REG - Tribal Group PLC - Trading Update and Notice of Results

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RNS Number : 8111Q  Tribal Group PLC  29 January 2026

This announcement contains inside information as stipulated under the UK
version of the Market Abuse Regulation No 596/2014 which is part of English
Law by virtue of the European (Withdrawal) Act 2018, as amended. On
publication of this announcement via a Regulatory Information Service, this
information is considered to be in the public domain.

 

29 January 2026

 

 Tribal Group plc

("Tribal" or "the Group")

 

Trading Update and Notice of Results

Strong performance in FY25 and continuing SaaS momentum

 

Tribal (AIM: TRB), a leading provider of software and services to the
international education market, is pleased to provide an update on trading for
the year ended 31 December 2025 ("FY25").

 

Tribal expects to report a positive close to FY25, delivering revenue and
adjusted EBITDA slightly ahead of the recently upwardly revised market
expectations.(1)

 

Importantly, Tribal closed FY25 with a substantially improved net cash
position of £11.4m, significantly ahead of current market forecasts (FY24:
net debt of £3.2m), reflecting a considerable improvement in profitability,
reduced capex requirements within the business, an exceptional working capital
performance and a one-off advance customer payment of £3.2m. The return to a
net cash position in FY25 marks an important step for the Group, demonstrating
the growing levels of cash generation and improved operational leverage within
the business, providing the Board with confidence in strong future cash
generation.

 

The strong financial performance reflects healthy demand for Student
Information Solutions ("SIS"), with key go-lives including University of
Warwick, University of Wolverhampton and University of the Arts London, and
significant product upgrades. Etio, Tribal's education services business, also
delivered an improved contribution, benefitting from operational efficiencies
and the strategic changes implemented in FY24.

 

Closing Annual Recurring Revenue (ARR(2)) increased by 11% to £63.3m (FY24:
£57.0m at constant currency) driven by both new customer wins and upgrades,
and the implementation of the Higher Education Full-Service ("HEFS")
subscription licence. Contracted ARR(3) increased by 14% to £65m (FY24: £57m
at constant currency).

 

The deployment of HEFS is progressing well and already delivering results,
with a large proportion of Tribal's Higher Education customers now signed up
to the licence. The subscription-based model provides greater revenue
visibility, margin resilience and improved cash flow generation, as well as
facilitating deeper engagement with customers and supporting the next step of
migration to Tribal cloud.

Outlook

 

The Group remains committed to driving recurring revenue growth and cloud
adoption, in line with its overarching strategic objective to transform into a
SaaS business.

Continued financial pressure on the Higher Education sector from constrained
funding and cost inflation is accelerating demand for secure, cost-effective
and fully supported digital transformation, supporting greater efficiency in
their student interactions and processes. These factors and the strength of
the Group's offerings, customer relationships and deep sector expertise,
provide the foundations for long-term, sustainable growth.

 

Supported by a strengthened balance sheet, growing ARR and a strong base of
long-term customer relationships, the Board is confident in continued SaaS
momentum in FY26 and the delivery of a consistent financial performance, and
as such, expects to deliver an adjusted EBITDA and cash performance in FY26
ahead of current market expectations.

 

Notice of Results

 

The Group expects to announce its audited full year results on Thursday, 26
March 2026.

 

Mark Pickett, CEO of Tribal Group, commented: "FY25 has been a
transformational year for Tribal, delivering improved profitability, a return
to a net cash position, and significant progress against our SaaS strategy. We
are particularly encouraged by the significant proportion of Higher Education
customers now onboarded to our subscription model, which not only delivers a
stronger base of recurring revenue and drives broader adoption of Tribal's
portfolio, but provides a clear and proven pathway to cloud migration, deeper
customer engagement and long-term value creation. We have entered FY26 in an
increasingly healthy position and now anticipate a profit and cash performance
ahead of current market expectations."

 

(1) In so far as the Board is aware, as at 28 January 2026, consensus market
expectations for FY25 were Revenue of £90.75m, adjusted EBITDA of £16.5m,
and Net cash of £5.00m; and for FY26 were Revenue of £91.75m, adjusted
EBITDA of £15.9m and Net cash of £4.15m.

 

(2) ARR is annual recurring revenues at period end (a forward-looking metric),
which includes the exit rate annualised recurring revenue, plus contracted
recurring revenue within a 12-month timeframe and in some cases yet to be
delivered, including known losses within the next 12 months where customers
have a high probability of ending or have given notice. This is an additional
metric that has been included for increased transparency.

 

(3) Contracted ARR, as used in prior announcements, takes the annual recurring
revenue as at the end of the contract, as some contracts ramp up over time,
including known losses.

 

 

 Tribal Group plc                                                    Tel: +44 (0) 330 016 4000
 Mark Pickett, Chief Executive Officer

 Diane McIntyre, Chief Financial Officer & Company Secretary

 Investec Bank plc (NOMAD & Joint Broker)                          Tel: +44 (0) 20 7597 5970
 Virginia Bull, Nick Prowting, Arnav Kapoor

 Singer Capital Markets Limited (Joint Broker)                     Tel: +44 (0) 20 7496 3000
 Sara Hale, Alex Bond

 Alma Strategic Communications                                     Tel: +44 (0) 203 405 0205
 Caroline Forde, Hannah Campbell, Emma Thompson

 

The person responsible for arranging the release of this announcement on
behalf of Tribal is Diane McIntyre, Chief Financial Officer and Company
Secretary.

 

About Tribal Group plc

 

Tribal Group plc is a pioneering world-leader of education software and
services.  Its vision is to enable student success through expertise,
software and services on its journey to becoming a pure-play EdTech SaaS
business, with global reach. Its portfolio includes Student Information
Systems; a broad range of education services covering quality assurance, peer
review, benchmarking and improvement; and student surveys that provide the
leading global benchmarks for student experience. Working with Higher
Education, Further and Tertiary Education, schools, Government and State
bodies, training providers and employers, in over 55 countries; Tribal Group's
mission is to empower the world of education with products and services that
underpin student success.

 

 

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