Ocean Sciences Ltd Reports A$3.444 Million Revenue in FY2026 Annual Report Driven by Indonesian Seaweed Trading
Ocean Sciences Ltd (ASX:OSS) OSS (ASX:OSS) , previously known as BPH Global Ltd, has published its Annual Financial Report for the fiscal year ending 30 June 2026, revealing revenue from continuing operations of A$3.444 million, a significant increase from A$235,990 in the prior year, driven primarily by the Group’s Indonesian seaweed trading activities.
Key Points
Continuing operations revenue reached A$3.444 million for the year ended 30 June 2026, up from A$235,990 the previous year.
Total gross sales from Indonesian seaweed trading between 15 May 2025 and 30 June 2026 amounted to approximately IDR45.49 billion, or about A$3.68 million.
The Group secured a lease for an approximately 3.4-hectare coastal site at Laikang Village, Takalar Regency, South Sulawesi, to establish a Seaweed Innovation and Application Centre.
A US$375,000 trade finance facility was obtained during the year and extended post-year end for an additional 12 months until 31 August 2027.
Paul Stephenson resigned as Chairman and Director in June 2026, with Francesco Cannavo appointed as Executive Chairman.
Financial Performance and Indonesian Seaweed Trading Operations
During FY2026, the Group’s Indonesian seaweed trading platform completed its first full year of continuous commercial operations. Operations began on 15 May 2025, generating aggregate gross sales of approximately IDR45.49 billion (around A$3.68 million) through 30 June 2026. To support these operations, the Group secured a US$375,000 trade finance facility, which was extended for an additional 12 months to 31 August 2027 to enhance working capital for ongoing trading business development.
Development of Seaweed Innovation and Application Centre in Laikang Village
A significant milestone in FY2026 was the lease acquisition of a roughly 3.4-hectare coastal site at Laikang Village in Takalar Regency, situated about 40–50 kilometres south of Makassar. The 33,719 square metre site includes existing aquaculture pools and is planned to house onshore tanks for cultivating various seaweed species, alongside facilities for seaweed production, drying, processing, storage, and a functional laboratory. Additionally, a four-year cooperation agreement was established with the Maritime Institute of Technology and Business Balik Diwa Makassar (ITBM), focusing on education, research, workforce development, and applied innovation.
Research & Development Initiatives and Leadership Changes
Throughout FY2026, the Group progressed multiple R&D projects, including a bio-stimulant and bio-fertiliser program with Temasek Polytechnic, green seaweed kefir development with Singapore Polytechnic FIRC, fucoidan extraction research with BRIN advancing to Stage 2, and a two-stage cell-based efficacy testing program under Project Giddy-Up with Temasek Innovation Holdings. Ifat Mazouz was appointed Chief Scientific Officer during this period. On the leadership front, Paul Stephenson resigned as Chairman and Director in June 2026, with Francesco Cannavo succeeding him as Executive Chairman. Mr. Stephenson remains engaged with the Group through a consultancy contract.