Microlise Group Plc · LSE:SAAS
Microlise — H1 FY2026 Earnings Presentation
29 slides from Microlise's earnings presentation, 2026
Slide 1: H1 FY2026 Results Presentation
H1 FY2026 Results Presentation Strengthening the foundations, for sustained, profitable growth Nadeem Raza Chief Executive Officer Nick Wightman Chief Financial Officer
Slide 2: The Presentation Team
The Presentation Team NADEEM RAZA NICK WIGHTMAN Chief Executive Officer Chief Financial Officer Joined Microlise in 1987. Led a management buyout of Nick joined Microlise in 2012 and played a key role in the the Group in 2008, when he became CEO. He is a Deputy Group’s refinancing and re-organisatio
Slide 3: Agenda
Agenda • Introduction • H1 FY2026 • Financial Review • Market & Strategy • Outlook 3
Slide 4: Microlise
Microlise c.60% share of the UK’s large fleet operators A leading provider of transport 2,500+ customers represent a c.£300m ARR management solutions. opportunity Unifying fleet operations, transport management and telematics into one intelligent platform, Microlise One, for the future of transport
Slide 5: Microlise One converts fleet complexity into measurable ROI
Microlise One converts fleet 1 926k+ 197+ complexity into measurable ROI Platform Subscriptions countries One platform connecting vehicles, drivers, compliance and delivery operations Industry Microlise One Customer Value Challenges Integrated Fleet Operating Layer Delivered Cost 6% Fuel 75% Better
Slide 6: Land & Expand Strategy in Action
Land & Expand Strategy in Action Three customer wins and expansions demonstrate the breadth, scalability and value of the Group’s solutions LF&E Logistics Samworth Brothers Alliance Automotive Multi-product expansion in H1 Renewal and multi-product Group FY26 expansion in H1 FY26 TMS Expansion in UK
Slide 7: Investment programmes
Investment programmes Strengthening our platform for scalable, sustainable growth FY25 | Restructuring FY26 | Targeted Investment Benefits and timing • Delivered £5m of annualised cost • Product investment: Microlise One, savings enabling investment in TMS and mid-market • TMS sales cycle already re
Slide 8: H1 FY26: Executing our Direct Customer strategy, to support growth acceleration
H1 FY26: Executing our Direct Customer strategy, to support growth acceleration Integrating offerings Expanding into mid- Updating core TMS Expanding GTM within one platform, market to address a software to speed up capability & team, to facilitating cross sale sizeable additional sales cycle and ac
Slide 9: Financial Review
Financial Review
Slide 10: H1 FY2026 Highlights
H1 FY2026 Highlights On track to meet FY2026 profit expectations +12% +4% +1% -10% ü Direct customer ARR Recurring ARR Revenue Recurring Revenue Revenue growth 12% Direct Customer ARR £47.1m £60.8m £58.8m £29.9m £39.5m ü Significant EBITDA margin recovery to 13.2% from 5.2% in H2 FY25 ü Strong direc
Slide 11: ARR Bridge
OEM Recurring ARR Bridge Direct Recurring Ongoing evolution towards a greater proportion of higher quality recurring revenue 58.7 4.1 1.6 60.8 60 Direct Customer ARR increased by 55 13.6 50 16.8 (0.6) 12% to £47.1m (H1 FY25: £42.0m), (3.1) 45 driven by renewals, expansion 40 activity and new custome
Slide 12: Revenue Split
Revenue Split £m Continued growth in recurring revenue Improving revenue mix 50.0 supporting increased 45.0 visibility and gross margin 4.4 40.0 3.9 4.1 3.3 2.8 Total revenue decreased by 10% to 35.0 4.3 10.1 9.9 7.4 6.7 £39.5m (H1 FY25: £44.1m). 2.6 30.0 2.6 8.5 3.4 2.1 10.4 Non-recurring revenue d
Slide 13: Profit & Loss
Profit & Loss Revenue decreased 10.4% to £39.5m (H1 FY25: £44.1m) Non-recurring revenue down 34.3% to £9.5m following completion of a major customer rollout in the prior period; recurring revenue grew 1.3% H1 26 H1 25 to £29.9m, 76% of Group revenue Change % £'000 £'000 Revenue Non-Recurring 9,543 1
Slide 14: Net Cash Bridge
Working capital outflow reflects phasing of billing and customer project activity Net Cash Bridge Adjusted cash flows generated from operations £3.1m (H1 FY25: £4.0m), representing an adjusted cash conversion Strong financial footing provides the foundation for our rate of 60% (H1 FY25: 64%) investm
Slide 15: Journey to >20% Adj. EBITDA margin
Journey to >20% Adj. EBITDA margin Driving profitable growth through revenue quality, scale and operational efficiency >20% Operational leverage Revenue mix Reinvestment & efficiency 13.2% Direct Customer ARR Reinvest in sales and Through scale we growth plus a higher marketing to build the expect t
Slide 16: Market & Strategy
Market & Strategy 16
Slide 17: Core geographies represent significant addressable market
Core geographies represent significant addressable market Market drivers support technology adoption ≈616k HGVs Australia & New UKI ≈520k UKI HGVs - £1.2B TAM Zealand ≈950k HGVs -£1.8B TAM Chain of Responsibility extends Mature compliance regime with accountability increasing audit requirements Heav
Slide 18: GTM Investment Driving Higher Quality Growth
GTM Investment Driving Higher Quality Growth A scalable GTM engine focused on pipeline growth, disciplined execution and higher-quality recurring revenue. 1 MORE DEMAND 2 BETTER EXECUTION 3 HIGHER QUALITY Scale pipeline creation Build a scalable GTM engine Grow recurring customer value +18% Expanded
Slide 19: Microlise One Analytics
Microlise One Analytics Turning operational data into customer insight and a future revenue stream – The glue that drives cross sell CURRENT DATA PACKS PRODUCT ROADMAP DP1 Driver Excellence More insight packs extend the platform Driver A–G scores over a rolling 13-month view, with advanced dashboard
Slide 20: Outlook & Investment case
Outlook & Investment case lo}
Slide 21: A confident outlook
Direct Customer ARR (£m) A confident outlook 50 47.1 45 42.0 FY26: Revenues broadly in line and adjusted 40 EBITDA in line with current market expectations 35.6 35 • Supported by good visibility over contracted recurring revenue, planned customer go-lives 30 27.1 and a healthy pipeline 25.6 25 • Und
Slide 22: Positioned to deliver profitable, long-term shareholder value
Positioned to deliver profitable, long-term shareholder value Sticky, blue-chip customer base Considerable c.£300m 'captive' Select investment to capitalise on and deep industry expertise TAM opportunity opportunity Customers include c.60% of UK fleet Existing base offers a 5x ARR opportunity Reduce
Slide 23: Appendix
Appendix
Slide 24: Microlise in Numbers
Microlise in Numbers 1982 926K+ Established in UK Active Subscriptions 730+ <2% Staff Very low customer churn rate 2,500+ £84M FY 2025 Revenue (£59.2m ARR) Customers 197+ 4 Countries with Awards for Enterprise since deployments 2018 24
Slide 25: Cash Flow
Cash Flow Six months ended 30 June 2026 H1 26 £’000 H1 25 £'000 Change % Adjusted cash flow from operations of £3.1m was 22.5% Adjusted EBITDA 5,213 6,206 (16.0)% lower, tracking the £1.0m fall in adjusted EBITDA to £5.2m Working capital and other items (2,107) (2,200) (4.2)% Adjusted Cash flow gene
Slide 26: Balance Sheet
H1 26 H1 25 Change Change Balance Sheet £'000 £'000 £'000 % Assets Non-current Assets Property, plant and equipment 12,098 9,196 2,902 31.6% Intangible Assets 81,579 82,797 (1,218) (1.5)% Investments in associate - 1,364 (1,364) (100.0)% Loan to Associate - - - - Cash rose £2.6m (23.4%) to £13.8m, l
Slide 27: EBITDA to PAT Reconciliation
EBITDA to PAT Reconciliation H1 26 H1 25 £'m £'m Adjusted EBITDA 5.2 6.2 Depreciation (2.0) (1.6) Amortisation on Development Costs (1.3) (1.1) Net Interest - 0.1 Adjusted PBT 1.9 3.6 Adjusted Tax Charge (0.5) (0.6) Adjusted PAT 1.4 3.0 *Items excluded from adjusted PAT (0.4) (1.7) Reported PAT 1.0
Slide 28: Disclaimer
Disclaimer For the purposes of this document, the presentation that follows (the “Presentation”) shall mean and include the slides that and changes in the political, social and/or economic framework in which the Company operates and the form of global follow, any oral briefing provided by Microlise
Slide 29: www.microlise.com
www.microlise.com Microlise Limited Microlise Group plc Farrington Way Farrington Way Eastwood Eastwood Nottinghamshire Nottinghamshire NG16 3AG NG16 3AG Registered in England & Registered in England & Wales with Company Wales with Company No. No. 03037936 11553192