REG - Focusrite PLC - Trading Update

FocusriteAnnouncement

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RNS Number : 4130Z  Focusrite PLC  16 September 2025

Strictly embargoed for 07.00, 16(th) September 2025

Focusrite plc

("Focusrite" or "the Group")

Trading Update: Strong Performance in Six Months to 31 August 2025 Supports
Full Year Outturn

Focusrite plc (AIM: TUNE), the global music and audio products group supplying
hardware and software used by professional and amateur musicians and the
entertainment industry, provides the following update on trading for the 12
month period ended 31 August 2025 ("the Period"). In October 2024, Focusrite
announced that it was changing its year end from 31 August to 28 February.
As a result, the next audited results will be for the 18 month period to 28
February 2026.

Overall the Group delivered a resilient performance across the Period,
achieving growth despite continuing difficult trading conditions.  Revenue
for the six months to 31 August 2025 is expected to be approximately £87
million (H2 FY24: £81.6 million), with revenue for the Period expected to be
approximately £168 million (FY24: £ 158.5 million), representing reported
growth of approximately 6% versus the 12 months to 31 August 2024,
notwithstanding the negative translational impact of a weakening of the US
dollar across the year.

Growth for the Period was supported by strong contributions from Content
Creation, where the refreshed Scarlett range and incremental launches in ADAM
and Sequential drove increased demand. As highlighted in the interim results
for the six months to 28 February 2025, revenue growth in that period had
reflected higher sales to the US to mitigate proposed tariff increases.
However, this had largely reversed by the end of the Period such that the
impact of tariffs on underlying revenue growth was not material for the
Period.  Audio Reproduction's revenue was marginally lower than the prior
year in line with previously indicated post-COVID demand trends but maintains
a healthy pipeline and an expanded portfolio of market leading products.

Gross margins improved slightly compared to the gross margin for the 6 months
to February 2025, despite tariff increases, with the benefit of selective
pricing actions and product launches offsetting ongoing freight pressures and
a less favourable regional mix in Audio Reproduction.

As previously indicated, overheads increased compared to the prior year,
reflecting the normalisation of variable remuneration alongside inflationary
pressures, in line with expectations set at the start of the Period.

While macroeconomic conditions remain uncertain, particularly in the US, the
Group has taken proactive steps to mitigate risks through supply chain
flexibility, selective price adjustments, and prudent inventory management.
The Board continues to expect Adjusted EBITDA(1) for the 12 months to 31
August 2025 to be within the current range of market forecasts(2).

Net debt has continued to improve year-on-year, closing at approximately £11
million as at 31 August 2025 (31 August 2024: £12.5 million; HY25: £17.9
million). This improvement reflects strong cash generation and disciplined
capital allocation. The Group continues to operate well within its £50
million committed credit facilities, maintaining flexibility to support
strategic growth initiatives and M&A.

Focusrite will announce its unaudited results for the 12 months ended 31
August 2025 in early November 2025.

(1.) Adjusted for amortisation of acquired intangible assets and other
adjusting items.

(2.) In so far as the Board is aware, as at 15 September 2025, the range of
market forecasts for the 12 month period to 31 August 2025 based on published
sell-side research were for Revenue of £162.0 million - £164.0 million and
Adjusted EBITDA of £24.5 million - £26.0 million.

- Ends -

 

 Enquiries:
 Focusrite plc                                     +44 (0) 1494 462246
 Tim Carroll (CEO) / Sally McKone (CFO)
 Investec Bank plc (Nominated Adviser and Broker)  +44 (0) 20 7597 5970
 David Flin / Nick Prowting / James Smith
 Rosewood (Financial PR)                            +44 (0) 20 7653 8702
 John West / Llewellyn Angus / Lily Pearce

Notes to Editors

Focusrite plc is a global audio products group that develops and markets
proprietary hardware and software products. Used by audio professionals and
musicians, its solutions facilitate the high-quality production of recorded
and live sound. The Focusrite Group trades under thirteen established brands:
Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal
Audio, Linea Research, Sequential, Oberheim, Sonnox, OutBoard and TiMax.

With a high-quality reputation and a rich heritage spanning decades, its
brands are category leaders in the music-making and audio reproduction
industries. Focusrite and Focusrite Pro offer audio interfaces and other
products for recording musicians, producers and professional audio facilities.
Novation and Ampify products are used in the creation of electronic music,
from synthesizers and grooveboxes to industry-shaping controllers and
inspirational music-making apps. ADAM Audio studio monitors have earned a
worldwide reputation based on technological innovation in the field of studio
loudspeaker technology.  Martin Audio designs and manufactures
performance-ready systems across the spectrum of sound reinforcement
applications. Linea Research designs, develops, manufactures and sells market
innovative professional audio equipment globally. Sequential designs and
manufactures high end analogue synthesizers under the Sequential and Oberheim
brands. Sonnox is a leading designer of innovative, high-quality,
award-winning audio processing software plug-ins for professional audio
engineers. TiMax specialises in innovative immersive audio and show control
technologies. OutBoard manufactures and sells industry standard rigging
control products for live events, together with enterprise-level safety test,
preparation and quality management for global rental companies and venues.

The Group has offices in four continents and a global customer base with a
distribution network covering approximately 240 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.

 

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