Seems like a decent result from Energy One.

Revenue up 14% to $28.8M with a return to profitability ($2.46M NPAT vs. a prior loss). Growth seems driven by recurring revenue and improving margins, which is always nice to see.

Also good to see them add 47 new customer installations, with some cross-sell success.

Their guidance suggests continued organic growth with a 15-20% ARR target and further margin expansion. The second half is expected to be stronger, but they didn’t provide specific forecasts.

The cash balance is $2.5m against $15.5m in debt, most of which matures in just over two years. They are operating cash flow positive (+$4.4M in H1), but after investment and debt repayments, there's not a huge amount of wriggle room.

Forward PE is ~46x, which is high, but if they can sustain double-digit revenue growth and margin expansion, that multiple should drop quickly. Doesn’t seem like the price is silly to me, assuming they continue to drive top line growth and margin expansion.

Congrats to EOL holders -- it's been a tough run of late, but news of a potential takeover does help validate the view that there was good value to be had.

I saw this on Twitter today, which some might find helpful:

https://twitter.com/brody_fn_/status/1695965151508222347

Energy One has been hit by a cyber attack.

ASX announcement:

Details are rather thin. Is this a loss of customer data, or has it impacted the operations of clients? Depending on the severity of things, it could mean a knock to reputation.

We'll have to see what the investigation turns up. Seems like it's still an ongoing issue.

I've been a bit tardy on adding some notes to our Energy One Deep Dive, but a friend pointed out that the company has a recent presentation following their FY results.

You can watch here: https://www.energyone.com/investors/investorpresentation/