Azzet reports on three stocks with price moving updates today.
Nuix soars on 1H FY26 update ~
Shares in Nuix (ASX: NXL) were trading 12.9% higher by 1:50 pm AEDT (2:50 am GMT) after the investigations software company declared a strong 1H FY26 result underpinned by a return to profitability and massive growth in its cloud-based Nuix Neo which grew annualised contract value (ACV) 148% to $46.8 million and now accounts for one-fifth of total ACV.
Well up on consensus expectations, net profit for the half was $11.1 million, compared to a loss of $10.4 million last year, while revenue increased to $121.2 million, up 15.2%.
Total ACV - the company’s preferred measure of growth - increased 8.4% to $234.4 million.
Commenting on today’s update, management flagged AI-integrated Neo capabilities as a structural competitive advantage and maintained the company’s full-year ACV guidance range of $240 million to $260 million.
Interim CEO John Ruthven acknowledged admitted to investors that a decline in its net dollar retention figure was below expectations.
Measuring the percentage of recurring revenue retained from existing software subscriptions - net dollar retention - fell to 101% a decrease from 109.6% recorded in the prior year.
Ruthven attributed the drop to a few large customers reducing the size of their commitments.
These contract downgrades offset upsell activity in other areas of the business.
Nuix had a particularly high upsell base in the previous period last year, making this year’s comparison less favourable.
Ruthven also reminded the market that the rapidly evolving artificial intelligence (AI) landscape presents both challenges and opportunities for enterprise software companies.
“Nuix is well positioned to capitalise on these dynamics through our BYO AI framework, which allows customers to integrate their preferred AI models whilst Nuix Neo provides the critical enterprise infrastructure required by regulated industries.”
Other key 1H numbers announced today include:
- Underlying cash flow more than quadrupled to $28.4 million, lifting the cash balance to $57.8 million.
- EBITDA up 42.6% to $19.1 million, statutory EBITDA up 72.7%.
- No dividends were declared for the period.
- EMEA leading growth at 18.8% to reach $62.8 million in ACV.
- North America grew 10.8% to $127.4 million.
- Asia Pacific region contracted 8.6% to $44.2 million, representing a headwind to overall growth.
- Customer churn improved to 5.9% from elevated levels of 7.1% in FY25.
While Nuix faces headwinds in customer retention metrics, the company’s product roadmap for FY26 outlines potential expansions across AI functionality, solutions development, dashboards and visualization, and deployment options.
Key initiatives include semantic search, AI interactive chat, BYO AI models integration, and enhanced cloud and SaaS deployment capabilities.
The stock has been bouncing lower from $3.07 late October when it told the market that Jonathan Rubinsztein was stepping down as CEO.
Nuix has a market cap of $532 million; the share price is down 66% in one year and up 15% in the last week.
The stock’s shares appear to be in a long-term bearish trend confirmed by multiple indicators.
Consensus is Moderate Buy.
Minerals 260 rallies after securing a $220 million funding package
Shares in Minerals 260 (ASX: MI6) were trading 25% higher after the gold, copper, and base metals explorer outlined plans for a significant new equity issuance of ordinary fully paid shares on the ASX.
Scheduled for 26 February 2026, the proposed placement is expected to help expand the company’s capital base and may provide additional funding flexibility for its exploration and development programs.
Despite the potential for dilution from a new equity issuance, the market has responded favourably to an announced a $220 million financing package with gold royalty leader Franco-Nevada.
Franco-Nevada has committed to subscribing for 111,111,111 shares at $0.45 per share, totalling $50 million.
As this issue price was a premium over the previous close of $0.42.
The package also includes a $170 million royalty acquisition.
Commenting on today’s update, Minerals 260 managing director, Luke McFadyen, told the market that securing a $220 million funding package with the world’s leading gold royalty company at this early stage of Bullabulling’s development will allow it to accelerate the Project towards production, expand exploration strategy and de-risk our funding pathway.
“Franco-Nevada is an existing royalty holder and expanding our relationship with this financing is highly value accretive relative to other available funding options. Their extensive due diligence across all areas of the Project validates Bullabulling as one of the leading gold projects in Australia.”
While some analysts have previously flagged dilution and funding risk as a source of potential downward pressure, others view the massive "endorsement" of the Bullabulling Gold Project - which has a 4.5 million-ounce resource – as fundamentally positive.
Minerals 260 recently acquired the Bullabulling Gold Project - a large-scale, open-pit operation located approximately 65km west of Kalgoorlie, WA - from a subsidiary of Zijin Mining.
The project is currently being fast-tracked toward production as one of Australia’s largest undeveloped gold deposits.
Included in Bullabulling’s new resource estimate is a maiden resource for the Gibraltar deposit – located approximately 3 kilometres east of Kraken – totalling 5.4Mt at 1g/t gold for 180,000oz.
Commenting on the resource upgrade last December, McFadyen told the market that the Bullabulling resource upgrade was an “exceptional” outcome for the company.
“When we acquired this asset, we believed there was a significant opportunity to grow the resource estimate through an aggressive drilling campaign and improving the understanding of the geology,” he said.
Minerals 260 has a market cap of $1 billion; the share price is up 294% in one year and 29% in the last week.
The stock share price has been trending higher over the longer-term as evidenced by the positive slope of its 200-day moving average.
However, the near-term picture is less than positive as the 5-day moving average is below the 50-day moving average.
Consensus is Strong Buy.
Perenti tanks after lower earnings guidance.
Shares in Perenti (ASX: PRN) were trading 14.5% lower this afternoon after the diversified mining services group delivered a mixed 1H result, which included a trimming of guidance for FY26.
While revenue for the 1H period came in at $1.73 billion and underlying earnings lifted 3% to $160.1 million, FY26 guidance has been tightened due to the rising A$ to US$ exchange rate.
Since many of its contracts (especially in Africa) are paid in U.S dollars but reported in Australian dollars, the strengthening A$ (rising from 65¢ to 71¢) has clearly pared back expected earnings.
Revenue for the year is now expected to be between $3.45 billion and $3.55 billion, narrowing from between $3.45 billion and $3.65 billion, while earnings guidance has narrowed to $335 million to $350 million, from a previous range of $335 million to $355 million.
Despite these issues, management attempted to signal confidence by increasing the interim dividend by 8% to 3.25 cents per share.
Commenting on today’s updates, management told the market that it remained confident in the outlook, with the support of an improving market and a strong pipeline of opportunities.
Perenti has delivered another consistent first-half result and is positioned to deliver a strong FY26,” said CEO Mark Norwell, noting earnings would be weighted to the second half.
Norwell pointed the market to an improved earnings margin to 9.3% compared to 9.0% in 1H25, partially due to a successful demobilisation from an underperforming underground project in Botswana and a shift towards other higher-performing projects.
Other key numbers announced today:
- Adjusted Free Cash Flow: $33.1 million, on target to meet FY26 guidance.
- Underlying EPS: 9.8 cents per share, a 12% increase on 1H25.
- Statutory NPAT: $70.5 million, an 11% increase on 1H25.
- Underlying NPAT(A): $91.8 million, a 12% increase on 1H25.
- Statutory NPAT: $70.5 million, an 11% increase on 1H25.
- Net debt $385.3 million, with leverage of 0.6x based on last twelve months’ EBITDA.
- Work in hand was $5.8 billion at 31 December 2025, and the group has flagged visibility on a significant pipeline of opportunities totalling $18.6 billion.
In February 2026, Barminco USA received a Letter of Intent from Barrick at its Fourmile Project in Nevada for early work readiness activities, with project commencement expected in FY27.
Perenti has a market cap of $2.3 billion; the share price is up 78% in one year and down 14% in the last month.
While the stock’s 200-day moving average is trending upwards, the 20-day moving average is falling as upward momentum wanes.
Consensus is Moderate Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
