Celebrus Technologies sells software that captures what visitors do on banks', insurers' and retailers' websites and apps, so the firms can market better and catch fraud. Through 2024 it grew recurring revenue and made about $9m of adjusted profit. In the year to March 2026 reported revenue fell 39% and profit almost vanished, partly through a deliberate accounting change and partly through weak new sales. By October 2026 the company reported a smaller order book, a bigger expected loss and falling cash.
Software that watches the digital customer
Celebrus captures data from websites, mobile apps and other digital channels, including from visitors who are not logged in. It turns that data into customer profiles and passes it to other systems in real time. Customers use it for marketing and for fraud prevention. They are mainly large financial institutions, insurers and retailers, plus airlines and a US healthcare group. The company says it operates in over 30 countries.
Revenue comes from Celebrus licences, managed services, support and implementation work. Contracts run three years and are invoiced annually up front. New customers now run Celebrus Cloud, a single-tenant private cloud the company manages for them. Software earns a gross margin of about 95%. Third-party hardware and software resold to customers earns far less, and the company is steering away from it. That line fell from $16.1m to $3.3m in the latest year. One new customer, a European financial services firm, chose Celebrus to replace Adobe. 14 Jul 2026 2 Dec 2025 15 Jul 2025
A software-only business starts to grow (2023–24)
In the year to March 2024 the company finished refocusing on software sales. Recurring revenue grew 21% to £20.2m, and adjusted profit rose to £6.0m. The company added a Customer Success team to expand business inside existing accounts. It renamed itself Celebrus Technologies in late 2023. New logos included a US healthcare group and a European retailer.
The shares rose from about 158p in October 2023 to 285p by mid-2024 and peaked at 302.5p in November 2024. 9 Jul 2024 27 Nov 2023 8 Jan 2024 3 Dec 2024
Changing how revenue is counted (2025)
Customers slowed their decisions in the second half of the year to March 2025. In April 2025 the company said revenue would miss expectations while adjusted profit, at $8.7m, would beat them. It also narrowed its definition of annual recurring revenue (ARR) to Celebrus licences and managed services. On the new basis, ARR was $18.8m rather than the $26.2m shown at the half year under the old definition.
From 1 April 2025 it began recognising licence revenue monthly over each contract, rather than in full on each anniversary. Invoicing and cash collection did not change. The company said this would lower reported revenue for three years while old contracts roll over. The shares fell from 267.5p in December 2024 to 145p by June 2025. 22 Apr 2025 15 Jul 2025 3 Dec 2024 14 Jul 2026
A year of sharp falls on paper, and weak new sales (FY26)
Revenue for the year to March 2026 was $23.6m against $38.7m. Adjusted profit before tax was $0.2m against $8.7m. The fall came from the accounting change and from the run-down of third-party sales. Celebrus ARR still rose 10% to $15.0m, but it had been $15.6m at the half year. Gross new and upsell ARR was $2.3m, down from $2.5m. Net revenue retention, which compares recurring revenue from existing customers with a year earlier, slipped to 96.7% from 104.1%. Two banks cut their contracts after divesting parts of their businesses, a $0.6m hit.
Management said deals at contract stage in the fourth quarter were lost or delayed. The company has said some of the causes were within its own control. In December the board had said trading was in line with expectations. The shares fell from 135p at the end of 2025 to 91p in March 2026. 14 Jul 2026 2 Dec 2025 9 Apr 2026
“FY26 was a year where our platform and our people proved their quality, but in which new business didn't perform where we needed it to.” 14 Jul 2026
What explains the record
Two things stand out. First, the business model changed under investors' feet. Moving to monthly revenue recognition and shedding low-margin resale cut reported revenue and profit, although cash invoicing did not change. Second, selling to large institutions proved lumpy. Existing customers renewed and upsold, but new logos did not arrive consistently. The company's own Chairman said new business fell short and that the board had been direct with management about it. The company also names customers' fear of change and tighter budgets as a headwind. 14 Jul 2026 2 Dec 2025 15 Jul 2025
Restructuring sales, returning cash
Bill Bruno is chief executive and Ash Mehta is finance chief. Tom Skelton became chair in 2024. For FY27 the company split its commercial team into three: Marketing generates leads, Sales wins new logos only, and Customer Success owns renewals and upsells. It hired more experienced salespeople and defined three sales pitches. It also finished moving the v10 platform to the cloud and launched AI features, including a server that lets customers query Celebrus data through AI assistants.
Operating costs fell 7.6% to $21.2m. The company kept raising its dividend, to 3.39p for the year, and kept buying back shares. Bruno and Mehta sold shares in October 2024 and Bruno sold again in September 2025, each time alongside option exercises. In July 2026 Mehta and a non-executive director bought shares. Mission Trail Capital built a stake of 29.5% between November 2025 and May 2026. Rathbones cut its holding from 13.9% to 0.4%. 14 Jul 2026 28 Oct 2024 12 Sep 2025 16 Jul 2026 17 Jul 2026 15 Jul 2026 25 Nov 2025 7 Nov 2025 20 May 2026 19 May 2026
Smaller order book, shrinking cash
On 6 October 2026 the company said first-half revenue fell 12% to $9.2m, with software revenue up at $8.9m. It reported an adjusted loss of $1.3m and Celebrus ARR of $14.7m, down from $15.0m at March. Cash was $22.3m, against $32.5m at March, and the company has no debt. The material does not say what drove the fall in cash. The company described the results as below expectations. The shares closed at 54.4p on 9 October 2026, against 96p at the end of September. 6 Oct 2026 14 Jul 2026
Proof promised for the second half
On 6 October 2026 the company guided FY27 to revenue of $20.0–20.5m and an adjusted loss of $2.8–3.0m. In July it had promised to convert its pipeline into ARR growth in FY27. It has since reported lower ARR and an expected loss. It has said it will improve lead generation, deal closing and service delivery in three areas and prove this in the second half. It had also said the new structure would show clearly in FY27 operating results. The company reports two new logos and one upsell in the weeks after March 2026. Half-year results are due on 8 December 2026.
Open questions are whether new logo wins pick up, how fast cash declines, and whether the company resumes the M&A it has said it might consider once organic growth is proven. 6 Oct 2026 14 Jul 2026
“We expect the foundations we've laid in the product and our go-to-market approach to show clearly in our operating FY27 results.” 14 Jul 2026
Written by AI from Celebrus Technologies's own announcements since Oct 2023 · every paragraph links to its sources