Skillcast Group (SKL) Trading update summary

Revenue mix

• FY2024 revenue expected at ~£13.3m, up 18% YoY; growth was entirely organic.

• Recurring subscription revenue rose 29% to ~£11.0m; professional services revenue fell 17% to ~£2.3m.

• Subscriptions represented 83% of revenue, up from 76% in 2023.

ARR and outlook

• ARR increased 25% to £11.6m at Dec 2024 from £9.3m a year earlier, driven by new customers and new products.

• A strong new-business pipeline supports revenue objectives; SaaS and product releases, including Aida, are expected to drive ARR growth and higher EBITDA margins in 2025.

Profitability and cash

• FY2024 EBITDA expected at ~£0.5m, in line with market expectations, versus LBITDA of £0.6m in 2023; all EBITDA was generated in H2.

• Net cash was £9.1m at 31 Dec 2024, versus £7.2m a year earlier, equivalent to ~10p per ordinary share.

• Full-year results and a recommendation of a final dividend for 2024 are expected in April 2025.