Slide 1: FY25 Results at 25
FY25 RESULTS July 2025 AT 25
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Slide 4: FY25 Performance Highlights
FY25 Performance Highlights Momentum maintained. Platform revenue up 39% on last year; total revenue up 25% US Revenue up by 49% YoY; UK up by 28% YoY Over 300 new client wins; Total client base up 31% Net Revenue Retention Rate of 106% on platform revenue Ad testing Revenue up by 38% YoY
Slide 5: James Gregory, Chief Executive Officer
James Gregory Chief Executive Officer
Slide 6: We help the world's largest brands make confident creative decisions
We help the world’s largest brands make confident creative decisions that lead to transformational business results
Slide 7: We focus on the twin engines of marketing growth
We focus on the twin engines of marketing growth – Advertising and Innovation – to grow our customers’ long-term brand and short-term sales Advertising How can I be The world’s most predictive confident that my ad effectiveness platform and advertising will drive growth? competitiveness database Imp
Slide 8: What makes System1 unique?
What makes System1 unique? 1 2 3 4 5 We uniquely measure We have the We have THOUGHT We understand WHY We have FAST EMOTION and WORLD’S LARGEST LEADERSHIP, with advertising and turnaround with SYSTEM1 RESPONSE DATABASES OF the best INDUSTRY innovation great and SIMPLE, CLEAR, because it PREDICTS EMO
Slide 9: Source | Clayton Christensen, Harvard Business School
Source | Clayton Christensen, Harvard Business School
Slide 10: Creativity is the biggest driver of advertising profitability
Creativity is still ‘by some way’* the biggest driver of advertising profitability that a brand can control” Profitability Multiplier x12 x20 x2.5 x3 x5 x1.1 x1.2 x1.6 x1.6 x2.0 across portfolios Cost / Product Seasonality across variants Budget setting Multi-media Budget setting Budget setting acro
Slide 11: © System1 Group PLC
© System1 Group PLC 11
Slide 12: What makes our metrics so accurate?
What makes our metrics so accurate? System 1 and System 2: Kahneman | ‘Thinking, fast and slow’ Percentages: Zaltman | ‘How Customers think; Essential insights into the Mind of the Market’
Slide 13: Years of behavioural science history with platform acceleration
We have 25 years of … with 5 years of behavioural science history platform acceleration 2000 - 2021 2021 Onwards
Slide 14: A marketing decision-making platform that predicts and improves effectiveness
predicts and improves marketing effectiveness… We are a marketing We predict and improve decision-making platform marketing effectiveness
Slide 15: Predictions delivered through an automated platform
… our predictions (and some improvements) are delivered through an automated platform … Predict Your… Improve Your… Project Management Set up Programming Panel Data processing Reports Data Led respondents Consultancy Forward translation Back translation Key: Automated Process Consultancy © System1 G
Slide 16: Results provided on a self-serve platform
… with results provided to customers on a self-serve platform © System1 Group PLC 16
Slide 17: Platform and products based on world leading IP
Our platform and Products based on world leading IP, methodologies and technologies Ads | Brands Survey Emotions measured Markets Ideas tested Responses through FaceTrace 210K+ 17M+ 40M+ 70+ © System1 Group PLC 17
Slide 18: Global reach with centralised hubs and local insight
We have global reach with centralised hubs and local insight and sales 13 offices around the globe and servicing 81 markets London Boston Hamburg Chicago Paris Rotterdam New York Lausanne Los Angeles Miami Singapore São Paulo Sydney © System1 Group PLC 18
Slide 19: Platform revenue grew year on year driving top line growth
Platform revenue grew year on year driving top line growth Platform Bespoke Consultancy 40 35 2.9 30 5.2 25 6.0 £m 20 34.5 15 24.8 10 17.4 5 0 FY23 FY24 FY25 © System1 Group PLC 19
Slide 20: Half on half platform revenue growth in FY25
Underpinned by half on half platform revenue growth in FY25 20 Data Data-led consultancy 18 16 14 12 Revenue £m 10 8 6 4 2 0 H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 © System1 Group PLC 20
Slide 21: Predict your and improve your offering driving revenues
The combination of our ‘predict your’ and ‘improve your’ offering is driving revenues Data (Predict Your) 23% 54% 2% 14% Data-Led Bespoke Consultancy 0% Consultancy (Improve Your) 2% 5% % revenue split by variant FY25 total revenue - £37.4M © System1 Group PLC 21
Slide 22: 106% Platform Net Revenue Retention in FY25
We delivered 106% Platform Net Revenue Retention in FY25 and £8.1M Platform New Client Revenue 40 35 New client 30 revenue Platform Revenue £m NRR 25 106% New client 20 revenue NRR 15 100% 10 5 0 FY23 FY24 FY25 © System1 Group PLC 22
Slide 23: Ad testing as the growth engine
Ad testing as the growth engine while foundations laid in Innovation 35 30 FY24 FY25 25 Revenue £m 20 15 10 5 0 Comms Brand Innovation Product Group © System1 Group PLC 23
Slide 24: Working with 5 of the top 10 USA advertisers
Resulting in us working with 5 of the top 10 USA advertisers … Rank Parent Company Industry Ad Spend June ’23 ($m) Procter & Gamble Consumer Packaged Goods 109.3 Abbvie Pharmaceuticals 81.4 GSK Pharmaceuticals 52.8 Walt Disney Media | Entertainment 47.0 Novo Nordisk Pharmaceuticals 44.4 Progressive
Slide 25: Working with 8 of the top 10 UK advertisers
… And with 8 of the top 10 UK advertisers Rank Company Commercial Impacts (billion) Procter & Gamble 23.4 Sky 19.9 Unilever 15.4 Crown Commercial Service 10.7 L’Oréal 9.9 Reckitt Benckiser 7.7 Tesco 7.3 McDonald’s 7.2 Amazon 7.1 EE Limited 6.9 Source: Statista, 2022
Slide 26: Chris Willford, Chief Financial Officer
Chris Willford Chief Financial Officer
Slide 27: Growth in profitability shows benefit of scalable business model
Growth in Profitability shows benefit of our scalable business model FY25 FY24 Change £m Change % Platform Revenue 34.5 24.8 +9.7 +39% Total Revenue 37.4 30.0 +7.4 +25% Cost of Sales (4.6) (3.9) +0.6 +17% Gross Profit 32.9 26.1 +6.8 +26% Statutory Profit Before Tax 5.3 3.1 +2.2 +71% Adjusted Profit
Slide 28: Strong revenue growth in UK, US and APAC in FY25
Strong revenue growth in UK, US and APAC in FY25 +28% +49% -18% +28% +5% © System1 Group PLC 28
Slide 29: Key Performance Indicators are moving in the right direction
Our Key Performance Indicators are moving in the right direction KPIs FY25 FY24 Platform Revenue % total Revenue 92 82 Platform Revenue growth % +39 +43 Gross Profit % Revenue 88 87 Adjusted EBITDA % Revenue 18 15 “Rule of 40”1 57 57 Net cash £m 12.9 9.6 1 Platform Revenue growth % + Adjusted Group
Slide 30: On track to meet our medium-term goals
…and we believe we are on track to meet our medium-term goals KPIs FY25 3-Year Range Goal at Scale Platform Revenue % total Revenue 92 90-95% 95% Platform Revenue growth % 39 20-30% 10-20% Gross Profit % Revenue 88 85-87% >85% Adjusted EBITDA % Revenue 18 15-20% >30% “Rule of 40” 57 35-50% >40% © Sy
Slide 31: Scaling effect continues
Scaling effect continues Revenue £m Adj EBITDA £m Adj EBITDA % (Right Scale) 40 30% 37 35 25% 30 Revenue and EBITDA £m 30 20% 23 18% EBITDA Margin 25 15% 20 15% 15 10% 7% 10 6.6 5 4.4 5% 1.6 0 0% FY23 FY24 FY25 © System1 Group PLC 31
Slide 32: Long term value while making medium term investments
We are delivering long term value while making medium term investments Core expenditure -base Additional investment EBITDA 30% Revenue (Total Stack) 20-25% FY24 Act Medium Term Longer Term ILLUSTRATIVE Growth Scenarios This is not intended to be construed as a profit forecast © System1 Group PLC 32
Slide 33: Proposed FY25 ordinary and special dividends
Proposed FY25 ordinary and special dividends 5.5p Ordinary dividend Dividend per share (p) 12 + 5.5p Special Dividend 10 Special dividend reflects exceptionally low FY25 tax charge 8 5.5 Distributes surplus cash 6 4 AGM 24 September 5.0 5.5 2 Ex date 25 September 0 FY24 FY25 Record date 26 September
Slide 34: Strategic Goals
Strategic Goals System1
Slide 35: Significant progress on our strategic goals
We are making significant progress on our 3 strategic goals Innovation USA World’s Largest (Idea Testing) Brands © System1 Group PLC 35
Slide 36: Investment analysis
Investment analysis Additional Investment Additional Investment FY26 Forecast FY26 Forecast Innovation Advertising Other People Go To Market IT Development © System1 Group PLC 36
Slide 37: Innovation
Innovation
Slide 38: Massive headroom in the pre-testing market
There is massive headroom in the pre-testing market and we are playing in growth areas Total Addressable Market $20.43bn Ad Pre Testing Innovation Testing Brand Tracking $2.46bn $12.02bn $5.95bn Source | Global Market Research 2023 | ESOMAR © System1 Group PLC 38
Slide 39: Launched updated Test Your Innovation proposition
We launched our updated Test Your Innovation proposition
Slide 40: We have invested in our Innovation Proposition
We have invested in our Innovation Proposition Innovation Innovation Go To MD Team Market
Slide 41: Platform Innovation sales growing QoQ
Platform Innovation sales growing QoQ Platform Innovation 1.0 £m 0.5 0.0 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 © System1 Group PLC 41
Slide 42: Winning in America
Winning in America System1
Slide 43: Growing share in the biggest market, the US
We are growing share in the biggest market – the US $11bn 8% 42% $77bn 38% 54% 29% $142bn Global Insights Industry 34% Global Industry % Revenue FY24 % of S1 Revenue FY25 % of S1 Revenue Source | Global Market Research 2023 | ESOMAR © System1 Group PLC 43
Slide 44: US Revenue accelerating following focused investment
US Revenue accelerating following focused investment US Revenue £m Non platform Platform 14 12 10 8 6 4 2 0 FY23 FY24 FY25 © System1 Group PLC 44
Slide 45: Investing in fame, partnerships and go-to-market in the US
We continue to invest in fame, partnerships and go-to-market in the US Go To Fame Partnerships Market © System1 Group PLC 45
Slide 46: World's Largest Brands
World’s Largest Brands
Slide 47: Big Wins | £8.2m new business in FY25
Big Wins | £8.2m new business in FY25 +£2.8m +£4.6m +£0.8m A global SAAS platform; A global social media platform; Australia's leading Out-of-Home advertising company; A global streaming A global tobacco company; entertainment platform A world leader in premium spirits A global spirits
Slide 48: FY26 Q1 Update & Outlook
FY26 Q1 Update & Outlook System1
Slide 49: FY26 Q1 Performance Highlights
FY26 Q1 Performance Highlights Total Revenue down 7% YoY; Platform revenue down 3% YoY (Data flat YoY at £6.8M) Temporary slow down driven by US Trade Tariffs: Caution on spend in Europe with automotive and premium drinks brands Currency impact at -4% due mainly to change of USD vs GBP Pla
Slide 50: FY26 Outlook
FY26 Outlook Based on strength in our US and UK businesses together with a slower recovery in Europe the Board expects the following for FY26: Overall revenue to grow at approximately 15% YoY H2 revenue expected to seasonally stronger than H1 in line with historic trends Profits expected to
Slide 51: Questions?
Questions? System!