Fadel Partners, Inc. (LON: FADL), the AIM-listed provider of AI-driven brand compliance and royalty management software, reported unaudited revenue of $4.8m for the six months to the 30th of June, up 4% from $4.7m a year earlier.
Shares in the New York-headquartered company last closed at 24p yesterday, near the bottom of a 52-week range of 23p to 65p. FADL is thinly traded, with insiders holding roughly 68% of a market capitalisation of under $5m.
The headline growth figure understates the underlying shift. License and support revenue, the recurring, higher-margin income from software subscriptions, rose 25% to $3.1m, while annual recurring revenue climbed 11% to $9.4m. Declining services revenue, down 19% as an anticipated trend, dragged the total growth rate lower.
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That mix change drove gross margin up 12 percentage points to 61%, from 49% in the first half of 2025, and cut the adjusted EBITDA loss, earnings before interest, tax, depreciation and amortisation, by 53% to $1.1m from $2.4m. Chief executive Tarek Fadel said the results reflect changes made through 2025.
These results demonstrate the benefits of the actions taken during 2025 to simplify the Group’s operating structure, reduce its cost base and focus resources on higher-quality recurring software revenue.
Tarek Fadel, Chief Executive Officer, Fadel Partners
Management maintained, rather than raised, full-year guidance for revenue, EBITDA loss and cash to be in line with market expectations. Cash stood at $1.9m at period end, with an undrawn $1.0m credit facility with Bank of America, renewed through May 2027, supporting the Group’s liquidity.
