As we wrap up Financial Year 2025, we’re taking a moment to reflect on a year marked by solid progress, careful planning, and strong contributions across the company. In our latest company meeting, CEO Eric shared an update on our performance and outlined where we’re headed next. Here’s a recap.
Financial Year 25 Review
Revenue and Profit
In FY25, we generated £19.5 million in revenue and achieved a gross profit of £12.6 million, giving us a 65% margin—a 5 percentage point improvement on the previous year. This gain was driven by better efficiency and productivity across the organisation.
Overheads and EBITDA
We brought overheads down from £8.7 million to £7.3 million, which helped deliver an EBITDA of £5.3 million. After factoring in leadership team costs, migration work, exceptionals, non-executive and investor expenses, we ended the year with a net profit of £2.5 million, compared to a £1.2 million loss in FY24.
Future Projections
Looking to FY26, we’re forecasting continued growth with £22.3 million in turnover and £3.5 million in net profit. The focus remains on steady progress and strong financial health.
Sales Performance
Sales Growth
Total sales rose from £5.1 million in 2024 to £6.3 million in 2025. Our target for FY26 is £6.8 million, and if our current momentum continues, sales could exceed £7.5 million.
Sales Win Rates
Our win rates improved across the board:
- For existing opportunities: from 43% to 83%
- For new business: from 23% to 30%
These improvements reflect strong work from our sales team and better alignment between product, service, and customer expectations.
Customer Churn
We reduced our rate of notified customer leavers this year. The formation of new scrum teams—such as the solvers—has played an important role in strengthening customer relationships and addressing issues faster.
Reducing attrition is critical to sustaining revenue and supporting long-term growth. This progress directly contributes to a more stable and predictable business.
Compliance and Certifications
We maintained green status on all compliance certificates throughout the year, a strong signal of our commitment to high standards and regulatory best practice.
These certifications are not just a formality—they’re essential for maintaining customer trust, securing data, and remaining competitive when bringing in new clients.
Net Promoter Score (NPS)
Our NPS has shown consistent improvement over the past two and a third years. Since October, we’ve consistently surpassed our internal target of 30.
Customer service continues to be a major driver of NPS performance. Better support, clearer communication, and quicker issue resolution have played a key role in both retaining clients and attracting new ones.
Market Opportunities
With the acquisition of Apogee, our addressable market increased from £39 million to £77 million. This gives us significant room to grow, especially with new and evolving product lines.
We’re not seeing many new entrants in the integrated HR and payroll space, which means we’re well positioned to continue expanding without needing to compete heavily on price.
Currently, we generate £3–4 million in new product sales each year. With the larger market in view, we believe there is potential to grow that figure to £11 million annually.