OMS Energy Technologies Inc. Announces Fiscal Year 2025 Financial Results

SINGAPORE, July 24, 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 Relations
Email: [e-mail]

Piacente Financial Communications
Brandi Piacente
Tel: [phone]
Email: [e-mail]

Hui Fan
Tel: [phone]
Email: [e-mail]

Unaudited Summary of Financial Results Consolidated Statements of Financial Positions
		For the year ended March 31, 2025			For the year ended March 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
Total liabilities and equity		170,505			153,432

Consolidated Statements of Profit or Loss and Other Comprehensive Income
		Successor			Successor			Predecessor
		For the year ended March 31, 2025			For the period June 16, 2023 through March 31, 2024			For the period April 1 through June 15, 2023
		US$'000			US$'000			US$'000
Revenue - third parties		203,607			163,267			16,967
Revenue - related parties		-			-			1,215
Total revenue		203,607			163,267			18,182
Cost of revenue - third parties		(134,620	)		(114,525	)		(13,080	)
Cost of revenue - related parties		-			-			(75	)
Total cost of revenue		(134,620	)		(114,525	)		(13,155	)
Gross profit		68,987			48,742			5,027
Selling, general and administrative expenses		(9,122	)		(8,574	)		(1,790	)
Operating profit		59,865			40,168			3,237
Bargain purchase gain		-			49,429			-
Other income/(expenses), net - third parties		246			775			(108	)
Other income, net - related parties		-			-			29
Total other income/(expenses), net		246			50,204			(79	)
Finance income - third parties		339			55			9
Finance income - related parties		-			-			65
Total finance income		339			55			74
Finance cost - third parties		(284	)		(915	)		(38	)
Finance cost - related parties		-			-			(162	)
Total finance cost		(284	)		(915	)		(200	)
Profit before tax		60,166			89,512			3,032
Income tax expense		(13,189	)		(7,424	)		(657	)
Net profit		46,977			82,088			2,375
Other comprehensive income/(loss):
Items that will not be reclassified to profit or loss
Foreign currency translation differences		2,258			(1,701	)		(610	)
Changes resulting from actuarial remeasurement of employee benefits obligation		(2	)		(33	)		(9	)
Other comprehensive income/(loss), net of tax		2,256			(1,734	)		(619	)
Total comprehensive income		49,233			80,354			1,756
Net profit attributable to:
Shareholders of the Company		44,816			80,880			1,867
Non-controlling interests		2,161			1,208			508
Net profit		46,977			82,088			2,375
Total comprehensive income attributable to:
Shareholders of the Company		46,860			79,184			1,310
Non-controlling interests		2,373			1,170			446
Total comprehensive income		49,233			80,354			1,756
Basic and diluted weighted-average shares outstanding		37,822,500			36,900,000
Basic and diluted earnings per share (as adjusted) (US$)		1.18			2.19

Consolidated Statements of Cash Flows
		Successor			Successor			Predecessor
		For the year ended March 31, 2025			For the period June 16, 2023 through March 31, 2024			For the period April 1 through June 15, 2023
		US$'000			US$'000			US$'000
Operating activities
Net profit		46,977			82,088			2,375
Adjustments for:
Income tax expenses		13,189			7,424			657
Depreciation of property, plant and equipment		2,711			3,800			251
Amortization of intangible assets		84			97			6
Depreciation of right-of-use assets		1,412			1,030			140
Loss/(gain) on disposal of property, plant and equipment		111			(357	)		-
Allowance for/(reversal of) inventories obsolescence		571			(335	)		(6	)
Allowance for/(reversal of) expected credit losses		121			(3	)		-
Finance costs		284			915			200
Finance income		(339	)		(55	)		(74	)
Loss/(gain) on unrealized foreign exchange		493			(793	)		134
Gain on bargain purchase		-			(49,429	)		-
Changes in operating assets and liabilities:
Trade receivables		18,975			(17,961	)		(2,727	)
Contract assets		764			(1,505	)		1,139
Inventories		(2,329	)		(20,817	)		(360	)
Prepayment and other assets		809			418			(1,219	)
Trade receivables due from related parties		-			284			(428	)
Trade and other payables		(32,239	)		26,157			(2,224	)
Employee benefits obligation		59			11			24
		51,653			30,969			(2,112	)
Cash provided by operations:
Interest received		339			55			74
Income taxes paid		(11,490	)		(6,979	)		(852	)
Net cash provided by/(used in) operating activities		40,502			24,045			(2,890	)
Investing activities
Proceeds from sale of property, plant and equipment		-			698			-
Cash payment for management buyout		-			(2,000	)		-
Acquisition of property, plant and equipment		(2,863	)		(3,238	)		(1,200	)
Acquisition of intangible asset		-			(11	)		-
Repayment from/(loan to) related parties		-			-			20,981
Amount due from a related party		1			(1,585	)		-
Net cash (used in)/provided by investing activities		(2,862	)		(6,136	)		19,781
Financing activities
Advances from potential investors		-			5,000			-
Proceeds from loans and borrowings		-			-			874
Proceeds from loans from related parties		-			-			8,845
Repayment of loans from related parties		-			-			(28,038	)
Repayment of loans and borrowings		(6,504	)		(3,874	)		-
Interest paid		(253	)		(211	)		(200	)
Payment of lease liabilities		(1,302	)		(824	)		(197	)
Net cash (used in)/provided by financing activities		(8,059	)		91			(18,716	)
Effect of foreign exchange on cash, cash equivalents and restricted cash		820			(2,473	)		(75	)
Net increase/(decrease) in cash, cash equivalents and restricted cash		30,401			15,527			(1,900	)
Cash, cash equivalents and restricted cash at beginning of year/period		45,430			29,903			31,803
Cash, cash equivalents and restricted cash at end of year/period		75,831			45,430			29,903
Less: Restricted cash, non-current		1,189			367			1,150
Less: Restricted cash, current		1,692			1,593			1,087
Cash and cash equivalents at end of year/period		72,950			43,470			27,666