Trading Update

4 September 2025

essensys plc

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("essensys", "Company" or "Group")

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Trading Update

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essensys plc (AIM:ESYS), the leading global provider of software and technology to the flexible workspace industry, announces a trading update for the financial year ended 31 July 2025 ("FY25").

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The Company is pleased to confirm that it has successfully delivered on its strategy of achieving a return to profitability at an adjusted EBITDA level in FY25 as previously targeted.

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Revenue1 for FY25 of £19.2m (FY24: £24.1m) is expected to be broadly in line with market expectations2. Adjusted EBITDA3 is expected to be not less than £1.3m (FY24 LBITDA: loss of £0.9m). Lower year on year revenue reflects the previously communicated customer churn in the platform and network business. However, essensys has worked with customers to ensure an enhanced approach to account management to reduce further churn and has delivered significant operational improvements with a lower cost base, alongside investment in product to reposition the business for future growth.

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The Company continues to maintain a strong focus on cash management and working capital, closing the year with a cash balance of £1.8m (FY24: £3.1m) and remaining debt free.

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Product development continues to be a priority. elumo, launched in the second half of FY25, is a dynamic bookings and access platform, giving landlords and operators of flexible, multi-tenanted office space a powerful way to manage and monetise shared meeting rooms. Leveraging mobile wallet technology and real-time intelligence, elumo enhances the user experience and delivers a compelling return on investment to landlords and operators.

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The Company is pleased to confirm that since the year end, elumo has secured its first sales to customers across all of essensys' key markets of the UK, the US and Australia. This includes a portfolio deal of 20 sites with an existing US customer, as well as a sale to a new logo customer, demonstrating elumo's ability to land new customers and expand existing relationships. With a strong and growing pipeline, essensys remains focused on accelerating elumo sales.

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essensys Platform has delivered significant operational progress during the year. As part of the Company's stated strategy to transition to a pure play SaaS model, which no longer requires essensys Cloud to deliver, essensys has successfully completed its FY25 data centre decommissioning project, closing 10 centres in the year as planned, with a further two planned for closure in FY26. The annualised cost savings realised by the completion of this project total £1.5m, positioning the business to deliver stronger cash generation, higher margins and greater scalability, whilst better aligning with customer requirements.

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essensys remains well positioned to capitalise on the structural growth drivers supporting increased demand for flexible, hybrid work solutions. The Company's scalable business model, strengthened by the successful launch of elumo and the transition from legacy network services, underpins confidence in revenue growth, margin expansion, and cash generation. With a robust pipeline, high quality customer base and a refreshed and innovative product set, essensys believes it is well placed to drive long-term sustainable growth.

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James Lowery, CEO of essensys, commented: "FY25 marks an important milestone in the evolution of essensys. We delivered on our commitment to return the business to EBITDA profitability, while simplifying our operations, improving margins, and successfully transitioning our Platform business to a SaaS-driven model. The launch of elumo strengthens our proposition, giving landlords and operators new ways to monetise and manage their space while enhancing the experience for occupiers.

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"We are confident that essensys is well positioned to be the trusted software and technology partner for the industry's long-term growth. With initial elumo contracts signed, a strong pipeline across key markets and a clear focus on strategic customers, we enter the new financial year with confidence in our ability to build on this momentum and deliver long-term value for both customers and shareholders."

Notes

1. The trading performance reported in this statement is based on unaudited management accounts. All figures remain subject to audit.

2. For the purpose of this announcement, the Group believes market consensus for FY25 to be revenue of £20m, adjusted EBITDA of £1.5m and cash of £2.0m.

3. Adjusted EBITDA is earnings before tax, depreciation, amortisation, exceptional items and other non-trading items, such as share option charges.

-Ends-

For further information, please contact:

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About essensys plc 

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essensys is the leading provider of software and technology to landlords and flexible workspace operators. Founded in 2006 and listed on the AIM market since 2019, essensys' mission is to power the world's largest community of flexible, technology-driven spaces. Under new leadership, the Company has simplified its go-to-market strategy around two core offerings: essensys Platform and elumo.

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essensys Platform is a SaaS platform that delivers enterprise-grade Wi-Fi seamlessly across portfolios of multi-tenant workspaces, while providing data insights to optimise performance. The Group's latest offering, elumo, provides customers with a new way to manage and monetise bookable spaces. The integrated bookings and access solution transforms meeting rooms and shared spaces from operational headaches into revenue-generating assets.

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With customers in the UK, Europe, North America and APAC, essensys is deploying a newly launched and simplified go-to-market strategy, positioning the business long-term growth in the flexible workspace and commercial real estate market.

Prior to publication the information communicated in this announcement was deemed by the Company to constitute inside information for the purposes of article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No 2019/310 ('MAR'). With the publication of this announcement, this information is now considered to be in the public domain.