IMDEX Surges with Record Half-Year Revenue and Strategic Acquisitions
IMDEX Limited has reported its strongest first half ever, with revenue climbing 16% to $247 million, driven by robust market share gains and key acquisitions that broaden its mining technology portfolio.
- Record 1H26 revenue of $247 million, up 16%
- Normalized EBITDA rises 22% to $78 million with margin expansion
- Strategic acquisitions of Earth Science Analytics, Advanced Logic Technology, Mount Sopris Instruments
- Strong growth in digital earth knowledge and mining technology segments
- Declared record interim dividend of 1.7 cents per share
IMDEX’s Record-Breaking First Half
IMDEX Limited has delivered a landmark performance for the first half of fiscal 2026, posting record revenue of $247 million, a 16% increase on the prior corresponding period. This growth reflects the company’s successful strategy of investing through the exploration cycle and expanding its suite of integrated mining technologies. Normalised EBITDA rose 22% to $78 million, with margins expanding to 32%, underscoring operational leverage and efficiency gains.
The company’s ability to capture greater market share across all regions has been a key driver, supported by strong customer adoption of its productivity-enhancing solutions. IMDEX’s share of wallet increased to $2.30 per $100 of exploration spend, up from $2.10 in the previous year, signalling deeper penetration within its client base.
Strategic Acquisitions Bolster Technology Leadership
IMDEX’s growth story is also shaped by a series of strategic acquisitions that enhance its digital and geophysical capabilities. The recent completion of Earth Science Analytics and Datarock, alongside the acquisitions of Advanced Logic Technology and Mount Sopris Instruments, significantly expand IMDEX’s AI-enabled orebody intelligence platform. These moves position the company to offer a broader and more scalable digital platform, strengthening its competitive edge in the mining technology sector.
Looking ahead, the planned acquisition of Krux Analytics, expected to close in April 2026, will further consolidate IMDEX’s presence in the analytics space, complementing its existing portfolio and supporting ongoing innovation.
Business Unit Highlights and Market Dynamics
The Drill Site Technologies division continues to lead with high-precision drilling optimisation solutions, reporting a 28% increase in integrated field services revenue. Notably, IMDEX Mining Technologies saw a 47% jump in revenue, driven by underground and subsurface production activities. Meanwhile, Digital Earth Knowledge recorded strong growth with Datarock revenue up 90% and steady gains in its ioGAS™ and aiSIRIS™ platforms.
Despite a challenging economic backdrop marked by rising costs and geopolitical uncertainties, IMDEX benefits from a rising exploration market. Junior miners have recently raised capital that is yet to be deployed, and major resource companies are expected to increase their exploration budgets in calendar 2026. This environment fuels demand for IMDEX’s solutions that enhance operational productivity and real-time subsurface intelligence.
Capital Management and Dividend Policy
Reflecting confidence in its financial position, IMDEX declared a record interim fully franked dividend of 1.7 cents per share, consistent with its 30% payout ratio policy. The company also plans to prioritise integration of recent acquisitions and accelerate adoption of next-generation technologies in the second half of FY26, aiming to sustain momentum and long-term growth.
Managing Director Paul House highlighted the company’s commitment to continual investment and the strength of its global network, which together have enabled IMDEX to outperform market expectations and deliver value to customers and shareholders alike.
Bottom Line?
IMDEX’s record half-year sets a high bar, but integration of acquisitions and market uncertainties will test its growth trajectory in the months ahead.
Questions in the middle?
- How will the integration of recent acquisitions impact IMDEX’s profitability and operational efficiency?
- Can IMDEX sustain its market share gains amid rising costs and geopolitical challenges?
- What is the potential upside from increased exploration budgets by major resource companies in 2026?
