Fintel (FNTL) has issued a year-end trading update for the year to 31 December 2025, with full-year results in line with board expectations and adjusted EBITDA slightly ahead of market expectations. The group will publish its full-year results on 17 March 2026 and host a capital markets event on 23 April 2026.
Revenue rose about 10% to £85.9 million from £78.3 million, with Software as a Service (SaaS) and subscription revenue also up about 10% to £48.7 million. SaaS and subscription represented 57% of total revenue, highlighting the continued shift towards recurring income.
Adjusted EBITDA increased about 17% to £25.9 million from £22.2 million, following investment to expand products, services and capabilities. Fintel ended the year with £17.3 million of cash and £72.5 million of headroom within its £120 million revolving credit facility, while net debt stood at £31.1 million, with leverage of 1.2x.
Fintel said it enters 2026 in a strong position, supported by its simplified operating structure, sizeable customer base and recurring-revenue model, which it believes provides a solid foundation for organic growth. The group also highlighted that the acquisition of Pearson Ham’s Market Pricing Business, completed in January 2026, further strengthens the Software and Data division and is expected to be earnings accretive in FY26.
Fintel said both its divisions (Software & Data and Services) are positioned to benefit from rising demand for technology, data and regulatory support across the more dynamic parts of the UK retail financial services market.
Strategically, Fintel pointed to the implementation of its two-division structure - Software and Data and Services - as a platform to accelerate the transition to a software, data and recurring revenue model.
Fintel’s CEO Matt Timmins said: "2025 has been a transformational year for Fintel, underpinned by our new simplified operating structure. This has reshaped the business with focus and ambition, whilst strengthening our position as a technology-driven platform for the UK retail financial services market. With market-leading technology and data solutions targeting a significant customer base, and a resilient, cash-generative model with a strong balance sheet to fund investment, we enter 2026 strongly positioned to seize the significant growth opportunities ahead."
View from Vox
Fintel’s numbers point to a business that is growing while improving profitability, with adjusted EBITDA rising faster than revenue and recurring SaaS and subscription income now making up more than half of the total. Fintel is setting up 2026 as a delivery year, with a simplified two-division model, a higher proportion of recurring revenue, and a balance sheet that still has meaningful funding headroom. The January deal for Pearson Ham’s pricing data business adds another layer to the Software and Data growth story, and it should help if earnings accretion comes through as guided.