Electro Optic Systems Holdings Limited · ASX:EOS
Electro Optic Systems — FY2025 Earnings Presentation
34 slides from Electro Optic Systems's earnings presentation, Feb 23, 2026
Slide 1: 2025 Full Year Results
THE COUNTER DRONE COMPANY ELECTRO OPTIC SYSTEMS (ASX:EOS) 2025 FULL YEAR RESULTS DR. ANDREAS SCHWER, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER CLIVE CUTHELL, CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER 23 FEBRUARY 2026 APPROVED FOR RELEASE BY THE BOARD OF DIRECTORS eos-aus.com
Slide 2: Disclaimer and Important Notices
DISCLAIMER AND IMPORTANT NOTICES CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY This presentation was prepared as at 23 February 2026 and is based on information available at that time, unless noted otherwise. Forward-looking Statements This presentation may contain statements that are, or ma
Slide 3: Disclaimer and Important Notices
DISCLAIMER AND IMPORTANT NOTICES Presentation of Information All financial information has been prepared in accordance with Australian Accounting Standards. Certain financial data included in this presentation is ‘non IFRS financial information’. The Company believes that this non IFRS financial inf
Slide 4: Agenda
AGENDA 2025 SUMMARY → 2025 Highlights → Market Conditions → Growth Expansion → Order Book → Sales Pipeline FINANCIAL RESULTS → Financial Performance → Divisional Performance → Cashflow GROWTH OPPORTUNITIES AND OUTLOOK → Strategy → Future Growth Opportunities → Summary and Outlook Electro Optic Syste
Slide 5: EOS Leadership Team
EOS LEADERSHIP TEAM Our Leadership Team has deep industry experience and is focused on sustainable growth → Over 20 years as CFO in global → Proven track record in industrial businesses international business → Previously with Rinker Group / development Holcim 9 years, Nuplex 3 years → Held several
Slide 6: 2025 Summary
THE COUNTER DRONE COMPANY 2025 SUMMARY DR. ANDREAS SCHWER, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER Electro Optic Systems 6
Slide 7: 2025 Highlights Strategic & Operational
2025 HIGHLIGHTS STRATEGIC & OPERATIONAL 2025 was the final year of EOS’ 3-year turnaround program. We have commercialised new products, strengthened the order book and established a strong growth platform STRONG STRATEGIC ENHANCED MARKETS FOCUS SALES CAPABILITY → Global tensions and → EOS is focused
Slide 8: Recent Highlights
RECENT HIGHLIGHTS 2025 was the final year of EOS’ 3-year turnaround program. A strong foundation for future growth has been established. 2025 RESULTS REVENUE GROSS MARGIN %1 UNDERLYING EBITDA2 TOTAL NPAT $128.5m 63% $(24.4)m $17.5m down 27% or $48.1m on 2024 up 15% on 2024 down $12.8m on 2024 Includ
Slide 9: 2025 Highlights
2025 HIGHLIGHTS In 2025 we strengthened the balance sheet and grew and diversified the order book with several contract wins Secured new US$21m (A$32m) RWS contract for Defence Systems South American user contracts totaling $8m; Announced EOS Space Systems New EOS Space successful LAND New Slinger R
Slide 10: Market Conditions
MARKET CONDITIONS Ongoing geopolitical tensions and rapidly evolving technology have created a defence industry growth super-cycle GEOPOLITICAL CHANGES RAPID TECHNOLOGY CHANGES REGIONAL TENSIONS DRONES AND AI DEFENCE INDUSTRY GROWTH SUPER-CYCLE US and Rest of NATO Defence Spending as % of GDP Under
Slide 11: The Rise of Drone Warfare
THE RISE OF DRONE WARFARE Militaries and other services are challenged by the drone threat; demand for counter-drone solutions is growing rapidly RUSSIAN DRONE AND MISSILE STRIKES ON UKRAINE Electro Optic Systems 11
Slide 12: Counter-Drone Success Requires a Layered Response
COUNTER-DRONE SUCCESS REQUIRES A LAYERED RESPONSE EOS has a wide range of effectors for multi-layered counter-drone systems We aim to enhance this with the announced acquisition of MARSS’ and its NiDAR Command & Control system 1 KM 2 KM 3 KM 4 KM 5 KM 6 KM 7 KM 8 KM 9 KM 10 KM 50-100 KM WEAPON / RAN
Slide 13: Growth Expansion: Global Defence Primes and End Users
GROWTH EXPANSION: GLOBAL DEFENCE PRIMES AND END USERS EOS works with high quality customers and end-users to meet their exacting demands SELECTION OF EOS PRODUCT INTEGRATIONS SELECTION OF EOS END-USERS Redback Infantry Fighting Vehicle VAMPIRE Counter-Drone System Kinetic Defence Vehicle Prototype M
Slide 14: Growth Expansion: Product Partnerships
GROWTH EXPANSION: PRODUCT PARTNERSHIPS Market access is critical: EOS partners with established defence industry leaders to meet end-user requirements → In February 2025, EOS signed a → In September 2025, EOS sigend a → In February 2026, EOS announced a → In February 2026, EOS announced a strategic
Slide 15: Growth Expansion: High Energy Laser Weapon
GROWTH EXPANSION: HIGH ENERGY LASER WEAPON Growth on track - New factory opened, Netherlands launch contract well underway, sales opportunity pipeline growing rapidly PRODUCTION CAPACITY EXPANSION → Formal opening of Singapore manufacturing facility on 6 February 2026 → Leased 20,000 sq ft, capable
Slide 16: Space Warfare – EOS ATLAS Product Family
SPACE WARFARE – EOS ATLAS PRODUCT FAMILY We launched the ‘ATLAS’ brand during 2025 and are developing effectors to engage from ground against objects in space ATLAS products are being designed and developed to perform the following missions: → Blinding/Dazzling Satellite Sensors → Disabling/Defeatin
Slide 17: EOS Is Focused on Growing Its Order Book
EOS IS FOCUSED ON GROWING ITS ORDER BOOK We will continue to use a structured approach to convert a strong market into realised, unconditional order book growth MARKETS PRODUCTS SALES & MARKETING ORDER BOOK → Global military spending → Recent launch of the R500, → Step-change in sales → Uncondition
Slide 18: Order Book Development
ORDER BOOK DEVELOPMENT EOS’ Unconditional Order Book at 31 Dec 2025 is $459m, up $323m on last year. We aim to realise 40-50% of this in 2026. Recent Contract Wins Unconditional Order Book – 31 December 2025 ($mil) 459 Contract Region Value (A$m) Date 14 SLINGER COUNTER-DRONE RWS Europe 53 May 2025
Slide 19: Business Development Update
BUSINESS DEVELOPMENT UPDATE EOS continues to develop a deep and diversified pipeline of sales opportunities. HELW opportunities are growing strongly. MARSS C2 opportunities are incremental to the table below and will be added when the transaction is completed. OPPORTUNITY MATURITY Maturity Descripti
Slide 20: Summary of MARSS Acquisition
SUMMARY OF MARSS ACQUISITION EOS expects MARSS to be a transformational acquisition that creates significant technology opportunities STRATEGIC RATIONALE → Increased software capability – advanced AI technology 2-1km → Turns EOS into a systems house >6km 8- → Cross selling of systems & effectors (RW
Slide 21: 2025 Financial Results
THE COUNTER DRONE COMPANY 2025 FINANCIAL RESULTS CLIVE CUTHELL, CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER eos-aus.com
Slide 22: 2025 Financial Performance
2025 FINANCIAL PERFORMANCE 2025 marks the final year of EOS’ 3-year turnaround program and there is a strong foundation for future growth A$M 2025 2024 VAR Revenue (continuing operations), A$m 176.6 Continuing Operations 162.0 128.5 Revenue 128.5 176.6 (48.1) 109.4 71.1 107.8 Gross Margin %1 63% 48%
Slide 23: 2025 Segment Performance
2025 SEGMENT PERFORMANCE A$M (CONTINUING OPERATIONS) 2025 2024 VAR DEFENCE Revenue 115.8 165.7 (49.9) SYSTEMS Underlying EBITDA1 (incl. corp allocations) (24.6) (8.6) (16.0) → Revenue decreased by 30% on prior corresponding period largely due to lower activity as previous contracts ended. The order
Slide 24: 2025 Cashflow
2025 CASHFLOW During 2025 all borrowings were repaid. The focus on cash discipline will continue A$M 2025 2024 VAR Operating cash flow includes: Disciplined approach will continue: Receipts from customers 194.6 261.1 (66.5) → A final contract receipts from a Middle → Dec 25 includes $42.4m advance P
Slide 25: Conclusion
THE COUNTER DRONE COMPANY CONCLUSION DR. ANDREAS SCHWER, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER eos-aus.com
Slide 26: Executing on Strategic Agenda
EXECUTING ON STRATEGIC AGENDA EOS is commercialising IP in Counter-Drone and Space Control, while exercising capital discipline COUNTER DRONE ANNOUNCED : ACQUISITION OF HIGH ENERGY LASER WEAPONS MARSS AI-ENABLED C2 NiDAR → Developed and tested system in REMOTE WEAPON SYSTEMS 2023 & 2024 → Commercial
Slide 27: Growth Strategy
GROWTH STRATEGY EOS is well positioned to grow sustainably in the short and longer terms ROBUST ORGANIC GROWTH OPPORTUNITIES: 1-3 YEARS 2-5 YEARS 3-10 YEARS DEFEND & GROW NURTURE SEED → Remote Weapons Systems → Counter-Drone variants → AI-enabled C2 for counter-drone defence SPACE CONTROL → Regional
Slide 28: Summary and Outlook
SUMMARY AND OUTLOOK EOS has continued to execute its growth strategy. Markets are very strong and we plan to continue growing REMOTE WEAPONS SYSTEMS HIGH ENERGY LASERS SPACE INTELLIGENCE AND CONTROL MARSS C2 NiDAR SUMMARY → Market conditions remain supportive → Focused growth strategy - Counter-Dron
Slide 29: Thank You for Your Interest
THE COUNTER DRONE COMPANY THANK YOU FOR YOUR INTEREST
Slide 30: Appendices
THE COUNTER DRONE COMPANY APPENDICES
Slide 31: Reconciliation of Statutory Profit / (Loss) and Non-GAAP Measures
RECONCILIATION OF STATUTORY PROFIT / (LOSS) AND NON-GAAP MEASURES A$M (CONTINUING OPERATIONS) 2025 2024 (Loss) for the period (73.5) (35.1) Income tax (benefit) (5.5) (3.3) (Loss) before tax (79.0) (38.4) Finance costs 18.7 24.6 Foreign exchange loss/(gain) 7.3 (11.6) Underlying EBIT (loss) (before
Slide 32: 2025 Segment Performance
2025 SEGMENT PERFORMANCE A$M (CONTINUING OPERATIONS) 2025 2024 VAR. Revenue Defence Systems 115.8 165.7 (49.9) Space Systems (excl. EM Solutions) 12.7 10.9 1.8 Total 128.5 176.6 (48.1) Underlying Divisional EBITDA (Loss) / Profit Defence Systems (24.6) (8.6) (16.0) Space Systems (excl. EM Solutions)
Slide 33: MARSS Acquisition Transaction Summary
MARSS ACQUISITION TRANSACTION SUMMARY - ANNOUNCED 12 JAN 2026 Upfront cash payment plus Earn Out tied to Order Intake. Earn out capped at €100m for €500m of orders → EOS to acquire the business of MARSS, a Europe-based provider of C2 systems for counter-drone use TRANSACTION OVERVIEW → Asset purchas
Slide 34: The Counter Drone Company
+E0s THE COUNTER DRONE COMPANY
Electro Optic Systems Holdings — FY2025 Earnings Presentation on 6ix