Slide 1: Results for the 12 months ended 31 August 2025
Results for the 12 months ended 31 August 2025 1
Slide 2: Agenda
Agenda Introduction & Highlights Tim Carroll Sally McKone Slide 3 Chief Executive Officer Chief Financial Officer Financial Review Slide 6 Operational Review Slide 13 Strategic Update Slide 26 Summary & Outlook Slide 32 Additional Information Slide 36 Results for the 12 months ended 31 August 2025 2
Slide 3: Introduction and Highlights
Introduction and Highlights Results for the 12 months ended 31 August 2025 3
Slide 4: A global music and audio products group
A global music and audio products group Content Creation Audio Reproduction 73% of revenue 27% of revenue FY24 70% FY24 30% ▪ Focusrite: audio recording ▪ ADAM Audio: studio ▪ Martin Audio: live and installed sound, equipment monitors, acquired July 2019 acquired December 2019 ▪ Focusrite Pro: audio
Slide 5: Review of the 12 months ended 31 August 2025
Review of the 12 months ended 31 August 2025 Group Summary Content Creation Audio Reproduction Strategic update ▪ Content Creation sales ▪ Audio Reproduction sales ▪ 37 new products and 92 Returning to Top line growth increase of 11.0% vs FY24 rebalancing following upgrades across the 12 in difficul
Slide 6: Financial Review
Financial Review Results for the 12 months ended 31 August 2025 6
Slide 7: Financial summary
Financial summary ▪ Revenue normalising across most regions delivering growth of 6.6% reported (8.8% organic constant currency) ▪ Gross margin at 44.4% is broadly in line with prior year, improving across the year with H2 being 45.0% and H1 43.9% ▪ Adjusted EBITDA1 £24.7m from £25.2m in FY24 with hi
Slide 8: Income statement
Income statement HY25 FY24 £m £m ▪ Revenue increase of 6.6% (Organic Revenue 168.9 158.5 Constant Currency (OCC) of 8.8%) Cost of sales (93.8) (88.0) ▪ Gross margin 44.4% (FY24: 44.5%) ‒ Pricing offsetting tariff impacts Gross profit 75.1 70.5 ‒ Normalisation of Audio Reproduction Administrative exp
Slide 9: Pricing supporting Gross margin
Pricing supporting Gross margin ▪ Gross margin broadly flat on prior year FY24 to FY25 gross margin bridge with offsetting movements as margins 47.0% normalise in each division 1.3% 45.8% 1.9% 46.0% 45.0% 44.5% 44.4% ▪ FY24 included a provision for Vocaster, 44.0% a one-off negative impact of 1.3% 4
Slide 10: Tariff risks effectively mitigated, with further changes expected
Tariff risks effectively mitigated, with further changes expected Mitigating actions taken and planned Aug Impact ▪ US is 33% of Group sales on raw 2025 ~70% ~25% 20% 10% ▪ Price increases across Content Creation from 1 material tariff rate imports May – average 15% with further planned ▪ Majority o
Slide 11: Balance sheet
Balance sheet FY25 FY24 £m £m Intangible assets 82.7 82.9 ▪ Intangible fixed assets ‒ Broadly flat with amortisation offsetting Tangible assets 10.5 11.1 capitalisation at a high level Total non current assets 93.2 94.0 ▪ Working capital impacted by sales Inventories 41.9 49.3 phasing in Q4 ‒ Debtor
Slide 12: Cash flow
Cash flow FY25 FY24 £m £m Adjusted EBITDA 24.7 25.2 Non-cash items (0.3) (0.5) ▪ Free cash inflow of £5.8m Movement in working capital 1.1 (8.9) ‒ Improvement in working capital with Operating cash flow 25.5 15.8 structural inventory reduction offset by Interest paid (2.4) (2.4) sales phasing impact
Slide 13: Operational Review
Operational Review Results for the 12 months ended 31 August 2025 13
Slide 14: Content Creation
CONTENT CREATION Results for the 12 months ended 31 August 2025 14
Slide 15: Content Creation Growth by brand
Content Creation Growth by brand FY25 FY24 Reported OCC1 £m £m growth growth Focusrite Focusrite (inc. Pro) 67.8 60.3 12.5% 15.6% Consistent double digit growth across the period, with Novation (inc. Ampify) 17.3 16.2 6.6% 9.4% Scarlett range now fully refreshed and channel stock largely normalised
Slide 16: Inventory normalising in the channel
Content Creation Inventory normalising in the channel 90 80 Focusrite Novation ADAM Audio Sequential Sonnox Source: Content Creation Sales £m management 70 estimates 60 using 50 customer 40 provided inventory data 30 20 10 8 0 7 Months of stock in channel 6 5 4 3 2 1 0 H1 FY22 H2 FY22 H1 FY23 H2 FY2
Slide 17: Regional revenue performance: Growth across all regions
Content Creation Regional revenue performance: Growth across all regions FY25 FY24 Reported OCC1 Americas £m £m growth growth Whilst industry sources pointed to another year of Americas 53.6 52.3 2.6% 6.2% decline across many segments, our brands grew and maintained market share in a difficult marke
Slide 18: Direct to customer channel
Content Creation Direct to customer channel 52% growth eCommerce revenue: 8% of 37% Brands growth Content Creation sales ▪ Strong double digit growth across all brands ▪ ADAM and Sonnox successfully transitioned to Group’s unified ecommerce solution ▪ Focusrite and Novation focussed on customer acqu
Slide 19: Market normalising following 3 years of decline
Content Creation Market normalising following 3 years of decline ▪ US market data is the only widely available source for our industry (US Music Trades census) ‒ US Sales down 0.6% in FY25 for Recording products (-6.8% FY24) ‒ US sales down 1.9% in FY25 for Electronic Musical Instruments (-5.9% FY24
Slide 20: Underlying demand remains strong
Content Creation Underlying demand remains strong End user registrations holding steady on prior year ▪ Despite ongoing weakness in the market, end user demand for our Scarlett range has All product registrations by month remained strong ▪ End user registrations for FY25 are broadly in line with FY2
Slide 21: Maintaining a market leading position
Content Creation Maintaining a market leading position We have outperformed our category across multiple distributors ▪ Our products are consistently shown in the top 5 most Thomann Sweetwater Amazon popular products in our (large EU online retailer) (large US online retailer) Best seller/recommende
Slide 22: Audio Reproduction
AUDIO REPRODUCTION Results for the 12 months ended 31 August 2025 22
Slide 23: Audio Reproduction
Audio Reproduction Martin Audio, Linea Research, Optimal Audio, TiMax, Live events 14 new product Install System OutBoard and panLab Continued expansion with introductions Solutions FY25 £m more festivals turning to Most notably Martin Audio’s Martin Audio systems than new Blackline Q – building on
Slide 24: Audio Reproduction Regional revenue performance
Audio Reproduction Regional revenue performance FY25 FY25 FY25 FY24 Reported OCC1 Audio Reproduction £m £m growth % growth % Growth in US despite challenging market Americas 13.5 13.3 1.1% 4.6% ▪ US growth supported by increased stock availability EMEA 18.6 19.4 -4.0% -5.2% ▪ EMEA performing ahead o
Slide 25: Expanded product range opening opportunities in a difficult market
Audio Reproduction Expanded product range opening opportunities in a difficult market Challenging market conditions Extended portfolio supporting strong orders ▪ Key industry OEM suppliers reporting 8%-10% global ▪ Market success with cross brand solution selling – decline following normalisation fr
Slide 26: Strategic Update
Strategic Update Results for the 12 months ended 31 August 2025 26
Slide 27: Our growth strategy has remained consistent
Our growth strategy has remained consistent Create a Great Place to Work Focus on providing development at all levels across the organisation with improved channels for feedback Regular engagement survey feedback and action plans Grow the Core Customer Base Investing in R&D to continue to deliver in
Slide 28: Investing in Innovation to drive sales
Strategy Investing in Innovation to drive sales R&D innovation centres in each of our brands New products and real time upgrades Internally capitalised R&D £m FY 2024 5 4 35 57 53 new software content products updates releases 3 2 FY 2025 1 37 92 42 new software content 0 products updates releases H
Slide 29: New products shipped within period
New products shipped within period Content Creation Audio Reproduction Results for the 12 months ended 31 August 2025 29
Slide 30: The impact of AI
The impact of AI AI is both a risk and opportunity to the market and in our own processes ▪ AI can generate music – Spotify removed Did drum machines kill off drummers? We asked AI… over 75 million “spammy tracks” ▪ The process and experience of creating music is important to users ▪ AI enables peop
Slide 31: Future growth expectations
Future growth expectations ▪ Both our divisions operate in growing Overall growth Market markets – growth in line with GDP + assumptions Growth ▪ Audio Reproduction currently normalising and expected slight decline for next 12 ▪ Mid to high single months digit organic growth for the Group over the m
Slide 32: Summary & Outlook
Summary & Outlook Review Results for the 12 months ended 31 August 2025 32
Slide 33: Current trading and outlook
Current trading and outlook Current Trading Content Creation: Market and channel inventory have stabilised in EMEA and APAC. Uncertainty remains in the US with tariffs and inflationary impacts, but global market share and end user registrations continue to be strong Audio Reproduction: Market normal
Slide 34: Summary
Summary Leveraging the Group portfolio in a normalising market Sales growth supported by brands working together to deliver innovation and integrated marketing Routes to market driving growth D2C for Content Creation continues on strong growth curve, investment in Japan is driving sales in APAC. Aud
Slide 35: Thank you Q&A
Thank you Q&A focusriteplc.com
Slide 36: Additional Information
Additional Information Results for the 12 months ended 31 August 2025 36
Slide 37: Year end change
Year end change Feb 25 Aug 25 Feb 26 Accounting reference date moving from August to February 6 months ▪ Better align to industry cycles, Publication of unaudited interim results for the six months especially around the key ended 28 February 2025 - by 31 May 2025 holiday season sales ▪ Next audited
Slide 38: Income statement: 12 months ended February
Income statement: 12 months ended February 6m to 6m to 6m to 6m to 6m to 12m to 12 to Aug 23 Feb 24 Aug 24 Feb 25 Aug 25 Feb 24 Feb 25 £m £m £m £m £m £m £m Revenue 92.2 76.9 81.6 80.9 88.0 169.1 162.5 Cost of sales (48.0) (41.7) (46.3) (45.4) (48.4) (89.7) (91.7) Gross profit 44.2 35.2 35.3 35.5 39.
Slide 39: Our market
Our market Results for the 12 months ended 31 August 2025 39
Slide 40: Foreign exchange
Foreign exchange FY25 FY24 Natural hedge for USD Exchange Rates £m £m ▪ US and ROW revenue. Average ▪ Total c50% of revenue but US$:£ 1.30 1.26 almost all cost of sales so minor impact overall €:£ 1.19 1.18 Year end rate Euro hedged US$:£ 1.35 1.31 ▪ c75% of major Euro flows hedged for year €:£ 1.15
Slide 41: Disclaimer
Disclaimer The contents of this document (the “Presentation”) and any securities of Focusrite plc (the “Company”) In particular, certain statements in this Presentation may constitute forward-looking statements and referred to in this Presentation have not been approved by an authorised person withi
Slide 42: Enriching lives through music
Enriching lives through music focusriteplc.com