PCI-PAL (PCIP) Trading Update summary

Trading and financial performance

• Annual recurring revenue (ARR) grew 25% to £19.3m; contracted ARR (CARR) up 17% to £22.2m.

• Revenue and profit before tax finished in line with market expectations.

• Net revenue retention increased from 102% to 104%, with churn below 5% and gross revenue retention at 95.1%.

• Ended the year with just under £4m in cash and positive operating cash flow.

• FY26 revenue guidance set at £23.5m–£24m, with consensus estimate at £25.5m.

Sales and operational highlights

• Achieved record customer signings and expanded partner ecosystem, maintaining high customer and partner retention.

• Secured a major renewal with the UK Department for Work and Pensions, valued over £11m.

• Achieved competitor displacements, including a new FTSE 250 client now live.

• Expanded technical integrations with CCaaS platforms and onboarded RingCentral as a strategic partner.

• Signed a new reseller partnership with a $1bn revenue business communications provider.

Strategic review, initiatives, and outlook

• Completed a strategic review post-patent litigation and CFO transition, reaffirming growth focus.

• New strategic plan targets organic ARR growth of 18–20% annually through FY27 and beyond.

• Committing £1.5m near-term investment, mainly in marketing, product development, and engineering.

• Deepening relationships with major CCaaS vendors to capitalize on a rapidly growing $180bn market.

• Continued strong sales pipeline and momentum in new business wins.