Operator
Thank you for standing by, and welcome to the Clover Corporation Limited HY ’26 Results Briefing. [Operator Instructions] I would now like to hand the conference over to Mr. Peter Davey, Managing Director and CEO. Please go ahead.
Peter Davey
CEO, MD & Executive Director
Good morning, all. Welcome to the first half FY ’26 investor presentation. I’m delighted to be with you and present some good results. I’m Peter Davey. And here is Andrew Allibon. Andrew is the Company Secretary and CFO. He will take us through the financial part of the results. And following the presentation, we’re happy to take questions from you.
So if I move to the highlights of the first half financial year, revenue was up $6.5 million to $44.1 million. That’s a record result for the company. So an outstanding revenue result, which has driven our gross margins up to 35.6% as well. The revenue is really being generated with new customers and some of our other customers really improving their results as well. So a mixture of the 2, which is driving an improved revenue result.
EBITDA, $6.9 million, up $2.6 million on the prior period — prior half has been outstanding. That’s really underpinned by the new product mix of products that we’ve got. So that’s delivering better margins, delivering with new customers and an improved manufacturing performance across the entire business.
Cash on the balance sheet sitting at $10.3 million. That’s offset a little bit by we’ve had to increase our inventory position by $10.2 million. And that’s really
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