Intelligent Monitoring Group (IMB) H1 2026 earnings summary

Executive summary

• Underlying EBITDA for the half was AUD 19.2 million, up 9.7% year-over-year, with a 20% margin and strong organic growth in Australia (+8.3%), offsetting a weak first half in New Zealand.

• Revenue rose to $98.0M for the half-year ended 31 Dec 2025, up 21% year-over-year, driven by organic growth and contributions from recent acquisitions.

• Net loss after tax narrowed to $2.43M from $9.07M in the prior year period, reflecting improved operational performance and lower finance costs.

• Acquisitions of BNP, Western Advance, and pending Tyco New Zealand (Wormald/BlueSky Holdco) are contributing to growth and scale, with Tyco NZ expected to add significant commercial reach.

• Business model is defensive, cash-generative, and focused on recurring monitoring and service revenue.

Financial highlights

• Revenue for 1H26 was $98.0m, up from $80.8m in 1H25.

• Underlying EBITDA: AUD 19.2 million for the half, up 9.7% year-over-year, with margin at 20%.

• Profit before abnormal costs and amortization: AUD 10.6 million, up 36% year-over-year.

• Reported EBITDA: AUD 14.7 million, with AUD 4.6 million in abnormal costs (acquisition, share-based payments, impairment of receivables).

• Net loss after tax narrowed to $2.43M from $9.07M year-over-year.

Outlook and guidance

• On track to deliver pro forma EPS greater than AUD 0.062 per share, with Tyco NZ expected to contribute AUD 10 million EBITDA post-settlement.

• Full-year underlying EBITDA guidance: AUD 43–47 million, pro forma with Tyco NZ: AUD 53–57 million.

• NPAT guidance: AUD 26–29 million, pro forma EPS: AUD 0.062–0.07.

• Directors expect continued positive EBITDA and sufficient operating cash flow, with plans to raise additional funds if required.

• Expecting organic growth to accelerate, especially as video monitoring (ADT Guard) gains traction.