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 ir.omsos.com.

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 Inc.Investor RelationsEmail:

Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050Email:

Hui FanTel: +86-10-6508-0677Email:

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