Imdex's Record Growth
Imdex Achieves Record FY26 Revenue, Strong Earnings Growth Fueled by Technology and Sustainability
Key Points
Platform revenue, comprising connected sensors, software and platform advisory solutions, represented 47% of IMDEX's total revenue in FY26, while the Drill Site Technologies division reached $501 million (up 19%), and Digital Earth Knowledge generated $19 million in revenue, an 85% year-on-year increase.
IMDEX reported that FY26 revenue grew 23% on a constant-currency basis, including 17% organic growth, while it said underlying global exploration activity rose about 8% year over year.
IMDEX published its FY26 Sustainability Report with governance enhancements, including a dedicated sustainability committee and management processes to track performance against material ESG topics, and published performance data tables to increase transparency; targets cover procurement, cybersecurity and ethical AI use, along with climate adaptation and circular economy initiatives.
The company disclosed that it spent about $43 million on research and development in FY26 to accelerate technology and platform capabilities.
Normalised operating cash flow reached $135 million, with cash conversion at 83% in FY26.
Mining technology company Imdex posted record results for FY26, with revenue climbing 21% to AUD $520 million, according to Kalkine. Normalised EBITDA rose 29% to $163 million, pushing the margin to 31% — a sign the business is not just growing but becoming more profitable as it scales.
The strong numbers come despite Imdex shares falling 7.5% on the day of the announcement to AUD $3.56, Kalkine reported. Over the past year, the stock is still up about 5%.
Drill Sites and Software Drive Record Revenue
Imdex's core Drill Site Technologies division brought in $501 million, up 19% from last year, Kalkine reported. That division is the engine of the business. It supplies sensors, tools, and data services to mining companies drilling for new ore deposits around the world.
The fastest-growing part of the business was Digital Earth Knowledge, a software and analytics unit. Its revenue surged 85% year on year to $19 million, Kalkine noted. Platform revenue — which bundles connected sensors, software, and advisory services — now makes up 47% of total company revenue. That shift toward software matters because software tends to carry higher margins than hardware.
Five Acquisitions and $43 Million in R&D Fuel Expansion
Imdex completed five acquisitions during FY26 to speed up its growth. The company also spent about $43 million on research and development, according to Kalkine. That R&D investment is focused on building out its technology platform and adding new digital capabilities.
Revenue grew 23% on a constant-currency basis, including 17% organic growth, Kalkine reported. That means the company was growing fast even before counting the boost from acquisitions. For context, underlying global exploration activity — the market Imdex sells into — only rose about 8% over the same period. Imdex grew at more than twice that rate.
Profits Rise and Cash Keeps Flowing
Normalised net profit after tax climbed 37%, while net income reached AUD $79.44 million for the full year ended June 30, 2026, according to Market Screener. Those profit gains outpaced revenue growth, which shows the company is getting more efficient as it gets bigger.
Normalised operating cash flow hit $135 million, with a cash conversion rate of 83%, Kalkine reported. Cash conversion measures how much of a company's profit turns into actual cash. At 83%, Imdex is collecting most of what it earns. Management pointed to favourable exploration market conditions and expanding digital solutions as key supports for a positive FY27 outlook.
New Sustainability Targets Cover AI, Cybersecurity, and Climate
Alongside its financial results, Imdex published its FY26 Sustainability Report. The report outlines new targets covering procurement, cybersecurity, and ethical AI use, according to TipRanks. Imdex also set up a dedicated sustainability committee and published detailed performance data to give investors more transparency.
The report also covers climate adaptation and circular economy initiatives, TipRanks noted. For a mining technology company operating across dozens of countries, these governance steps matter to large institutional investors who screen companies on ESG criteria. Imdex is clearly trying to strengthen that part of its story alongside its financial results.
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