Objective Corp sinks to six-year low on non-renewal of Australian DoD contract
01/07/2026 03:53
BUZZ-Objective Corp sinks to six-year low on non-renewal of Australian DoD contract ** Shares of Objective Corporation OCL.AX fall as much as 53.9% to A$4.75, their lowest since March 26, 2020
** Stock logs its largest intraday pct loss
** The software firm says the Australian Department of Defence's Defence Digital Group has not renewed the company's Upgrade and Support Program (USP)
** Adds partnership had been in place for over 25 years
** Says while non-renewal has no impact on company's FY26 earnings, it will reduce annual recurring revenue balance
** More than 1.4 million shares change hands, 13.6 times the 30-day average
** Stock down 66.6% YTD, including the day's moves
(Reporting by Nikita Maria Jino in Bengaluru)
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