**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 ยฃ12.2 million, a 6% year-on-year increase.
**Adjusted EBITDA** of around ยฃ4.2 million, up 27% year-on-year.
**Annual recurring revenue** grew by 8% to ยฃ6.6 million, accounting for 64% of total revenues (excluding third-party hardware).
**Project revenue** increased by 5% to ยฃ5.6 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 ยฃ3.2 million.
**Net debt position** improving by 48% to ยฃ2.0 million, including a ยฃ1.0 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.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
### Key Notes:
1. **ARR Calculation**: The FY2024 ARR was calculated based on the provided percentage (61% of total revenues excluding third-party hardware), but the table uses the stated value (ยฃ6.1m) for consistency with the text.
2. **Net Debt Reduction**: The net debt position improved by 46% (not 48% as stated in the text, due to rounding).
3. **Table Structure**: The table includes metrics, FY2024 values, FY2025 values, and the percentage change for easy comparison. This HTML code can be directly embedded into a webpage for display.