Story
Getech Shares Surge on 15% Revenue Growth, Return to Profitability
Summary
Shares in Getech (AIM:GTC) jumped after the subsurface resources company reported a 15% revenue increase and a positive adjusted EBITDA for the first half of 2026, driven by a strategic refocus and successful cost-cutting measures.
Getech (AIM:GTC) shares surged on Tuesday after the subsurface resources company announced a 15% increase in first-half revenue and a return to profitability, signaling a successful turnaround following a strategic refocus and significant cost reductions.
First-Half Financials
For the six months ending June 30, 2026, Getech reported revenue of £2.4 million, up from £2.1 million in the same period a year prior. The company also swung to a positive adjusted EBITDA of £0.2 million, a marked improvement from the £0.1 million loss recorded in the first half of fiscal 2025.
The improved profitability was supported by cost-cutting measures implemented in 2025, which reduced the company's cost base by approximately 20%. Getech's cash position also strengthened, with cash at bank standing at £0.6 million, compared to £0.2 million at the end of fiscal 2025.
Business Outlook and Strategy
Getech attributed the strong performance to its strategic decision over the past 18 months to refocus on its traditional markets. The company noted that increased exploration activity in its core sectors—Oil & Gas, Mining, and Natural Hydrogen—is expected to support future performance.
AdKey operational highlights from the report include:
- The company's order book grew to £4.0 million, up from £3.8 million at the end of 2025.
- Getech expects £1.6 million of the current order book to convert into revenue during the second half of 2026.
- Annual recurring revenue remained stable at £2.8 million.
Citing positive trading momentum and a healthy pipeline, Getech stated that it remains in line with market expectations for the full fiscal year. The company serves four of the world's six oil and gas supermajors as subscribers to its Globe data platform.
Market Reaction
In response to the positive trading update, shares in the AIM-listed company jumped 12.8% in early trading. The results suggest the company's strategic pivot and operational efficiencies are yielding positive results for investors.
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