22nd Jul 2025 11:34
(Alliance News) - Big Technologies PLC on Tuesday said it expects to report decreased interim adjusted Ebitda and revenue, although two new contracts are set to commence in the current half year.
The Rickmansworth, England-based electronic monitoring solutions provider expects to release half-year results on September 30.
Big Technologies anticipates reporting total group revenue of approximately GBP24.8 million (or GBP26.1 million at constant currency) for the first six months of 2025, down from GBP26.5 million the year before.
Criminal Justice revenue decreased on-year to approximately GBP24.5 million from GBP26.2 million. However underlying revenue growth came to 4%, excluding "the Colombia contract".
In May, Big Technologies had reported that pretax profit fell 72% annually to GBP5.5 million in 2024, while revenue fell 10% to GBP50.3 million. It attributed this to the loss of revenue from a contract with a former Colombian customer, from May 2024 onwards.
"Other revenues, including Remote Care revenues were flat in the period at [around GBP300,000]," Big Technologies said Tuesday.
The firm expects adjusted Ebitda for the first half to total approximately GBP12.5 million, down from GBP14.3 million due to "steady" underlying administrative expenses. This total excludes a GBP4.0 million "exceptional foreign exchange loss".
Big said it held a "significant" USD cash balance as of December 31, anticipating "a potential US acquisition in early 2025", but that the money has been repatriated due to the deal not proceeding.
The company also said it has two contracts commencing in the current half year, one newly awarded by the Northern Ireland Department of Justice and the other an "enlarged renewal" of its contract with Queensland Corrective Services.
"The expected total contract value for the initial five-year period is [AUD22 million], and represents an increase of [AUD4.9 million] from the previous arrangement over the initial period," Chief Executive Officer Ian Johnson said.
Furthermore, it reports no impact from US tariffs during the first half, and said its gross margin "remains high" at about 67.5%, albeit reduced from 70% the prior year.
"Significant progress has been made in establishing a new organisation and management structure to drive growth in our core markets of Criminal Justice and Remote Care," commented Johnson. "The group remains well-positioned with the financial flexibility to continue to invest in product and market development.
"The electronic monitoring market continues to experience significant tailwinds, which together with a clear growth strategy and market leading products, places the group in a strong position to compete for new business globally."
Shares in Big Technologies were down 1.7% at 92.00 pence on Tuesday in London.
By Emma Curzon, Alliance News reporter
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