REG - Shearwater Group PLC - FY25 Trading Update

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RNS Number : 2501Q  Shearwater Group PLC  09 July 2025

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (as amended), which forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

09 July 2025

 

 

Shearwater Group plc

("Shearwater", or the "Group")

 

FY25 Trading Update

FY25 financial performance ahead of market expectations, driven by contract
wins and renewals

Shearwater Group plc, the cybersecurity, advisory, and managed security
services group, announces an update on trading for the 15-month period ended
30 June 2025 ("FY25")*.

The Group has delivered a strong performance in the 9-month period since the
announcement of H1 results, bolstered by a number of major contract wins and
renewals within the Services segment of the business, as previously announced.
As a result, FY25 revenue and adjusted EBITDA are anticipated to be slightly
ahead of market expectations**, with expected Revenue of c.£41m, representing
an annualised YoY increase of c.45% (FY24: £22.6m), and expected Adjusted
EBITDA of c.£2.2m, an annualised YoY increase of c.100% (FY24: £0.9m).

The need for the Group's services continues to grow as organisations seek to
navigate an increasingly complex cyber threat environment, with the costs of
failure well-publicised over recent months. The improved outlook and growing
pipeline of opportunities provides confidence in the ongoing delivery of
growth in both revenue and EBITDA in FY26.

Phil Higgins, CEO of Shearwater Group, commented: "We are delighted to report
a strong period of trading with significant growth delivered in both revenue
and adjusted EBITDA.  Organisations across both public and private sectors
are facing an ever-increasing cyber-security threat and the costs of failure
have never been more apparent than over recent months.  Our Group Companies
are all highly respected in their fields and together provide a unique blend
of solutions to help organisations navigate this threat.  In this context, we
enter FY26 with a strong pipeline and an expectation of delivering further
growth in the year ahead."

*As announced on 30 January 2025, the Group revised its year end from 31 March
to 30 June to better align the Group's financial year with its customer
procurement cycle. As a result, the accounting period was extended to be 15
months ending 30 June 2025.

**The company considers that current FY25 market expectations referred to in
this announcement are revenues of £39.0 and adjusted EBITDA of £2.0m.

 

Enquiries:

 

 Shearwater Group plc                                              www.shearwatergroup.com

 David Williams, Chairman                                          c/o Alma

 Phil Higgins, CEO

 Jonathan Hall, CFO

 Cavendish Securities plc                                          +44 (0) 20 7397 8900

 Adrian Hadden / Ben Jeynes - Corporate Finance

 Jamie Anderson / Dale Bellis / Michael Johnson - Broking/ Sales

 Alma                                                              shearwater@almastrategic.com (mailto:shearwater@almastrategic.com)

 Justine James / Joe Pederzolli / Emma Thompson                    +44 (0) 20 3405 0205

 

About Shearwater Group plc

 

Shearwater Group plc is an award-winning group providing cyber security,
managed security and professional advisory solutions to create a safer online
environment for organisations and their end users.

 

The Group's differentiated full service offering spans identity and access
management and data security, cybersecurity solutions and managed security
services, and security governance, risk and compliance. Its growth strategy is
focused on building a scalable group that caters to the entire spectrum of
cyber security and managed security needs, through a focused buy and build
approach.

 

The Group is headquartered in the UK, serving customers globally across a
broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the
ticker "SWG".  For more information, please visit www.shearwatergroup.com
(http://www.shearwatergroup.com) .

 

 

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