Stonegate Capital Partners Updates Coverage on Electro Optics Systems Holdings Ltd 4Q 2025

Electro Optics Systems Holdings Ltd (ASX: EOS): Stonegate Capital Partners Updates Coverage on Electro Optics Systems Holdings Ltd (ASX: EOS). EOS reported FY25 revenue, gross margin, and EBITDA of $126.3M, 63%, and $(24.4M), respectively, with the revenue decline driven by the EM Solutions divestment and order timing shifting later in FY25, expected to convert into FY26. EOS ended the year with $106.9M of cash and strong order momentum with 18 contracts signed worth ~$420M and an unconditional order book of ~$459M (ex-Korea), supporting a higher delivery cadence through FY26-FY28 as mix shifts toward higher-value RWScounter-droneHELW and manufacturing scales.

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Key Takeaways:

• Backlog inflection: A$459M order book; 40-50% targeted conversion in FY26; FY26-FY28 ramp.
• Visibility + HELW: Signed 18 contracts (~A$420M), ~A$459M order book; 71M Dutch 100kW deal.
• MARSS upside: Adds NiDAR C2/interceptor drones; pipeline excluded from metrics; hidden growth optionality.

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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285185