Lycopodium (ASX:LYL) delivered its fiscal 2026 result within revenue and net profit after tax guidance ranges, with strong margins resulting in better-than-expected bottom line performance, Euroz Hartleys said in a Wednesday note.

The company logged AU$1.011 in earnings per share for fiscal 2026, compared with AU$1.062 a year ago.

Revenue was AU$377.5 million for the 12 months ended June 30 versus AU$339.6 million previously.

Euroz Hartleys expects elevated earnings for the company as the substantial order book is executed in the near term.

The ongoing studies present opportunities for replenishing and expanding the order book, potentially leading to further upgrades.

The company expects fiscal 2027 revenue of between AU$540 million and AU$580 million and net profit after tax of between AU$54 million and AU$58 million.

Euroz Hartleys maintained a buy recommendation on Lycopodium while its AU$17.65 price target is under review.

Lycopodium shares rose nearly 11% in midday trade Wednesday.