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Software Circle (SFT) investor relations material
Software Circle H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 15% year-over-year revenue growth to £10.2m for the six months ended 30 September 2025, with strong organic and acquisition-driven performance.
OEBITDA rose 33% to £3.1m and aEBITDA increased 44% to £2.3m, reflecting improved operational efficiency and margin expansion.
Group now comprises eleven VMS businesses, with annualised run-rate revenues of £24m and aEBITDA margin of 25%.
Two acquisitions completed: Artificial Intelligence Finance Limited (AIF) in August and Broker Information Services Limited (BIS) in October, forming the first platform in the Professional and Financial Services segment.
Financial highlights
Gross profit increased 24% to £7.8m, with gross margin improving to 76% from 70% year-over-year.
Operating loss of £0.8m versus a profit of £1.4m last year, mainly due to higher non-cash amortisation and absence of prior year’s exceptional credit.
Operating cash flow per share rose 150% to 0.5p.
Cash and cash equivalents at period end were £4.8m, down from £12.7m last year, reflecting acquisition payments and debt servicing.
Net debt position of £7.1m compared to net cash of £2.4m last year.
Earnings per share (EPS) was (0.3)p, down from 0.3p year-over-year.
Outlook and guidance
Targeting £15m annualised aEBITDA (Gate 5) as the next milestone, with a focus on compounding OCFPS and maintaining disciplined capital allocation.
Expecting annualised revenue of £24m and aEBITDA margin of 25% post recent acquisitions.
Pipeline for further acquisitions remains healthy, with continued focus on recurring revenue and operational fit.
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