Made Tech Share Price (MTEC)

MTEC booked more sales in their H2 2026 period than it executed, so how are they "relying only on backlog"

They have to maintain the trend, but that is the same every year.

Will break 20 p

Holding since IPO...sold £300K

V poor outlook re bookings..relying only on backlog.

Will break 25p

.wealthoracle.co.uk/company-results

Made Tech has closed FY26 ahead of recently upgraded market expectations, with Adjusted EBITDA up 69% to £5.9m against consensus of £5.6m, and revenue rising 27% to £58.9m versus the £57.5m the market had pencilled in. The standout figure is margin: Adjusted EBITDA margin expanded 250 basis points to roughly 10.0%, delivered ahead of the company's own previously indicated guidance and underlining genuine operating leverage rather than one-off cost flattery. Cash generation has followed through, with net cash of £14.5m at 31 May 2026 against £10.4m a year earlier and a consensus expectation of £13.5m, leaving the balance sheet debt-free and giving optionality on M&A or accelerated investment. Commercial momentum looks credible into FY27, anchored by a recently awarded £19m Government Digital Service contract and a contracted backlog that the company says provides good revenue coverage. The wider read-through is supportive — the UK Government Spending Review monies become available from April 2026, and Made Tech is positioning AI-led delivery as an incremental growth lane within the public sector estate. CEO Rory MacDonald frames FY26 as transformational and points to a multi-decade public sector AI transformation. With FY27 consensus currently sitting at £60.3m revenue and £6.0m EBITDA, the trajectory implied by today's print and backlog commentary suggests those numbers look conservative heading into the September results.

.wealthoracle.co.uk/company-results