DXN FY26 revenue falls 33% despite record backlog

• DXN reported a 33% decline in annual revenue to $10.1 million due to project delays.
• The company maintains a cash balance of $11 million and an expanded backlog of $40 million.
• Management focuses on artificial intelligence infrastructure demand and international expansion to drive future growth.

DXN (ASX:DXN) delivered $10.1 million in revenue for the 2026 financial year, marking a 33% decline compared to the previous period due to customer project deferrals.

The lower full-year performance reflected first-half project delays that were partially offset by an acceleration in manufacturing and execution activity during the second half.

The company highlighted that early project wins across artificial intelligence infrastructure, aviation, and transport increased its total order backlog to $40 million by late August.

DXN stated that it expects to convert roughly 45% of its total backlog into revenue during the first half of the 2027 financial year.

Once the Malaysian and NSW facilities are operational, DXN will pursue further sites across Southeast Asia as part of our broader Asia-Pacific growth strategy.

Following the announcement, the DXN share price was unchanged at $0.37.

The business completed a $7 million capital raise during the period and established its first overseas manufacturing facility in Johor, Malaysia.

DXN also formed a joint venture with Super Sistem Indonesia and divested a non-core colocation data centre in Hobart for up to $520,000.