Slide 1: Pebble Beach Systems Group plc Final Results 2025
Pebble Beach Systems Group plc Final Results for the year ended 31 December 2025 28 April 2026 25 years of industry-leading experience
Slide 2: Presentation Team
Presentation Team Tom Crawford Peter Mayhead Paul Inzani Chairman CEO Head of Finance • Joined Group as Chairman in • Appointed CEO in January • Joined Group as Head of December 2025. 2018. Joined Group as CFO Finance in 2021. in 2013. • 25 years+ experience of • Wide-ranging financial and software
Slide 3: Business Overview
Business Overview Pebble designs, integrates and supports advanced workflow automation systems for the broadcast market Trusted by leading broadcasters and streamers globally • Highly trusted brand - 25 years of developing and supporting feature-rich, flexible playout solutions that are mission crit
Slide 4: Product Overview
Product Overview pebble Mission-critical broadcast automation software for live television and streaming Pebble software is the engine behind everything a viewer sees and hears KEY CHARACTERISTICS Schedules programmes – cues adverts – overlays graphics – manages live feeds Flexible deployment • All
Slide 5: 'Sticky', Blue-chip Customer Base
‘Sticky’, Blue-chip Customer Base Global customers MARKET IS B R O AD C AS T E R S S E R V I C E P R O V I D ER S S T R E AM E R S EMERGING Tier 1 national and international Managed playout and media services Streaming platforms moving into live broadcasters requiring complex, multi- providers servi
Slide 6: Tier 1 US-based Streaming Company
Case Study Tier 1 US-based Streaming Company • 2022 - initial automation order placed by US streaming company. Order secured via a sales partner • 2025 - further £1.3m order secured via Pebble partner, IMG, the global sports, entertainment and media group, to facilitate coverage of live sports • Sof
Slide 7: Competitive Landscape
Competitive Landscape • Playout automation market: $2.9bn in 2023 $6.1bn by 2028 I CAGR 15.8% (Source: MarketsandMarkets) • Market consolidating, reducing the number of specialists END-TO-END PROVIDERS B E S T - O F - B R E E D AU T O M AT I O N C L O U D - N AT I V E / F AS T * Grass Valley, Imagin
Slide 8: FY25 Key Highlights
FY25 Key Highlights Significantly improved performance • Significantly improved performance, driven by: Gross profit margin up – strategic decisions implemented in Q1 (refocused R&D and reduced cost base) to 77.5% – increased revenues, stronger margins (adjusted EBITDA margin of 34% (2024: 29%) (202
Slide 9: FY25 Operational Highlights
FY25 Operational Highlights Lower cost base and notable new wins • R&D priorities refocused: Gross Profit Margin up – scaled back Internet Protocol (“IP”) native development – market adoption of IP 77.5% (2024: infrastructure is still emerging; market preference for ‘on-premises’ or hybrid solutions
Slide 10: Financial Highlights
Financial Highlights All KPIs improved £m FY25 FY24 New orders 13.9 13.6 • Increase in recurring revenue and ARR values Total revenue 12.2 11.5 • Increased software and installation revenue Support1 6.6 6.1 following strong project order intake Software2 2.4 2.2 • EBITDA margin rise driven by increa
Slide 11: Summary Consolidated Income Statement
Summary Consolidated Income Statement Adj. EBITDA margin significantly higher • Total revenue includes recurring revenue of £6.6m £m FY25 FY24 (2024: £6.1m) Total revenue 12.23 11.45 • Significant improvement in adj. EBITDA margin driven by better revenue mix. Increase in high-margin support Cost of
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet £’000 Consolidated At 31 Dec At 31 Dec 2025 2024 Non-current assets Intangible assets 6,031 5,765 Substantially strengthened balance Property, plant and equipment Deferred tax asset 232 540 410 - sheet Other non-current assets 12 12 Total non-current assets 6,815 6,187 • G
Slide 13: Cash Generation
Cash Generation £m FY25 FY24 Strong cash generation Adj. EBITDA 4.16 3.28 • Reduced overheads and strong recurring Increase in working capital (0.15) (0.95) revenue drove improvements in EBITDA Cash generation from operations 4.01 2.33 • Spend on R&D capitalisation more than halved following the res
Slide 14: FY 2025 Revenue Analysis
FY 2025 Revenue Analysis Revenue by Type Recurring Revenue by Order Intake by (excluding third-party hardware) Customer Longevity Order Type 22% 24% 3.0 2.9 2.2 3.4 FY2025 FY2025 12% 8.5 7.5 65% 78% FY24 FY25 Support Contract Update to existing system Software 5+ years Under 5 years New project Prof
Slide 15: Growth Strategy
Growth Strategy Positioned for profitable, cash-generative growth High-quality Key focus: recurring revenue • Continue to grow high-margin recurring revenues - support and maintenance (SLA) – 64% of total revenue excluding third-party hardware and growing • Increase market share with Tier 1/ 2 broad
Slide 16: Summary and Outlook
Summary and Outlook Firm platform for growth - continued progress expected over FY26 Well established, cash-generative business model • Highly experienced management team • ‘Best of breed’ technology - established reputation in core Tier 1 broadcast marketplace • Recurring (10 years+), high-margin r
Slide 17: Supplementary Information
Supplementary Information - Financial Information - The Board - Major Shareholders - Glossary of Terms 17
Slide 18: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows FY25 FY24 £’000 Cash flows from operating activities Cash generated from operations 3,927 4,128 Interest paid (398) (520) Taxation paid 17 (5) Exceptional items (776) - Net cash generated from operating activities 2,770 3,603 Cash flows from investing activities
Slide 19: The Board
The Board Tom Crawford Peter Mayhead Richard Logan Oliver Scott Chairman CEO NED (Snr. Independent) NED Tom joined the Company Peter was appointed as Richard was appointed to Oliver was appointed to as Chairman in December CEO in January 2018, the Board in 2020. the Board in 2026 as a 2025. having j
Slide 20: Major Shareholders
Major Shareholders MAJOR SHAREHOLDERS % SHAREHOLDING Kestrel Partners LLP 24.60% Dowgate Capital 10.19% Hawk Investment Holdings Limited 7.89% Hargreave Lansdown Nominees Limited 7.81% Interactive Investor 7.32% Mr. M. Bennett 3.37% AJ Bell, Stockbrokers 3.36% 20 20
Slide 21: Glossary of Terms
Glossary of Terms Playout Automation – is the software-driven technology that automatically schedules, manages and delivers television or radio content to air without manual intervention. It controls the seamless, 24/7 playback of programmes, advertisements and graphics, ensuring reliable broadcasti