IMDEX Shares Fall 7% in Risk-Off Session on ASX as Investors Weigh Tech Firm's Record Results and Outlook

SYDNEY — Shares of IMDEX Ltd. fell nearly 7% on Friday as investors sold riskier stocks during a broad market pullback driven by a global rout in technology shares.

IMDEX shares lost 24 cents to close at A$3.20, after trading between A$3.155 and A$3.34. About 975,000 shares changed hands, leaving the company valued at about A$1.7 billion.

The ASX 200 closed 0.5% lower as the selloff in artificial intelligence and chip stocks spread across Asia.

IMDEX did not release market-sensitive news on Friday.

Record year

The decline comes despite strong recent results. IMDEX delivered record fiscal 2026 revenue of A$520.0 million, up 21%, while normalized EBITDA rose 29% to A$163.0 million, with margins expanding to 31.3%.

Normalized earnings per share climbed 37%, as the company benefited from stronger demand, market share gains and a larger contribution from its digital platform.

IMDEX declared a fully franked final dividend of 1.75 cents a share, taking fiscal 2026 dividends to 3.40 cents.

Muted market response

Investors have been cautious about the outlook. Shares slipped 2.6% after the record full-year result.

What IMDEX does

The company sells technology used across the mining cycle. IMDEX develops drilling optimisation tools, geological sensing technologies, downhole instruments and software that help mining companies collect, analyze and interpret geological information.

It is expanding its technology suite. IMDEX agreed to acquire Mount Sopris Instruments and Advanced Logic Technology, which specialize in geophysical logging systems and borehole imaging software.

Cyclical risk

The business is closely tied to mining activity. The most significant risk is cyclical exposure to the mining industry.

The stock has been volatile this year. IMDEX shares earlier traded as high as A$4.59 and as low as A$2.55 over a 52-week period.

The stock is down about 6% over the past year.