essensys (ESYS) H1 2026 earnings summary

Executive summary

• Restructuring focused on essensys Platform and elumo, driving cost efficiencies and improved customer support.

• Strategic partnership with OfficeRnD launched to enhance customer retention and accelerate sales cycles.

• First elumo sites went live, but sales impacted by elongated cycles and slower adoption.

• Recommended cash offer of 17p per share by a vehicle backed by the founder, pending shareholder approval.

Financial highlights

• Revenue declined 25% year-over-year to £7.8m, mainly due to downsizing of a large strategic customer and portfolio rationalisation.

• Recurring revenue fell 24% to £7.0m; Run Rate ARR dropped 24% to £12.7m.

• Adjusted EBITDA positive at £0.1m, down from £0.8m in H1 25.

• Statutory loss before tax was £1.7m, slightly improved from £1.8m loss in H1 25.

• Net cash at period end was £0.9m, down from £2.2m a year earlier.

Outlook and guidance

• Management remains focused on cost control, operational efficiency, and product development.

• Ongoing discussions for debt facility to support liquidity.

• The Board believes restructuring and product focus have established a foundation for future growth.