Focusrite Regulatory News (TUNE)

Strictly embargoed for 07.00, 16th September 2025

Focusrite plc

("Focusrite" or "the Group")

Trading Update: Strong Performance in Six Months to 31 August 2025 Supports Full Year Outturn

Focusrite plc (AIM: TUNE), the global music and audio products group supplying hardware and software used by professional and amateur musicians and the entertainment industry, provides the following update on trading for the 12 month period ended 31 August 2025 ("the Period"). In October 2024, Focusrite announced that it was changing its year end from 31 August to 28 February. As a result, the next audited results will be for the 18 month period to 28 February 2026.

Overall the Group delivered a resilient performance across the Period, achieving growth despite continuing difficult trading conditions. Revenue for the six months to 31 August 2025 is expected to be approximately £87 million (H2 FY24: £81.6 million), with revenue for the Period expected to be approximately £168 million (FY24: £ 158.5 million), representing reported growth of approximately 6% versus the 12 months to 31 August 2024, notwithstanding the negative translational impact of a weakening of the US dollar across the year.

Growth for the Period was supported by strong contributions from Content Creation, where the refreshed Scarlett range and incremental launches in ADAM and Sequential drove increased demand. As highlighted in the interim results for the six months to 28 February 2025, revenue growth in that period had reflected higher sales to the US to mitigate proposed tariff increases. However, this had largely reversed by the end of the Period such that the impact of tariffs on underlying revenue growth was not material for the Period. Audio Reproduction's revenue was marginally lower than the prior year in line with previously indicated post-COVID demand trends but maintains a healthy pipeline and an expanded portfolio of market leading products.

Gross margins improved slightly compared to the gross margin for the 6 months to February 2025, despite tariff increases, with the benefit of selective pricing actions and product launches offsetting ongoing freight pressures and a less favourable regional mix in Audio Reproduction.

As previously indicated, overheads increased compared to the prior year, reflecting the normalisation of variable remuneration alongside inflationary pressures, in line with expectations set at the start of the Period.

While macroeconomic conditions remain uncertain, particularly in the US, the Group has taken proactive steps to mitigate risks through supply chain flexibility, selective price adjustments, and prudent inventory management. The Board continues to expect Adjusted EBITDA1 for the 12 months to 31 August 2025 to be within the current range of market forecasts2.

Net debt has continued to improve year-on-year, closing at approximately £11 million as at 31 August 2025 (31 August 2024: £12.5 million; HY25: £17.9 million). This improvement reflects strong cash generation and disciplined capital allocation. The Group continues to operate well within its £50 million committed credit facilities, maintaining flexibility to support strategic growth initiatives and M&A.

Focusrite will announce its unaudited results for the 12 months ended 31 August 2025 in early November 2025.

1. Adjusted for amortisation of acquired intangible assets and other adjusting items.

2. In so far as the Board is aware, as at 15 September 2025, the range of market forecasts for the 12 month period to 31 August 2025 based on published sell-side research were for Revenue of £162.0 million - £164.0 million and Adjusted EBITDA of £24.5 million - £26.0 million.

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Notes to Editors

Focusrite plc is a global audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and musicians, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under thirteen established brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal Audio, Linea Research, Sequential, Oberheim, Sonnox, OutBoard and TiMax.

With a high-quality reputation and a rich heritage spanning decades, its brands are category leaders in the music-making and audio reproduction industries. Focusrite and Focusrite Pro offer audio interfaces and other products for recording musicians, producers and professional audio facilities. Novation and Ampify products are used in the creation of electronic music, from synthesizers and grooveboxes to industry-shaping controllers and inspirational music-making apps. ADAM Audio studio monitors have earned a worldwide reputation based on technological innovation in the field of studio loudspeaker technology. Martin Audio designs and manufactures performance-ready systems across the spectrum of sound reinforcement applications. Linea Research designs, develops, manufactures and sells market innovative professional audio equipment globally. Sequential designs and manufactures high end analogue synthesizers under the Sequential and Oberheim brands. Sonnox is a leading designer of innovative, high-quality, award-winning audio processing software plug-ins for professional audio engineers. TiMax specialises in innovative immersive audio and show control technologies. OutBoard manufactures and sells industry standard rigging control products for live events, together with enterprise-level safety test, preparation and quality management for global rental companies and venues.

The Group has offices in four continents and a global customer base with a distribution network covering approximately 240 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.