Intuit Executive Marianna Tessel to Present at the Mizuho Technology Conference
The fireside chat will begin at 11:50 a.m. Pacific Time (2:50 p.m. Eastern Time) and will be available live via audio webcast on Intuit's investor relations website at https://investors.intuit.com/news-events. A replay of the webcast will be available approximately 24 hours after the presentation ends.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
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OMS Energy Technologies Inc. Announces Fiscal Year 2025 Financial Results
SINGAPORE, July 28, 2025 (GLOBE NEWSWIRE) -- OMS Energy Technologies Inc. ('OMS' or the 'Company') (NASDAQ: OMSE), a growth-oriented manufacturer of surface wellhead systems ('SWS') and oil country tubular goods ('OCTG') for the oil and gas industry, today announced its financial results for the fiscal year ended March 31, 2025. Fiscal Year 2025 Financial Highlights Total revenues in 2025 were $203.6 million, compared with $18.2 million for the period from April 1, 2023, through June 15, 2023, and $163.3 million for the period from June 16, 2023, through March 31, 2024. Gross margin in 2025 was 33.9%, compared with 27.6% for the period from April 1, 2023, through June 15, 2023, and 29.9% for the period from June 16, 2023, through March 31, 2024. Operating profit in 2025 was $59.9 million, compared with $3.2 million for the period from April 1, 2023, through June 15, 2023, and $40.2 million for the period from June 16, 2023, through March 31, 2024. Mr. How Meng Hock, Chairman and Chief Executive Officer of OMS, commented, 'We are extremely proud to report strong results for fiscal year 2025 in our first earnings announcement as a publicly listed company. Our double-digit revenue growth, expanded gross margin, and increase in operating profit are a direct result of our team's disciplined execution and commitment to delivering value across all areas of our business. We have also recorded several new customer wins and contract renewals since our IPO in May, further broadening and diversifying our revenue base. With our focus on long-term growth, we're entering fiscal 2026 with strong momentum and a clear strategy for continued innovation and expansion.' Mr. Kevin Yeo, Chief Financial Officer, added, 'Our fiscal 2025 financial performance reflects both top-line strength and meaningful margin improvement. Total revenues grew to $203.6 million, with gross margin reaching 33.9%. Operating profit increased to $59.9 million, highlighting our enhanced cost discipline and the benefits of growing economies of scale. Our net profit for the year was $47.0 million. When excluding a one-time $49.4 million bargain purchase gain recognized in fiscal 2024 related to the Management Buyout, our underlying profitability in 2025 demonstrates strong growth momentum. Supported by these solid fundamentals, a healthy balance sheet and loyal customer base, we remain confident of driving sustainable growth and building long-term shareholder value.' Fiscal Year 2025 Financial Results Total revenues. Total revenues in 2025 were $203.6 million, compared with $18.2 million for the period from April 1, 2023, through June 15, 2023, and $163.3 million for the period from June 16, 2023, through March 31, 2024. Specialty connectors and pipes. Revenues from sales of specialty connectors and pipes in 2025 were $143.1 million, compared with $5.1 million for the period from April 1, 2023, through June 15, 2023, and $113.5 million for the period from June 16, 2023, through March 31, 2024. This increase was primarily due to a significant increase in demand from one of the Company's major customers who had higher levels of business activities related to oil and gas production. Surface wellhead and Christmas tree equipment. Revenues from sales of surface wellhead and Christmas tree equipment in 2025 were $8.7 million, compared with $3.0 million for the period from April 1, 2023, through June 15, 2023, and $6.8 million for the period from June 16, 2023, through March 31, 2024. This decrease was primarily due to delayed demand from one of the Company's major customers in Indonesia, who is rationalizing their requirements as they plan for increased production to meet Indonesia's energy security plan, as well as a delayed shipment to the Middle East which will materialize in the fiscal year 2026. Premium threading services. Revenues from rendering of premium threading services in 2025 were $36.8 million, compared with $7.6 million for the period from April 1, 2023, through June 15, 2023, and $31.1 million for the period from June 16, 2023, through March 31, 2024. This slight decrease was primarily attributable to a relatively stable level of rig activities across oil and gas customers in the countries that drive demand for the Company's premium threading services. Other ancillary services. Revenues generated from other ancillary services in 2025 were $15.0 million, compared with $2.4 million for the period from April 1, 2023, through June 15, 2023, and $11.9 million for the period from June 16, 2023, through March 31, 2024. This increase was primarily due to greater customer demand for engineering testing, inspection and maintenance services. Cost of revenues. Cost of revenues in 2025 was $134.6 million, compared with $13.2 million for the period from April 1, 2023, through June 15, 2023, and $114.5 million for the period from June 16, 2023, through March 31, 2024. Gross profit. Gross profit in 2025 was $69.0 million, compared with $5.0 million for the period from April 1, 2023, through June 15, 2023, and $48.7 million for the period from June 16, 2023, through March 31, 2024. Gross margin in 2025 was 33.9%, compared with 27.6% for the period from April 1, 2023, through June 15, 2023, and 29.9% for the period from June 16, 2023, through March 31, 2024. The increase was mainly due to the growth in total revenues, as well as the benefits from economies of scale stemming from higher sales volume, sourcing productivity and an increase in the proportion of higher-margin services performed. Selling, general and administrative expenses. Selling, general and administrative expenses in 2025 were $9.1 million, compared with $1.8 million for the period from April 1, 2023, through June 15, 2023, and $8.6 million for the period from June 16, 2023, through March 31, 2024. The decrease was mainly due to a decrease in legal and professional fees, staff expenses and depreciation. Operating profit. Operating profit in 2025 was $59.9 million, compared with $3.2 million for the period from April 1, 2023, through June 15, 2023, and $40.2 million for the period from June 16, 2023, through March 31, 2024. Total other income/(expense), net. Total other income, net in 2025 was $0.2 million, compared with total other expense, net of $0.08 million for the period from April 1, 2023, through June 15, 2023, and total other income, net of $50.2 million for the period from June 16, 2023, through March 31, 2024. The change was primarily due to a non-recurring bargain purchase gain of $49.4 million related to the management buyout in the period from June 16, 2023, through March 31, 2024. Net profit. Net profit in 2025 was $47.0 million, compared with $2.4 million for the period from April 1, 2023, through June 15, 2023, and $82.1 million for the period from June 16, 2023, through March 31, 2024. Basic and diluted EPS. Basic and diluted earnings per share were both $1.18 in 2025, compared with $2.19 for the period June 16, 2023, through March 31, 2024. Balance Sheet and Cash Flow As of March 31, 2025, the Company's cash and cash equivalents and restricted cash totaled $75.8 million, compared with $45.4 million as of March 31, 2024. Net cash provided by operating activities was $40.5 million, compared with net cash used of $2.9 million for the period from April 1, 2023, through June 15, 2023, and net cash provided of $24.0 million for the period from June 16, 2023, through March 31, 2024. About OMS Energy Technologies Inc. OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company's 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers. For more information, please visit Safe Harbor Statement This press release contains statements that may constitute 'forward-looking' statements which are made pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to,' and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: OMS Energy Technologies RelationsEmail: ir@ Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050Email: oms@ Hui FanTel: +86-10-6508-0677Email: oms@ Unaudited Summary of Financial ResultsConsolidated Statements of Financial Positions For theyear endedMarch 31, 2025 For theyear endedMarch 31, 2024 US$'000 US$'000 Assets Current assets: Cash and cash equivalents 72,950 43,470 Restricted cash, current 1,692 1,593 Trade receivables 13,467 31,948 Contract assets 983 1,730 Inventories 32,546 30,689 Prepayment and other current assets 1,646 3,067 Amount due from a related party 1,584 1,585 Total Current Assets 124,868 114,082 Non-current assets: Restricted cash, non-current 1,189 367 Right-of-use assets 8,086 3,549 Property, plant and equipment 32,055 32,040 Intangible assets 42 126 Deferred tax assets 2,938 2,574 Prepayment and other non-current assets 1,327 694 Total Non-Current Assets 45,637 39,350 Total Assets 170,505 153,432 Liabilities Current Liabilities: Trade and other payables 15,070 47,535 Loans and borrowings — 6,504 Tax payable 8,200 6,669 Lease liabilities, current 1,187 741 Total Current Liabilities 24,457 61,449 Non-current Liabilities: Employee benefits obligation 827 751 Lease liabilities, non-current 6,096 1,843 Deferred tax liabilities 4,217 3,684 Other payables, non-current — 5,000 Provisions 321 351 Total Non-Current Liabilities 11,461 11,629 Total Liabilities 35,918 73,078 Equity Share capital 4 4 Share premium 72,648 67,648 Retained earnings 58,634 13,818 Accumulated other comprehensive loss (2,397 ) (4,441 ) Equity attributable to Shareholders of the Company 128,889 77,029 Non-controlling interests 5,698 3,325 Total equity 134,587 80,354 Total liabilities and equity 170,505 153,432 Consolidated Statements of Profit or Loss and Other Comprehensive Income Successor Successor Predecessor For theyear endedMarch 31, 2025 For the periodJune 16, 2023throughMarch 31, 2024 For the periodApril 1throughJune 15, 2023 US$'000 US$'000 US$'000 Revenue – third parties 203,607 163,267 16,967 Revenue – related parties — — 1,215 Total revenue 203,607 163,267 18,182 Cost of revenue – third parties (134,620 ) (114,525 ) (13,080 ) Cost of revenue – related parties — — (75 ) Total cost of revenue (134,620 ) (114,525 ) (13,155 ) Gross profit 68,987 48,742 5,027 Selling, general and administrative expenses (9,122 ) (8,574 ) (1,790 ) Operating profit 59,865 40,168 3,237 Bargain purchase gain — 49,429 — Other income/(expenses), net – third parties 246 775 (108 ) Other income, net – related parties — — 29 Total other income/(expenses), net 246 50,204 (79 ) Finance income – third parties 339 55 9 Finance income – related parties — — 65 Total finance income 339 55 74 Finance cost – third parties (284 ) (915 ) (38 ) Finance cost – related parties — — (162 ) Total finance cost (284 ) (915 ) (200 ) Profit before tax 60,166 89,512 3,032 Income tax expense (13,189 ) (7,424 ) (657 ) Net profit 46,977 82,088 2,375 Other comprehensive income/(loss): Items that will not be reclassified to profit or loss Foreign currency translation differences 2,258 (1,701 ) (610 ) Changes resulting from actuarial remeasurement of employee benefits obligation (2 ) (33 ) (9 ) Other comprehensive income/(loss), net of tax 2,256 (1,734 ) (619 ) Total comprehensive income 49,233 80,354 1,756 Net profit attributable to: Shareholders of the Company 44,816 80,880 1,867 Non-controlling interests 2,161 1,208 508 Net profit 46,977 82,088 2,375 Total comprehensive income attributable to: Shareholders of the Company 46,860 79,184 1,310 Non-controlling interests 2,373 1,170 446 Total comprehensive income 49,233 80,354 1,756 Basic and diluted weighted-average shares outstanding 37,822,500 36,900,000 Basic and diluted earnings per share (as adjusted) (US$) 1.18 2.19 Consolidated Statements of Cash Flows Successor Successor Predecessor For theyear endedMarch 31, 2025 For the periodJune 16, 2023throughMarch 31,2024 For the periodApril 1throughJune 15,2023 US$'000 US$'000 US$'000 Operating activities Net profit 46,977 82,088 2,375 Adjustments for: Income tax expenses 13,189 7,424 657 Depreciation of property, plant and equipment 2,711 3,800 251 Amortization of intangible assets 84 97 6 Depreciation of right-of-use assets 1,412 1,030 140 Loss/(gain) on disposal of property, plant and equipment 111 (357 ) — Allowance for/(reversal of) inventories obsolescence 571 (335 ) (6 ) Allowance for/(reversal of) expected credit losses 121 (3 ) — Finance costs 284 915 200 Finance income (339 ) (55 ) (74 ) Loss/(gain) on unrealized foreign exchange 493 (793 ) 134 Gain on bargain purchase — (49,429 ) — Changes in operating assets and liabilities: Trade receivables 18,975 (17,961 ) (2,727 ) Contract assets 764 (1,505 ) 1,139 Inventories (2,329 ) (20,817 ) (360 ) Prepayment and other assets 809 418 (1,219 ) Trade receivables due from related parties — 284 (428 ) Trade and other payables (32,239 ) 26,157 (2,224 ) Employee benefits obligation 59 11 24 51,653 30,969 (2,112 ) Cash provided by operations: Interest received 339 55 74 Income taxes paid (11,490 ) (6,979 ) (852 ) Net cash provided by/(used in) operating activities 40,502 24,045 (2,890 ) Investing activities Proceeds from sale of property, plant and equipment — 698 — Cash payment for management buyout — (2,000 ) — Acquisition of property, plant and equipment (2,863 ) (3,238 ) (1,200 ) Acquisition of intangible asset — (11 ) — Repayment from/(loan to) related parties — — 20,981 Amount due from a related party 1 (1,585 ) — Net cash (used in)/provided by investing activities (2,862 ) (6,136 ) 19,781 Financing activities Advances from potential investors — 5,000 — Proceeds from loans and borrowings — — 874 Proceeds from loans from related parties — — 8,845 Repayment of loans from related parties — — (28,038 ) Repayment of loans and borrowings (6,504 ) (3,874 ) — Interest paid (253 ) (211 ) (200 ) Payment of lease liabilities (1,302 ) (824 ) (197 ) Net cash (used in)/provided by financing activities (8,059 ) 91 (18,716 ) Effect of foreign exchange on cash, cash equivalents and restricted cash 820 (2,473 ) (75 ) Net increase/(decrease) in cash, cash equivalents and restricted cash 30,401 15,527 (1,900 ) Cash, cash equivalents and restricted cash at beginning of year/period 45,430 29,903 31,803 Cash, cash equivalents and restricted cash at end of year/period 75,831 45,430 29,903 Less: Restricted cash, non-current 1,189 367 1,150 Less: Restricted cash, current 1,692 1,593 1,087 Cash and cash equivalents at end of year/period 72,950 43,470 27,666
Yahoo
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Business Wire
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The Open Group Launches The Open Group Open Digital Transformation™ Forum
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