Journeo (JNEO) H2 2025 earnings summary

Executive summary

• Revenue, gross profit, and adjusted profit before tax all increased year-over-year, with results in line with broker forecasts for FY 2025.

• Completed the acquisition of Crime and Fire Defence Systems in September, expanding into critical national infrastructure protection.

• Strategic investments and a qualified sales pipeline exceeding GBP 200 million support the next phase of growth.

Financial highlights

• Revenue rose 11% year-over-year to GBP 55 million.

• Gross profit increased 23% to GBP 21.8 million, with gross margin up to 40%.

• Adjusted profit before tax grew 13% to GBP 5.7 million.

• Diluted EPS decreased to GBP 0.2383 due to normalized tax charge and share issuance.

• Cash at year-end was GBP 12 million, down after a GBP 10 million acquisition outlay.

Outlook and guidance

• Full-year contribution from Crime and Fire expected to drive significant revenue growth in the coming year.

• Infotec segment to see a major uplift in 2026 from a new $10 million New York contract.

• Management targets GBP 150 million revenue with double-digit operating margins through organic growth and acquisitions.

• Focus on increasing recurring SaaS revenue and expanding into adjacent markets.

• Active M&A pipeline and international expansion, including a U.S. startup, are underway.