**Summary**
TruFin PLC released a trading update on January 15, 2026, announcing strong financial performance for 2025, significantly exceeding previous guidance. Key highlights include
1. **Financial Performance**
Adjusted profit before tax (PBT) is expected to surpass £7.4 million, a 720% increase from £0.9 million in FY24.
Adjusted EBITDA is projected to exceed £11.8 million (FY24: £7.6 million).
Group revenue is estimated at approximately £63.0 million (FY24: £55.0 million).
2. **Playstack**
Drove exceptional growth, fueled by successful game releases like *Balatro*, *Abiotic Factor*, *Void/Breaker*, and *UNBEATABLE*.
Back-catalogue revenue is expected to account for 50% of Playstack’s revenue in 2026.
Recognized as Publisher of the Year by UKIE and named Publishing Star at the Develop: Star Awards.
3. **Oxygen**
Delivered 17% revenue growth to £9.0 million (FY24: £7.7 million) despite challenges from the Procurement Act.
Secured four new Early Payment (EP) clients and renewed seven contracts, ending 2025 with a record 65 EP clients.
Transacted spend and net signed spend increased by over 17%, supporting growth into 2026.
4. **Satago**
Reduced cost base, improving loss before tax to no more than £2.7 million (FY24: £4.8 million).
Focused on core credit control offerings, with steady platform usage growth and a strong pipeline for embedded finance solutions.
5. **Shareholder Returns**
Completed two share buybacks totaling £8.0 million in 2025, with year-end cash expected to be at least £12.0 million.
6. **CEO Commentary**
James van den Bergh highlighted TruFin’s disciplined capital allocation, profitable growth, and strategic investments to drive future shareholder value.
Emphasized Playstack’s sustained performance, Oxygen’s resilience, and Satago’s progress toward profitability.
TruFin remains well-positioned for continued growth in 2026, with a strong portfolio of upcoming game releases and robust performance across its subsidiaries.