Dear Shareholder,  

Q4 2025 marked a defining quarter for Elsight, delivering record revenue, accelerating global momentum, and clear trajectory into sustained growth in CY2026.
Here are some highlights: 

• The Company achieved its fourth consecutive quarter of record revenue, culminating in an 11-fold year-on-year increase for CY2025, underpinned by a rapidly expanding ~US$22M order backlog and major contracts extending well into 2026.

• With software-like gross margins of ~77%, rising recurring revenue, and ~US$59M in cash, Elsight enters the new year from a position of exceptional financial strength.

• Operationally, Q4 saw significant execution milestones, including the first production deliveries of Aura, expanding Elsight’s addressable market beyond uncrewed platforms.

• The advancement of Halo into Phase 3 of a U.S. Defense Innovation Unit program, a critical step toward scaled production procurement.

• Elsight deepened its global footprint with senior commercial hires across the U.S., Europe, and the Middle East, strengthening direct access to defence, government, and commercial customers.

Elsight Webinar Presentation

Elsight plans to hold its Q4/25 webinar presentation on February 4, 2026 at 5:00pm AEDT.
Beyond the numbers, this presentation takes place at a unique moment, at the intersection of profound shifts in the global defense landscape and a pivotal phase in Elsight’s evolution.
The session will highlight how Elsight is uniquely positioned to respond to this evolving environment across all dimensions, including technology, strategy, operations, partnerships, and market engagement.

Please register in advance HERE.

With defence programs moving toward scale, early commercial traction, and multiple new growth engines set to launch in CY2026, Q4 marks the inflection point into Elsight’s next phase of sustained, multi-year growth.

Best regards,

IR Team 
Elsight (ASX:ELS)