HighCom swings to half-year loss as revenue slumps 59%

XTEK Limited ( (AU:HCL) ) just unveiled an announcement.

HighCom Limited has reported a steep decline in performance for the half year to 31 December 2025, with revenue from ordinary activities falling 59% to $10.9 million compared with the prior corresponding period. The company swung from an EBITDA profit of $1.9 million to an EBITDA loss of $5.4 million and recorded a net loss after tax of $6.8 million, versus a $1.2 million profit a year earlier, while electing not to pay an interim dividend.

The deterioration in results was accompanied by a reduction in net tangible asset backing per share from $0.301 to $0.199 and basic earnings per share falling from 1.2 cents to a loss of 6.61 cents. The latest period’s loss includes a tax expense of $0.7 million related to its U.S. operations from prior years, underlining both the financial headwinds facing the business and the impact of legacy tax obligations on shareholder returns.

The most recent analyst rating on (AU:HCL) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on XTEK Limited stock, see the AU:HCL Stock Forecast page.

More about XTEK Limited

HighCom Limited, formerly XTEK, operates in the defence and security sector, supplying protective equipment and related technologies to military and law enforcement customers. The group focuses on armoured and ballistic protection solutions, with operations and revenue significantly linked to its U.S. business activities.

Average Trading Volume: 221,878

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$26.95M

For a thorough assessment of HCL stock, go to TipRanks’ Stock Analysis page.