SIV Capital posted a 244% increase in net loss for FY26 to $388,049 on a 33% revenue drop, with its legacy rental business winding down and ASX suspension ongoing. The company is pursuing a new transaction to regain listing approval.
- Statutory loss widened to $388K in FY26
- Revenue declined 33% to $362K
- Legacy GoGetta rental contracts reduced to two
- Securities suspended since December 2024
- New ASX in-principle advice application lodged for relisting
Financial Results Highlight Continued Operational Decline
SIV Capital Limited (ASX:SIV) recorded a statutory loss of $388,049 for the year ended 30 June 2026, marking a 244% increase from the prior year’s loss of $112,789. Revenue fell by a third to $362,325, reflecting the ongoing wind-down of its legacy GoGetta rental business, which now has only two live contracts remaining. Earnings per share dropped to a negative 0.8 cents, compared to a 0.2 cent loss in FY25.
Legacy Rental Business Nears Completion
The GoGetta equipment rental operations, once the core of SIV Capital’s activities, continue to shrink with no new rental asset acquisitions during the year. The company’s loss before tax primarily reflects rental income, bad debts, proceeds from asset sales, bank interest, and scaled-down corporate expenses. Despite the decline, the company remains debt free except for normal trade creditors and modest customer security bonds.
Robust Cash Position Supports Going Concern
At 30 June 2026, SIV Capital held $7.8 million in cash and deposits, a slight decrease from $8.2 million the previous year. Net assets stood at $7.8 million. The directors reaffirmed the company’s ability to continue as a going concern, supported by its cash reserves and ongoing legal recoveries related to outstanding debts. No dividends were declared for FY26 or the prior year.
ASX Suspension Persists as Relisting Plans Progress
SIV Capital’s shares have been suspended from trading since December 2024 due to ASX concerns over inadequate operations. The company’s previous attempt to gain ASX admission was halted in June 2026 after the exchange indicated a significant likelihood of failing to meet listing rule 1.1 condition 1. In response, SIV Capital swiftly sought alternative opportunities and lodged a new application for in-principle advice with the ASX in August 2026, accompanied by a non-binding term sheet for a proposed transaction aimed at relisting. Details remain confidential pending ASX approval.
Governance and Remuneration Stable Amid Transition
The board, led by Non-Executive Chairman Allan English AM, maintained consistent governance standards, endorsing ASX Corporate Governance Principles while acknowledging limited compliance due to the company’s scale. Directors’ remuneration remained steady, with fees unchanged since December 2022. No material contracts or transactions involved key management personnel during the year.
Audit and Financial Integrity
Hall Chadwick QLD audited the financial statements, issuing an unqualified opinion with no key audit matters identified. The audit committee approved a two-year extension for the lead audit partner, citing continuity benefits. The company carries substantial tax losses totaling $91.3 million, with no deferred tax assets recognized due to uncertainty over future profitability.
Bottom Line?
SIV Capital’s financials reflect a company in transition, balancing legacy business wind-down with cautious steps toward relisting, leaving investors to watch closely for ASX approval and strategic clarity.
Questions in the middle?
- Will the proposed transaction secure ASX approval and end the suspension?
- How will SIV Capital deploy its substantial cash reserves if relisting succeeds?
- What is the timeline and strategic plan beyond the legacy rental business?