XRF Scientific posted a 13.8% jump in March quarter revenue to $15.8 million, led by strong international sales and new product shipments. The newly operational India office marks a strategic expansion, setting the stage for further growth.
- March quarter revenue up 13.8% to $15.8 million
- Profit before tax rises 10.7% to $3.7 million
- International sales, especially in Asia, drive growth
- New India office becomes operational with first orders
- Strong sales backlog of $1 million to be recognised next quarter
Strong International Sales Propel March Quarter Growth
XRF Scientific Ltd (ASX:XRF) delivered a robust March 2026 quarter with revenue climbing 13.8% to $15.8 million and profit before tax increasing 10.7% to $3.7 million compared to the prior year. International markets, particularly across Asia, were the standout growth engine, underpinning a solid performance across all divisions.
Consumable sales hit a quarterly high of $4.8 million, up from $4.4 million in the previous corresponding period, while capital equipment sales surged to $5.4 million from $4.5 million. The gold sector’s demand buoyed Orbis crusher sales, which reached $2.5 million. Early shipments of the next-generation xrFuse 1 and 2 products also contributed, with the new production line now fully operational. Meanwhile, xrTGA product revenue continues its upward trajectory, supported by a growing order book and repeat sales.
New India Office Opens, Signalling Strategic Expansion
March saw the official opening of XRF’s new office in India, moving from a distributor model to direct operations. This office received its first customer orders in March, set for invoicing in the June quarter. The move is a key part of XRF’s international expansion strategy, expected to accelerate sales momentum in one of the world’s fastest-growing markets.
This development aligns with the company’s earlier plans detailed in January, when it announced the transition to direct operations in India to capture growing mining and industrial demand. The new office has been well received by customers, reinforcing XRF’s foothold in Asia and complementing its existing global footprint spanning Perth, Melbourne, Europe, Canada, and beyond.
Order Backlog and Product Pipeline Set Up June Quarter
Notably, XRF ended the quarter with an unprecedented $1 million in unprocessed orders, primarily driven by international demand. Typically, orders are processed within days, but the surge means these sales will now be recognised in the June 2026 quarter, suggesting continued momentum ahead.
The precious metals division also performed well, with sales rising to $5.6 million despite a dip in platinum prices from January peaks. This price adjustment appears to have stimulated demand for new products towards the quarter’s end.
Looking forward, XRF plans to maintain its focus on international sales growth, ongoing product development, and exploring mergers and acquisitions. The company’s recent half-year results had already highlighted a mining sector surge and record profits, setting a strong foundation for this quarter’s advances.
These results and strategic moves underscore XRF’s commitment to expanding its global presence and product portfolio, with the India office playing a pivotal role in its growth narrative. Investors will be watching how the backlog converts to revenue and the impact of new product releases on the company’s financial trajectory.
Bottom Line?
XRF Scientific’s international expansion and product innovation position it well for sustained growth, but the timing of backlog recognition will be key to watch.
Questions in the middle?
- How quickly will the $1 million order backlog translate into recognised revenue?
- What impact will the India office have on sales growth beyond the initial orders?
- Which new product developments are likely to drive the next phase of revenue growth?