EPX Boosts Contract Value to $18M Amid UAE Healthcare Expansion

Quarterly Performance Overview

EPX Limited has released its quarterly operating update for the period ending 30 September 2025, revealing a net increase in Annual Contract Value (ACV) to $18.0 million. This growth comes despite the removal of approximately $0.4 million in ACV following a court-enforced settlement with a nonperforming customer in the UAE. The settlement, which resulted in a cash payment of around A$0.5 million, allowed EPX to terminate the underperforming contract and focus on more promising opportunities.

Revenue and Site Expansion

Annual Recurring Revenue (ARR), a key indicator of billable recurring income, edged up from $15.5 million in June 2025 to $15.7 million in September. This steady increase reflects the company’s ongoing success in converting contracted potential revenue into actual recurring income, aided by efficient installation timelines that meet internal targets of 90 days or less.

Site numbers also saw growth, rising from 740 to 759 globally, spanning over 25 countries. Notably, this expansion includes 10 new hospitality sites in the UAE and 12 commercial retail and office sites primarily in Australia. The slight reduction of three sites relates to the terminated UAE contract, underscoring the company’s commitment to maintaining a healthy and productive portfolio.

Strategic Wins and Sector Diversification

Among the quarter’s highlights are significant new contract wins. EPX secured ACV worth approximately A$0.7 million from a partnership with a leading UAE healthcare organisation involving 10 hospitals. This marks an important entry into the healthcare vertical, a sector the company’s CEO John Balassis described as “quite exciting” given its growth potential and impact on commercial property needs.

Additional wins include contracts with an Australian independent property developer covering 11 sites and further expansion with First Bus, part of FirstGroup PLC, adding two more sites. These developments reflect the company’s strategic focus on diversifying its customer base and strengthening its presence in key markets.

Operational Efficiency and Outlook

EPX continues to operate within its efficiency targets, maintaining an ARR per full-time equivalent employee of approximately $200,000. This metric highlights the company’s disciplined approach to scaling revenue alongside workforce growth.

CEO John Balassis expressed cautious optimism about the quarter’s results, noting that investments in sales and marketing are beginning to bear fruit. He emphasized the importance of operational discipline while pursuing growth, particularly in converting the sales pipeline into tangible contracts.

EPX’s proprietary EDGE cloud platform remains central to its value proposition, delivering data-driven insights that reduce energy consumption and costs across a vast portfolio of buildings. With over 700 buildings under management and more than 5.6 billion data points analysed annually, the company is well positioned to capitalize on the growing demand for energy-efficient building solutions.