Getech Grp Share Price (GTC)

2.15... 0.00 (0.00%) ...Bid: 2.00...Ask: 2.30...Spread: 0.30 (15.00%)

Market Cap: £3.28m

Cavendish are on it 30/4/26.

Target 4p

Return to growth Getech has reported its FY25 results, reporting a c7.3% YoY increase in revenue and the Company’s first positive EBITDA since 2019. With an expanded and re-organised sales team already delivering results, the focus for 2026 will be on increasing annualised recurring revenue (ARR) to deliver retained, predictable revenue and the conversion of a larger and higher-quality new business pipeline. — Return to growth: Getech has reported revenues in line with expectations at £5.0m, a 7.3% YoY increase (FY24: £4.7m) and EBITDA of £0.5m (FY24: £0.6m loss). This is the first positive EBITDA figure for the Company since 2019 and follows a reset to the Company’s financial base, where £1.0m of annualised costs were taken out of the business. Cash at YE25 stood at £0.2m (net cash £0.0m), with Getech’s cash balance boosted post period owing to the receipt of a £0.4m delayed payment following the US government shutdown in 4Q25. The Group orderbook stood at £3.8m at YE25 (YE24: £4.1m), with £2.5m contractually due to unwind into revenue during 2026 and annual recurring revenue at YE25 was £2.8m (YE24: £2.9m). — New sales strategy delivering results: In 1H25, Getech expanded its sales team in the UK and the US with the addition of senior hires alongside a new structure and approach to identifying, developing, and securing new business opportunities. The FY25 results are an indication that the recent changes to the sales team are delivering tangible results, with both higher revenues and a deeper, higher-quality sales pipeline. ARR is a focus for 2026, to provide a higher level of retained, predictable income that better covers the base costs, whilst also allowing Getech to successfully close the material deals that will drive outperformance. — Operational highlights: 2025 marked a year of strong operational progress for Getech, as it executes on its strategy of being the world’s most trusted source of subsurface and geospatial insight for the global natural resources sector. Building on its core of long-standing petroleum sector and mining expertise, the Group continued its diversification into natural hydrogen, helium and geothermal. — Current trading: Trading for the 3M26 has been solid, with revenue 5% ahead of 2025 and EBITDA on track to be ahead of last year. Following a strong period of receivables in 1Q26, cash as at 31 March 2026 increased to £0.8m, representing >25% of the Company’s current market cap. Management’s primary focus for 2026 is sales execution and increasing ARR to sustainably cover the cost base (2025: c£4.8m). Against a backdrop of record low reserve replacement rates, the recent instability in the Middle East has highlighted the critical importance of secure global energy supplies, driving renewed demand for high-quality exploration and Getech’s offerings. — 2027 estimates: continues

Vote NO to resolutions 5-10.

The AGM notice is demanding they have the unconditional right to ~33% dilution at their sole discretion. Shareholders should have the final say on any placing or share issue. This is just a cynical ploy for them to do a discounted placing and raise money to pay their salaries whilst delivering no growth. This is the worst of AIM. I am happy to be diluted if they put up a good business case.

Take a stand and say NO to resolutions 5-10. Shareholders should have the final say.

My Take FWIW:

* The core business (Globe ARR) is effectively flat.

* Expert services are down materially (-18%), reflecting an overcorrection on cost cutting that has reduced delivery capacity for consulting projects.

* Spot sales are up sharply (+85%), suggesting opportunistic monetisation of existing data to support revenues. This is inherently non-recurring and constrained by a finite customer base and limited new data being added to the platform.

Overall, the business has been stabilised through cost reduction, but at the expense of its core revenue engines. Both Globe (subscription/data) and consulting appear to be under pressure, and the Company lacks the capital to reinvest meaningfully in growth.

On that basis, the broker’s forecasts look highly optimistic and unlikely to be met without a step-change in execution or new capital (READ: Discounted Placing).

Impressive turn around going on here. Share price not moving as Armstrong is selling out into any good news, but it’s a solid business with £5 mil revenue, they just need to fix the balance sheet after the last CEO went chasing hydrogen unicorns. How much is this worth with a couple of million in the bank and 5+ million revenue?

Well we are lucky this aint be delisted like wsg etc