Slide 1: Full Year Results 2024
PREMIUM PAYMENT SOLUTIONS Full Year Results 2024
Slide 2: Introduction
Introduction
Slide 3: Presenters
Presenters James Hickman Judy Happe CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Over 25 years in the Financial Services industry with Judy has extensive experience of raising growth the last 20 years' experience within the FX and capital and executing M&A strategies at digital payments industrie
Slide 4: About Finseta
About Finseta Proprietary technology platform Currency risk management, payment and electronic 165+ COUNTRIES account services WHAT WE DO? CUSTOMERS CAN Solving currency and Innovating through SEND FUNDS TO payment challenges for partnerships and expanding its payment businesses and capabilities ind
Slide 5: 2024 Highlights
2024 Highlights • Record revenue – 26% y-o-y growth Excellent financial performance • Substantial growth in profit and underlying cash from operations Investment in sales team is • Increase in number of active clients and average transaction value driving growth • Expansion of introducer network • N
Slide 6: Market Opportunity
Market Opportunity
Slide 7: The Global Payments Opportunity: Payments Ecosystem
The Global Payments Opportunity Payments Ecosystem (Fig:1) Mckinley Global payments map (2022)
Slide 8: Retail, SME, and corporate payments are at different stages of the evolution cycle
Retail, SME, and corporate payments are at different stages of the evolution cycle. (Fig:2) (Fig:3) (Fig:4) Attackers FinTech's quickly Int’l banks strengthening (Fintechs,MTOs) (Fig:2,3,4) World Bank expanding to SME: Corporate payments: Captured >50% Share Performance data (2025) Focusing on verti
Slide 9: Our Strategy
> Our Strategy
Slide 10: Our Strategy
Our Strategy Expanding our Geographic and Market footprint Finseta Enhancing our Platform product capabilities Futureproofing the business 10 CONFIDENTIAL | COPYRIGHT 2025
Slide 11: Progress against Strategy
y » Co. WW Progress against Strate Dis > Progress againstst ro iN
Slide 12: Progress: Expanding our Geographic and Market footprint
Progress Expanding our Geographic and Market footprint: CANADA UAE REG ULATORY LI CENCE REG ULATORY LI CENCE (2024) (2024) Country Manager in place DFSA approval of CAT 3D and executing strategy license granted 2025 Operational set up Operational set-up complete including banking complete including
Slide 13: Progress: Enhancing our product capabilities
Progress Enhancing our product capabilities Card programme launch 2025 Card programme set up complete. GTM strategy in place and being executed IOS & Android APP launched Launched and generating revenues from existing customers; revenues expected to ramp-up in H2 2025 13 CONFIDENTIAL | COPYRIGHT 202
Slide 14: Progress: Platform enhancements
Progress Enhancing our product capabilities Platform Multiple platform enhancements Mass Payments Streamlined transaction monitoring Improved customer interface Addition of counterparties via API 14 CONFIDENTIAL | COPYRIGHT 2025
Slide 15: Progress: Future-proofing the business
Progress Future-proofing the business Brand Financial People Completed renaming from Increased profit -------------- Continued investment in key hires Cornerstone FS to Finseta -------- across product & revenue Supported brand recognition Increased revenue----------- Continued investment in people t
Slide 16: 2024 Financial Highlights
>> 2024 Financial Highlights. 216
Slide 17: 2024: Strong growth metrics whilst investing for next phase
2024: Strong growth metrics whilst investing for next phase Revenue Gross Margin ADJ. EBITDA £11.4m 65.7% £2.0m +18% +232bps +19% (2023: £9.6m) (2023: 63.4%) (2023: £1.7m) PBT Cash From Operations Net Cash Position at 31 £1.4m £2.2m December 2024 £0.6m +8% +12% +£0.5m (2023: £1.3m) (2023: £2.0m) (31
Slide 18: Continued top line delivery, now 100% direct
Continued top line delivery, now 100% direct YOY Growth Revenue (£m) £'000 2024 2023 24/23 7.0 Revenue 11,354 9,649 19% 6.3 6.3 6.0 6.0 5.8 5.1 5.0 5.0 4.0 3.6 3.0 2.9 3.2 +26% +73% 2.4 UNDERLYING GROWTH 2-YEAR UNDERLYING CAGR 1.9 2.0 1.4 1.0 - 1,059 +17% vs 2023 H1 22 H2 22 H1 23 H2 23 H1 24 H2 24
Slide 19: EBITDA margin maintained despite investing for growth
EBITDA margin maintained despite investing for growth Adjusted EBITDA (£m) YOY Growth 2.0 £'000 2024 2023 24/23 1.5 Revenue 11,354 9,649 18% 1.5 1.2 Gross Profit 7,459 6,115 22% 1.0 0.8 Gross Margin 66% 63% 2% Adjusted costs (5,444) (4,415) 23% 0.5 0.2 Adj. EBITDA 2,015 1,700 19% - Margin 18% 18% 0%
Slide 20: Focused investment
Focused investment Year over year adjusted costs (£m) 6.0 Staff cost growth reflects investments into direct sales team, 0.1 0.1 5.4 new jurisdictions and increased performance-related 0.2 0.1 0.6 bonuses 5.0 4.4 4.0 Sales and marketing increase to support rebrand 3.0 Rent costs reflect move to new
Slide 21: Strong cash flow conversion
Strong cash flow conversion YOY Growth 2024 Operating Cash flow (£m) £'000 2024 2023 24/23 3.0 Profit before tax 1,392 1,291 8% 0.1 2.5 1.0 2.2 Non-cash items 996 721 38% 2.0 -0.3 Finance & investing items 109 69 57% Working capital (305) (127) 140% 1.5 1.4 Operating cash flow 2,192 1,954 12% 1.0 Ad
Slide 22: Net cash flow reflects investments and balance sheet strengthening
Net cash flow reflects investments and balance sheet strengthening YOY Growth Closing Cash (£m) £'000 2024 2023 24/23 3.0 2.6 Non-current asset additions (1,492) (502) 197% 2.3 2.5 Subsidiary disposal proceeds 150 300 -50% Investing cash flow (1,342) (202) 564% 2.0 Deferred consideration & loan note
Slide 23: Summary
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Slide 24: Summary
Summary Significant growth in Rename completed Expansion of Agreement with Received regulatory all financial metrics to Finseta payments Mastercard and licence to operate in capabilities and card programme Canada & Dubai(post yr introducer network launch(post yr end) end) On track for significant gr
Slide 25: Thank you
Thank you ANY QUESTIONS 25 CONFIDENTIAL | COPYRIGHT 2025
Slide 26: Appendix
Appendix 26 CONFIDENTIAL | COPYRIGHT 2025
Slide 27: Operating profit to adjusted EBITDA bridge
Operating profit to adjusted EBITDA bridge 27 CONFIDENTIAL | COPYRIGHT 2025
Slide 28: Experienced Board
Experienced Board Gareth Edwards Simon Bullock John Burns NON-EXECUTIVE CHAIRMAN NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Gareth is a qualified solicitor and was previously a Over 30 years’ experience in CFO and other John Burns has over 40 years’ experience in the partner at law firm Pinsent M
Slide 29: Experienced Leadership
Experienced Leadership James Hickman Judy Happe Jordanna Curtis Bill Newton Rob O’Brien Declan Jones CHIEF E XECUTIVE OF FICER CHIEF F INANCIAL OFFICER CHIEF OPERATIONS OFF ICER CHIEF I NF ORMATION OFFICER CHIEF C OMMERCIAL OFFICE R HEAD OF PRODUCT Over 25 years in the Judy has extensive Jordanna is
Slide 30: ESG Progress
ESG Progress Effective Governance Learning and Employee Survey and Charity Sponsorship with Structure Development Scheme Culture Committee Involvement social focus Consumer Duty Committee: Available to all staff -------- Run annual Employee New initiative to choose Ladies European Tour Established a