16th Mar 2026 14:33
(Alliance News) - Beeks Financial Cloud Group PLC on Monday announced lower underlying revenue and a swung to a loss in the first half as it waits to recognise recently secured contracts.
The Glasgow, Scotland-based cloud computing and connectivity provider for financial markets reported revenue of GBP14.7 million in the six months ending on December 31, down 7.2% from GBP15.8 million a year prior.
It also swung to a GBP1.9 million statutory pretax loss from a GBP461,000 profit a year prior.
The consistent add back of non-cash share-based payments is the largest reconciling item when compared to a narrower underlying loss.
Underlying pretax loss in the first half of the 2026 financial year was GBP0.7 million, compared to a GBP1.9 million profit 12 months prior.
Beeks Financial Cloud shares were down 9.5% to 172.00 pence each on Monday afternoon in London.
The cloud solutions provider said annualised committed monthly recurring revenue grew 15% yea-on-year to GBP32.8 million from GBP28.5 million. However, gross margin decreased from 38% to 30% year-on-year due to lower revenue, a move to revenue-share contract structure, and investments in infrastructure ahead of customer launches.
It also hailed new contracts for a total value growing by 23% to GBP11.9 million from GBP9.7 million 12 months prior, noting how "contract timing and move to a revenue share model for Exchange Cloud reduced first-half financial performance...but provide good visibility" for the second-half.
On the same account, Beeks will recognise GBP4.5 million of revenue from contracts signed towards the end of the period, two go-live of Exchange Cloud contracts, and the remaining deployment of the Grupo Bolsa Mexicana site.
Additionally, the company highlighted the launch of Market Edge Intelligence, an artificial-intelligence powered analytics platform that has "one of the world's largest banks" in contractual discussions, and reaffirmed its full year expectations.
By Martin Miraglia, Alliance News reporter
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