Oxford Metrics PLC

Latest Results (02.02.2026):

Oxford Metrics PLC — FY25 results for the financial year ended 30 September 2025 (annual report for FY25; this is a full-year result rather than a single-quarter filing). The Group returned to growth with revenue up 8% to £44.8m, adjusted EBIT rising 29% to £2.2m, and strong operational cash generation before tax of £6.7m. Motion Capture revenues fell to £32.0m but in‑year order intake rose 21%, while Smart Manufacturing scaled rapidly to £12.8m (up 341%, 38% organic) following two acquisitions. Statutory profit before tax was modest at £0.1m (vs £0.5m prior year) and the statutory basic EPS was a loss of 0.55p, with adjusted basic EPS 1.55p. The Group returned capital to shareholders (buybacks and dividends) and retains a strong cash position of £37.3m (including £22.0m fixed‑term deposits).

Revenue and divisional mix

Group revenue £44.8m (+8%). Motion Capture: £32.0m (down 17% vs FY24) reflecting US academic/entertainment headwinds and a normalised opening order book; in‑year order intake up 21% to £34.8m. Smart Manufacturing: £12.8m (up 341%), driven by 38% organic growth and contributions from The Sempre Group and Amber Optix acquisitions.

Profitability and earnings per share

Adjusted EBIT increased to £2.2m (+29%), driven by higher Smart Manufacturing volumes, Motion Capture margins and cost discipline. Statutory PBT was £0.1m (down 80%) and statutory basic EPS was a loss of 0.55p. Adjusted basic EPS was 1.55p (down from 3.01p), largely affected by lower net finance income (lower interest rates and reduced cash balances) and a range of one‑off adjustments excluded from adjusted measures.

Cash, balance sheet and capital returns

Cash and fixed‑term deposits £37.3m (down 26% from £50.7m), reflecting acquisitions (£4.2m net), dividends (£4.2m) and share buybacks (£8.3m deployed by year‑end; ~£8.6m outflow to date). Operating cash generation before tax improved to £6.7m (FY24: £0.3m) from working capital and inventory optimisation. Net assets £66.4m.

Capital allocation — dividends and buybacks

Dividends paid at 3.25p (FY24: 2.75p); directors propose a final dividend of 3.25p. On‑market buyback programme: £10.0m announced, ~£8.3m deployed in the year (average price ~£0.52 per share). Total returned to shareholders in the year ~£12.5m.

Acquisitions and strategic progress

Two bolt‑on acquisitions completed: The Sempre Group (Oct 2024) and Amber Optix (Apr 2025). These expand Smart Manufacturing capability, IP and market reach and materially increase Smart Manufacturing scale. Management is unifying Smart Manufacturing businesses to improve order‑to‑revenue conversion and margins.

Product and innovation developments

Markerless Motion Capture launched (initially into entertainment) to complement marker‑based systems and create recurring software/ARR opportunities. Valkyrie 6 camera launched at a lower price point to broaden addressable markets. The Group emphasises AI and proprietary motion datasets to support next‑generation products.

Adjustments, impairments and investment

Adjusted measures exclude c.£2.6m of items (amortisation of acquired intangibles, share‑based payments, restructuring, acquisition costs, IMU closure costs and a £0.75m impairment of development costs). R&D: £5.2m expensed, £3.3m capitalised. Goodwill and intangibles rose to £23.7m after acquisitions.

Trading, outlook and governance

Q1 FY26 trading to date is in line with Board expectations. Management is refocusing Motion Capture on higher‑momentum geographies and accelerating Smart Manufacturing integration. Strategy and a three‑year framework will be published in H1 FY26. Board and divisional leadership strengthened (new Chair post‑period and divisional MD appointments).