**Summary**
Pebble Beach Systems Group PLC, a global software company specializing in automation solutions for broadcast and streaming markets, released a trading update for its financial year ended December 31, 2025. The company reported strong performance, exceeding market expectations with
**Revenue** of approximately £12.2 million, a 6% year-on-year increase.
**Adjusted EBITDA** of around £4.2 million, up 27% year-on-year.
**Annual recurring revenue** grew by 8% to £6.6 million, accounting for 64% of total revenues (excluding third-party hardware).
**Project revenue** increased by 5% to £5.6 million, driven by higher demand from streaming companies.
Pebble also achieved significant improvements in cash flow and debt reduction, with
**Adjusted EBITDAC** rising by 206% to £3.2 million.
**Net debt position** improving by 48% to £2.0 million, including a £1.0 million bank debt repayment.
The company expects to reach a net cash position by the end of 2026. The Board remains confident about future growth, focusing on recurring revenue, margins, and cash generation, while capitalizing on opportunities in both broadcast and streaming markets. Full-year results will be announced in late April 2026.