REG - Pulsar Group PLC - Trading Update

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RNS Number : 7411T  Pulsar Group PLC  20 February 2026

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 

Pulsar Group Plc

("Pulsar", the "Group" or the "Company")

 

Trading Update

 

Pulsar Group Plc (AIM: PULS), the technology innovator delivering
Software-as-a-Service (SaaS) solutions for the global marketing and
communications industries, is pleased to announce an update on trading for the
year ended 30 November 2025 ("FY25").

 

Financial Performance

The Group delivered a strong performance in FY25, characterised by
accelerating organic growth for the Group and the successful delivery of
£7.0m of annualised cost savings through its structural cost-rationalisation
programme in 2025.

 

ARR Growth

Total Group ARR at year end increased to £64.5m, delivering a £3.9m(1)
increase in ARR year on year. This represents nearly double the growth
achieved in FY24:

 

●    EMEA & North America (EMNA): EMNA continues to be the primary
engine of growth, with ARR growing to £34.2m. This represents an increase of
£3.4m(1), doubling the £1.7m(1) increase seen in FY24. We secured a
significant multi-year partnership with a global marketing leader during the
year with service delivery beginning ahead of our December announcement,
ensuring that €2.1m in ARR was already contributing to our FY25 performance.
As global enterprises standardise on the Pulsar platform for strategic
intelligence, this region remains the Group's strongest performing region.

 

●    APAC Growth Acceleration: Building on the turnaround established in
FY24, the APAC region saw an acceleration in growth velocity, delivering
£0.5m(1) ARR growth in FY25 compared to £0.3m(1) in FY24. This performance
reflects both the efforts of the Isentia team and strong regional demand for
the Group's enhanced AI capabilities.

 

 ARR                   FY23     FY24     FY24     FY25     FY25

                                Change            Change

 EMNA                  £29.1m   +£1.7m   £30.8m   +£3.4m   £34.2m

 (Constant Currency)
 EMNA                  £29.7m   +£1.4m   £31.1m   +£3.1m   £34.2m

 (Reported)

 APAC                  £29.5m   +£0.3m   £29.8m   +£0.5m   £30.3m

 (Constant Currency)
 APAC                  £31.6m   -£1.0m   £30.6m   -£0.3m   £30.3m

 (Reported)

 Group                 £58.6m   +£2.0m   £60.6m   +£3.9m   £64.5m

 (Constant Currency)
 Group                 £61.3m   +£0.4m   £61.7m   +£2.8m   £64.5m

 (Reported)

 

 

Financial Performance Improvement

The Board expects total revenue for the financial year to be approximately
£61.0m, demonstrating modest growth on a constant currency basis (2024:
£62.0m reported, £60.1m(1)) with 97% of revenue being recurring (2024: 98%).

 

The Group delivered more than £7.0m in annualised cost savings during 2025,
primarily through automation and the decommissioning of duplicate legacy
technology across the Group. Overall Group headcount has reduced by 22% from
918 FTE in November 2024 to 718 FTE as at February 2026. The continued focus
on operating model optimisation has helped Pulsar to deliver year on year
Adjusted EBITDA growth of 13%(1), and an improvement in Adjusted EBITDA margin
from 15.0%(1) in 2024 to 16.5% in 2025. It is expected that Adjusted EBITDA
will be approximately £10.2m (2024: £9.3m reported, £8.9m(1)), in line with
the Board's expectations.

 

Net debt stood at approximately £5.6m as of 30 November 2025, driven by
one-off restructuring costs related to our accelerated cost-base optimisation.
This position has since improved significantly throughout Q1 2026.

 

Outlook

Following the successful delivery of its 2025 restructuring programme, the
Group reached a significant inflection point in its cash generation profile as
it started the new financial year.

 

In the first 12 weeks of FY26, the Group has delivered significant free cash
flow, resulting in monthly decreases in net debt since the year-end. This cash
performance has facilitated a substantial reduction in total net debt, from
£5.6m at 30 November 2025 to £2.7m as at 19 February 2026. The Board expects
sustainable ongoing cash generation going forwards.

 

The Group continued to release exciting new functionality into the market
during FY25 and early FY26, with its transition to an Agentic AI platform
(autonomous AI agents performing intelligence tasks) driving high-value
enterprise adoption, with new features including:

 

●     Insight Agents: The launch of "TeamMates", a new class of
specialised AI agents trained to execute high-frequency, high-value
intelligence tasks across the platform. The most frequent use cases in social
listening & media monitoring, audience intelligence and narrative
detection, initially serve four main insights functions:

○     Sentinels, focused on alerting and early signal detection

○     Oracles, designed for prediction, escalation, and scenario
awareness

○     Custodians, supporting regulatory and compliance use cases

○     Analysts, optimised for research, narrative interpretation, and
insight generation

This agentic architecture enables the Group to leverage core AI R&D across
multiple markets and workflows, accelerating product development while
maintaining a disciplined cost base.

The commercial impact of this strategy is already visible through the launch
of new vertical solutions. Pulsar CLEAR, the Group's Agentic AI compliance
system, extends Pulsar's capabilities into advertising and regulatory
compliance, while Crisis Oracle introduces predictive brand risk intelligence,
enabling clients to identify and mitigate reputational threats before
escalation. These products materially expand the Group's addressable market,
unlocking new revenue streams across both potential new segments and our
existing customer base through enhanced upsell and cross-sell opportunities.

●    Enterprise Infrastructure: The introduction of Pulsar Workspaces,
enabling seamless management of data and governance for our largest global
clients.

 

●     Lumina: Alongside these innovations, the Group has deployed
Lumina, its intelligence suite purpose-built for PR and communications
professionals, and continues to enhance Narratives AI, the world's first
search engine for public opinion.

 

●    Other recent enhancements including expanded platform coverage,
geographic narrative intelligence, and LLM-inferred strategic insights further
strengthen Pulsar's differentiation in narrative and reputational
intelligence.

 

Pulsar Group enters FY26 with a right-sized cost base, accelerating growth
momentum in both APAC and EMNA, and a clear technological lead in Agentic AI
for communications, marketing and compliance intelligence. The rapid reduction
in net debt seen in the first quarter, together with additional cost savings
already identified as the Group continues to focus on enhancing its
operational leverage provides a robust platform for the Group to deliver
sustainable, profitable and cash generative growth in the year ahead.

 

Joanna Arnold, CEO of the Company, said:

"FY25 was a defining year for Pulsar, characterised by a significant
acceleration in organic growth and the successful delivery of our structural
cost-rationalisation programme. I am particularly encouraged by the near
doubling of our growth velocity at a Group level on a constant currency basis,
with our EMNA region continuing to serve as a powerful engine for expansion.

 

With a leaner, more efficient operating model the Group is very focused on our
technological leadership in Agentic AI. The launch of our 'TeamMates'
framework and specialised tools like LUMINA and CLEAR represent the next
generation of intelligence, shifting our platform from passive monitoring to
proactive, expert-led foresight for our clients.

 

As we enter FY26, the Group has reached a clear inflection point in cash
generation. The rapid de-leveraging achieved in the first quarter, combined
with a right-sized cost base and market-leading AI innovation, gives us strong
confidence for the year ahead."

 

 

1.     On a constant currency basis.

 

 

For further information:

Pulsar Group plc
 
                      020 3426 4070

Joanna Arnold (CEO) / Mark Fautley (CFO)

 

Cavendish Capital Markets (Nominated Adviser and Broker)
                                020 7220 0500

Corporate Finance:

Marc Milmo / Fergus Sullivan / Elysia Bough
 

Corporate Broking:

Sunila de Silva

 

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