Idox flags revenue slightly below expectations

(Sharecast News) - Idox said in an update on Tuesday that full-year revenue would come in slightly below its earlier expectations after a softer second half, though profitability and net debt were set to be broadly in line with forecasts.

Its update came ahead of its recommended cash takeover by Frankel UK Bidco, announced last month, and covered the 12 months ended 31 October.

The AIM-traded software and geospatial data provider said it expected to report revenue of about £90m, compared with £87.6m last year.

Recurring and repeatable revenue was anticipated to rise to roughly £60m from £54.5m, helped by a £1.3m contribution from Plianz, acquired in May for £7.7m.

That was partly offset by a decline in non-recurring revenue to around £30m from £33.1m, reflecting the absence of the election-related uplift and cyclical strength in land, property and public protection seen in the 2024 financial year.

Order intake increased to about £108m from £102m, with solid growth in the assets division and geospatial data operations.

Adjusted EBITDA was expected to be about £27m, up from £26.1m, maintaining a margin close to 30%.

Net debt at year-end was forecast at around £13m, compared with £9.9m a year earlier, after funding the Plianz acquisition.

The group said it continued to generate "good" cash flows during the period and plans to publish full results in late January.

"The group has delivered a resilient performance for 2025, benefiting from a strong first half," said chief executive David Meaden.

"We are pleased that we have continued to grow our recurring and repeatable revenue and increase our adjusted EBITDA through balancing disciplined cost management and levels of investment.

"The acquisition of Plianz during the year strengthened our existing Health and Social Care offering and enhanced our recurring revenue base."

At 1426 GMT, shares in Idox were up 0.28% at 70.8p.

Reporting by Josh White for Sharecast.com.