Netcall Revenue Rises 20% but Statutory Profit Falls 31% on Deal Costs, Shares Edge Higher

Netcall (LON: NET), the AIM-listed UK software group behind the Liberty cloud automation platform, reported a 20% rise in full-year revenue to £57.7m, while statutory profit before tax fell 31% to £3.5m. The results, for the year to the 30th of June, came out at 7am today.

In early trading today the shares were about 126p against yesterday’s 125p close. They had closed at 125p for the previous seven sessions, and the 12-month closing range runs from 96p to 137p.

Revenue of £57.7m compares with £48.0m a year earlier and includes 12% organic growth. Jadu, a digital experience platform Netcall bought in December, added £3.8m. Cloud services revenue rose 37% to £40.1m, and recurring revenue is now 83% of the total, up from 80%.

Adjusted EBITDA, profit before interest, tax, depreciation and one-offs that also strips out share-based pay and acquisition items, rose 23% to £12.1m. Adjusted profit before tax rose 19% to £9.9m.

The statutory figure tells a different story. It absorbed £2.3m of post-completion service costs, deal payments to sellers who stayed on, booked as pay, and £2.1m of share-based payments. Group cash fell to £21.0m after £13.7m of acquisition payments; the group has no debt.

Measure	FY26	FY25
Revenue	£57.7m	£48.0m
Adjusted PBT	£9.9m	£8.3m
Statutory PBT	£3.5m	£5.1m
Group cash	£21.0m	£27.2m
Order book	£98.6m	£78.9m

Chief Executive James Ormondroyd pointed to artificial intelligence as a growing sales driver.

AI is becoming an increasingly important sales driver as customers use Liberty to simplify complex service operations and automate more work.

James Ormondroyd, Chief Executive, Netcall

The contracted order book, signed future revenue not yet recognised, is a record £98.6m, with £51.0m due within 12 months. The board said trading since year end is in line with management expectations, without numerical guidance. The final dividend rises 17% to 1.10p, payable on the 8th of February.