• Delivered unaudited underlying EBITDA of $11M in FY25
• Achieved revenue of $102.4M, reflecting focus on Cyber Security and Managed Services
• Managed Services business returned to profitability after multi-year turnaround

Spirit Technology Solutions Ltd ('Spirit'; ASX:ST1) has provided a trading update for its FY25 performance, reporting unaudited underlying EBITDA of $11.0 million and revenue of $102.4 million. This represents a significant improvement from FY24, where the company achieved $1.7 million in underlying EBITDA and $90.9 million in revenue. The FY25 results reflect Spirit's successful restructuring and turnaround efforts, with the Managed Services business segment returning to profitability after a multi-year turnaround. The company's Cyber Security and Communication and Collaboration segments also delivered strong results, with uEBITDA margins of 23% and 17% respectively. While Spirit's turnover of $147.4 million was slightly below the guidance range, the company maintained a disciplined cost base, achieving an 11% uEBITDA margin. The company continues to evaluate acquisition opportunities and plans to supplement its organic growth in FY26. Despite some first-half headwinds in the Communication and Collaboration segment, and ongoing investment in systems integration and restructuring, Spirit has delivered on its FY25 earnings guidance and expects substantially improved performance in the next financial year as integration efforts take full effect.

Spirit expects to provide FY26 guidance in August 2025.

Building on FY25 momentum, the Group enters FY26 with a leaner operating model, an integrated platform and a clear focus on margin expansion. Strategic initiatives are underway to consolidate gains across Cyber Security and Managed Services, and drive additional recurring revenue streams.