HY26 results snapshot
In its HY26 half year results presentation, Volt Group reported ordinary revenue of $4.773M for the six months ended 30 June 2026, representing growth of 122% on the prior corresponding period. Adjusted EBITDA reached $1.601M, up 531% on HY25, reflecting the transformative impact of the 4D Delta acquisition alongside continued organic momentum across the group.
Net operating cashflow (excluding one-off items) grew 585% to $1.85M, and the group recorded a profit attributable to members of $692K, compared to a loss of $272K in HY25.
The Adjusted EBITDA figure excludes $0.11M in non-cash 4D Delta advisor option expense and $0.41M in once-off acquisition costs. Adjusting for these items is standard practice when assessing underlying operating performance, as one-off and non-cash items can distort period-on-period comparisons.
| Description | HY26 ($’000) | HY25 ($’000) | Change |
|---|---|---|---|
| Ordinary Revenue | 4,773 | 2,148 | +122% |
| Adj. EBITDA | 1,601 | 254 | +531% |
| Net Op. Cashflow (ex one-off) | 1,850 | — | +585% |
| Profit Attributable to Members | 692 | (272) | +354% |
| Cash at Bank | 3,630 | — | — |
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What is Volt Group and how does it create value?
Volt Group is a diversified industrial technology company operating across four business units: ecoQUIP (zero-emission mobile power solutions), 4D Delta (digital remote asset inspection), Wescone (proprietary sample crushing), and Aten. Each division targets the global resources sector through proprietary technology and services, with a focus on generating scalable, recurring revenue streams.
The four-unit structure is deliberate. By operating across distinct industrial technology segments, the group avoids reliance on any single product cycle, providing margin protection and growth optionality as individual divisions expand at different rates. HY26 demonstrates this model in action, with 4D Delta contributing its first full period of revenue while Wescone delivered organic growth and ecoQUIP continued fleet deployments.
Three engines driving growth
4D Delta — digital inspection now contributing
4D Delta was acquired on 6 January 2026, with the transaction accompanied by a $4.0M equity capital raising. The division contributed $2.35M to group revenue during HY26, its first reporting period as part of Volt Group, and is performing in line with the CY26 Board-approved budgets established at acquisition.
The 4D Delta acquisition was structured at $7.25M and accompanied by forecasts of $1.3-1.6M in FY26 EBITDA, a target the division is on track to meet based on its HY26 contribution of $2.35M in revenue against Board-approved budgets.
Assets on the 4D Delta Cloud Platform grew 22% since acquisition, reaching 893. The client base includes long-term Tier-1 relationships with Rio Tinto, BHP, Alcoa, and South32. A new WA Goldfields alliance partnership was signed during the period, adding to the existing Wingfield Scale & Measure (USA) alliance. Management noted the division continues to assess additional alliance partnerships in priority geographic markets.
The WA Goldfields alliance partnership was established with Kalgoorlie-based Element Geospatial, targeting mill wear surfaces and bulk materials handling assets such as chutes, bins, and deflectors at regional resource operations, with the arrangement structured as a joint service alliance giving 4D Delta an on-ground commercial presence in a market it had not previously covered.
Wescone — organic momentum building
Wescone recorded revenue growth of approximately 24% on H1 FY25, continuing its track record of organic expansion across the global mining and assay laboratory industries. Key milestones from the period include:
- Successful high-moisture Rio Tinto prototype crusher trial, with feed moisture specification increased from 6% to approximately 10%, with a patent filed following the result
- Expanded W300 serviceable market into high-moisture Pilbara ore resources
- North American patent secured for the W300 Series 4, completing comprehensive global IP coverage
- MIT continues to build sales momentum in the African market
Engineering and construction partner tenders were submitted during the period, expected to grow the crusher deployment portfolio.
ecoQUIP — repositioning for next growth phase
ecoQUIP’s ordinary revenue was static versus HY25. The flat top-line, however, does not fully reflect the operational progress made during the period. 29 new Mobile Solar Lighting Towers (MSLTs) were deployed to Westgold during HY26, bringing the Westgold fleet to a total of 35 units. The presentation noted this deployment represents the first 100% displacement of diesel-fuelled lighting plant with a solar solution at hard rock mine processing operations.
Separately, Chevron returned 50 MSLTs following a successful five-year deployment at Barrow Island, with 3 units remaining deployed. A management restructure is described as near complete, with new sales and operational personnel in place. Multiple MSLT trials are anticipated for September/October 2026, positioning ecoQUIP as a division in reset rather than decline.
Capital structure and strategic priorities
As at 30 June 2026, Volt Group’s capital position was as follows:
- Shares on issue: 163.1M
- Options on issue: 10.5M
- Performance Rights on issue: 6.2M
- Cash: $3.63M
- Debt: $0.29M
- Net Assets: $15.21M
Mr James Garwood was appointed to the Board as a Non-Executive Director on 9 June 2026 to support Group sales growth.
The presentation outlined four stated strategic priorities for the period ahead:
- 4D Delta integration and scaling across Australian and US markets
- Sustained sales execution across all business units, with expanded client deployment
- Alliance partnership expansion in priority geographic markets across all business divisions
- Leveraging the diversified four-business-unit platform for operating leverage through expanding proprietary technology
No direct quote from Executive Chairman Adam Boyd was included in the presentation materials reviewed.
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