Trading Update

Pulsar Group PLC

20 February 2026

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Pulsar Group Plc

("Pulsar", the "Group" or the "Company")

Trading Update

Pulsar Group Plc (AIM: PULS), the technology innovator delivering Software-as-a-Service (SaaS) solutions for the global marketing and communications industries, is pleased to announce an update on trading for the year ended 30 November 2025 ("FY25").

Financial Performance

The Group delivered a strong performance in FY25, characterised by accelerating organic growth for the Group and the successful delivery of £7.0m of annualised cost savings through its structural cost-rationalisation programme in 2025.

ARR Growth

Total Group ARR at year end increased to £64.5m, delivering a £3.9m¹ increase in ARR year on year. This represents nearly double the growth achieved in FY24:

●    EMEA & North America (EMNA): EMNA continues to be the primary engine of growth, with ARR growing to £34.2m. This represents an increase of £3.4m¹, doubling the £1.7m¹ increase seen in FY24. We secured a significant multi-year partnership with a global marketing leader during the year with service delivery beginning ahead of our December announcement, ensuring that €2.1m in ARR was already contributing to our FY25 performance. As global enterprises standardise on the Pulsar platform for strategic intelligence, this region remains the Group's strongest performing region.

●    APAC Growth Acceleration: Building on the turnaround established in FY24, the APAC region saw an acceleration in growth velocity, delivering £0.5m¹ ARR growth in FY25 compared to £0.3m¹ in FY24. This performance reflects both the efforts of the Isentia team and strong regional demand for the Group's enhanced AI capabilities.

ARR	FY23	FY24 Change	FY24	FY25 Change	FY25
EMNA (Constant Currency)	£29.1m	+£1.7m	£30.8m	+£3.4m	£34.2m
EMNA (Reported)	£29.7m	+£1.4m	£31.1m	+£3.1m	£34.2m
APAC (Constant Currency)	£29.5m	+£0.3m	£29.8m	+£0.5m	£30.3m
APAC (Reported)	£31.6m	-£1.0m	£30.6m	-£0.3m	£30.3m
Group (Constant Currency)	£58.6m	+£2.0m	£60.6m	+£3.9m	£64.5m
Group (Reported)	£61.3m	+£0.4m	£61.7m	+£2.8m	£64.5m

Financial Performance Improvement

The Board expects total revenue for the financial year to be approximately £61.0m, demonstrating modest growth on a constant currency basis (2024: £62.0m reported, £60.1m¹) with 97% of revenue being recurring (2024: 98%).

The Group delivered more than £7.0m in annualised cost savings during 2025, primarily through automation and the decommissioning of duplicate legacy technology across the Group. Overall Group headcount has reduced by 22% from 918 FTE in November 2024 to 718 FTE as at February 2026. The continued focus on operating model optimisation has helped Pulsar to deliver year on year Adjusted EBITDA growth of 13%¹, and an improvement in Adjusted EBITDA margin from 15.0%¹ in 2024 to 16.5% in 2025. It is expected that Adjusted EBITDA will be approximately £10.2m (2024: £9.3m reported, £8.9m¹), in line with the Board's expectations.

Net debt stood at approximately £5.6m as of 30 November 2025, driven by one-off restructuring costs related to our accelerated cost-base optimisation. This position has since improved significantly throughout Q1 2026.

Outlook

Following the successful delivery of its 2025 restructuring programme, the Group reached a significant inflection point in its cash generation profile as it started the new financial year.

In the first 12 weeks of FY26, the Group has delivered significant free cash flow, resulting in monthly decreases in net debt since the year-end. This cash performance has facilitated a substantial reduction in total net debt, from £5.6m at 30 November 2025 to £2.7m as at 19 February 2026. The Board expects sustainable ongoing cash generation going forwards.

The Group continued to release exciting new functionality into the market during FY25 and early FY26, with its transition to an Agentic AI platform (autonomous AI agents performing intelligence tasks) driving high-value enterprise adoption, with new features including:

●     Insight Agents: The launch of "TeamMates", a new class of specialised AI agents trained to execute high-frequency, high-value intelligence tasks across the platform. The most frequent use cases in social listening & media monitoring, audience intelligence and narrative detection, initially serve four main insights functions:

○     Sentinels, focused on alerting and early signal detection

○     Oracles, designed for prediction, escalation, and scenario awareness

○     Custodians, supporting regulatory and compliance use cases

○     Analysts, optimised for research, narrative interpretation, and insight generation

This agentic architecture enables the Group to leverage core AI R&D across multiple markets and workflows, accelerating product development while maintaining a disciplined cost base.

The commercial impact of this strategy is already visible through the launch of new vertical solutions. Pulsar CLEAR, the Group's Agentic AI compliance system, extends Pulsar's capabilities into advertising and regulatory compliance, while Crisis Oracle introduces predictive brand risk intelligence, enabling clients to identify and mitigate reputational threats before escalation. These products materially expand the Group's addressable market, unlocking new revenue streams across both potential new segments and our existing customer base through enhanced upsell and cross-sell opportunities.

●    Enterprise Infrastructure: The introduction of Pulsar Workspaces, enabling seamless management of data and governance for our largest global clients.

●     Lumina: Alongside these innovations, the Group has deployed Lumina, its intelligence suite purpose-built for PR and communications professionals, and continues to enhance Narratives AI, the world's first search engine for public opinion.

●    Other recent enhancements including expanded platform coverage, geographic narrative intelligence, and LLM-inferred strategic insights further strengthen Pulsar's differentiation in narrative and reputational intelligence.

Pulsar Group enters FY26 with a right-sized cost base, accelerating growth momentum in both APAC and EMNA, and a clear technological lead in Agentic AI for communications, marketing and compliance intelligence. The rapid reduction in net debt seen in the first quarter, together with additional cost savings already identified as the Group continues to focus on enhancing its operational leverage provides a robust platform for the Group to deliver sustainable, profitable and cash generative growth in the year ahead.

Joanna Arnold, CEO of the Company, said:

"FY25 was a defining year for Pulsar, characterised by a significant acceleration in organic growth and the successful delivery of our structural cost-rationalisation programme. I am particularly encouraged by the near doubling of our growth velocity at a Group level on a constant currency basis, with our EMNA region continuing to serve as a powerful engine for expansion.

With a leaner, more efficient operating model the Group is very focused on our technological leadership in Agentic AI. The launch of our 'TeamMates' framework and specialised tools like LUMINA and CLEAR represent the next generation of intelligence, shifting our platform from passive monitoring to proactive, expert-led foresight for our clients.

As we enter FY26, the Group has reached a clear inflection point in cash generation. The rapid de-leveraging achieved in the first quarter, combined with a right-sized cost base and market-leading AI innovation, gives us strong confidence for the year ahead."

1.     On a constant currency basis.

For further information:

Pulsar Group plc                                                                                                                    020 3426 4070

Joanna Arnold (CEO) / Mark Fautley (CFO)

Cavendish Capital Markets (Nominated Adviser and Broker)                                      020 7220 0500

Corporate Finance:

Marc Milmo / Fergus Sullivan / Elysia Bough                                                  

Corporate Broking:

Sunila de Silva

 

END