• Sales revenue increased 22% to $8.3m in FY25
• Adjusted EBITDA improved 32% to $(2.9)m
• Loss after tax reduced 7% to $(4.7)m

Felix Group Holdings Ltd (ASX: FLX) has reported unaudited management accounts for the financial year FY25, showing a 22% increase in sales revenue to $8.3m and a 32% improvement in Adjusted EBITDA to $(2.9)m. The growth in revenue was driven by strong sales momentum for Felix's enterprise procurement management platform, which increased 31% to $6.4m in FY25. This was supported by new customers, including SRG Global Ltd (ASX: SRG), Karara Mining Limited and Bellevue Gold (ASX: BGL), as well as a record 23 expansions of existing customer contracts. Marketplace subscription revenue remained stable in FY25, in line with the company's expectations and its Contractor led growth strategy. FY25 Adjusted EBITDA improved $1.4m to $(2.9)m relative to FY24 as a result of sales growth and flat operating expenses. During the period, subscription costs increased $0.2m in FY25 as a result of increased hosting and license fees to support an increase in customers, but this was offset by a decrease in Consultant fees of $(0.2)m due to a reduction in the headcount in the Manila back office. Contract costs, Employee Benefits and Insurance in FY25 were all broadly in line with FY24. The loss after income tax expense for the year improved 7% to $(4.7)m.