Nuix delivers 60% EBITDA lift as Nuix Neo drives FY26 growth
In its FY26 financial results presentation dated 24 August 2026, Nuix outlined a full-year performance underpinned by accelerating adoption of its Nuix Neo platform, with Adjusted Management EBITDA up 60.4% to $59.8m on revenue of $263.2m, a rise of 18.8%.
The unstructured data intelligence company reported Annualised Contract Value (ACV) of $260.0m, up 13.9%, as Nuix Neo continued to scale as the primary growth engine.
Nuix Neo ACV climbed 179% to $78.5m over the year, now representing 30% of total ACV. Management noted the result delivered on the core FY26 strategic objective of growing revenue materially faster than operating costs, while flagging FY27 guidance and a return to statutory profit.
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FY26 financial performance at a glance
The FY26 results marked a return to profit, with Profit After Tax of $16.4m compared with a $9.2m loss in FY25. Underlying cash flow rose 154% to $51.0m, meeting the strategic objective to be underlying cash flow positive for the full year.
Statutory EBITDA increased 40.5% to $66.9m, while net cash stood at $49.9m following the financial close of the Linkurious acquisition. Adjusted Management EBITDA, previously referred to as Cash EBITDA, remains the core profitability metric considered by management and the Board.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| ACV | $260.0m | $228.4m | +13.9% |
| Revenue | $263.2m | $221.5m | +18.8% |
| Adjusted Management EBITDA | $59.8m | $37.2m | +60.4% |
| Statutory EBITDA | $66.9m | $47.6m | +40.5% |
| Profit/(Loss) After Tax | $16.4m | ($9.2m) | n.m. |
| Underlying Cash Flow | $51.0m | Not stated | +154% |
| Net Cash | $49.9m | Not stated | +24.8% |
The Adjusted Management EBITDA margin expanded to 22.7%, from 16.8% in the prior period, which management attributed to stronger revenue, operational discipline and cost management.
Nuix Neo the primary growth engine
Nuix Neo ACV rose 179% to $78.5m, up 68% since December 2025. Customer numbers grew to 135, from 75 in the prior comparable period. The presentation detailed that growth was driven by migration of customers from component solutions to Nuix Neo, new customer acquisition, and upsell within existing accounts.
Management noted particularly strong sales to government agencies across North America and EMEA. For existing customers migrating from component solutions, the typical ACV uplift was cited at 30-50%.
Net Dollar Retention closed the year at 105.2%, an improvement from 101.0% at the half. The company attributed the H2 recovery to focused execution around renewals and upsell.
AI capabilities expanding revenue per customer
The presentation outlined that AI enablers are priced as discrete, opt-in modules that expand ACV per customer. Of the 135 Nuix Neo customers, adoption across the three add-on tiers was reported as follows:
- AI enablers (BYO AI, Semantic Search, Transcription): approximately 20% adopted
- Graph visualisation (Linkurious technology): approximately 7% adopted
- AI-enriched solutions library: approximately 60% adopted
Management framed these modules as a land-and-expand pathway, where initial adoption creates a route to additional AI capabilities and deeper wallet share.
What is unstructured data intelligence, and why it matters
Enterprises frequently struggle to search, govern and act on this data at scale, particularly where compliance and legal obligations apply.
Nuix Neo is positioned to turn unstructured data into what the company describes as “trusted intelligence” for use cases spanning investigations, legal review, data privacy and compliance.
For investors, the demand driver sits at the intersection of AI, automation and regulation. As courts and regulators increasingly hold organisations accountable for AI-generated outputs, enterprises require auditable and defensible results. Nuix estimates a multi-billion-dollar addressable market with current penetration below 10%, indicating substantial headroom for platform expansion.
Linkurious integration and the graph analytics opportunity
The Linkurious acquisition, which added graph visualisation technology, reached financial close on 20 April 2026, with the full team and Paris office retained. Management reported the integration is progressing to plan, with early cross-sell success already secured.
The Linkurious acquisition was funded with $20 million in debt and approximately $7 million in existing cash, with the Paris-based team and office fully retained as part of the transaction terms.
Linkurious contributed ACV of $12.0m, representing an annualised run-rate at 30 June 2026, alongside revenue of $3.8m and EBITDA of $2.0m reflecting the 72 days from financial close to the end of the financial year.
Strategically, Nuix Neo processes large volumes of complex, unstructured data while Linkurious visualises the connections within it. The presentation identified a significant cross-sell opportunity across the combined customer base, with graph analytics demand growing across fraud, anti-money laundering (AML) and financial crime use cases.
Strategic reset — from feature selling to platform value
Management outlined a strategic direction centred on shifting from feature selling to platform value. A restructured go-to-market model becomes operational from FY27, comprising two regional sales teams (Americas and International) alongside dedicated leadership for the Discover segment.
The presentation also detailed that Product and Technology teams have been unified under Chief Technology Officer (CTO) ownership, aimed at strengthening delivery and platform strategy alignment.
Five growth pillars
Management set out five pillars intended to build cumulatively on ACV growth:
- Nuix Neo migration
- ICP upsell within existing high-value accounts
- New customer acquisition
- Discover growth
- Partner and geographic expansion
The R&D Accelerator
The company outlined a one-off $15m R&D investment in FY27 to accelerate platform capability, targeting additional revenue growth from FY28. Management framed this as a deliberate investment decision building on Nuix Neo momentum, spanning enterprise integration, agentic AI capabilities, cloud platform acceleration and unified user experience.
Investors should note the R&D Accelerator is expected to impact FY27 Adjusted Management EBITDA, with revenue benefits anticipated from FY28 and beyond.
ASIC case update
The presentation confirmed that the Federal Court dismissed all of ASIC’s claims against the Company and the then-individual Directors.
ASIC has appealed the decision, only insofar as it concerns the Company, and the appeal is pending. The dismissal of all claims against the relevant individual Directors is not subject to appeal and is final.
For investors wanting to understand the scope and timeline of the ongoing proceedings, our detailed coverage of the ASIC appeal and what it means for investors outlines the specific grounds ASIC is pursuing, the exclusion of former directors from the appeal, and the absence of a confirmed hearing date.
FY27 outlook
Management provided guidance for the year ahead as follows:
- FY27 ACV range of $285m to $300m, assuming an AUD/USD rate of 0.70
- FY27 Adjusted Management EBITDA similar to FY26, reflecting further operating leverage offset by the one-off R&D Accelerator investment
- Growth weighted to the second half, in line with prior years
The guidance signals continued ACV momentum, with the company noting strong absolute Nuix Neo ACV growth expected off a higher FY26 base as the migration program reaches an established cadence. For investors, the outlook reflects a business investing in FY28 upside while maintaining the operating leverage delivered in FY26.
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