New Risk • Apr 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risk Market cap is less than US$100m (AU$35.8m market cap, or US$25.6m). Reported Earnings • Mar 04
First half 2026 earnings released: AU$0.009 loss per share (vs AU$0.002 profit in 1H 2025) First half 2026 results: AU$0.009 loss per share (down from AU$0.002 profit in 1H 2025). Revenue: AU$4.86m (up 2.0% from 1H 2025). Net loss: AU$1.50m (down AU$1.81m from profit in 1H 2025). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Feb 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$21.5m market cap, or US$15.2m). Announcement • Oct 17
Orbital Corporation Limited, Annual General Meeting, Nov 20, 2025 Orbital Corporation Limited, Annual General Meeting, Nov 20, 2025. Location: stirling leisure centre, 38 ashbury crescent, mirrabooka wa 6061, Australia Reported Earnings • Sep 03
Full year 2025 earnings released: AU$0.027 loss per share (vs AU$0 in FY 2024) Full year 2025 results: AU$0.027 loss per share (further deteriorated from AU$0 in FY 2024). Revenue: AU$8.23m (down 35% from FY 2024). Net loss: AU$4.30m (down AU$4.36m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (45% accrual ratio). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$39.4m market cap, or US$25.8m). Announcement • Aug 29
Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,285,714
Price\Range: AUD 0.21
Discount Per Security: AUD 0.0126
Transaction Features: Subsequent Direct Listing Announcement • Aug 21
Orbital Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. Orbital Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,285,714
Price\Range: AUD 0.21
Discount Per Security: AUD 0.0126
Transaction Features: Subsequent Direct Listing New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$24.7m market cap, or US$16.1m). New Risk • Mar 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 46% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (46% accrual ratio). Minor Risk Market cap is less than US$100m (AU$17.3m market cap, or US$10.7m). New Risk • Feb 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.9m (US$9.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (AU$15.9m market cap, or US$9.86m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Jan 09
Orbital Corporation Limited Appoints Andrew Mills as an Executive Director Orbital Corporation Ltd. announced leadership changes to Orbital's Board. Mr. Andrew Mills has been appointed as an Executive Director. Mr. Mills has a bachelor's degree in applied chemistry and has 25 years' experience within automotive and aerospace organisations. Prior to joining Orbital in 2019 Andrew held senior management and executive roles with BAE Systems UK and HELLA New Zealand. Mr. Mills' significant technical and operational expertise further strengthens the OEC Board and follows the appointment of Mr. Kyle Abbott as Non-Executive Chairman. New Risk • Dec 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Market cap is less than US$10m (AU$15.7m market cap, or US$9.84m). Minor Risk Shareholders have been diluted in the past year (7.9% increase in shares outstanding). New Risk • Nov 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Market cap is less than US$10m (AU$14.6m market cap, or US$9.43m). Minor Risk Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Announcement • Nov 15
Orbital Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 2.008283 million. Orbital Corporation Limited has filed a Follow-on Equity Offering in the amount of AUD 2.008283 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,257,115
Price\Range: AUD 0.11
Transaction Features: Rights Offering Reported Earnings • Aug 31
Full year 2024 earnings released: EPS: AU$0.001 (vs AU$0 in FY 2023) Full year 2024 results: EPS: AU$0.001 (up from AU$0 in FY 2023). Revenue: AU$13.0m (down 22% from FY 2023). Net income: AU$67.0k (up 235% from FY 2023). Profit margin: 0.5% (up from 0.1% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Announcement • Aug 30
Orbital Corporation Limited, Annual General Meeting, Nov 14, 2024 Orbital Corporation Limited, Annual General Meeting, Nov 14, 2024. New Risk • May 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.6m (US$9.61m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (89% accrual ratio). Market cap is less than US$10m (AU$14.6m market cap, or US$9.61m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Mar 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (89% accrual ratio). Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$21.9m market cap, or US$14.5m). Reported Earnings • Mar 04
First half 2024 earnings released: AU$0.003 loss per share (vs AU$0.019 loss in 1H 2023) First half 2024 results: AU$0.003 loss per share (improved from AU$0.019 loss in 1H 2023). Revenue: AU$8.49m (down 33% from 1H 2023). Net loss: AU$425.0k (loss narrowed 77% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • Dec 01
Orbital Corporation Limited Appoints Grant Lukey as Non-Executive Director with Effect from December 1, 2023 Orbital Corporation Ltd. announced the appointment of Dr. Grant Lukey to the Board of the Company as a Non-Executive Director with effect from 1st December 2023. Dr. Lukey is an experienced industry executive with a background in Chemical Engineering. He holds a PhD in minerals processing and is a graduate of the Advanced Management Program at Harvard University. He is currently the CEO and Managing Director of Coogee Chemicals, a board member on Chemistry Australia and the Kwinana Industries Council. He currently sits on the Advisory Board of the Chemical College for Engineers Australia. Announcement • Nov 23
Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,428,572
Price\Range: AUD 0.14
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,142,857
Price\Range: AUD 0.14
Transaction Features: Subsequent Direct Listing New Risk • Oct 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (55% accrual ratio). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$22.2m market cap, or US$14.3m). Reported Earnings • Sep 01
Full year 2023 earnings released: EPS: AU$0 (vs AU$0.13 loss in FY 2022) Full year 2023 results: EPS: AU$0 (improved from AU$0.13 loss in FY 2022). Revenue: AU$16.8m (up 6.9% from FY 2022). Net income: AU$20.0k (up AU$11.2m from FY 2022). Profit margin: 0.1% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Announcement • Aug 31
Orbital Corporation Limited, Annual General Meeting, Nov 16, 2023 Orbital Corporation Limited, Annual General Meeting, Nov 16, 2023. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$16.4m market cap, or US$10.6m). New Risk • Aug 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.2m (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (AU$15.2m market cap, or US$9.76m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.019 loss per share (vs AU$0.056 loss in 1H 2022) First half 2023 results: AU$0.019 loss per share (improved from AU$0.056 loss in 1H 2022). Revenue: AU$12.7m (up 43% from 1H 2022). Net loss: AU$1.81m (loss narrowed 64% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Feb 01
Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Orbital Corporation Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,500,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,500,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Transaction Features: Subsequent Direct Listing Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director F. Abbott was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 20
Orbital Corporation Limited Reaffirms Revenue Guidance for the Financial Year 2023 Orbital Corporation Limited reaffirmed revenue guidance for the financial year 2023. For the year, the company forecasts revenue of $20 million to $25 million. Announcement • Sep 02
Orbital Corporation Limited, Annual General Meeting, Nov 16, 2022 Orbital Corporation Limited, Annual General Meeting, Nov 16, 2022. Location: City of Perth Library, 573 Hay Street Perth Western Australia Australia Agenda: To consider for election as a director of the Company. Reported Earnings • Sep 01
Full year 2022 earnings released: AU$0.13 loss per share (vs AU$0.15 loss in FY 2021) Full year 2022 results: AU$0.13 loss per share (up from AU$0.15 loss in FY 2021). Revenue: AU$15.7m (down 50% from FY 2021). Net loss: AU$11.1m (loss narrowed 2.7% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Aug 02
Orbital Corporation Limited Provides Earnings Guidance for Fiscal 2023 Orbital Corporation Limited provided earnings guidance for fiscal 2023. Revenue is forecast at AUD 20 million to $25 million and the company is targeting net profitability. Announcement • Jul 28
Orbital Corporation Ltd Announces the Appointment of Mikael Bergman as Chief Technical Officer Orbital Corporation Ltd. announced the appointment of Mr. Mikael Bergman to the position of Chief Technical Officer (`CTO'). Mikael joins the Company having held senior technical leadership roles during two decades with Husqvarna Group in Sweden. The addition of Mikael to the Orbital UAV Executive Team comes at a pivotal time in the Company's growth journey. Over the past five years, Orbital UAV has established its position as the preeminent supplier of integrated, heavy fuel propulsion systems into the global tactical uncrewed aerial vehicle (UAV) market. Building its position and reputation with Boeing subsidiary, Insitu Inc., the Company has gone on to successfully diversify its international customer base and is now working with multiple defence prime contractors to solve their propulsion system requirements. During his time with Husqvarna, Mikael served as a Senior Technical Advisor, focusing on the company's overall technical roadmap and architecture, and leading large, complex development programs from conception to production. Prior to this, in the role of Manager Global Engines, Mikael was responsible for three major departments: Engine Performance; Engine Electric and Engine Laboratory. Orbital UAV currently has two engine production lines in operation for Boeing Insitu and five engine development programs for Textron Systems (x2), a major Singapore customer, Skyways and Anduril Industries. Mikael will oversee the technical aspects of these programs whilst leading the expanded product and service solution strategy. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director F. Abbott was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 14
Orbital Corporation Limited to Report First Half, 2022 Results on Feb 23, 2022 Orbital Corporation Limited announced that they will report first half, 2022 results on Feb 23, 2022 Price Target Changed • Sep 03
Price target decreased to AU$1.00 Down from AU$1.10, the current price target is provided by 1 analyst. New target price is 65% above last closing price of AU$0.60. Stock is down 50% over the past year. Announcement • Aug 27
Orbital Corporation Limited Provides Earnings Guidance for the Year Ending June 30, 2022 Orbital Corporation Limited provided earnings guidance for the year ending June 30, 2022. For the quarter, the company expected revenue to be in line with 2021 results, targeting EBIT and net profitability. The Company is targeting profitability on stable revenue in 2022 and expects revenue growth and profitability to accelerate in 2023 with additional engine models entering production. Reported Earnings • Aug 27
Full year 2021 earnings released: AU$0.15 loss per share (vs AU$0.024 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: AU$31.2m (down 7.6% from FY 2020). Net loss: AU$11.4m (down AU$13.3m from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Major Estimate Revision • Jul 31
Consensus revenue estimates fall to AU$33.5m The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from AU$52.0m to AU$33.5m. Forecast loss of AU$0.033, down from of -AU$0.006 per share profit previously. Aerospace & Defense industry in Australia expected to see average net income growth of 29% next year. Consensus price target down from AU$1.28 to AU$1.10. Share price fell 17% to AU$0.70 over the past week. Price Target Changed • Jul 30
Price target decreased to AU$1.10 Down from AU$1.27, the current price target is an average from 2 analysts. New target price is 56% above last closing price of AU$0.70. Stock is down 49% over the past year. Major Estimate Revision • Mar 05
Analysts update estimates The company's losses in 2021 are expected to worsen with analysts lowering their consensus EPS forecasts from -AU$0.007 to -AU$0.058. No change was made to the revenue estimate which at the last update was AU$37.3m. The Aerospace & Defense industry in Australia is expected to see an average net income growth of 24% next year. The consensus price target increased from AU$1.27 to AU$1.28. Share price is down by 9.9% to AU$0.73 over the past week. Is New 90 Day High Low • Mar 04
New 90-day low: AU$0.77 The company is down 35% from its price of AU$1.18 on 04 December 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.14 per share. Is New 90 Day High Low • Feb 01
New 90-day low: AU$0.89 The company is down 21% from its price of AU$1.12 on 03 November 2020. The Australian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is down 2.0% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: AU$1.32 The company is up 4.0% from its price of AU$1.27 on 09 October 2020. The Australian market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Aerospace & Defense industry, which is down 14% over the same period. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 16% share price gain to AU$1.27, the stock is trading at a trailing P/E ratio of 52.8x, up from the previous P/E ratio of 45.7x. This compares to an average P/E of 16x in the Aerospace & Defense industry in Australia. Total returns to shareholders over the past three years are 164%. Major Estimate Revision • Oct 08
Analysts update estimates The 2021 consensus earning per share (EPS) estimate was lowered from AU$0.056 to AU$0.035. No change was made to the revenue estimate which at the last update was AU$45.3m. Net income is expected to grow by 45% next year compared to 13% growth forecast for the Aerospace & Defense industry in Australia. The consensus price target was lowered from AU$1.36 to AU$1.25. Share price is up 8.6% to AU$1.27 over the past week.