Pinewood Technologies Group PLC reported strong financial and operational progress for the 12 months ended December 31, 2025, with revenue up 29.8% to £40.5 million, driven by contributions from Seez AI, new customers, and cross-selling. Recurring revenue increased to £33.7 million, representing 83.2% of total revenue. Gross profit rose 23.0% to £34.7 million, with a gross profit margin of 85.7%. Underlying EBITDA grew 17.1% to £16.4 million, and underlying profit before tax increased 3.5% to £8.8 million. Cash at the end of the period surged to £34.1 million, up from £9.3 million in 2024, reflecting a March 2025 equity raise and strong operating cash flows. Operationally, the company achieved low net customer churn of 2.5%, advanced its North American rollout with system testing underway at Lithias US dealers, and made significant progress in integrating Seez AI products. Post-period updates included the acquisition of a Dutch reseller for £3.3 million and the commencement of the Pinewood.AI system rollout at Marshall Motor Group dealerships in the second half of 2026. The company reaffirmed its confidence in achieving FY26 expectations and its medium-term target of £58-62 million in underlying EBITDA by FY28.
| Metric | FY25 (£m) | FY24 (£m) | % Change |
|---|---|---|---|
| Revenue | 40.5 | 31.2 | 29.8% |
| Gross Profit | 34.7 | 28.2 | 23.0% |
| Underlying EBITDA | 16.4 | 14.0 | 17.1% |
| Underlying Profit Before Tax | 8.8 | 8.5 | 3.5% |
| Underlying Operating Profit | 8.3 | 8.4 | (1.2%) |
| Cash at 31 December | 34.1 | 9.3 | 266.7% |
| Total Debt (Lease Liabilities) | 1.3 | 1.4 | (7.1%) |