Idox: Full Year 2025 Trading Update

18 November 2025

Idox plc

('Idox', the 'Group' or the 'Company')

Full Year 2025 Trading Update

Idox plc (AIM: IDOX), a leading supplier of specialist information management software and geospatial data solutions to the public and asset-intensive sectors, today issues a trading update for its financial year ended 31 October 2025 ('FY25').

Group trading performance

As detailed in the Recommended Cash Offer for Idox plc by Frankel UK Bidco Limited on 28 October 2025, revenue for FY25 is expected to be slightly below prior management expectations, while profitability and net debt is anticipated to be in line with prior management expectations.

The Board expects to report (subject to external audit) total revenue of c.£90m (FY24: £87.6m). Of this, recurring and repeatable revenue is expected to be c.£60m (FY24: £54.5m) incorporating c.£1.3m from Plianz in the period. This was partially offset by a reduction in non-recurring revenue to c.£30m (FY24: £33.1m), as the prior year benefited from additional revenue relating to the General Election and cyclical effects in Land, Property & Public Protection.

The Group booked an order intake of c.£108m in FY25 (FY24: £102m), with strong increases in the Assets division and Geospatial data solutions.

Full year Adjusted EBITDA¹ is expected to be c.£27.0m (FY24: £26.1m) with an Adjusted EBITDA margin of c.30%. The Group continued to generate good cash flows and ended the year with a net debt² position of c.£13.0m (£9.9m as at 31 October 2024), which included the acquisition of Plianz in May 2025 for £7.7m in cash.

Notice of results

The Group expects to report its FY25 results in late January 2026.

David Meaden, Chief Executive Officer of Idox commented:

"The Group has delivered a resilient performance for FY25, benefiting from a strong first half. We are pleased that we have continued to grow our recurring and repeatable revenue and increase our Adjusted EBITDA through balancing disciplined cost management and levels of investment.  

The acquisition of Plianz during the year, strengthened our existing Health and Social Care offering and enhanced our recurring revenue base."

The UK Panel on Takeover and Mergers has confirmed that the statement in relation to FY25 Adjusted EBITDA (the "Profit Estimate") constitutes an ordinary course profit forecast for the purposes of Note 2(b) to Rule 28.1 of the City Code on Takeovers and Mergers (the "Takeover Code"), to which the requirements of Rule 28.1(c)(i) of the Takeover Code apply. The additional disclosures required by the Takeover Code are set out in the Appendix to this announcement.

Definitions

¹ Adjusted EBITDA (earnings before interest, tax, depreciate and amortisation) is defined as earnings before amortisation, depreciation, restructuring, acquisition costs, impairment, financing costs and share option costs.

² Net debt is defined as the aggregation of cash, bank borrowings and in FY24 also including the long-term bond. This differs from a similar measure under IFRS, which would also include lease liabilities as debt. The definition used is consistent with that used within the Group's banking arrangements.

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APPENDIX: RULE 28 OF THE TAKEOVER CODE

The UK Panel on Takeovers and Mergers has confirmed that the Profit Estimate constitutes an ordinary course profit forecast for the purposes of Note 2(b) to Rule 28.1 of the Takeover Code, to which the requirements of Rule 28.1(c)(i) of the Takeover Code apply.

Directors' confirmation

The directors have considered the Profit Estimate and confirm that it remains valid as at the date of this statement, has been properly compiled and the basis of the accounting used is consistent with the Group's existing accounting policies.

Basis of preparation

The Profit Estimate is based on the Group's current internal unaudited consolidated accounts for the year ended 31 October 2025. The Profit Estimate is not based on any assumptions. The basis of the accounting policies used in the Profit Estimate is consistent with the existing accounting policies of the Group, which uses 'Alternative Performance Measures' or other non-International Financial Reporting Standards measures and then reconciles such measures to International Financial Reporting Standards as approved by the International Accounting Standards Board and adopted by the European Union."