FY26 Trading Update and Notice of Results

Eagle Eye Solutions Group PLC

17 July 2026

 

 

17 July 2026

Eagle Eye Solutions Group PLC

("Eagle Eye", the "Group" or the "Company")

FY26 Trading Update and Notice of Results

Trading ahead of recently upgraded market expectations

Strong ARR growth of 31%, growing customer wins and OEM progress underpin positive outlook

Eagle Eye, an AI-powered loyalty and promotions platform enabling the world's leading consumer facing brands to deliver personalised customer engagement at scale, today provides an update on the Group's trading for the year ended 30 June 2026 ("the Year" or "FY26").

Eagle Eye built considerable momentum in the year. ARR grew by 31%, driven by major customer wins, continued expansion within existing customers and the first customer contracts from the Group's global OEM partnership. Following the loss of the NRS contract at the start of the Year, the Group set a challenging target to achieve an exit EBITDA margin run rate of 20% - this has been materially exceeded in H2, resulting in adjusted EBITDA for the year of £9.8m, materially ahead of previously raised market expectations⁽¹⁾.

This positive second half trading performance was matched by strong cash generation, providing the Group with continued resilience and flexibility whilst enabling reinvestment into sales, marketing and data engineering, with recruitment programmes ongoing. The Group has entered FY27 with strong momentum, supporting the Group's target of a return to double-digit revenue and EBITDA growth in FY27.

FY26 Financial Highlights

	FY26	FY25	% change
KPIs excluding NRS(2)
Annual Recurring Revenue(3)	£44.5m	£34.0m	+31%
NRR	111%	111%	+0ppts
Group Revenue	£46.1m	£38.1m	+21%
SaaS Revenue	£39.3m	£31.3m	+26%
KPIs including NRS
Group Revenue	£46.7m	£48.2m	-3%
Recurring revenue (subscription fees and transactions)	£40.7m	£40.7m	-
Recurring revenue as a % of Group revenue	87%	84%	+3ppts
Adjusted EBITDA(4)	£9.8m	£12.2m	-19%
Adjusted EBITDA(4) margin	21%	25%	-4ppts
Net cash position(5)	£16.1m	£12.3m	+31%

Notes:

All numbers for the year ending 30 June 2026 disclosed within this announcement are management estimates based on current information and are unaudited.

¹⁾ As at the date immediately prior to this announcement, the Company believes market consensus for FY26 to be revenue of £45.4m, and adjusted EBITDA of £7.0m.

²⁾ Excluding the revenues related to the Neptune Retail Solutions' ("NRS") contract lost in June 2025.

³⁾ Annual recurring revenue ("ARR") is defined as period exit rate for recurring subscription and transaction revenue (exc. SMS) plus any professional services contracted for more than 12 months hence and secured new wins, excluding any seasonal variations and lost contracts. For ARR under the OEM partner contract, ARR is an estimate derived from consumer numbers and volumes, based on experience.

⁴⁾ Adjusted EBITDA excludes share-based payment charges along with depreciation, amortisation, restructuring costs, interest and tax from the measure of profit, along with the costs associated with the acquisition of Promotional Payments Solutions in 2025.

⁵⁾ Net cash is defined as cash and cash equivalents less borrowings.

FY26 Commercial Highlights

●	Win momentum continued in the second half of the year, with new wins including one of the UK's biggest health and beauty retailers, entry into the airline vertical with easyJet, the addition of a major global brand, Subway, and a Proof of Concept ("POC") trial with a major French grocer. Together, these wins further validate Eagle Eye's competitive strength and applicability of our platform across sectors.
●	The Group signed renewals with major customers in H2, including Woolworths for 5 years, and Auchan for 2 years, and expanded with customers including Carrefour, Asda and Morrisons, resulting in NRR of 111%.
●	EagleAI revenues continued to grow, up 34% in the year, representing a strong acceleration on H1, with the integration of AIR and EagleAI within AI Personalised Promotions strengthening Eagle Eye's competitive advantage.
●	First two contracts with blue-chip European customers secured via the global OEM agreement, taking Eagle Eye into new sectors, with revenue and ARR growth anticipated from FY27.
●	New partnerships secured with a range of system integrator partners including Deloitte Digital Central Europe, Commerce Architects and Equal Experts, further expanding the Group's routes to market.

Positive outlook, on track to deliver on the Group's ambitions

●	The Group enters FY27 with growing ARR, sustained customer Win momentum and considerably strengthened routes to market, which the Group believes supports a return to double-digit revenue and EBITDA growth in FY27.
●	The Group remains on track to deliver its medium-term targets of over £100m revenue and +30% EBITDA margin.

Tim Mason, Chief Executive of Eagle Eye, said:

"FY26 has been a year of recovery, and delivery, for Eagle Eye. We said at the start of the year that this was an excellent business, built on solid foundations, and that we would act fast, execute our plan and exit the year with strong momentum. As a result of a huge team effort, we have exceeded expectations, for both revenue and adjusted EBITDA, and entered FY27 with sustained vigour and focus.

"The second half of FY26 has seen our win momentum continue, welcoming additional exceptional businesses to our client base. We are delighted to be supporting one of the UK's best-known health and beauty retailers, the addition of easyJet demonstrates our applicability to a new vertical, and with Subway we have added another major, global brand to the roster, while making important progress with our global OEM partner. These developments expand our addressable market and reinforce the applicability of our platform across sectors through our combination of true personalisation through AI and real-time offer execution at scale.

"With a differentiated and proven AI-powered offering, growing recurring revenue and strengthened partner ecosystem, we believe Eagle Eye is well positioned to deliver the next phase of profitable growth."

Financial and Operational Performance

Strong financial performance, with KPIs showing the strength and scalability of the business

ARR⁽³⁾ continues to grow strongly, up 31% to £44.5m (FY25: £34.0m) driven by sales investment and improved win rate.

Group revenue decreased overall, reflecting the NRS loss, to £46.7m (FY25: £48.2m) but was ahead of market expectations⁽¹⁾. Underlying revenue, ex-NRS, grew by 21% to £46.1m (FY25: £38.1m), demonstrating the momentum in the business.

The revenue mix continues to strengthen, with recurring revenue representing 87% of Group revenue in FY26 (FY25: 84%), reflecting a higher proportion of predictable, high-quality SaaS revenue and supporting the Group's medium-term margin expansion objectives. Within this, EagleAI revenues increased 34% to £7.7m, having won new customers for this product range, such as Morrisons, Wakefern and Asda and expanded volumes with existing customers including Carrefour.

Adjusted EBITDA strengthened considerably in H2, as a result of the increasing proportion of high-quality SaaS revenue, cost discipline and ongoing benefits from efficiency programmes. This resulted in Group adjusted EBITDA of £9.8m (FY25: £12.2m), materially ahead of previously raised market expectations⁽¹⁾, delivering a 21% EBITDA margin for the Year (FY25: 25%).

The Group generated strong cash flow in the Year, ending the period with a net cash position of £16.1m (FY25: £12.3m), including a £0.5m net benefit from the share buyback programme and sale of treasury shares. This robust cash position provides continued capital allocation flexibility while supporting ongoing investment in sales capability and AI-led product development.

Growing win momentum

In addition to the eight multi-year contracts secured for the AIR platform and EagleAI solutions across North America, Europe and Asia already announced, contracts secured in H2 include:

1.    A three-year agreement with Asda for EagleAI's Personalised Challenges, expanding the Group's relationship with this leading UK retailer, which began in 2014.

2.    A three-year agreement with easyJet, a low-cost European airline, through Eagle Eye's partner BCG, to support its new loyalty scheme expected to launch in 2027. 

3.   A three-year agreement with one of the UK's leading health and beauty retailers, for Personalised Challenges, further strengthening the Group's position within the health and beauty retail sector.

4.   A three-year agreement with Subway, the American multinational fast food restaurant franchise, for the AIR platform to support their loyalty programme across four European markets, further strengthening the Group's established position within the quick service restaurant sector.

5.    A POC agreement with a major French grocer, to trial Personalised Challenges to support customer engagement and loyalty across selected stores, increasing the Group's coverage of the French grocery market to >80%, excluding discounters.

Eagle Eye also continued to deepen relationships with existing customers, increasing ARR through expanded use cases and adoption of additional platform capabilities which are delivering increased customer transactional volumes. This includes a five-year renewal with Woolworths Group in H2 for the AIR platform, extending a long-standing strategic partnership that supports the retailer's loyalty and personalised promotions capabilities across Australia and New Zealand, a two-year renewal with Auchan in France, and expansion with Carrefour and Morrisons.

Global OEM partnership delivering as expected and expanding partner ecosystem

Eagle Eye has made continued progress with its OEM agreement, embedding core elements of the AIR platform within a leading global software provider's offering, expanding the Group's reach into new regions and sectors.

The partnership has moved beyond implementation, with the initial two contracts estimated to deliver approximately £2m of ARR in initial deployments and be revenue generating in FY27. The Group is focused on scaling the opportunity, with the OEM channel expected to become an increasingly important contributor to growth from FY27 onwards.

The Group continued to expand its partner ecosystem during the Year, with new System Integrator partnerships including Deloitte Digital Central Europe and Commerce Architects, alongside Equal Experts, which enhances the Group's enterprise delivery capability.

Notice of Results

The Group expects to announce its results for the year ended 30 June 2026 on 15 September 2026.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging release of this announcement on behalf of Eagle Eye is Lucy Sharman-Munday, Chief Financial Officer.

Enquiries:

Eagle Eye Solutions Group plc	Tel: [phone]
Tim Mason, Chief Executive Officer
Lucy Sharman-Munday, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
Simon Bridges, Harry Gooden, Andrew Potts, Elizabeth Halley-Stott
Shore Capital (Joint Broker)	Tel: [phone]
Corporate Advisory: Daniel Bush, David Coaten, Lucy Bowden
Corporate Broking: Henry Willcocks
Alma Strategic Communications	Tel: [phone]
Caroline Forde, Hannah Campbell, Rose Docherty

About Eagle Eye

Eagle Eye is an AI-powered loyalty and promotions platform, enabling the world's leading retailers, grocers, hospitality and travel brands to earn lasting customer loyalty through real-time personalised engagement. Our platform embeds AI natively - combining enterprise-grade loyalty and promotions capability with built-for-purpose intelligence to deliver 1:1 personalisation to millions of customers globally.

Our growing international customer base includes Loblaws, Giant Eagle, Wakefern, Asda, Tesco, Morrisons, JD Sports, E.Leclerc, Carrefour and the Woolworths Group. Each week, more than 1.7 billion personalized offers are seamlessly executed via our platform, and over 750 million loyalty member wallets are managed worldwide.

API-based and cloud-native, Eagle Eye's enterprise-grade technology is fully certified by the MACH Alliance and has received recognition from leading industry bodies, including Gartner, Forrester, IDC and QKS. 

Web - www.eagleeye.com  

 

END