Nuix Posts 18.8% FY26 Revenue Growth as Neo Platform Scale Accelerates

Nuix Limited (ASX: NXL) lifted revenue 18.8% to $263.2 million in the 2026 financial year as rapid adoption of its Nuix Neo platform helped drive stronger profitability and cash generation.

Annualised contract value (ACV) increased 13.9% to $260.0m, while Nuix Neo ACV surged 179% to $78.5m across 135 customers and reached 30% of total ACV.

Nuix’s core adjusted management profitability measure rose 60.4% to $59.8m as revenue growth outpaced operating costs, lifting its margin from 16.8% to 22.7%.

Underlying cash flow increased 154% to $51.0m and overall free cash flow rose from $4.0m to $37.4m, leaving Nuix with net cash of $49.9m after completing the Linkurious acquisition.

Nuix is targeting ACV of $285m to $300m in the 2027 financial year, based on an Australian dollar-US dollar rate of 0.70, while expecting Adjusted Management EBITDA to remain similar to 2026.

Nuix Neo Drives Expansion

Nuix Neo remained the principal growth engine as customer migrations, new wins, and upselling more than offset the managed run-off of legacy components and weaker performance in parts of the Discover business.

The platform added 34 customers during the second half to finish with 135, while the typical ACV uplift for existing customers migrating from component solutions was between 30% and 50%.

North America and Europe, Middle East, and Africa led growth, supported by government demand, while Nuix reported particularly strong uptake of Nuix Neo Foundation and its Investigations and Legal solutions.

Around 60% of Nuix Neo customers have purchased solutions enriched with AI, about 20% have added further AI enablers, and roughly 7% have bought graph visualisation technology.

Converting Profitability into Cash

Revenue growth was supported by further success with multi-year agreements, which accounted for 35% of revenue compared with 27% a year earlier.

Statutory NPAT reached $16.4m compared with a $9.2m loss in the prior year, while EBITDA increased 40.5% to $66.9m on a statutory basis.

Nuix completed the Linkurious acquisition on 20 April, with the business contributing $12.0m of ACV at 30 June on an annualised run-rate basis, plus $3.8m of revenue and $2.0m of EBITDA for the 72 days following financial close.

Integration is progressing to plan and early commercial wins have emerged from combining Nuix Neo’s unstructured-data processing with Linkurious graph visualisation for investigative and compliance use cases.

Platform Reset to Shapes Outlook

Nuix has restructured its go-to-market model for FY27, including separate Americas and International sales teams and dedicated commercial leadership for Discover.

The company has unified its Product and Technology teams and plans a one-off $15m R&D Accelerator investment to strengthen platform integration, AI capabilities, cloud delivery, and user experience.

“These were decisive actions to position the company to capture a significantly larger addressable market,” chief executive officer John Ruthven said.

“With enhanced commercial capability in place, continued investment in platform and AI capabilities, and a clear strategy for profitable growth, we are well positioned to capture the significant opportunity ahead."

Nuix expects FY27 growth to be weighted towards the second half, supported by renewals, further contribution from upsell attach rates and new customers, with Nuix Neo expected to deliver further strong absolute ACV growth from a higher base.