Nuix Limited delivered strong FY26 financial results that underscore its transformation into a higher-margin, faster-growing business. Revenue reached $263.2 million, up 18.8% year-over-year, while the company achieved material expansion in profitability with Adjusted Management EBITDA surging 60.4% to $59.8 million. More importantly, revenue growth significantly outpaced cost growth, the strategic objective the company set out to achieve, indicating improving operating leverage across the business and a transition toward sustainable, profitable growth at scale.
The standout performance came from Nuix Neo, the company’s next-generation platform, which grew annualised contract value 179% to $78.5 million with 135 customers now on the platform. Nuix Neo now represents 30% of total ACV and has become the primary growth engine. This trajectory validates the company’s decision to migrate its customer base to its modern architecture, a multi-year initiative that removes legacy technical debt while opening new revenue expansion opportunities through upsells to existing customers and land-and-expand motions with new logos. Strong Net Dollar Retention of 105.2% indicates that customers are increasing spend within existing contracts, a sign of both platform stickiness and successful upsell execution.
Cash generation accelerated dramatically, with underlying cash flow up 154% to $51.0 million, a figure that tracks the company’s stated objective to convert revenue growth into cash returns. Net cash on the balance sheet grew 24.8% to $49.9 million, providing a financial buffer to fund the integration of Linkurious, the European data discovery and graph analytics platform acquired during the year, without compromising capital returns to shareholders or balance sheet flexibility.
Beyond the financial metrics, Nuix has repositioned itself for the next phase of growth. The company restructured its go-to-market function with new commercial leadership, shifting focus from feature selling to articulating platform value. Product and technology teams are now unified under a single CTO, aimed at strengthening delivery and platform alignment. The company is also investing in advanced AI capabilities to drive internal productivity while building a defensive moat around its core offering in an increasingly competitive market.
Investors should monitor the Linkurious integration closely, particularly the pace of cross-sell success into Nuix’s existing customer base, which could accelerate total ACV growth beyond organic rates. The sustained momentum in Nuix Neo migration, evidenced by the platform capturing 30% of ACV, will be another critical watchpoint as it suggests customers value the modernised architecture. The company has flagged one-off R&D investment in FY27 to strengthen platform capability, which may pressure near-term margins but could unlock longer-term competitive positioning. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Nuix Limited (ASX: NXL)
Nuix Limited is a software company that provides investigative analytics and intelligence software solutions for discovering insights from large amounts of structured and unstructured data. The company serves government agencies, corporations, law enforcement, and professional service firms globally with products including the Nuix Neo Platform, Nuix Discover, Nuix Investigate, and Nuix Workstation. It operates across the Asia Pacific, the Americas, Europe, the Middle East, and Africa, with headquarters in Sydney, Australia.
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