Harris Technology’s Refurbished Tech Sales Surge Powers FY26 Growth and Strengthened FSP Partnership

Refurbished Tech Fuels Revenue and Margin Expansion

Harris Technology Group Limited (ASX:HT8) delivered a robust finish to FY26 with quarterly sales of $4.3 million, lifting the full-year total to $17.8 million – a 29% rise on FY25’s $13.8 million. The standout driver was the refurbished technology division, which now dominates the company’s revenue mix, contributing approximately 58% of Q4 sales ($2.5 million) and $7.8 million for the full year.

This refurbished segment not only grew its top line substantially but also improved profitability, boasting an average gross margin of around 36%, well above the legacy IT products category at 22%. The strategic pivot Harris Technology began 18 months ago has clearly paid off, with monthly refurbished sales nearly doubling from $530,000 in July 2025 to a record $966,000 in June 2026.

Cash Flow and Balance Sheet Highlights

Operationally, the company reported a positive operating cash flow of $0.1 million for the June quarter and $0.9 million year-to-date, signalling improving cash generation alongside sales growth. Harris Technology ended the quarter with $1.9 million in cash and $2.9 million in inventory, down from $3.7 million at the end of March, reflecting more disciplined inventory management.

The company also maintained prudent financial flexibility, with $1.8 million undrawn on its $3 million finance facility. Quarterly expenditure was dominated by inventory purchases ($3.03 million), with modest advertising spend ($6,000) and staff and corporate costs totaling $1.05 million.

Strategic Equity Conversion Boosts Partnership with FSP Technology

A key corporate development was the conversion of $897,000 worth of FSP Technology Inc preference shares into 44.87 million ordinary shares at $0.02 per share. This move not only increased Harris Technology’s equity base but also deepened ties with the Taiwanese global technology manufacturer, which has a market capitalisation near A$500 million and a strong reputation in power supplies and computer components.

CEO Garrison Huang highlighted the significance of FSP’s conversion as a vote of confidence in Harris Technology’s business model and growth strategy. He emphasised the company’s ambition to become Australia’s most trusted destination for refurbished technology by enhancing customer experience and loyalty programs, leveraging the scale and quality assurance capabilities built over recent years.

Outlook Hinges on Scaling Refurbished Tech and Customer Experience

Harris Technology’s results confirm the refurbished tech category as its growth engine, with the company now positioned to explore vertical integration opportunities and expand into additional product categories. The ongoing focus on improving the customer purchase and unboxing experience aims to differentiate the brand in Australia’s competitive e-commerce landscape.

While the company’s financials remain unaudited and no explicit forward guidance was provided, the positive cash flow, strengthened strategic partnership, and clear category leadership set a foundation for continued momentum. Investors will be watching how Harris Technology leverages these strengths to sustain growth and profitability in the evolving refurbished technology market.