AdNeo (ASX: AD1) has secured a significant five-year enterprise agreement with **Amplitude Energy** (ASX: AEL) for its Learnt platform, marking a substantial win in the energy sector.
AdNeo's Learnt platform will design, deploy, and host the Amplitude Energy Academy for Amplitude Energy over a five-year (60-month) period.
This national, 24/7 branded learning and communications platform will support up to 1,000 users.
The agreement carries a Total Contract Value of approximately $246,400 (ex GST) comprising a $18,400 one-off implementation fee and $45,600 in annual recurring licence fees, which are set to commence from 1 August 2026.
Amplitude Energy retains a six-month convenience termination right following the platform's go-live date.
Bespoke Courseware Upside
The stated TCV for the platform agreement specifically excludes potential incremental revenue.
This additional revenue could be generated from bespoke courseware development as Amplitude Energy expands its Academy courseware.
AdNeo has provided pricing guidance for such module development, ranging from approximately $3,400 to $7,050 (ex GST) per module.
This presents a clear opportunity for further revenue streams beyond the initial platform agreement.
Strategic Vertical Expansion
This contract marks a key expansion for AdNeo's Learnt platform into the energy sector.
The platform's features, including onboarding, safety, and compliance training, align directly with the structural demand for such services within the energy industry.
The deal strengthens AdNeo's enterprise pipeline and establishes a multi-year relationship within this critical vertical.
Financial Context: Revenue Growth & Cash Flow
AdNeo's half-year results for H1 FY26 (ended 31 December 2025) showed revenue from ordinary activities surging 118% to $4,563,093.
This growth was significantly influenced by the Learnt Group acquisition in August 2025, which contributed $1,953,586 in revenue during the first half of FY26.
Despite the revenue increase, the company reported a net loss after tax attributable to members of $1,666,267 for H1 FY26, although its EBITDA loss improved to $82,468.
The Q2 FY26 Appendix 4C reported customer receipts of $2.69 million, an 89% quarter-on-quarter increase, with a modest net operating cash outflow of $14,000, indicating progress toward cash flow positive operations for FY26.
However, the company continues to highlight material going concern uncertainty due to negative net assets and operating cash outflows.
Integration and Synergies
AdNeo has been actively pursuing post-merger integration following the acquisitions of Learnt Group in August 2025 and Aspire by Catapult in September 2025.
These efforts have led to reported total cost synergies of $4.0 million, with management indicating an additional $1.5 million in savings executed in the December quarter alone.
The company has also undertaken balance sheet actions, reducing group liabilities by $1.35 million during Q2 FY26.
This is expected to lower forward repayment costs by approximately $50,000 per month.
AdNeo Outlook
AdNeo's Amplitude Energy contract provides significant new recurring revenue and highlights the firm's success in penetrating the energy sector.
While the company continues to navigate profitability challenges and going concern risks, the strong revenue growth driven by acquisitions and new contract wins like this one demonstrate a positive trajectory for enterprise solutions.
