Microlise Group (SAAS): OEM customer order weakness
This situation live
SAAS Microlise Group
24 Nov 2025 · OEM revenue falling; FY26 seen below FY25 · −58% until the next step
At the current time, we are cautiously expecting FY26 revenues from our OEM customers to be below FY25 levels.
14 May 2026 · Early signs of stabilisation; FY26 still lower · −7% until the next step
We continue to expect FY26 revenues from OEM customers to be below FY25.
3 Aug 2026 · OEM ARR down to £13.7m; still weak · +22% until the next step
While ARR relating to OEM customers reduced from £16.7m in H1 2025 to £13.7m in H1 2026, due mainly to lower renewals
22 Sep 2026 · Non-recurring revenue timing risk persists · +35% since
Within our OEM business, where FY26 revenues are expected to be lower than FY25 predominantly due to lower renewals, the focus for H2 remains on progressing planned customer deployments and new custom
OEM customer order weakness
Non-recurring revenue timing risk persists
Next: planned customer go-lives in H2
Every step · 4
- 24 Nov 2025 OEM revenue falling; FY26 seen below FY25 – At the current time, we are cautiously expecting FY26 revenues from our OEM customers to be below FY25 levels. ↗
- 14 May 2026 Early signs of stabilisation; FY26 still lower – We continue to expect FY26 revenues from OEM customers to be below FY25. ↗
- 3 Aug 2026 OEM ARR down to £13.7m; still weak – While ARR relating to OEM customers reduced from £16.7m in H1 2025 to £13.7m in H1 2026, due mainly to lower renewals ↗
- 22 Sep 2026 Non-recurring revenue timing risk persists – Within our OEM business, where FY26 revenues are expected to be lower than FY25 predominantly due to lower renewals, the focus for H2 remains on progressing... ↗
What is happening
Microlise Group: OEM customer order weakness – Non-recurring revenue timing risk persists. ['Non-recurring revenue timing risk persists']
- Announced
- 24 Nov 2025 · OEM revenue falling; FY26 seen below FY25
- Latest
- 22 Sep 2026 · OEM ARR down 18%; FY26 revenue lower
- What it changes
- Interims confirm the 3 August update with no new surprises. Direct ARR growth and margin recovery offset OEM decline, but a revenue return to growth still depends on H2 hardware timing.
What comes next
planned customer go-lives in H2.
From the company's own announcements. Not investment advice.
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Turnaround plan with targetsAccelerated FY26 investment programme – Progressing; H1 margin 13.2%
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