SysGroup plc has reported a drop in annual sales and EBITDA.
For the year ended 31st March 2025, the tech transformation specialist reported revenues of 拢20.5m (FY24: 拢22.7m) and adjusted EBITDA of 拢900,000 (FY24 拢2m), which it said was in line with market expectations.
Last year it raised 拢10.6m in a share placing to transition into an AI-led organisation after moving its headquarters from Liverpool to Manchester.
SysGroup said that following the fundraise it had spent 拢1.8m on the final earn-out payment for the 2022 acquisition of Truststream Security; 拢700,000 in capital expenditure, including investment in its bespoke AI service desk platform; and 拢300,000 for the acquisition of the trade and assets of Crossword Consulting Limited.
The group ended the financial year with a strong gross cash balance of 拢8.7m and a net cash position of 拢3.6m.
鈥淥ver the past year, we have made substantial investments to position the group as a leading provider of end-to-end solutions for SMEs on their AI and machine learning journey,鈥� said Heejae Chae, executive chair.
鈥淥ur rapid progress in hyper-scale cloud saw us achieve AWS Advanced Partner status within six months – a significant milestone that reflects our technical strength and execution capabilities. We are making strong progress towards becoming the 13th AWS Managed Service Provider in the UK.聽
鈥淭his milestone will enable us to deliver the scalable, future-proof cloud foundations SMEs need to launch and accelerate their AI journey. We have also strengthened our cybersecurity offering, becoming one of only three UK-based Advanced Partners for Rubrik, a leader in data security and cloud data management.聽
鈥淥ur acquisition of Crossword Security Consulting further expands our capabilities into Cybersecurity-as-a-Service, penetration testing, and virtual CISO services, allowing cross-selling opportunities.
鈥淚nternally, we are transforming into an AI-led organisation, showcasing the innovation we deliver to our clients. Backed by a strong balance sheet, we remain well-positioned to drive growth both organically and through strategic acquisitions.
鈥淥ur investments in people and capabilities have positioned us for continued progress in the new financial year. We are building a robust pipeline and deepening our customer relationships to become the partner of choice across their entire technology estate, supporting their growth journey.鈥�