AdvancedAdvT (ADVT) H1 2026 earnings summary

Executive summary

• Revenue rose 28.0% year-over-year to £25.4m for the six months ended 31 August 2025, with 10.1% organic growth and 81.0% recurring revenue.

• Adjusted EBITDA increased 76.3% to £7.2m, with 45.0% organic growth, and operating profit grew 127.7% to £4.7m.

• Two strategic acquisitions, GOSS and HFX, were completed in May 2025, broadening digital transformation and workforce management capabilities.

• Cash position strengthened to £97.0m, supporting ongoing M&A and operational investments.

Financial highlights

• Recurring revenue reached £20.6m, 81.0% of total, up from £16.0m (80.4%) year-over-year.

• Adjusted EBITDA margin expanded to 28.2% from 20.5% year-over-year.

• Free cash flow from continuing activities was £13.6m, up from £6.0m.

• Basic EPS was 2.17p (2024: 5.89p); adjusted operating profit EPS was 5.24p (2024: 3.02p).

• Cash conversion of adjusted EBITDA was 188% (2024: 117%), aided by working capital management.

Outlook and guidance

• Trading in the second half is in line with management expectations, with new contract wins and successful integration of acquisitions.

• Continued focus on organic growth, AI, automation, SaaS, and disciplined M&A.

• Board will review dividend policy after significant capital deployment.