Nuix (ASX: NXL) has reported steady growth for the first half of FY25, with Annualised Contract Value (ACV) increasing by 8.3% to $216.2 million and statutory revenue rising 6.9% to $105.2 million. The company also delivered a notable 30.6% surge in Cash EBITDA to $13.4 million, reflecting disciplined financial management and continued investment in innovation. However, a shift toward larger, more complex contracts led to an extended procurement cycle, impacting short-term growth expectations.
While statutory net profit after tax (NPAT) fell to a loss of $10.4 million—largely due to ongoing legal costs and restructuring expenses—Nuix maintained underlying cash flow positivity, increasing it to $7.0 million. The company ended the half-year with a solid cash balance of $30.7 million, positioning it well for future growth.
A key highlight was the strong momentum of Nuix Neo, the company’s next-generation platform. Neo’s ACV skyrocketed 361% year-over-year to $18.9 million, with its customer base expanding from 8 to 46. The platform’s growing adoption underlines Nuix’s strategic shift toward enterprise-level contracts, which are expected to drive long-term revenue expansion.
CEO Jonathan Rubinsztein acknowledged the near-term impact of longer sales cycles but remained confident in Nuix’s direction. “We are deliberately targeting larger, enterprise-style contracts to unlock significant value for our customers. While this shift has extended procurement timelines, it positions us well for sustainable long-term growth,” he said.
With its focus on innovation, increasing ACV, and expanding Nuix Neo adoption, the company is optimistic about delivering stronger results in the second half of the fiscal year.
