Shearwater Group
SWG · AIM · Technology · mcap £16m · 66.0p
Shearwater provides cyber security, data protection and compliance services, mainly through its Brookcourt subsidiary, plus some software. Customers are large telecom, financial and UK government organisations, usually on multi-year contracts.
| Target | Promise | Said | Status |
|---|---|---|---|
| 2024 | |||
| 31 Mar 2024 | Meet full-year FY24 management expectations | 22 Nov 2023 | ✗ Missed · target changed |
|
Result
April 2024 update said revenue of £22.5m was well below consensus £32.5m and EBITDA below £2.5m. “Revenue in FY24 is expected to be c.£22.5m (FY23: £26.7m), with Adjusted EBITDA1 returning to profit compared to the prior year at just under £1m”3 Apr 2024 · FY24 Trading Update “The Company considers current consensus market expectations, ahead of this trading update, for the year ended 31 March 2024 are for revenues of £32.5m and Adjusted EBITDA of £2.5m.”3 Apr 2024 · FY24 Trading Update |
|||
| 2026 | |||
| 30 Jun 2026 | £3.0m adjusted EBITDA in FY26 for full LTIP vesting | 30 Jan 2025 | ✗ Missed |
|
Result
FY26 adjusted EBITDA was £2.5m, below the £3.0m needed for full vesting. “expected adjusted EBITDA of £2.5m, an annualised increase of 41% (FY25: £2.2m)”27 Jul 2026 · FY26 Trading Update |
|||