Ondo InsurTech (ONDO) H2 2026 TU earnings summary

Executive summary

• FY26 revenue rose 19% to £4.6m, with recurring revenue growth and US expansion offset by lower one-off device fees; cash was £1.1m at year-end.

• Growth is expected in FY27, but uncertain or delayed partner orders prompted an immediate short-term funding requirement and active review of financing options.

Financial highlights

• Revenue increased 19% to £4.6m (FY25: £3.9m); recurring revenue grew 50% to £3.8m, while one-off device fee revenue declined 39% to £0.8m.

• US revenue increased 115% to £2.3m, representing 49% of total revenue (FY25: 27%).

• Cash at 31 March 2026 was £1.1m (FY25: £4.0m).

Outlook and guidance

• The Board expects further growth in FY27, while some partner orders are tracking later than anticipated or remain uncertain.

• Full-year results for the year ended 31 March 2026 are expected on 29 July 2026.