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OMS Energy (NASDAQ: OMSE) balances lower FY 2026 revenue with $154M cash

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

OMS Energy Technologies Inc. reported fiscal year 2026 revenue of $155.9 million, down from $203.6 million a year earlier, mainly due to timing of Saudi Aramco Call-off Orders after an unusually strong prior year. Despite lower sales, OMS remained profitable with net profit of $33.9 million and operating profit of $34.9 million, though both declined year over year and gross margin eased to 30.3% from 33.9%.

Cash generation was a standout. Net cash from operating activities rose to $54.1 million and adjusted free cash flow reached $52.5 million. Including IPO proceeds, cash and restricted cash increased to $154.3 million as of March 31, 2026, and the company ended the year debt-free. Backlog fell to $60.7 million from $102.0 million, reflecting order timing rather than a stated shift in demand.

Management highlighted progress in geographic diversification, with specialty connector and pipe revenue outside Saudi Arabia rising to $4.6 million, increased surface wellhead and Christmas tree equipment sales, and new certifications in Saudi Arabia and Indonesia that broaden OMS’s product and service offering across the Middle East and Southeast Asia.

Positive

  • Operating cash flow increased to $54.1 million and adjusted free cash flow to $52.5 million, significantly strengthening liquidity versus the prior year.
  • Cash and restricted cash rose to $154.3 million as of March 31, 2026 and the company is debt-free, providing substantial financial flexibility.
  • Specialty connector and pipe revenue outside Saudi Arabia grew to $4.6 million, a 130% increase, demonstrating accelerating geographic diversification.

Negative

  • Total revenue declined from $203.6 million to $155.9 million, a material year-over-year decrease tied to Saudi Aramco Call-off Order timing.
  • Net profit fell from $47.0 million to $33.9 million, and gross margin compressed from 33.9% to 30.3%, indicating weaker overall profitability.
  • Backlog decreased from $102.0 million to $60.7 million, reducing near-term revenue visibility even though management attributes this to order timing.

Insights

Results show softer revenue and earnings but much stronger cash and balance sheet.

OMS Energy saw revenue fall from $203.6M to $155.9M as Saudi Aramco Call-off Orders normalized after a very strong prior year. Operating profit and net profit also declined, and gross margin compressed from 33.9% to 30.3%, indicating some pressure on profitability.

At the same time, cash generation and the balance sheet improved markedly. Operating cash flow increased to $54.1M, adjusted free cash flow rose to $52.5M, and cash plus restricted cash reached $154.3M with no debt. This provides notable financial flexibility for expansion despite a backlog drop from $102.0M to $60.7M, which management links to order timing.

The company is pushing geographic and product diversification, with specialty connector revenue outside Saudi Arabia growing to $4.6M and new certified offerings in Saudi Arabia and Indonesia. The overall picture is mixed: lower near-term growth metrics, offset by strong liquidity and broader market access, so the net impact on the long-term investment view appears balanced based on these figures alone.

Revenue $155.9 million Fiscal year ended March 31, 2026; down from $203.6 million in 2025
Net profit $33.9 million Fiscal year ended March 31, 2026; compared with $47.0 million in 2025
Gross margin 30.3% Fiscal year 2026; previously 33.9% in fiscal 2025
Operating cash flow $54.1 million Net cash provided by operating activities in fiscal 2026
Adjusted free cash flow $52.5 million Fiscal year 2026 non-IFRS Adjusted Free Cash Flow
Cash and restricted cash $154.3 million As of March 31, 2026; includes IPO proceeds and operating cash flow
Backlog $60.7 million Estimated revenue from confirmed orders as of March 31, 2026
Adjusted EBITDA $41.2 million Fiscal year 2026 Adjusted EBITDA with 26.4% margin
Call-off Order financial
"received a US$11 million “Call-off Order” for specialty connectors and pipes"
backlog financial
"As of March 31, 2026, the Company’s backlog was $60.7 million"
A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
Adjusted EBITDA financial
"Adjusted EBITDA was $41.2 million and adjusted EBITDA margin was 26.4%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Adjusted Free Cash Flow financial
"Adjusted free cash flow was $52.5 million for fiscal year 2026"
Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.
non-IFRS financial measures financial
"This document includes references to non-IFRS financial measures"
Non-IFRS financial measures are company-reported numbers that modify or exclude items from standard accounting results so management can highlight what it sees as underlying business performance—common examples are adjusted EBITDA or adjusted earnings per share. They matter to investors because they can make trends clearer by removing unusual or noncash items, like cleaning lens smudges off a camera, but they require scrutiny since companies decide what to exclude and comparisons across firms may not be uniform.
API Specification 6A technical
"OMS Saudi earned API Specification 6A certification"
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Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-42638

OMS Energy Technologies Inc.

(Exact name of registrant as specified in its charter)

10 Gul Circle
Singapore 629566

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F Form 40-F


INFORMATION CONTAINED IN THIS FORM 6-K REPORT

On June 25, 2026, OMS Energy Technologies Inc. (the “Company”) issued a press release dated June 25, 2026, announcing its financial results for the full year ended March 31, 2026.

 

A copy of the press release is furnished as Exhibit 99.1 to this report on Form 6-K.

 

 

Exhibits

Exhibit No.

Description

99.1

 

Press Release dated June 25, 2026 titled: OMS Energy Technologies Inc. Announces Fiscal Year 2026 Financial Results

 

 

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

OMS Energy Technologies Inc.

Date: June 25, 2026

By:

/s/ How Meng Hock

How Meng Hock

Chairman, Chief Executive Officer and Executive Director

 

 


Exhibit 99.1

 

OMS Energy Technologies Inc. Announces Fiscal Year 2026 Financial Results

 

Generated Record Operating Cash Flow of $54.1 Million; Maintained Profitability

 

Debt-Free $154.3 Million Cash Position Supports Continued Geographic Expansion

 

SINGAPORE, June 25, 2026 - OMS Energy Technologies Inc. (“OMS” or the “Company”) (NASDAQ: OMSE), a growth-oriented manufacturer of surface wellhead systems (“SWS”) and oil country tubular goods (“OCTG”) for the oil and gas industry, today announced its financial results for the fiscal year ended March 31, 2026. The Company also announced that it has filed its annual report on Form 20-F for the fiscal year ended March 31, 2026 with the U.S. Securities and Exchange Commission.

 

Fiscal Year 2026 Financial Highlights

 

Total revenues were $155.9 million for fiscal year 2026, compared with $203.6 million for fiscal year 2025.
Gross margin was 30.3% for fiscal year 2026, compared with 33.9% for fiscal year 2025.
Operating profit was $34.9 million for fiscal year 2026, compared with $59.9 million for fiscal year 2025.
Adjusted EBITDA was $41.2 million for fiscal year 2026, compared with $64.1 million for fiscal year 2025.
Net cash provided by operating activities was $54.1 million for fiscal year 2026, compared with $40.5 million for fiscal year 2025.
Adjusted free cash flow was $52.5 million for fiscal year 2026, compared with $37.6 million for fiscal year 2025.

 

Recent Business Highlights

 

In March 2026, OMS Saudi received a US$11 million “Call-off Order” for specialty connectors and pipes under the Company's 10-year agreement with Saudi Aramco, signed in 2024. Call-off Orders are purchase orders issued upon customer request under long-term supply contracts with pre-agreed terms that vary by customer. This order represents the continued conversion of the Company’s agreement with Saudi Aramco into active revenue
In March 2026, the Company's subsidiaries in Singapore and Indonesia secured approximately US$2.6 million in surface wellhead system orders and a contract extension from operators in Oman, Pakistan and Indonesia. The orders included OMS's first 10,000-PSI full wellhead and production tree system in Pakistan and a contract extension with Pertamina Hulu Rokan in Indonesia due to demand exceeding the original contract value.
In January 2026, the Company's subsidiaries in Singapore and Indonesia secured approximately US$2.2 million in specialty connector orders from oil and gas operators in the United Arab Emirates, Pakistan and Indonesia, advancing its strategy to diversify specialty connector sales beyond its core Saudi Arabian market.
In January 2026, OMS Saudi earned API Specification 6A certification, enabling the subsidiary to provide repair and maintenance services for wellhead and Christmas tree equipment. Combined with existing API Specifications Q1, 5CT, 5L and 7-1 certifications, this positions OMS Saudi as a supplier of diverse products and services in the Kingdom of Saudi Arabia.
In November 2025, OMS Indonesia obtained API Specification 11D1 certification and expanded its product portfolio with certified, self-developed retrievable mechanical and hydraulic packers, complementing its existing API-6A-certified surface wellheads and Christmas trees.

 

 


Mr. How Meng Hock, Chairman and Chief Executive Officer of OMS, commented, “We delivered a resilient performance in fiscal year 2026 amid a challenging operating environment. While revenue reflected the timing of Call-off Orders under our long-term Saudi Aramco contract against an exceptionally high prior-year comparison, our underlying business remained healthy and profitable. We generated record operating cash flow, ended the year debt-free with $154.3 million in cash and restricted cash, and continued to diversify across new geographies and customers, winning our first surface wellhead and Christmas tree contracts in Pakistan and Angola and earning new certifications that expand our addressable opportunities in the Middle East and Southeast Asia. Together with our strong customer relationships and long-term contracts, these achievements position OMS for sustainable growth as industry activity recovers.”

 

Mr. Kevin Yeo, Chief Financial Officer, added, “Our fiscal 2026 financial results reflect the strength of OMS’s business model and operational discipline. We maintained profitability despite the year-over-year revenue decline, delivering gross margin of 30.3%, operating profit of $34.9 million, and net profit of $33.9 million. Cash generation was a highlight, with record operating cash flow of $54.1 million and adjusted free cash flow of $52.5 million. We ended the fiscal year debt-free with $154.3 million in cash and restricted cash, providing flexibility to support organic growth initiatives, selectively evaluate strategic expansion opportunities, and drive long-term value creation.”

 

Fiscal Year 2026 Financial Results

 

Revenues

Total revenues for fiscal year 2026 were $155.9 million, compared with $203.6 million for fiscal year 2025. This decline was primarily driven by the timing of Call-off Orders under OMS’s long-term supply agreement with Saudi Aramco, set against an unusually high prior-year base, which included the overlap of the conclusion of the Company’s previous Aramco contract with the ramp-up of its new ten-year agreement signed in early 2024.

 

Specialty connectors and pipes. Revenues from sales of specialty connectors and pipes were $96.1 million for fiscal year 2026, compared with $143.1 million for fiscal year 2025. The decrease was mainly driven by the timing of Call-off Orders for specialty connectors and pipes in Saudi Arabia. Excluding Saudi Arabia, revenue from specialty connectors and pipes was $4.6 million for fiscal year 2026, an 130% increase from $2.0 million for fiscal year 2025, primarily contributed by higher export sales to the United Arab Emirates, Pakistan and Indonesia. These orders highlight OMS's accelerating geographic expansion.

 

Surface wellhead and Christmas tree equipment. Revenues from sales of surface wellhead and Christmas tree equipment were $10.9 million for fiscal year 2026, compared with $8.7 million for fiscal year 2025. The increase was largely attributable to stronger demand from a major Indonesian customer. OMS also secured its first surface wellhead and Christmas tree customers in Pakistan and Angola during fiscal year 2026.

 

Premium threading services. Revenues from rendering of premium threading services were $33.4 million for fiscal year 2026, compared with $36.8 million for fiscal year 2025. The decrease was mainly attributable to reduced oil and gas production in Malaysia and Singapore, partially offset by higher activity in Indonesia and Thailand.

 

Other ancillary services. Revenues generated from other ancillary services were $15.5 million for fiscal year 2026, compared with $15.0 million for fiscal year 2025, remaining stable due to consistent demand for repair and inspection services across OMS's primary markets.

 

 


As of March 31, 2026, the Company’s backlog was $60.7 million, compared with $102.0 million as of March 31, 2025. The decrease primarily reflects the timing of Call-off Orders under the Company's long-term Saudi contracts rather than a change in underlying customer demand. Management uses backlog as an operating metric to gauge future revenue visibility and to support planning and resource-allocation decisions. It represents estimated revenue from confirmed customer orders and contracts that have not yet been recognized as revenue and are expected to be delivered within the next 12 months.

 

Cost of revenues

Cost of revenues was $108.7 million for fiscal year 2026, compared with $134.6 million for fiscal year 2025.

 

Gross profit

Gross profit was $47.2 million for fiscal year 2026, compared with $69.0 million for fiscal year 2025. Gross margin was 30.3% for fiscal year 2026, compared with 33.9% for fiscal year 2025. OMS maintained a healthy gross margin despite a lower sales volume, reflecting continued cost discipline, operational efficiency and customer engagement.

 

Selling, general and administrative expenses

Selling, general and administrative expenses, which consist primarily of personnel costs, transportation and logistics, premises-related expenses, legal and professional fees, sales and marketing expenses and risk management-related costs were $12.4 million for fiscal year 2026, compared with $9.1 million for fiscal year 2025. The increase was primarily due to additional post-IPO compliance costs and cybersecurity readiness initiatives.

 

Operating profit

Operating profit was $34.9 million for fiscal year 2026, compared with $59.9 million for fiscal year 2025.

 

Total other income, net

Total other income, net was $0.3 million for fiscal year 2026, compared with $0.2 million for fiscal year 2025, remaining relatively stable.

 

Income Tax Expense

Income tax expense was $4.5 million for fiscal year 2026, compared with $13.2 million for fiscal year 2025. The reported effective tax rate of 11.8% reflected approximately $2.8 million of non-recurring items, including a $2.3 million recovery related to the resolution of a prior-year tax matter in Saudi and a $0.5 million over-provision adjustment in Singapore. Excluding these items, the normalized effective tax rate for fiscal year 2026 would have been approximately 19.1%, broadly in line with the prior-year rate of 21.9%.

 

Net profit

Net profit was $33.9 million for fiscal year 2026, compared with $47.0 million for fiscal year 2025.

 

Basic and diluted EPS

Basic and diluted earnings per share were both $0.77 for fiscal year 2026, compared with both $1.18 for fiscal year 2025.

 

Adjusted EBITDA

Adjusted EBITDA was $41.2 million and adjusted EBITDA margin was 26.4% for fiscal year 2026.

 

 


Balance sheet and cash flow

As of March 31, 2026, the Company’s cash and cash equivalents and restricted cash totaled $154.3 million, compared with $75.8 million as of March 31, 2025, primarily reflecting the inflow from the net IPO proceeds of $28.9 million received in May 2025 and higher net cash provided by operating activities of $54.1 million for fiscal year 2026, compared with net cash provided of $40.5 million for fiscal year 2025.

 

Adjusted free cash flow was $52.5 million for fiscal year 2026, an increase of $14.9 million compared with $37.6 million for fiscal year 2025 driven by improved management of receivables, payables and inventory level, including a $15.4 million reduction in inventory as OMS drew down stockpiles previously built ahead of anticipated Saudi Aramco Call-off Orders. As regional order activity resumes, the Company anticipates rebuilding inventory toward its target range of approximately $20 million to $25 million, which is expected to moderate the working capital contribution to free cash flow in future periods.

 

Annual Report on Form 20-F

The Company’s Annual Report on Form 20-F for the fiscal year ended March 31, 2026 has been filed with the SEC and is available on the Investor Relations section of the Company’s website at ir.omsos.com and on the SEC’s website at www.sec.gov. Shareholders may receive a hard copy of the Company’s complete audited financial statements free of charge upon request.

 

Conference Call

The Company’s management will hold an earnings conference call at 8:00 P.M. U.S. Eastern Time on June 25, 2026, or 8:00 A.M. Singapore Time on June 26, 2026 to discuss the financial results.

 

For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below prior to the scheduled call start time.

 

Participant Online Registration:

https://register-conf.media-server.com/register/BId74ddae27dff4d1cb0684c0bfbdd2a9c

 

Upon registration, each participant will receive details for the conference call, including dial-in numbers, passcode and a unique access PIN. To join the conference, please dial the provided number, enter the passcode followed by your PIN, and you will join the conference.

 

A live webcast of the conference call will also be available on the Company’s investor relations website at ir.omsos.com.

 

About OMS Energy Technologies Inc.

 

OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company’s 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers.

 

For more information, please visit ir.omsos.com.

 

 


Safe Harbor Statement

 

This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

 


Summary of Financial Results

 

Consolidated Statements of Financial Positions

 

For the
year ended
March 31, 2026

 

 

For the
year ended
March 31, 2025

 

 

US$’000

 

 

US$’000

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

 

151,985

 

 

 

72,950

 

Restricted cash, current

 

 

1,977

 

 

 

1,692

 

Trade receivables, net

 

 

18,955

 

 

 

13,467

 

Contract assets

 

 

1,732

 

 

 

983

 

Inventories, net

 

 

17,155

 

 

 

32,546

 

Prepayment and other current assets

 

 

4,441

 

 

 

1,646

 

Amount due from a related party

 

 

1,984

 

 

 

1,584

 

Total Current Assets

 

 

198,229

 

 

 

124,868

 

 

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

 

Restricted cash, non-current

 

 

340

 

 

 

1,189

 

Right-of-use assets, net

 

 

7,111

 

 

 

8,086

 

Property, plant and equipment, net

 

 

28,535

 

 

 

32,055

 

Intangible assets, net

 

 

494

 

 

 

42

 

Deferred tax assets

 

 

2,125

 

 

 

2,938

 

Prepayment and other non-current assets

 

 

306

 

 

 

1,327

 

Total Non-Current Assets

 

 

38,911

 

 

 

45,637

 

Total Assets

 

 

237,140

 

 

 

170,505

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

Trade payables and other liabilities

 

 

27,355

 

 

 

15,070

 

Tax payable

 

 

1,058

 

 

 

8,200

 

Lease liabilities, current

 

 

1,374

 

 

 

1,187

 

Total Current Liabilities

 

 

29,787

 

 

 

24,457

 

 

 

 

 

 

 

 

Non-current Liabilities:

 

 

 

 

 

 

Employee benefits obligation

 

 

1,326

 

 

 

827

 

Lease liabilities, non-current

 

 

5,067

 

 

 

6,096

 

Deferred tax liabilities

 

 

3,496

 

 

 

4,217

 

Provisions

 

 

73

 

 

 

321

 

Total Non-Current Liabilities

 

 

9,962

 

 

 

11,461

 

Total Liabilities

 

 

39,749

 

 

 

35,918

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Share capital

 

 

4

 

 

 

4

 

Share premium

 

 

100,999

 

 

 

72,648

 

Retained earnings

 

 

90,842

 

 

 

58,634

 

Accumulated other comprehensive loss

 

 

(2,202

)

 

 

(2,397

)

Equity attributable to Shareholders of the Company

 

 

189,643

 

 

 

128,889

 

Non-controlling interests

 

 

7,748

 

 

 

5,698

 

Total equity

 

 

197,391

 

 

 

134,587

 

 

 

 

 

 

 

 

Total liabilities and equity

 

 

237,140

 

 

 

170,505

 

 

 


Consolidated Statements of Profit or Loss and Other Comprehensive Income

 

 

For the
year ended
March 31, 2026

 

 

For the
year ended
March 31, 2025

 

 

US$’000

 

 

US$’000

 

Revenue

 

 

155,910

 

 

 

203,607

 

Total revenue

 

 

155,910

 

 

 

203,607

 

 

 

 

 

Cost of revenue

 

 

(108,680

)

 

 

(134,620

)

Total cost of revenue

 

 

(108,680

)

 

 

(134,620

)

 

 

 

 

Gross profit

 

 

47,230

 

 

 

68,987

 

 

 

 

 

Selling, general and administrative expenses

 

 

(12,373

)

 

 

(9,122

)

Operating profit

 

 

34,857

 

 

 

59,865

 

 

 

 

 

Other income, net

 

 

349

 

 

 

246

 

Total other income, net

 

 

349

 

 

 

246

 

 

 

 

 

Finance income – third parties

 

 

3,500

 

 

 

339

 

Finance income – related parties

 

 

93

 

 

 

 

Total finance income

 

 

3,593

 

 

 

339

 

 

 

 

 

Finance cost

 

 

(404

)

 

 

(284

)

Total finance cost

 

 

(404

)

 

 

(284

)

 

 

 

 

Profit before tax

 

 

38,395

 

 

 

60,166

 

Income tax expense

 

 

(4,517

)

 

 

(13,189

)

Net profit

 

 

33,878

 

 

 

46,977

 

 

 

 

 

 

 

Other comprehensive income/(loss):

 

 

 

 

 

 

Items that will not be reclassified to profit or loss

 

 

 

 

 

 

Foreign currency translation differences

 

 

660

 

 

 

2,258

 

Changes resulting from actuarial remeasurement of
   employee benefits obligation

 

 

(85

)

 

 

(2

)

Other comprehensive income, net of tax

 

 

575

 

 

 

2,256

 

Total comprehensive income

 

 

34,453

 

 

 

49,233

 

 

 

 

 

 

 

 

Net profit attributable to:

 

 

 

 

 

 

Shareholders of the Company

 

 

32,208

 

 

 

44,816

 

Non-controlling interests

 

 

1,670

 

 

 

2,161

 

Net profit

 

 

33,878

 

 

 

46,977

 

 

 

 

 

 

 

 

Total comprehensive income attributable to:

 

 

 

 

 

 

Shareholders of the Company

 

 

32,403

 

 

 

46,860

 

Non-controlling interests

 

 

2,050

 

 

 

2,373

 

Total comprehensive income

 

 

34,453

 

 

 

49,233

 

 

 

 

 

 

 

 

Basic and diluted weighted-average shares outstanding

 

 

42,002,230

 

 

 

37,822,500

 

Basic and diluted earnings per share (as adjusted) (US$)

 

 

0.77

 

 

 

1.18

 

 

 


Consolidated Statements of Cash Flows

 

For the
year ended
March 31, 2026

 

 

For the
year ended
March 31, 2025

 

 

US$’000

 

 

US$’000

 

Operating activities

 

 

 

 

 

 

Net profit

 

 

33,878

 

 

 

46,977

 

Adjustments for:

 

 

 

 

 

 

Income tax expenses

 

 

4,517

 

 

 

13,189

 

Depreciation of property, plant and equipment

 

 

4,679

 

 

 

2,711

 

Amortization of intangible assets

 

 

67

 

 

 

84

 

Depreciation of right-of-use assets

 

 

1,620

 

 

 

1,412

 

Loss on disposal of property, plant and equipment

 

 

 

 

 

111

 

(Reversal of)/allowance for inventories obsolescence

 

 

(780

)

 

 

571

 

(Reversal of)/allowance for expected credit losses

 

 

(81

)

 

 

121

 

Finance costs

 

 

404

 

 

 

284

 

Finance income

 

 

(3,593

)

 

 

(339

)

Net gain on fair value changes of financial liabilities at fair value
    through profit or loss

 

 

(413

)

 

 

 

Loss on unrealized foreign exchange

 

 

347

 

 

 

493

 

 

 

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Trade receivables

 

 

(5,407

)

 

 

18,975

 

Contract assets

 

 

(749

)

 

 

764

 

Inventories

 

 

16,165

 

 

 

(2,329

)

Prepayment and other assets

 

 

(2,401

)

 

 

809

 

Trade and other payables

 

 

12,576

 

 

 

(32,239

)

Employee benefits obligation

 

 

516

 

 

 

59

 

 

 

61,345

 

 

 

51,653

 

Cash provided by operations:

 

 

 

 

 

 

Interest received

 

 

3,593

 

 

 

339

 

Income taxes refund

 

 

2,398

 

 

 

 

Income taxes paid

 

 

(13,218

)

 

 

(11,490

)

Net cash provided by operating activities

 

 

54,118

 

 

 

40,502

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

Proceeds from sale of property, plant and equipment

 

 

2

 

 

 

 

Acquisition of property, plant and equipment

 

 

(1,114

)

 

 

(2,863

)

Acquisition of intangible asset

 

 

(523

)

 

 

 

(Loan to)/repayment from related parties

 

 

(400

)

 

 

1

 

Net cash used in investing activities

 

 

(2,035

)

 

 

(2,862

)

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

Proceeds from issuance of ordinary shares

 

 

30,583

 

 

 

 

Payment of offering cost

 

 

(1,731

)

 

 

 

Repayment of loans and borrowings

 

 

 

 

 

(6,504

)

Interest paid

 

 

(404

)

 

 

(253

)

Payment of lease liabilities

 

 

(1,468

)

 

 

(1,302

)

Net cash provided by/(used in) financing activities

 

 

26,980

 

 

 

(8,059

)

Effect of foreign exchange on cash, cash equivalents and restricted cash

 

 

(592

)

 

 

820

 

Net increase in cash, cash equivalents and restricted cash

 

 

78,471

 

 

 

30,401

 

Cash, cash equivalents and restricted cash at beginning of year

 

 

75,831

 

 

 

45,430

 

Cash, cash equivalents and restricted cash at end of year

 

 

154,302

 

 

 

75,831

 

Less: Restricted cash, non-current

 

 

340

 

 

 

1,189

 

Less: Restricted cash, current

 

 

1,977

 

 

 

1,692

 

Cash and cash equivalents at end of year

 

 

151,985

 

 

 

72,950

 

 

 

 


Non-IFRS Financial Measures

 

This document includes references to non-IFRS financial measures, including: Adjusted EBITDA and Adjusted Free Cash Flow. These measures provide meaningful supplemental information regarding OMS's performance by eliminating items that are not central to OMS's core business.

 

However, there are a number of limitations related to the use of non-IFRS financial measures, and as such, the presentation of these non-IFRS financial measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with IFRS. In addition, these non-IFRS financial measures may differ from non-IFRS measures with comparable names used by other companies. See below for additional explanations about the non-IFRS financial measures, including their definitions and a reconciliation of these forward-looking non-IFRS measures to the most directly comparable IFRS financial measures.

 

Explanation of non-IFRS financial measures:

 

Adjusted EBITDA is calculated as net profit for the period adjusted to exclude: (i) income tax expense, (ii) other income, net, (iii) finance income, (iv) finance cost and (v) depreciation and amortization, including lease depreciation. Adjusted EBITDA shows a clearer picture of the earnings generated from the Company's operations by excluding the impact of non-cash items, financing costs and income, taxes and other items not considered indicative of the Company's core operating performance, providing management and investors a clearer metric to evaluate the profitability and cash generation capability of the Company's operations.

 

Reconciliation of Net Profit to Adjusted EBITDA (Non-IFRS)

 

For the years ended,
March 31,

 

 

2026

 

2025

 

 

US$'000

 

US$'000

 

 

 

 

 

 

Net profit

 

33,878

 

 

46,977

 

Income tax expense

 

4,517

 

 

13,189

 

Other income, net

 

(349

)

 

(246

)

Finance income

 

(3,593

)

 

(339

)

Finance cost

 

404

 

 

284

 

 

 

 

 

 

Operating profit

 

34,857

 

 

59,865

 

Depreciation and amortization

 

6,366

 

 

4,207

 

 

 

 

 

 

Adjusted EBITDA (Non-IFRS)

 

41,223

 

 

64,072

 

Adjusted EBITDA margin (Non-IFRS)

 

26.4

%

 

31.5

%

 

 


Explanation of non-IFRS financial measures:

 

Adjusted Free Cash Flow is defined as net cash flows from operating activities less capital expenditures, including acquisition of property, plant and equipment and acquisition of intangible assets, plus proceeds from sale of property, plant and equipment. This measure assesses the Company's capital efficiency by deducting the cash required to purchase, replace and upgrade the machineries, equipment and systems required to keep the production lines running.

 

Adjusted Free Cash Flow Reconciliation (Non-IFRS)

 

For the years ended,
March 31,

 

 

2026

 

2025

 

 

US$'000

 

US$'000

 

 

 

 

 

 

Net cash provided by operating activities

 

54,118

 

 

40,502

 

 

 

 

 

 

Less: Capital expenditure

 

 

 

 

  - Acquisition of property, plant and equipment

 

(1,114

)

 

(2,863

)

  - Proceeds from sale of property, plant and equipment

 

2

 

 

-

 

  - Acquisition of intangible asset

 

(523

)

 

-

 

 

 

 

 

 

Adjusted Free Cash Flow (Non-IFRS)

 

52,483

 

 

37,639

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For investor and media inquiries, please contact:

 

OMS Energy Technologies Inc.

Investor Relations

Email: ir@omsos.com

 

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

Email: oms@thepiacentegroup.com

 

 


FAQ

How did OMS Energy (OMSE) perform financially in fiscal year 2026?

OMS Energy reported revenue of $155.9 million and net profit of $33.9 million for fiscal 2026. Both were lower than fiscal 2025, but the company remained profitable with a 30.3% gross margin and continued to generate solid operating and free cash flow.

What happened to OMS Energy (OMSE) revenue and profitability versus last year?

Revenue declined from $203.6 million to $155.9 million and net profit decreased from $47.0 million to $33.9 million. Management attributes the revenue drop mainly to timing of Saudi Aramco Call-off Orders following an unusually strong prior year under overlapping contracts.

How strong is OMS Energy’s (OMSE) cash position and balance sheet?

OMS Energy ended March 31, 2026 with $154.3 million in cash and restricted cash and no debt. Operating cash flow rose to $54.1 million and adjusted free cash flow reached $52.5 million, supported by working capital improvements and IPO proceeds.

What is OMS Energy’s (OMSE) backlog and what does it indicate?

Backlog was $60.7 million as of March 31, 2026, down from $102.0 million a year earlier. The company describes backlog as confirmed orders expected within 12 months and links the decline primarily to Call-off Order timing under long-term Saudi contracts.

How is OMS Energy (OMSE) progressing on geographic diversification?

Revenue from specialty connectors and pipes outside Saudi Arabia increased to $4.6 million from $2.0 million. OMS also won its first surface wellhead and Christmas tree contracts in Pakistan and Angola and gained new certifications in Saudi Arabia and Indonesia, broadening regional reach.

What non-IFRS metrics does OMS Energy (OMSE) highlight for 2026?

OMS Energy emphasizes adjusted EBITDA of $41.2 million with a 26.4% margin and adjusted free cash flow of $52.5 million. These non-IFRS measures exclude certain items to focus on operational performance and capital efficiency relative to its core manufacturing business.

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