Key Highlights

  • Cosol shares traded up 13.33% at $0.170 during the 11 November 2026 trading session.
  • The company reported underlying EBITDA of just under $10 million for FY26, with second-half EBITDA of $6.3 million.
  • Its managing director stepped down, with the chief operating officer and CFO appointed interim CEO.

Cosol Ltd (ASX:COS) shares were trading at $0.170 during the session on 11 November 2026, up 13.33% by late morning. The S&P/ASX 200 (ASX:XJO) was down about 0.06% at 9,123.90 at 12:19 pm. Cosol is a Brisbane-based provider of data, digital and industrial consulting services. On 19 August 2026, the company announced its FY26 results. The share move on 11 November did not come on the same day as that update.

 

FY26 Results and Profitability

In its FY26 result, released on 19 August 2026, Cosol reported underlying EBITDA of just under $10 million for the full year, with second-half EBITDA of $6.3 million compared with $3.4 million in the first half. The company said operating margins improved to 31.2% from 28.8% over the half, which it linked to a reset of its operating cost base. Revenue for the year was $98.6 million, down 15.6%.

 

Goodwill Impairment

The company recorded a Goodwill Impairment of $6.5 million, relating to its asset management services Business at $4.5 million and its Australian consulting business at $2.5 million. Cosol said the period included a number of disappointing reporting periods that were unacceptable to the board and management, and that further operational changes had been introduced as a result.

 

Leadership Changes

Managing director and chief executive Scott McGowan stepped down after ten years in the role and moved into a new position as executive director of strategy and solutions. Chief operating officer and CFO Anthony Stokes was appointed interim CEO while the board searches for a permanent appointment. The chairman has also assumed an executive role during the transition.

 

New Contracts

Cosol said it had secured major contracts in data and digital consulting, and two mass transportation projects in Australia and Canada. The company said these longer-term, higher-margin contracts show its strategy of using artificial intelligence and industrial mathematics is gaining market traction, and it expects revenue to grow in FY27.

 

Sector Context

Consulting and technology services companies in Australia are working through a period of changing client spending, with Demand often shaped by government and infrastructure budgets and by the adoption of artificial intelligence tools. Small listed consultancies can see large swings in Earnings when contracts are delayed or when projects are reshaped.

 

Key Risks

Cosol’s full-year revenue declined, and the company recorded a substantial impairment charge. The Leadership transition adds execution risk while a permanent CEO is sought, and the company has said revenue growth in FY27 depends on converting recently secured contracts into revenue. Project timing in its transportation and digital work could also affect earnings in the period ahead.

 

What to Watch Ahead

Investors will be looking for the appointment of a permanent chief executive, progress on the new data and digital contracts, and whether the company can sustain the second-half margin improvement. The next half-year result will be the first major test of the revenue growth the company has outlined.

 

Final Word

Cosol’s share price move on 11 November 2026 comes after a period of restructuring and leadership change. The company’s ability to convert its new contracts into revenue growth will shape the next stage of its turnaround.