Ondo InsurTech Plc reports 40% revenue growth, strong US expansion
Why we think this is good
Ondo InsurTech has reported strong 40% year-on-year revenue growth, driven by successful scaling of its US operations. The company has secured new insurer partnerships, including with a top 20 US homeowner insurer, and has a robust financial position with £4m in cash. While there were some delays in Sweden, the overall performance and outlook appear positive.
Key Points
- 40% year-on-year revenue growth to not less than £3.8m
- Registered customers up 59% to approximately 151,000
- Annualised contracted recurring revenue of £5.9m
- Strong cash position of £4.0m with no anticipated need for future funding
- Successful scaling of US operations with 435% year-on-year growth in registered customers
Summary
Ondo InsurTech Plc (LSE: ONDO), a leading provider of claims prevention technology for home insurers, has reported strong trading results for the year ended 31 March 2025. Key highlights include:
- 40% year-on-year revenue growth to not less than £3.8m (2024: £2.7m)
- Registered customers up 59% to approximately 151,000
- Annualised contracted recurring revenue of £5.9m, boosted by a deal with a top 20 US homeowner insurer
- Strong cash position of £4.0m (before loan note repayments), with no anticipated need for future funding
- Successful scaling of US operations, with 435% year-on-year growth in registered customers
The company's focus is on scaling existing partnerships, accelerating US adoption, and increasing production to meet growing demand. While there were some delays in Sweden, the overall performance and outlook appear positive.