FY26 Trading Update

Netcall plc (AIM: NET), an enterprise software company that unites automation and customer engagement in one AI-powered platform, provides the following trading update for the financial year ended 30 June 2026 ("FY26"). All numbers remain subject to audit.

The Board expects to report FY26 results in line with market expectations1, with another year of strong, profitable growth and increased cash generation.

Revenue is anticipated to increase by 20% to £57.7m (FY25: £48.0m), including organic growth2 of 12%, alongside contributions from recent acquisitions. Growth came from continued expansion across the existing customer base and a further increase in new customer wins across the Group's key markets.

Adjusted EBITDA3 is anticipated to increase by 23% to £12.1m (FY25: £9.8m), with the Adjusted EBITDA margin rising to 21% (FY25: 20%). Approximately 30% of incremental organic revenue converted to Adjusted EBITDA, reflecting operating leverage from growth in subscription revenues.

Cloud Annual Contract Value ("Cloud ACV")4 increased by 37% to £46.3m (FY25: £33.9m), including underlying organic growth5 of 24%. Total ACV grew by 27% to £53.7m (FY25: £42.2m), driven by new customer wins and existing customers adopting additional Liberty subscriptions and modules. This further strengthens the Group's recurring revenue base and future revenue visibility.

AI adoption continued to accelerate, with sales of Netcall's AI-related products reaching almost three times the prior-year level. More than 40% of new Cloud sales orders included these products as customers deployed them across customer engagement and automation workflows.

The integration of Jadu, acquired in December 2025, has progressed well: organisational integration is complete, annualised cost synergies of close to £1.0m have been achieved and initial cross-sales have been secured. The acquisition broadens the Group's digital experience and AI capabilities, creating further cross-sell opportunities across both customer bases.

The Group ended FY26 with net cash, being cash less borrowings, of £21.0m (FY25: £27.2m), after acquisition-related payments of £13.4m during the year, net of cash acquired. The Group remains highly cash-generative, with a growing base of recurring revenue and balance sheet strength providing the financial capacity to continue investing in Liberty and pursue further accretive M&A opportunities.

The sales pipeline at the start of FY27 is at a record level, supported by demand for Cloud-based automation and AI-enabled solutions.

James Ormondroyd, Chief Executive, said: "We delivered another year of strong, profitable growth, with continued demand for our AI-powered Liberty platform. Revenue grew by 20%, with Adjusted EBITDA up 23% and underlying organic Cloud ACV up 24%.

"Sales of our AI-related products almost tripled, with these products included in more than 40% of new Cloud orders as customers moved from experimentation to live use across customer interactions and workflows.

"We enter FY27 with a record sales pipeline and remain focused on investing in Liberty, expanding its use among our customers and adding complementary capabilities through selective acquisitions."

Notes

All numbers for the year ending 30 June 2026 disclosed within this announcement are management estimates based on current information and are unaudited.

1 Netcall believes that consensus market expectations for the year ended 30 June 2026 are revenue of £57.6m, Adjusted EBITDA of £12.0m and net cash, being cash less borrowings, of £20.4m.

2 Organic growth excludes revenues from the acquisitions of Jadu Holdings Limited, Smart and Easy NV and Govtech Holdings Limited.

3 Profit before interest, tax, depreciation and amortisation adjusted to exclude the effects of share-based payments, impairment, profit or loss on disposals, contingent consideration and non-recurring transaction costs.

4 ACV, as at a given date, is the total of the value of each cloud and support contract divided by the total number of years of the contract plus the annualised value of recurring Intelligent Document Processing ("IDP") revenue.

5 Underlying organic Cloud ACV growth excludes the effect of ACV acquired in the period and the change in ACV from the contract win announced on 10 June 2022, and its renewal announced on 20 July 2023.