Netcall PLC

Latest Results (01.09.2026):

Netcall PLC — results for the first half of FY26 (six months ended 31 December 2025): revenue grew 15% y/y to £26.5m driven by cloud and the December acquisition of Jadu; Cloud ACV hit £42.6m (up 42%) and Total ACV reached £50.5m (+28%); adjusted EBITDA rose 13% to £6.45m and adjusted profit before tax increased 11% to £5.43m, while statutory profit before tax fell to £2.54m after acquisition-related and share‑based charges. The Group finished the period net cash positive (£14.8m) and reports a record contracted order book of £92.4m, supporting a positive outlook for FY26.

Key financials

Revenue £26.5m (+15% y/y); Cloud services revenue £17.9m (+34%); Adjusted EBITDA £6.45m (+13%); Adjusted PBT £5.43m (+11%); statutory PBT £2.54m (down 31%) due to acquisition-related costs and higher share‑based payments.

ACV and cloud momentum

Total ACV £50.5m (+28%); Cloud ACV £42.6m (+42%) and now 84% of total ACV (H1 FY25: 76%), strengthening forward revenue visibility and recurring revenue (Cloud + product support = 83% of total revenue).

Customer retention & expansion

Cloud net retention remained strong at 115%, with expansion within existing customers and higher-value new accounts driving growth; ~30 new clients added in H1 and partner channels contributed ~20% of bookings.

AI adoption

AI-related bookings more than tripled year-on-year and represent a significantly higher share of new ACV, with AI embedded across agent‑assist, voice automation and self‑service driving upsell and customer value.

Acquisition — Jadu

Jadu acquired 9 December 2025 (fair value consideration £14.64m): expands digital experience capability, increases UK local government coverage to ~1-in-2 councils, adds US partner routes; Jadu contributed £0.51m revenue and break‑even adjusted EBITDA in the period.

Cash, balance sheet & cash flow

Group cash at period end £14.8m (net funds £13.8m) after c.£12.7m of acquisition-related payments; Group remained debt‑free. Operating cash flow before certain one-offs was £1.84m and cash conversion is seasonally weighted to H2.

Order book & revenue visibility

Remaining Performance Obligations (RPO) / contracted order book rose 30% to £92.4m, with Current RPO (next 12 months) £47.9m (+29%), providing material near-term revenue visibility.

Outlook

Management reports continued H2 momentum, a strong pipeline and confidence in delivering progress in FY26, citing cloud subscription growth, AI adoption, integration benefits from Jadu and a debt‑free, cash‑generative position to support investment and selective M&A.