TruFin Reports Strong H1 2025 Results, But Warns of Headwinds
Why we think this is neutral
TruFin has delivered impressive financial results for H1 2025, with significant increases in revenue, EBITDA, and profit before tax. The company's gross revenue grew by 42% to £36.0m, while profit before tax surged by 2,711% to £4.6m. These figures demonstrate strong operational performance and improved profitability. However, the outlook is tempered by several factors. The company has highlighted headwinds, challenging market conditions, and economic uncertainties that could impact future growth, particularly in the public sector for its Oxygen business. While the current financial position is robust, with a healthy cash balance and improved margins, the cautious outlook and external challenges suggest potential hurdles in maintaining this growth trajectory. The balance between strong current performance and future uncertainties leads to a neutral sentiment, as the market will likely weigh the impressive results against the cautious forward-looking statements.
Key Points
- Gross revenue up 42% to £36.0m
- Profit before tax increased 2,711% to £4.6m
- Adjusted EBITDA up 136% to £6.9m
- Playstack (gaming division) revenue grew 52% to £30.7m
- Oxygen faced headwinds in public sector business
- Cash balance increased to £18.0m from £14.9m at end of 2024
- Announced £4m share buyback program
- Warned of challenging market conditions and economic uncertainties
Summary
TruFin plc has reported robust financial results for H1 2025, with gross revenue increasing 42% to £36.0m and profit before tax surging 2,711% to £4.6m. The company's gaming division, Playstack, was a standout performer with 52% revenue growth. However, TruFin has cautioned about headwinds and challenging market conditions, particularly affecting its Oxygen business in the public sector. The company maintains a strong cash position of £18.0m and has announced a £4m share buyback program. Despite the strong performance, management has highlighted economic uncertainties and external challenges that could impact future growth.