Return to Growth with EBITDA Performance Ahead of Market Expectations
AIM-listed Getech, a world-leading locator of subsurface resources, has provided a trading update (unaudited) for the financial year ended 31 December 2025.
2025 Highlights:
- Turnaround plan successfully delivered by new management team over the last 11 months.
- Resulting in improved trading with the Company expecting 6% revenue growth to £5.0m (2024: £4.7m), and adjusted EBITDA of £0.5m (2024: loss of £0.6m) - the first positive EBITDA figure for the Company since 2019.
- Introduced new sustainable business strategy - refocusing the Group on its traditional markets of Oil & Gas and Mining whilst also maintaining a focus on selective Natural Hydrogen projects.
- Re-set the Company's financial base, reducing costs by c. 20% - a c. £1.0m annualised reduction.
- Expanded and re-organised global sales team under new sales Director, leading to improved size and quality of new business pipeline.
- The Group orderbook stood at £3.8m at 31 December 2025 (2024: £4.1m), reflecting the natural conversion of contracted orderbook into revenue.
- Cash at bank of £0.2m at 31 December 2025, held back by a delayed £0.4m payment caused by the US government shutdown in Q4 FY25 which was received after the period end. Receivables at 31 December 2025 totalled £1.5m, with debt of £0.15m.
- Annual recurring revenue ("ARR") at end FY25 was £2.8m (2024: £2.9m), expected to improve in 2026 backed by a pipeline of prospective clients looking to utilise the Globe platform under multi-year contracts.
2026 Outlook:
- In 2025 Getech established itself as a market leader in the nascent but potentially vast Natural Hydrogen market via selective project identification and anticipates further focused activity in the current year.
- Positive momentum has carried into 2026, supported by a deeper sales pipeline that offers greater visibility of increased future revenues and activity.
Chris Jepps, CEO of Getech, said:
'We have achieved the goals we set at the start of the year. We did this by resetting the Company cost base without restricting our ability to deliver projects and grow revenues, and by taking the business back to its roots by focusing on the markets we know best: Oil & Gas, Mining and Natural Hydrogen.
The trading performance has been very satisfying. Our objective now is to build momentum by continuing to grow our revenue lines and in particular focusing on materially adding to ARR via our subscription products, both with new clients and by expanding existing contracts.
Ultimately, we are looking to achieve a better balance across the business with a higher level of retained, predictable income that better covers the base costs of the business while allowing us to successfully close the harder to forecast material deals which will drive out-performance.
As a new management team we have taken some important strides in the last year and I believe we now have a solid platform to build upon.'
Source: Getech
