FD Technologies (GYQ) Trading Update summary

Financial performance highlights

• Annual contract value (ACV) reached £18.0m, up 33% year-on-year and at the top end of guidance.

• Annual recurring revenue (ARR) grew 13% to £81.8m, surpassing $100m for the first time and in line with guidance.

• Cash EBITDA loss improved to £14.6m, better than consensus expectations and prior year loss of £18.8m.

• KX closed the year with £56m net cash and no debt after returning £120m to shareholders.

Strategic and operational developments

• Business restructured to focus solely on KX, following divestment of MRP and First Derivative.

• KX's AI-powered solutions, including KDB.AI, are driving adoption in capital markets, aerospace, defence, and industrial IoT.

• Enhanced go-to-market operations and simplified adoption contributed to strong bookings growth.

Outlook and market positioning

• Entering FY26 with a strong and growing pipeline across key sectors, supporting confidence in at least 20% ARR growth.

• KDB.AI's ability to combine historical and real-time data with low-latency AI processing positions it as a category leader.

• Market demand for time-series AI is increasing as industries shift to real-time, context-aware AI.