Full year results for the year ended 31 December 2025

Positive financial performance and strategic transformation

Matt Timmins, CEO of Fintel

"2025 has been a defining year for Fintel, creating a simpler, more unified and scalable platform that sets the foundation for the next phase of our growth.

"Technology, data and regulation continue to reshape the UK retail financial services market, and Fintel's unique combination of market-leading software, enriched proprietary datasets and insights, and distribution platforms, places us at the centre of this transformation.

"Looking ahead, our ambition is clear: to build the most connected, insight rich and intelligent platform in the sector, enabling better decisions and better outcomes across the entire advice ecosystem.

"We have entered the new financial year with clear strategic momentum, high levels of recurring revenues and a stronger platform enabling opportunities for organic growth, underpinned by deep customer relationships. Fintel has made a strong start to FY26, with trading in line with the Board's expectations; the Group is poised to accelerate its strategy to deliver long term value for advisers, partners and shareholders alike."

Financial highlights

• Revenue increased to £85.9m (FY24: £78.3m), up 10%, supported by £7.0m year on year inorganic growth.
• SaaS & Subscription revenue up 9.6% to £48.7m (FY24: £44.4m) building on our quality recurring revenue streams which now represent 57% of revenues.
• Adjusted EBITDA¹ growth of 16.6% to £25.9m (FY24: £22.2m), driven by our successful acquisition strategy and proposition launches.
• EBITDA margin increased to 30.1% (FY24: 28.3%), with acquired businesses now contributing at improving levels as integration progresses.
• Adjusted EPS¹ of 13.7 pence per share (FY24: 13.2 pence per share).
• Underlying operating cash conversion² was strong at 102%, driven by acquired business performance and operational growth.
• Net debt position³ of £31.1m (FY24: net debt of £25.3m), representing comfortable leverage of 1.2x, after significant investment in strategic acquisitions, people, products and services.
• Strong balance sheet with £17.3m of cash (FY24: £6.3m) and £72.5m of available headroom within our £120m Revolving Credit Facility providing significant flexibility for further organic and inorganic investment.
• Final dividend of 2.5 pence per share proposed, resulting in a full year dividend of 3.8 pence per share, an increase of 4.1% on prior year.
• The acquisition of Rayner Spencer Mills Research (RSMR) completed during the year for an initial cash investment of £6.4m, with the business contributing £3.4m of revenue and £1.1m of EBITDA during the period.

Strategic and operational highlights

Successful organisational transformation

Consolidation from three divisions into two - Fintel Services and Fintel Software & Data - and appointment of new, experienced divisional leadership

Unlocked operational leverage and platform unification

• Integrated acquired businesses into coherent product lines
• Enhanced scalability and increased cross sell opportunity through the rollout of a unified sales strategy and a single CRM customer view, improving visibility of total customer value
• Foundations laid for further integration across adviser technology as the Group progresses towards a unified adviser platform

Investment into technology and service platform, to maximise distribution opportunities

• Accelerated development of digital & AI enabled compliance tools, creating a differentiated 'reg-tech' proposition
• Continued scaling of the Matrix360 market intelligence platform, an industry first tool for insurers to optimise product design and performance, with 23 institutional customers onboarded in first 12 months
• Launch of whole of market distribution platform ("Omnicore") driving early traction with advisers and product providers and supporting scaling of successful Protection, Mortgage and Managed Distribution propositions across threesixty membership base

Strengthened data advantage through targeted investment

• Completed the acquisition of Rayner Spencer Mills Research (RSMR), extending research, ratings and investment intelligence platform
• Increased Fintel's stake in Plannr Technologies, a specialist financial CRM business, to 49%, transitioning this investment into an associate and expanding our strategic data capabilities.
• Completed the acquisition of the Pearson Ham Group's market pricing data business on 19 January 2026, strengthening the Group's proprietary pricing intelligence and enhancing Fintel's position as a key technology and data partner to the UK retail financial services sector.

Current trading and outlook - Strong start to the new financial year, confident in continued strategic progress

Fintel has made a strong start to FY26, with trading in line with the Board's expectations.

The Group enters the year with strong momentum, supported by its high level of recurring revenue, simplified operating structure and clear strategic focus. The Board remains confident in the Group's outlook and in its ability to deliver further strategic and financial progress in 2026.

Key drivers of growth in FY26 include:

• Increasing demand across the UK retail financial services sector for technology, data, and regulatory support, as advisers and product providers respond to increasing complexity and regulatory change.
• Further progress in integrating the Group's technology and services into a more unified platform, supporting efficiency, cross-selling opportunities and synergy realisation.
• A strengthened balance sheet and scalable model, providing flexibility to invest in organic growth initiatives and pursue selective strategic acquisitions.
• The acquisition of the Pearson Ham Group's Market Pricing Business in January 2026, which enhances Fintel's pricing intelligence and data advantage, and is expected to be earnings accretive in its first full year of ownership.

Notes

1. Adjusted EBITDA and EPS are alternative performance measures for which a reconciliation to a GAAP measure is provided in note 8 and note 10. 
2. Underlying operating cash flow conversion is calculated as underlying cash flow from operations (adjusted operating profit, adjusted for changes in working capital, depreciation, amortisation, CAPEX and share-based payments) as a percentage of adjusted operating profit.
3. Net debt represents the Group's total borrowings less cash and cash equivalents. Net debt figures include lease liabilities and prepaid bank fees, with the prior year restated on a comparable basis to ensure consistency.
4. Organic revenue refers to revenues from existing operations, excluding revenue from recently acquired businesses: threesixty services and RSMR.

Analyst presentation

An analyst briefing is being held today at 9:30am via an online video conference facility. To register your attendance, please contact fintel@mhpgroup.com.

Capital Markets Event

As announced on 3 February 2026, the Group will host a capital markets event on the 23 April 2026. If you would like to register your interest for the event and receive further details, please email fintel@mhpgroup.com.  

For further information please contact:

Notes to Editors

Fintel is a leading provider of software and services to the UK retail financial services sector. Through its two divisions, Software & Data and Services, and portfolio of trusted brands including Defaqto, Simplybiz and threesixty, Fintel provides technology and expert support services to thousands of intermediary businesses, data and distribution services to hundreds of financial institutions, and expert product ratings that empower millions of consumers to make better informed financial decisions.

For more information about Fintel, please visit the website: www.wearefintel.com