FINEOS (FCL) AGM 2025 summary

Opening remarks and agenda

• Meeting held on 12 June 2025, led by Chair Anne O'Driscoll and CEO Michael Kelly, with confirmation of quorum and online participation explained.

• Agenda included board introductions, performance review, formal business, and voting on resolutions.

Board and executive committee updates

• Bill Mullaney is stepping down from the board, with a search underway for a new non-executive director.

• Board composition and director attendance discussed, with plans to improve future director presentations.

Financial performance review

• FY 2024 subscription revenue grew 6.6% to €71.2m, now 52.5% of total revenue; total revenue was €133.2m, with €22m from Australia and New Zealand.

• Gross profit was €100.4m with a 75.4% margin; EBITDA reached €20.2m, margin up to 15.2% from 7.6% in CY23.

• Gross margins increased by 4.6 percentage points; Q1 FY25 cash receipts up 40% year-on-year.

• Cash balance at March 31, 2025, was €35.4m; year-end cash position was €19.8m, with no debt.