Half Year Results for the Six Months ended 30 June 2025

Strong trading, acquisitions integrated, strategic transformation

Fintel (AIM: FNTL), a leading provider of software and support services to the UK Retail Financial Services sector, today announces its unaudited results for the six months ended 30 June 2025.

"Fintel has delivered a strong first-half performance, with double-digit revenue and EBITDA growth reflecting the strength of our business model and the quality of our earnings.

We have also made significant strategic progress, successfully integrating nine acquisitions into two complementary divisions. This transformation marks a pivotal moment for Fintel, enabling us to concentrate resources on our most attractive markets and propositions, while providing a clear framework for innovation and growth as we transition to a software and data-led business built on recurring revenues.   

With a streamlined operating structure, a scalable and agile operating model, and continued investment in high-margin, recurring software and data revenues, we are better positioned than ever to capture the substantial opportunities ahead. We are confident in delivering against our full year expectations and continue to focus on driving better outcomes for our customers, partners, and shareholders.''

Financial highlights

Strong H1 performance with positive trading momentum

• Group revenue increased 18.6% (4% organic), driven by our successful acquisition strategy and new proposition launches
• Adjusted EBITDA margin maintained during a period of continued organic and inorganic investment, underpinned by continued strong cash conversion
• Very flexible balance sheet with £8.4m cash and net debt of £30.1m after significant investment in acquisitions, people, products and services; £81.5m headroom in the new £120m Revolving Credit Facility announced in July 2025
• The acquisition of Rayner Spencer Mills Research (RSMR) was completed during HY25 with an initial cash outlay of £6.4m, generating £1.7m in revenue and £0.6m in EBITDA during the period
• 8.3% growth in dividend of 1.3p (HY24: 1.2p) announced, reflecting the continued growth of the business and confident outlook
• Software & Data Division delivered a 17% increase in revenue to £18.4m (HY24: £15.8m), with £12.3m in recurring revenue (HY24: £11.5m). EBITDA was £6.9m (HY24: £6.0m), with organic revenue of £16.7m contributing £6.3m EBITDA
• Services Division revenue increased by 20% to £24.0m (HY24: £19.9m), including £11.9m in recurring revenue (HY24: £9.1m). EBITDA was £6.5m (HY24: £6.0m), with organic revenue of £20.5m contributing £5.8m EBITDA.

Strategic and operational highlights

Restructure positions Fintel for growth

• Acquisitions successfully integrated
• Successful implementation of a new simplified operating structure, accelerating the Group's transition to a software, data, and recurring revenue model
• Simplified operating model from three divisions to two: Software & Data and Services
• New divisional leadership structure: John Milliken (former CEO Defaqto) appointed as CEO of Software & Data Division and Alex Whitson (former CEO VouchedFor) appointed as CEO of Services Division, both with the role of driving growth in the divisions
• New structure better reflects Fintel's growth strategy and ambition to become the software and data provider of choice for the fastest growing segments of UK financial services - creating a focused platform for investment, integration, and cross-selling across the business.
• Completion of the acquisition of RSMR, enhancing Defaqto's fund research and ratings capabilities
• Improved funding facility, with a new £120 million RCF (replacing the previous £80m RCF which was due to be refinanced in Q3 2025) extending financial flexibility and reducing borrowing costs

Outlook

Better positioned to capture substantial opportunities ahead

• Performance since the period end has been consistent with the first six months and in line with the Board's expectations
• Our newly simplified structure, market-leading propositions, and disciplined investment strategy provide a robust platform for long-term value creation
• We remain confident in our ability to drive further growth as we transition to a software- and data-model powered by recurring revenues

Notes

¹ Organic revenue refers to revenues from existing operations, excluding revenue from businesses acquired after 30 June 2024.

² Adjusted EBITDA and adjusted EPS are alternative performance measures for which a reconciliation to a GAAP measure is provided in note 8 and note 

³ 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.

Analyst presentation

An analyst briefing is being held at 9:00 a.m. on 16 September 2025 via an online video conference facility. To register your attendance, please contact 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 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