SINGAPORE, Nov. 21, 2025 (GLOBE NEWSWIRE) -- OMS Energy Technologies Inc. ("OMS" or the "Company") $(OMSE)$, a growth-oriented manufacturer of surface wellhead systems ("SWS") and oil country tubular goods ("OCTG") for the oil and gas industry, today announced its unaudited financial results for the six months ended September 30, 2025. OMS delivered robust cash generation, healthy profitability, and significant strategic progress across international markets. Revenue performance during the period reflected more normalized call-off(1) orders under long-term contracts in the first half of fiscal 2026, compared with the unusually high call-off volumes in the prior-year period, amid healthy underlying demand and contract visibility.
New partnerships in Angola and Pakistan and strong performance across Indonesia, Egypt, Oman and the United Arab Emirates $(UAE)$ broadened OMS's global footprint and further diversified revenue. Meanwhile, the Company maintained a solid portfolio of long-term contracts, highlighted by a renewed three-year agreement with PTTEP that strengthens OMS's leadership in Thailand. In the Indonesian market, the Company's marketing efforts are attracting new customers, such as PT Seleraya Belida (South Sumatra) and Pertamina Hulu Sanga Sanga (East Kalimantan), and driving steady growth in sales of surface wellhead and Christmas tree products.
First Half of Fiscal Year 2026 Financial Highlights
-- Total revenues were $82.8 million, with first half fiscal 2026 dynamics
reflecting a more normalized call-off cadence relative to the elevated
volumes seen with a major client in Saudi Arabia in the prior-year
period.
-- Gross margin was 28.2%, remaining at a healthy level due to continued
cost and operational discipline, despite the aforementioned unusually
higher call-off volumes in the prior-year period.
-- Operating profit was $17.9 million with 21.6% operating margin,
underscoring OMS's efficient and resilient business model, tight
financial stewardship and strong supply chain management.
-- Net cash provided by operating activities was $26.4 million, bringing the
Company's cash, cash equivalents and restricted cash to a record $128.7
million as of September 30, 2025.
Mr. How Meng Hock, Chairman and Chief Executive Officer of OMS, commented, "We achieved key strategic milestones in the first half of fiscal year 2026, delivering strong operating cash flow and strengthening our balance sheet to accelerate our next phase of growth and international expansion. We also maintained healthy profit margins and secured new customer wins and contract renewals in Thailand, Pakistan and Africa amid a challenging macro environment, demonstrating our business model's resilience and strong expansion momentum. Our active order pipeline and sizeable backlog under major long-term contracts reflect solid underlying demand. Across Thailand, Indonesia and Oman, we are seeing deep customer engagement and steady request activity that supports our long-term market position. With a record cash balance, diversified revenue streams and strengthened financial fundamentals, we're well-positioned to propel expansion, invest in product innovation and seize high-return opportunities that enhance long-term shareholder value."
First Half of Fiscal 2026 Financial Results
Total revenues. Total revenues were $82.8 million, compared with $129.2 million for the same period in 2025. The change was primarily attributable to exceptionally high call-off orders under long-term customer contracts in Saudi Arabia in the first half of fiscal 2025, and correspondingly a relatively high year-over-year comparison base.
-- Specialty connectors and pipes. Revenues from sales of specialty
connectors and pipes were $51.1 million, compared with $95.7 million for
the same period in 2025, primarily attributable to the aforementioned
timing of call-off orders from a major customer in Saudi Arabia,
partially offset by increased export sales to the United Arab Emirates
and Indonesia.
-- Surface wellhead and Christmas tree equipment. Revenues from sales of
surface wellhead and Christmas tree equipment were $6.2 million, compared
with $5.1 million for the same period in 2025. The increase was primarily
attributable to increased order volumes from key customers in Indonesia,
Egypt and Oman.
-- Premium threading services. Revenues from the rendering of premium
threading services were $18.0 million, compared with $19.3 million for
the same period in 2025, mainly attributable to reduced oil and gas
production in Malaysia and Singapore, partially offset by higher sales of
premium threading services in Indonesia and Thailand.
-- Other ancillary services. Revenues generated from other ancillary
services were $7.5 million, compared with $9.1 million for the same
period in 2025, mainly attributable to softer demand for engineering
services and refurbishment services.
Cost of revenues. Cost of revenues was $59.5 million, compared with $86.1 million for the same period in 2025.
Gross profit. Gross profit was $23.3 million, compared with $43.1 million for the same period in 2025. Gross margin was 28.2%, compared with 33.3% for the same period in 2025. The changes were primarily attributable to the unusually high call-off volumes under long-term customer contracts in Saudi Arabia in the first half of fiscal 2025. OMS maintained a healthy gross margin despite the change in timing of call-off orders, reflecting continued cost discipline, operational efficiency and customer engagement.
Selling, general and administrative expenses. Selling, general and administrative expenses were $5.4 million, compared with $5.0 million for the same period in 2025. The increase was primarily due to additional post-IPO compliance costs and cybersecurity readiness initiatives.
Operating profit. Operating profit was $17.9 million, compared with $38.1 million for the same period in 2025.
Total other (expense)/income, net. Total other expense, net was $0.07 million, compared with total other income, net of $0.6 million for the same period in 2025. The change was primarily attributable to foreign exchange losses related to the adverse fluctuations of several Asian currencies against the US dollar during the first half fiscal year 2026.
Net profit. Net profit was $14.6 million, compared with $30.7 million for the same period in 2025, primarily attributable to a strong base period, driven by exceptionally high call-off volumes from a major Saudi customer in the first half of fiscal 2025. Adjusting for this, underlying demand and contract visibility remain solid.
Basic and diluted EPS. Basic and diluted earnings per share were $0.33, compared with $0.80 for the same period in 2025, attributable to the unusually high call-off volumes in the first half of fiscal 2025, and correspondingly the relatively high year-over-year comparison base. OMS's normalized margin profile and earnings capacity remain healthy.
Balance Sheet and Cash Flow
As of September 30, 2025, the Company's cash, cash equivalents and restricted cash totaled $128.7 million, compared with $75.8 million as of March 31, 2025. The sharp increase was primarily attributable to $26.4 million of net cash provided by operating activities for the first half of 2026, as well as net proceeds of $28.9 million raised from the initial public offering, after deducting underwriting discounts and other offering expenses.
Net cash provided by operating activities was $26.4 million, compared with $23.4 million in the same period in 2025. OMS continues to prioritize strong capital discipline, maintaining a conservative balance sheet and ample liquidity to support future investments and global expansion.
Conference Call
The Company's management will hold an earnings conference call at 7:00 A.M. U.S. Eastern Time/8:00 P.M. Singapore Time on November 21, 2025, to discuss its financial results and operating performance for the first half of fiscal year 2026.
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/BI52568cc179f54752b56e7d2ebe9884a8
Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the provided number, enter your PIN, and you will be connected to the conference.
A live and archived 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 engineered solutions 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.
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: omsos@thepiacentegroup.com
OMS ENERGY TECHNOLOGIES INC. AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
As of As of
September 30, March 31,
2025 2025
--------------- ----------
US$'000 US$'000
Assets
Current assets:
Cash and cash equivalents 125,986 72,950
Restricted cash, current 1,384 1,692
Trade receivables 14,613 13,467
Contract assets 447 983
Inventories 19,987 32,546
Prepayment and other current
assets 5,007 1,646
Amount due from a related party 1,693 1,584
-------------- ----------
Total Current Assets 169,117 124,868
-------------- ----------
Non-current assets:
Restricted cash, non-current 1,368 1,189
Right-of-use assets 7,474 8,086
Property, plant and equipment 29,088 32,055
Intangible assets 310 42
Deferred tax assets 1,933 2,938
Prepayment and other non-current
assets 2,387 1,327
-------------- ----------
Total Non-Current Assets 42,560 45,637
-------------- ----------
Total Assets 211,677 170,505
============== ==========
Liabilities
Current Liabilities:
Trade and other payables 17,606 15,070
Tax payable 4,877 8,200
Lease liabilities, current 1,233 1,187
-------------- ----------
Total Current Liabilities 23,716 24,457
-------------- ----------
Non-current Liabilities:
Employee benefits obligation 1,196 827
Lease liabilities, non-current 5,642 6,096
Deferred tax liabilities 3,817 4,217
Provisions 136 321
-------------- ----------
Total Non-Current Liabilities 10,791 11,461
-------------- ----------
Total Liabilities 34,507 35,918
-------------- ----------
Equity
Share capital 4 4
Share premium 101,556 72,648
Retained earnings 72,077 58,634
Accumulated other comprehensive
loss (2,764) (2,397)
-------------- ----------
Equity attributable to Shareholders
of the Company 170,873 128,889
Non-controlling interests 6,297 5,698
-------------- ----------
Total equity 177,170 134,587
-------------- ----------
Total liabilities and equity 211,677 170,505
============== ==========
OMS ENERGY TECHNOLOGIES INC. AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
AND OTHER
COMPREHENSIVE INCOME
For the For the
six months six months
ended ended
September 30, September 30,
2025 2024
--------------- --------------
US$'000 US$'000
Revenue 82,805 129,212
Total revenue 82,805 129,212
Cost of revenue (59,495) (86,126)
Total cost of revenue (59,495) (86,126)
-------------- --------------
Gross profit 23,310 43,086
Selling, general and
administrative expenses (5,415) (4,968)
-------------- --------------
Operating profit 17,895 38,118
Other (expense)/income, net (74) 593
-------------- --------------
Total other (expense)/income,
net (74) 593
Finance income 1,554 71
-------------- --------------
Total finance income 1,554 71
Finance cost (170) (122)
-------------- --------------
Total finance cost (170) (122)
Profit before tax 19,205 38,660
Income tax expense (4,604) (7,951)
-------------- --------------
Net profit 14,601 30,709
-------------- --------------
Other comprehensive
income/(loss):
Items that will not be
reclassified to profit or
loss
------------------------------
Foreign currency translation
differences (669) 3,311
Changes resulting from
actuarial remeasurement of
employee benefits
obligation (3) (23)
-------------- --------------
Other comprehensive
income/(loss), net of tax (672) 3,288
-------------- --------------
Total comprehensive income 13,929 33,997
-------------- --------------
Net profit attributable to:
Shareholders of the Company 13,840 29,353
Non-controlling interests 761 1,356
-------------- --------------
Net profit 14,601 30,709
-------------- --------------
Total comprehensive income
attributable to:
Shareholders of the Company 13,473 32,148
Non-controlling interests 456 1,849
-------------- --------------
Total comprehensive income 13,929 33,997
-------------- --------------
Basic and diluted
weighted-average shares
outstanding 41,522,778 36,910,250
Basic and diluted earnings per
share (as adjusted) (US$) 0.33 0.80
============== ==============
OMS ENERGY TECHNOLOGIES INC. AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the For the
six months six months
ended ended
September 30, September 30,
2025 2024
--------------- --------------
US$'000 US$'000
Operating activities
Net profit 14,601 30,709
Adjustments for:
Income tax expenses 4,604 7,950
Depreciation of property,
plant and equipment 3,188 2,027
Amortization of intangible
assets 34 31
Depreciation of right-of-use
assets 731 437
Loss/(gain) on disposal of
property, plant and
equipment 1 (135)
Allowance for/(reversal of)
inventories obsolescence 330 (49)
Allowance for expected
credit losses -- 20
Finance costs 170 122
Finance income (1,554) (71)
Loss/(gain) on unrealized
foreign exchange 299 (245)
-------------- --------------
Changes in operating assets
and liabilities:
Trade receivables (1,146) (11,316)
Contract assets 536 (231)
Inventories 12,228 (20,002)
Prepayment and other assets (4,481) (1,220)
Trade receivables due from
related parties (109) --
Trade and other payables 2,331 19,403
Employee benefits obligation 366 49
-------------- --------------
32,129 27,479
Cash provided by operations:
Interest received 1,554 71
Income taxes paid (7,323) (4,191)
-------------- --------------
Net cash provided by operating
activities 26,360 23,359
-------------- --------------
Investing activities
Acquisition of property,
plant and equipment (605) (1,308)
Acquisition of intangible
asset (327) (283)
Amount due to a related
party -- (124)
-------------- --------------
Net cash used in investing
activities (932) (1,715)
-------------- --------------
Financing activities
Net proceeds from issuance
of shares 28,908 --
Repayment of loans and
borrowings -- (6,504)
Interest paid (170) (122)
Payment of lease liabilities (407) (476)
-------------- --------------
Net cash provided by/(used in)
financing activities 28,331 (7,102)
-------------- --------------
Effect of foreign exchange on
cash, cash equivalents and
restricted cash (852) 2,730
-------------- --------------
Net increase in cash, cash
equivalents and restricted
cash 52,907 17,272
Cash, cash equivalents and
restricted cash at beginning
of period 75,831 45,430
-------------- --------------
Cash, cash equivalents and
restricted cash at end of
period 128,738 62,702
-------------- --------------
Less: Restricted cash,
non-current 1,368 358
Less: Restricted cash,
current 1,384 1,727
-------------- --------------
Cash and cash equivalents at end
of period 125,986 60,617
============== ==============
(1) A call-off contract enables a customer to order products and services when needed, using pre-agreed terms that vary from customer to customer.
(END) Dow Jones Newswires
November 21, 2025 04:00 ET (09:00 GMT)