Core Insights - OMS Energy Technologies Inc. reported a record cash position of $128.7 million and significant strategic progress in international markets, indicating a strong long-term growth trajectory [1][4] - The company experienced a decline in total revenues to $82.8 million for the first half of fiscal 2026, primarily due to a normalization of call-off orders compared to exceptionally high volumes in the previous year [5][6] Financial Performance - Total revenues for the first half of fiscal 2026 were $82.8 million, down from $129.2 million in the same period of 2025, attributed to high call-off orders in Saudi Arabia in the prior year [5][6] - Gross margin remained healthy at 28.2%, despite a decrease from 33.3% in the previous year, reflecting continued cost discipline and operational efficiency [10] - Operating profit was reported at $17.9 million with a 21.6% operating margin, showcasing the company's resilient business model [6][11] - Net profit decreased to $14.6 million from $30.7 million in the same period last year, influenced by a strong base period driven by high call-off volumes [13][14] Cash Flow and Balance Sheet - The company generated $26.4 million in net cash from operating activities, contributing to a record cash balance of $128.7 million as of September 30, 2025, up from $75.8 million in March 2025 [15][16] - The increase in cash was also supported by net proceeds of $28.9 million from the initial public offering [15] - OMS maintained a conservative balance sheet with ample liquidity to support future investments and global expansion [16] Market Expansion and Strategic Partnerships - OMS expanded its global footprint through new partnerships in Angola and Pakistan, and strong performance in Indonesia, Egypt, Oman, and the UAE [2] - The company secured a renewed three-year agreement with PTTEP in Thailand, reinforcing its leadership position in the region [2] - Marketing efforts in Indonesia are attracting new customers, contributing to steady growth in sales of surface wellhead and Christmas tree products [2][4]