• Total revenue up 6.9% to €133.2m, subscription revenue up 6.6% to €69.9m
• Gross profit margin improved to 75.4%, EBITDA more than doubled to €20.2m
• Statutory net loss after tax reduced by 57.8% to €5.8m

FINEOS Corporation Holdings PLC, a leading provider of core systems for life, accident and health insurance (LA&H) carriers globally, has announced its financial results for the full year ended 31 December 2024 (FY24). Total revenue increased 6.9% to €133.2 million, driven by a 6.6% increase in subscription revenue to €69.9 million. Gross profit margin improved by 4.6 percentage points to 75.4%, and EBITDA more than doubled to €20.2 million, with EBITDA margin rising to 15.2%. The company reported a statutory net loss after tax of €5.8 million, a 57.8% improvement on the prior corresponding period. FINEOS continues to focus on operational efficiency, with a range of initiatives contributing to the margin improvements. The company achieved several key operational highlights in FY24, including the successful go-live of FINEOS AdminSuite at Guardian Life and the launch of voluntary benefits at New York Life - Group Benefit Solutions. FINEOS also completed the rewrite of its New Business & Underwriting product as a cloud-native SaaS offering, and its Absence for Employers product went live with two large US employers. The company remains optimistic about its growth prospects, with a strong pipeline and continued positive interest from clients in upgrading to the FINEOS Platform.

FY25 (1 January - 31 December) revenue guidance in the range €138m - €143m. FINEOS expects to achieve positive free cash flow in FY25 and to be cash generative thereafter.

FINEOS expects its subscription fees to increase as a percentage of total revenues to 65% in FY27 and 75% in FY29. R&D investment is expected to decrease as a percentage of total revenue to 30% in FY27 and 25% in FY29. Gross margin will increase to 75% in FY27 and 80% in FY29, while EBITDA will increase to 25% in FY27 and 40% in FY29.