Big Technologies (LON: BIG), which designs electronic monitoring tags for criminal-justice clients under its Buddi brand, said mediation with founder Sara Murray over the so-called SM Proceedings ended today without a settlement, and that it will resume full litigation against her.
Shares in the AIM-listed company closed Friday at 97.8p, down 0.2% on the day, within a 52-week range of 56.171p to 114.5p. The market has not yet opened for trading today, so shares have not yet had the chance to react to this morning’s announcements.
The litigation update landed alongside interim results showing revenue up 6% at constant currency to £26.9m and adjusted EBITDA, earnings before interest, tax, depreciation and amortisation, up 14% to £14.2m. The group returned to a statutory operating profit of £9.1m, reversing a £27.1m operating loss a year earlier. Management said the Board is now confident full-year performance will come in marginally ahead of consensus, which stands at £51.1m revenue and £25.3m adjusted EBITDA across five analyst forecasts.
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Cash fell to £67.1m from £96.7m a year earlier after Big Technologies paid £33.4m toward settling the separate Buddi Litigation, a shareholder claim resolved in January for £38.5m. That claim is now closed, but the SM Proceedings are not: legal fees provided against the case fell to £0.6m from £4.3m, yet no recovery from Murray has been booked, leaving the cost and outcome open-ended.
Charles Lewinton, Acting Chief Executive Officer of Big Technologies, said: “I am delighted with the continued progress made by the Group in the first half of 2026. We have continued to perform strongly and are exceptionally well positioned in the electronic monitoring industry to accelerate growth in future periods.”
The company said its preferred outcome remains a negotiated settlement with Murray, but with mediation now exhausted, the dispute returns to the courts with no fixed timetable for resolution.
