Gentrack Group Ltd (NZX/ASX: GTK) has released its half-year results for the period ended 31 March 2026, reporting group revenue of $110.1 million, a decrease from $112.0 million in the prior corresponding period. Recurring revenue, however, increased to $85.3 million from $76.4 million. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA), excluding acquisition costs, stood at $7.9 million, down from $13.0 million, while statutory Net Profit After Tax (NPAT) was $5.1 million. The company maintained a cash position of $73.2 million. Gentrack Group Ltd is a leading provider of software solutions for utilities and airports, partnering with energy and water companies globally to modernise their IT landscape and serving the airport sector through its Veovo business.
The Utilities business experienced new customer opportunity delays, impacting first-half results, though it achieved go-lives with Genesis Energy and ACEN Energy, and signed Pennon Water Services as its first g2 water customer in the UK. In contrast, the Veovo segment delivered an exceptional first half, securing new customers including NavCanada and a major Tier-1 Asian airport, and expanding its footprint with deployments across Saudi Arabian airports and at Melbourne. Gentrack also announced two bolt-on acquisitions in May 2026, outside the reported half-year: DTP to enhance Veovo’s AI-centric technology and Middle East presence, and Factor for g2’s energy forecasting and pricing capabilities.
Gentrack maintains a robust balance sheet with no external debt, utilising cash reserves for these strategic acquisitions. The Board has opted against an interim dividend for this year but announced its intention to undertake a share buyback of up to $20 million, subject to market conditions. For FY26, Gentrack forecasts revenue between $229 million and $238 million, with recurring revenues projected to grow over 10% to approximately $174 million. EBITDA, excluding acquisition costs, is expected to range from $13.5 million to $20 million, reinforcing confidence in its medium-term growth target of more than 15% CAGR.
