3rd Jun 2025 11:17
(Alliance News) - FD Technologies PLC on Tuesday said revenue increased while its pretax loss widened in the 2025 financial year, as its takeover offer from TA Associates Management LP progresses.
The County Down, Northern Ireland-based company provides data analytics and consulting services to finance, technology and energy institutions.
Revenue increased 2.0% to GBP80.7 million in the 12 months to the end of February from GBP79.1 million a year ago.
Pretax loss widened to GBP29.1 million from GBP20.3 million.
The loss widened as total operating costs climbed 18% to GBP91.5 million from GBP77.6 million, driven by administrative expenses which were up 39% to GBP49.7 million from GBP35.8 million.
In May, the board unanimously recommended an offer from TA Associates that values the company at 2,450 pence per share or GBP570 million.
During the financial year, FD Technologies separated its three businesses and divested from its MRP and First Derivative businesses.
Following the disposal of First Derivative for GBP230 million in December, FD Technologies returned GBP120 million to shareholders via a tender offer.
The remaining operation is KX, a subscription software business that uses advanced data analytics and artificial intelligence.
FD Technologies said KX "continued to execute well in the second half of the year," with bookings growth at the top end of the guidance range and ahead of consensus expectations.
Annual recurring revenue increased 13% to GBP81.8 million from GBP72.5 million.
Adjusted earnings before interest, tax, depreciation and amortisation grew 27% to GBP6.5 million from GBP5.1 million.
Looking ahead, FD Technologies said it expects annual recurring revenue growth of at least 20% in financial 2026.
It added that it continues to target positive cash Ebitda in financial 2027. The cash Ebitda loss narrowed to GBP14.6 million in financial 2025 from GBP18.8 million, ahead of previous guidance.
Chief Executive Officer Seamus Keating said: "We made significant strategic and operational progress in financial 2025. With accelerating ARR growth and better-than-expected operating leverage, KX delivered a strong performance based on good ongoing execution. Meanwhile, our strategic repositioning of the group during the period has unlocked significant shareholder value."
Shares in FD Technologies were down 0.2% at 2,420.00p in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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