Robust performance, strong cash balance and solid closing order book
Good progress made on strategic transformation initiatives
Ongoing strategy expected to support accelerating returns and sustainable growth from FY27 and beyond

Synectics plc (AIM: SNX), a leader in advanced security and surveillance solutions, announces its audited final results for the year ended 30 November 2025 (“FY25”).

Financial Highlights

• Revenue increased by 22.0% to £68.1 million (FY24: £55.8 million)
• Adjusted EBITDA¹ increased by 36.1% to £8.5 million (FY24: £6.3 million)
• Adjusted diluted earnings per share² increased significantly to 28.0p (FY24: 21.7p)
• Record cash balance at 30 November 2025 of £14.1 million with no bank debt³ (30 November 2024: £9.6 million, no bank debt) 
• Solid order book at 30 November 2025 of £26.5 million (30 November 2024: £38.5 million). The change in order book from the prior year end predominantly reflects the completion of a significant gaming contract
• Recommended final dividend of 2.8 pence per share (FY24: 2.5 pence) giving an increased total dividend up 11.1% to 5.0 pence per share (FY24: 4.5 pence)

Operational Highlights and Strategic Update

• Solid operational performance across FY25 
  - Synectic Systems revenues up 21%, driven by a significant increase in revenue from the leisure and hospitality sector
  - Ocular Integration (“Ocular”) revenues up 24%, underpinned by solid growth across transport and critical infrastructure markets
• Successful execution of major gaming project contributing £12 million revenue in the year, demonstrating Synectics’ capability to deliver large-scale, mission critical deployments internationally
• Execution phase of a business-wide transformation underway
  - Key focus centred on building a scalable, product-led business model
  - Launch of enhanced global Systems Integrator partner programme, supporting a shift towards partner-led growth and improved scalability
  - Established a Senior Leadership Team for Synectic Systems with the required expertise to deliver the transformational strategy 
• Synergy DETECT was named Winner in the Surveillance / CCTV Innovation category at the Benchmark Innovation Awards
• Appointment of Paul Williams to the Board as Chief Financial Officer in August 2025

Outlook

• FY26 will be a focused transitional investment year, supported by a strong balance sheet, solid order book and good pipeline visibility
• Revenue performance in FY26 is expected to be around 10% lower than FY25 with growth offset by the absence of the significant one-off contract delivered in FY25. This is alongside investment during FY26 in line with our long-term growth, therefore FY26 is expected to deliver mid-single-digit EBITDA margins
• Double-digit revenue growth is expected in FY27, with EBITDA anticipated to exceed normalised FY25 levels once the impact of the non-recurring contract is excluded
• By FY28, the Group anticipates further acceleration of revenue growth and EBITDA margins as the strategic initiatives implemented in FY25 and FY26 create a robust platform for accelerating returns and sustainable growth  

Commenting on the results, Amanda Larnder, Chief Executive Officer, said:

“FY25 has been an important year for Synectics. We delivered robust financial growth, supported by the successful execution of a major gaming project, while also taking meaningful steps to reposition the business for more scalable and sustainable growth.

“Over the past year, I have focused on building the right leadership capability, bringing greater clarity to how we operate and setting a clear direction for a more scalable, product-led, partner-enabled future. FY26 will be a year of disciplined transition as we embed these changes and continue to invest in the capabilities required to scale effectively.

“With a strong balance sheet, solid order book and improving pipeline visibility, I am confident that the work we have already undertaken in FY25, and the progress we will continue to make in FY26 positions us well to generate higher and more sustainable returns from FY27 and beyond.”

¹ _{Adjusted EBITDA represents profit before share-based payments, finance costs, tax, depreciation, amortisation and non-underlying items. (refer to Note 2 below for a detailed breakdown)}
² _{Adjusted earnings per share is based on profit after tax but before share-based payments and non-underlying items.}
³ _{Excluding IFRS 16 lease liabilities.}

^{The footnotes above apply throughout this announcement.}

For further information, please contact:

Synectics plc
Amanda Larnder, Chief Executive Officer
Paul Williams, Chief Financial Officer
Claire Stewart, Company Secretary
Tel: +44 (0) 114 280 2828
[email protected]

Singer Capital Markets
Jen Boorer / James Fischer / Patrick Weaver
Tel: +44 (0) 20 7496 3000

Vigo Consulting
Jeremy Garcia / Fiona Hetherington / Peter Jacob
Tel: +44 (0) 20 7390 0230
[email protected]