14.7 million, cash receipts of $4.8 million and cash at bank of $1.58 million.