Fintel upbeat after strong 2024 performance

(Sharecast News) - Fintel reported a strong 2024 financial performance on Tuesday, with core revenue rising 22% to £68.9m, supported by £15m in revenue from acquisitions. The AIM-traded firm said adjusted EBITDA increased 8.5% to £22.2m as the company continued to invest in expanding its product and service offerings.

Core software-as-a-service and subscription revenue grew 17% to £44.1m, reflecting the strength of its recurring revenue streams.

The company completed four acquisitions in 2024 with an initial cash investment of £16.6m, contributing £7.5m in core revenue.

Strategic additions included Owen James to strengthen its events and insights business, Synaptic Software to expand into the protection sector, and ifaDASH to enhance regulatory technology capabilities.

Fintel said it also made a minority investment in Mortgage Brain and acquired Threesixty Services to bolster its compliance offering.

In early 2025, it completed the acquisition of Rayner Spencer Mills Research to extend its fund research and ratings platform.

Fintel maintained a strong balance sheet with £6.3m in cash and £50m in available credit.

Net debt stood at £23.7m, representing leverage of 1.1x following acquisitions and increased investment.

Adjusted earnings per share rose 8.2% to 13.2p, benefiting from a one-off tax gain.

The board proposed a final dividend of 2.45p per share, bringing the full-year payout to 3.65p, up 5.8% from 2023.

Fintel said it continued investing in technology, launching its Matrix 360 market intelligence software in January 2025 and its Fintel IQ platform in May 2024 to support larger IFA firms.

It also expanded its technology, data, and research capabilities following recent acquisitions.

The company said it entered 2025 with strong momentum, with trading in line with expectations.

Fintel said it expected to benefit from an improving housing market and rising regulatory demand for data and insights.

Management remained confident in delivering further strategic and financial progress through acquisition integration, organic growth, and further synergies.

"2024 has been a seminal year for Fintel, marked by continued strategic advancements and strong financial performance," said chief executive officer Matt Timmins.

"The company has delivered robust results, with complementary acquisitions contributing to substantial growth in software-as-a-service and subscription-based revenues.

"We have expanded the Fintel group by welcoming four new businesses in 2024, with the previously announced acquisition of RSMR successfully completing in January."

Timmins said the strategic acquisitions, combined with ongoing investments in the company's proprietary technology and data solutions, had enhanced the firm's intellectual property, scale, and market presence, laying the foundation for sustained organic growth.

"Looking ahead, we remain confident in our ability to achieve further progress.

"We have started the year positively, trading in line with board expectations, and onboarding six new customers to our Matrix 360 market intelligence software.

"With our comprehensive technology platform strongly positioned to capitalise on further growth opportunities within the fragmented retail financial services sector, we see material opportunities for value creation across our family of brands."

Reporting by Josh White for Sharecast.com.