Half Year 2025 Trading Update

22 May 2025

Idox plc

('Idox' or the 'Group' or the 'Company')

Half Year 2025 Trading Update

Positive momentum continues with good first half performance

Idox plc (AIM: IDOX), a leading supplier of specialist information management software and geospatial data solutions to the public and asset-intensive sectors, today issues a trading update for its financial half year ended 30 April 2025 ('FY25 H1').

Group trading performance

We are pleased to report that the Group has delivered good growth during the first six months of the year, generating overall revenue of c.£45.0m (HY24: £43.1m). The Group delivered solid recurring revenue growth of c.9% which was partially offset, as anticipated, by lower non-recurring revenue. Adjusted EBITDA1 increased by over 6% to c.£13.9m (HY24: £13.1m), in line with the Board's expectations.

The Group recorded a c.9% increase in order intake to c.£59.0m (HY24: £54.1m) with key new wins for the Assets division and our geospatial data solutions, providing increased levels of recurring revenue visibility across all divisions for the remainder of FY25 and into FY26.

The Group continued to generate strong cash flows during the period and ended the half with a net cash2 position of c.£0.2m compared to a net debt position of £9.9m as at 31 October 2024. 

David Meaden, Chief Executive Officer of Idox commented:

"The Group has delivered a positive performance during the first half, in line with the Board's expectations, with good revenue and adjusted EBITDA growth as well as solid order intake providing good future visibility.

We have significantly reduced our net debt since the end of FY24 to a net cash position as we continue to drive positive cash performance in the business.

Our M&A pipeline is healthy, and we were pleased to complete the acquisition of Plianz shortly after the half year end to strengthen our existing Social Care offering and build on our strong public sector software capabilities. We remain confident of adding to our existing portfolio of specialist software and geospatial data solutions to deliver further profitable growth.

We are pleased with our progress and positive momentum and are confident that Idox is well positioned for growth in the remainder of 2025."

Notice of half year results

The Group expects to report its FY25 H1 results on Thursday 12 June 2025. Management will host a results webinar on the day. Please contact MHP to register your interest.

1 Adjusted EBITDA is defined as earnings before amortisation, depreciation, restructuring, acquisition costs, impairment, financing costs and share option costs.

2 Net cash / (debt) is defined as the aggregation of cash, bank borrowings and long-term bond. This differs from a similar measure under IFRS, which would also include lease liabilities as debt. The definition used is consistent with that used within the Group's banking arrangements.

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For more information see www.idoxplc.com @Idoxgroup