• Closing cash balance of €35.4m, up from €19.8m
• Cash receipts from customers up 40% year-on-year and 111% quarter-on-quarter
• FINEOS AdminSuite in full operation at Guardian and New York Life

Fineos Corporation Holdings Plc (ASX:FCL), a leading provider of core systems for life, accident and health insurance carriers globally, has reported its unaudited quarterly activity report and Appendix 4C cash flow statement for the three-month period ending 31 March 2025 (1Q25). The company's closing cash balance at 31 March 2025 was €35.4m, up from €19.8m at 31 December 2024, reflecting the seasonal impact of cash collection as well as underlying growth. Cash receipts from customers were €51.7m, up 40% on the prior corresponding period (pcp) and up 111% on the previous quarter. The FINEOS AdminSuite is now in full and successful operation at both Guardian and New York Life. The North American business pipeline remains healthy, with Fineos the preferred vendor for six small deals for the Absence and Claims product, and two migrations to the FINEOS cloud. These opportunities are expected to lead to future higher subscription and services revenues. The company expects to generate positive free cash flow (FCF) in aggregate for FY25 and be self-funded thereafter. Product Consulting employee utilisation rate year-to-date average of 87% at 31 March 2025, up slightly from the pcp equivalent average of 83%. Fineos is also excited to participate in the upcoming Shaw and Partners hosted TechRise Conference in Sydney and the FINEOS Customer Connect event in New York City.

Fineos expects to generate positive free cash flow (FCF) in aggregate for FY25 and be self-funded thereafter.

Fineos continues to execute its strategy of helping clients transform their business by migrating from legacy systems to the FINEOS Platform. The company's pipeline with existing and new-name clients remains healthy, and its growth projections remain on track.