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essensys (ESYS) investor relations material
essensys H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary13 Mar, 2025
Executive summary
Returned to profit in H1 2025 with adjusted EBITDA of £0.8m, a near 300% improvement year-over-year, reflecting operational simplification and cost management.
Revenue declined 11% year-over-year to £10.4m, mainly due to the downsizing of a single strategic customer and reduction in low-margin network services.
Launched elumo, a new bookings and access platform for flexible workspaces, expected to drive growth over the next five years.
Announced CEO succession: James Lowery to replace Mark Furness as of May 1, 2025, as part of long-term succession planning.
Gross margin improved to 59%, up from 57% in the prior year, supported by data centre decommissioning and a better revenue mix.
Financial highlights
Adjusted EBITDA of £0.8m, up from a £0.5m loss in the prior year period, with margin at +8% versus -4% last year.
Cash balance at period end was £2.2m, with no debt and an undrawn £2m loan facility.
Operating expenses reduced by 29% year-over-year to £5.3m, reflecting cost discipline.
Recurring revenue declined 9% year-over-year to £9.2m, now 88.4% of total revenue; underlying ARR growth of 5% in the strategic customer cohort.
Run Rate ARR at £16.8m, down 16% year-over-year due to a single customer; excluding this, ARR fell 1%.
Outlook and guidance
On track to meet full-year revenue expectations and run-rate cash generation by end of FY2025.
Margins projected to approach 70% next year as data centre decommissioning completes.
Further gross margin improvement expected in H2 25 as more data centres are decommissioned.
Strategic shift away from network services will reduce revenue in FY26 but improve cash generation and margins.
Anticipate positive momentum and revenue growth from elumo in the next 12 months.
How will elumo drive growth over the next 5 years?
Why extend the data centre decommissioning?
What is the FY26 revenue outlook?
elumo's unique differentiation in the market?
New CEO's immediate execution priorities?
Mitigate strategic customer downsizing risk?
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H2 20259 Jan, 2026
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Frequently asked questions
essensys plc is a UK-based technology company specializing in software and solutions for flexible workspace management. The company provides a platform that enables workspace operators to streamline operations, deliver digital services, and enhance tenant experiences. essensys' offerings include tools for connectivity, infrastructure management, and space optimization. The company is headquartered in London, United Kingdom, and its shares are listed on the London Stock Exchange.
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