SOCO Corporation Ltd (ASX:SOC), an Australian IT consultancy that solves business problems by applying and modernising IT systems, held its Annual General Meeting today. Chairman’s address highlighted a significant turning point for the company, noting a return to profitability and progress in diversifying its revenue base. Revenue reached $21.3 million, with improvements in underlying EBITDA and NPATA. A key focus has been diversifying the client base, with over 64% of revenue now originating from non-Federal Government clients, reducing concentration risk and expanding market exposure.
The company’s investment in the Microsoft ecosystem and early adoption of Generative AI were identified as strategic advantages, positioning SOCO as a partner for organisations undergoing digital transformation. Strong demand was reported for SOCO’s expertise in regulated and high-trust environments, particularly regarding security and compliance capabilities. The Board expressed encouragement regarding the expansion of panel memberships, deepening client relationships, and a healthy pipeline of opportunities, attributing these developments to the strength of the delivery model and the quality of its personnel.
Looking ahead to FY26, SOCO aims to further improve financial performance and remains confident in its strategic direction. While mindful of the macroeconomic environment, including shifting policy settings and variability in public sector demand, the company will maintain its focus on execution, delivering high-quality outcomes, maintaining pricing discipline, and investing in long-term capability. SOCO’s priorities include disciplined growth, recurring revenue streams, prudent risk management, and investment in areas of competitive advantage.
The Board also acknowledged the dedication and talent of its people, recognising culture as a key driver of performance and innovation. Investments in staff development, engagement, and well-being are ongoing to ensure SOCO remains a desirable workplace. The announcement was authorised for release by the Board of SOCO Corporation Ltd.
