AIM-listed Getech, a world-leading locator of subsurface resources, has announced its Final Results for the 12 months ended 31 December 2025.
Highlights
Financial highlights
- Revenue growth delivered, with 7.3% increase to £5.0 million (2024: £4.7 million), including annualised recurring revenue (ARR) of £2.8 million (2024: £2.9 million) reflecting high customer retention, with management's primary focus for 2026 on growing ARR to cover cost base.
- Return to positive EBITDA of £0.5 million (2024: £0.6 million loss) reflecting improved operating performance and structural cost efficiencies. Adjusted EBITDA was £0.6 million.
- Annualised cost base reduced by c. £1.0 million, with savings fully realised from mid-2025 and achieved without compromising core technical capabilities, customer delivery or sales & marketing performance.
- Improving cash generation and liquidity, cash at bank of £0.2 million at 31 December 2025 - following a strong period of receivables in Q1 2026, cash at bank at 31 March 2026 increased to £0.8 million.
- Order book of £3.8 million at year end (2024: £4.1 million), reflecting strong conversion of contracted work to revenue during the year, with £2.5 million expected to unwind into revenue in 2026, providing good future revenue visibility.
Operational highlights
- Sustainable business strategy implemented, resetting the cost base and concentrating resources on core markets of Oil & Gas and Mining, with Natural Hydrogen providing additional upside.
- Sales team significantly strengthened, improving the size, quality and visibility of the commercial pipeline.
- Globe customer relationships reinforced, with multi-year contract renewals announced in May 2025 and March 2026 (with 28% contract uplift value) and customer tenures ranging from three to 15 years.
- Core data and software assets further monetised, including a major release of Unconventionals Analyst, driving 15% growth in its customer base.
- Selective strategic partnerships including joint venture with Sound Energy to explore for natural hydrogen and helium in onshore Morocco, on a capital-light basis.
Current FY and outlook
- Trading momentum has carried into 2026, with unaudited Q1 revenues 5% ahead year-on-year and EBITDA expected to exceed FY2025.
- Primary focus for 2026 is sales execution and building ARR on a path to cost-base coverage, prioritising pipeline conversion, expansion within existing customer relationships and continued Globe deployments.
- Controlled capital allocation, with the Group expecting to fund planned operations organically under its base-case outlook, while retaining financial flexibility to manage normal working-capital.
- Selective exposure to emerging energy sectors, including natural hydrogen and helium, to be pursued on a proportionate and capital-light basis, subordinate to the Group's core cash-generative markets.
Chris Jepps, CEO of Getech, said, 'Against a backdrop of record low oil & gas reserves replacement rates, the recent instability in the Middle East has further highlighted the critical importance of secure global energy supplies and the need to maintain sufficient reserves to mitigate unexpected disruptions - driving renewed demand for high-quality exploration. Getech's solutions remain essential tools in meeting this challenge in pursuit of long-term energy resilience for countries and companies alike.
Looking ahead, our revenue growth priorities are clear. First, we are focused on increasing ARR - to build a more resilient revenue base relative to our cost structure - with robust Globe and software renewals, targeted upsell within our existing client base and the progression of a number of high-value new Globe platform subscription opportunities. Second, we continue to pursue expert services activities that support near-term cash generation while reinforcing long-term subscription relationships. Finally, we are extending our commercial reach through partnerships that broaden market access and enhance our offering, while remaining aligned with our capital-light and disciplined operating model.
With a rebalanced cost structure and improving revenue profile, Getech is in a much stronger financial position. In 2026, we expect this to be reflected in our trading performance through increased revenues and an increase in EBITDA.'
Source: Getech Group
