Half Year 2026 Rakon Ltd Earnings Call Transcript
Key Points
- Rakon Ltd (NZSE:RAK) reported a 30% increase in revenue and an 11% uplift in gross margin for the first half of FY26.
- The company's underlying EBITDA increased by 149%, showcasing significant operational improvements.
- Aerospace and defense segment achieved its fifth consecutive growth period with a record $75 million order backlog.
- AI and data centers business grew by 50%, indicating strong potential for future contributions to revenue.
- The company successfully maintained flat operating expenses while scaling production, demonstrating effective cost management.
- Despite improvements, Rakon Ltd (NZSE:RAK) still reported a net loss after tax, although it has narrowed year on year.
- The company faces challenges in scaling production to meet demand, particularly in aerospace and defense.
- R&D spending is constrained compared to competitors with significantly larger budgets, potentially impacting long-term innovation.
- The impact of US tariffs remains a fluid situation, although currently minimal, it poses a potential risk.
- The company is in a challenging environment with simultaneous ramp-ups in new space and AI hardware, which could strain resources.
Welcome, everyone, to Rakon's half year '26 results and business update. (Operator Instructions). I must advise that this presentation is being recorded today. Friday, the November 28, 2025. I would now like to hand over to Rakon's Investment Relations Manager, Nick Laurent.
Thank you, and please go ahead.
Kia ora and good morning. Welcome to Ragon's half-year 2026 financial results and business update. Presenting today are Ragon's chief executive, Sunan Otu, and Chief Financial Officer, Mark Dunwoodie. There will be an opportunity to ask questions after the presentations. In a moment, I will hand over to Sunan and Mark to present the update, but first, a short reminder that during this presentation, we will make forward-looking statements about Rayon Limited. And the environment in which the company operates. Because these statements are forward-looking, Rayon Limited's actual results could differ materially. I encourage you to read the disclaimer slide and the important notice slide end of the
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