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SOCO Corporation Ltd (ASX:SOC)

ALERT: Price-sensitive ASX Announcement for SOC
Current share price for SOC : $0.040 -0.016 (-28.57%)+
Announcement
Release
27 Feb 2026 3:40PM
Price at Release
$0.056
Full Release
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Summary
SOCO Corporation Ltd released its half-yearly report for the period ending 31 December 2025, highlighting a challenging financial performance. The company reported a net loss after tax of $5,934,308 compared to a loss of $150,885 in the previous corresponding period, significantly impacted by a non-cash goodwill impairment of $4,610,284. Revenue decreased by 12% to $9,706,654, primarily from IT consulting services and software licenses. SOCO undertook restructuring to align its cost base with reduced activity levels while focusing on sales and transitioning engagements to managed services to improve revenue visibility. The company maintains financial flexibility with cash holdings of $814,065 and an available debt facility. SOCO's financial metrics such as EBIT and EBITDA were adversely affected, reflecting the operational and market challenges faced during the half-year.
Key Points
  • Reported net loss after tax of $5,934,308.
  • Revenue decreased by 12% to $9,706,654.
  • Goodwill impairment of $4,610,284 impacted results.
  • IT consulting services and software licenses were primary revenue sources.
  • Restructuring efforts to align cost base and invest in sales capability.
  • Transitioned engagements to managed services for better revenue visibility.
  • Maintained financial flexibility with cash holdings of $814,065.
  • Available debt facility provided additional liquidity.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.