SOCO Corporation Ltd (ASX:SOC), an Australian IT consultancy that solves business problems by applying and modernising IT systems to improve business processes, today announced a return to profitability in FY25 during the CEO’s address at the Annual General Meeting. The company highlighted revenue growth to $21.3 million, a 3.6% year-on-year increase, and a net profit after tax of $0.07 million, a significant improvement from the $0.49 million loss in FY24. Underlying EBITDA also improved to $0.21 million. Gross profit margin rose to 24.2%, up from 23.5%, driven by better pricing discipline and delivery efficiency. The Board elected not to declare a final dividend for FY25, prioritising growth and balance sheet flexibility.
CEO Sebastian Rizzo reflected on the company’s achievements, noting the expansion of the client base and the securing of strategic contracts, including a major new 3-year contract with a Federal Government agency. SOCO served 134 active clients by year’s end, up from 121 last year, and revenue was better balanced across sectors, with 64% of revenue now coming from non-Federal clients versus 59% in FY24. Investments in emerging technology offerings, such as AI and data analytics, and strategic alliances have strengthened SOCO’s market position. The company also maintained its close alignment with Microsoft, achieving 5 core Microsoft Solution Partner designations.
Looking ahead, SOCO aims to drive sustainable growth by diversifying its client base, expanding into high-potential markets, and increasing recurring revenue streams. The company will focus on disciplined execution and operational excellence, with a key initiative being the completion of a new project time-billing platform. SOCO is also committed to investing in its people and capabilities, including upskilling programs and the recruitment of key roles such as solution architects and business development managers. The company has identified specific industry verticals where its capabilities align strongly with client needs, including Defence Industry Suppliers.
SOCO will focus on retention and share expansion for its Federal and State Government clients. The company’s strategic priorities for FY26 span market and client focus, execution and delivery discipline, and growth enablers. The announcement was authorised for release by the Board of SOCO Corporation Ltd.
