Trading Update

In brief · summary, not quotable

FY24 revenue exceeded £111m guidance, adjusted EBITDA margin 28%, debt fully repaid, January 2025 record revenue.

vs expectations: ahead

Revenue greater than £111 million (prior guidance £108-£111 million)
Adjusted EBITDA margin approximately 28% (prior guidance 27-29%)
Adjusted EBITDA approximately £31 million
Cash balances approximately £7.5 million

Full announcement

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The Board of Elixirr International plc (AIM: ELIX) ("Elixirr", the "Company") the established, global, award-winning, challenger consultancy, is pleased to provide an update on trading.

The Group finished the financial year ended 31 December 2024 ("FY 24") strongly.

Subject to audit, FY 24 results are expected to be above market expectations with:

Revenue greater than £111 million, above the guidance range of £108 - £111 million
Adjusted EBITDA margin of approximately 28%, in the middle of the guidance range of 27-29%
Adjusted EBITDA of approximately £31 million
Cash balances of approximately £7.5 million, having fully repaid the debt drawn under the Company's £45 million revolving credit facility to finance the acquisition of Hypothesis Group, LLC

The Board is pleased to note that the unaudited FY 24 results continue Elixirr's track record of achievement of the Rule of 40. In every year since Elixirr's IPO, the sum of its revenue growth and Adjusted EBITDA margin have exceeded 40%.

Momentum has continued into 2025 with record revenue for January.

The Group will announce its full year FY 24 results on 28 April 2025.