LONDON (ShareCast) - (Sharecast News) - Tribal Group's share price surged on Friday morning after the education tech and services group delivered a bullish fourth-quarter trading update and confident outlook for 2025.
The company said that adjusted EBITDA for 2024 would be "substantially ahead" of current market expectations, with analysts currently forecasting no change on the £14.4m made in 2023.

Annual revenues are also expected to be ahead of the £85.6m consensus forecast, which was also flat on the year before.

Tribal said that a strong performance by the software-led Student Information Systems division has offset a softening in markets for its education consultancy business, Etio.

Annual recurring revenue (ARR) of the core business was up 9% on the year before at £54.8m, and the company expects continued ARR growth in 2025.

Meanwhile, the company ended the year with net debt of just £3.2m, down from £7.2m in 2023 and well below the £9.4m expected by the market.

"I am pleased with the performance delivered in FY24 as we focus on the transformation of Tribal into a leading cloud provider to the education market. We have delivered EBITDA and revenue ahead of expectations, alongside a material reduction in our debt, all amidst a challenging market environment," said chief executive Mark Pickett.

Ahead of Tribal's full-year results at the end of March, the group revealed it would take a £1.4m write-down related to Tribal Data Engine with an alternative Tribal product proving more cost effective for customers.

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