FINEOS (FCL) Q4 2025 TU earnings summary

Executive summary

• Revenue growth and operational efficiency gains support guidance for positive free cash flow in FY25.

• Cash balance at 31 December 2025 was €27.8m, up €8.0m year-over-year, but down €4.8m sequentially due to seasonal cash collections.

• Two new North American clients were contracted for AdminSuite for Claims, with go-live expected in 2026.

• Product Consulting employee utilisation rate averaged 88% YTD, up 3% year-over-year.

Financial highlights

• 4Q25 customer cash receipts were €24.2m, down 23% sequentially and 1% year-over-year due to seasonality and timing differences.

• 4Q25 product manufacturing and operating costs were €7.7m, up 3% year-over-year.

• 4Q25 staff costs were €13.1m, down 15% year-over-year, but up 3% sequentially.

• 4Q25 administration and corporate costs were €4.2m, down 37% sequentially and 17% year-over-year.

• Net cash from operating activities for the quarter was negative €0.2m; for the year, positive €36.9m.

Outlook and guidance

• FY25 revenue guidance remains €138m–€143m (constant currency), but at the lower end due to unfavorable FX movements.

• Focus remains on growing Annual Recurring Revenue (ARR) and operational efficiency for profitable growth in 2026 and beyond.