Idox reports strong first-half trading performance
By Josh White
Date: Thursday 22 May 2025
(Sharecast News) - Idox reported a strong trading performance for the six months ended 30 April on Thursday, with group revenue rising to £45m, up from £43.1m a year earlier.
The AIM-traded company said it saw recurring revenue grow by around 9%, although that was partially offset by an expected reduction in non-recurring revenue.
Adjusted EBITDA rose by over 6% to £13.9m, in line with expectations.
Order intake increased 9% year-on-year to £59m, supported by new contract wins in the company's assets division and its geospatial data business.
Idox said the wins provided enhanced revenue visibility into the second half of the financial year and into 2026.
The group said it generated strong cash flow during the period, and ended the half-year in a net cash position of £0.2m, marking a significant improvement from the £9.9m net debt position reported at 31 October.
"The group has delivered a positive performance during the first half, in line with the board's expectations, with good revenue and adjusted EBITDA growth as well as solid order intake providing good future visibility," said chief executive officer David Meaden.
"We have significantly reduced our net debt since the end of the 2024 financial year to a net cash position as we continue to drive positive cash performance in the business.
"Our merger and acquisition pipeline is healthy, and we were pleased to complete the acquisition of Plianz shortly after the half year end to strengthen our existing social care offering and build on our strong public sector software capabilities."
Meaden said the company remained confident of adding to its existing portfolio of specialist software and geospatial data solutions to deliver further profitable growth.
"We are pleased with our progress and positive momentum and are confident that Idox is well positioned for growth in the remainder of 2025."
Idox said it expected to report its first-half results on 12 June.
At 1130 BST, shares in Idox were down 3.39% at 57p.
Reporting by Josh White for Sharecast.com.
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