ActiveOps (AOM) H1 2025 earnings summary

Executive summary

• Achieved double-digit year-on-year revenue growth in H1 FY25 to £14.32m, driven by SaaS and implementation services, with profit before tax rising 370% to £0.47m and adjusted EBITDA up 32% to £1.04m.

• SaaS revenue comprises 90–91% of total revenue, with strong recurring revenue and high gross margins.

• Secured three new customers, expanded sales capacity by onboarding five new sales executives, and continued strong expansion in Canada and Africa.

• Launched new product versions (Series 3.0 and upcoming Series 4.0), with product innovation and AI/ML integration as strategic priorities.

• Maintained a robust financial position with no debt and £13.44m in cash at half-year end.

Financial highlights

• Revenue for H1 FY25 was £14.32m, up from £13.1m in H1 FY24; SaaS revenue grew 11% (12% at constant currency), and training & implementation revenue up 1%.

• SaaS margin reached 88% in H1 FY25; training and implementation margins ranged 50–55%.

• Adjusted EBITDA increased 32% to £1.04m; EBITDA margin improved to 7% from 6% year-on-year.

• Profit before tax rose to £0.47m from £0.10m; EPS turned positive to 0.52p from a loss of 0.14p.

• Cash at bank stood at £13.44m, a 36% increase from H1 FY24; net assets at £9.29m.

Outlook and guidance

• Trading remains in line with full-year expectations, with a positive start to H2 and two new customer engagements, including the first for ControliQ Series 4.

• Net revenue retention expected to exceed 100% for the full year, despite a 5% ARR impact from a major customer reducing users.

• Significant upsell and cross-sell potential within existing accounts, with £90m ARR TAM identified.

• Continued investment in global sales operations and AI capabilities expected to drive growth in FY26 and beyond.

• Product roadmap includes the release of ControliQ Series 4 in FY25.