• Subscription revenue up 8.2% to €75.6m, representing 54.6% of total revenue
• EBITDA up 50.1% to €30.4m, with EBITDA margin increasing to 21.9%
• Positive free cash flow of €6.4m, with no debt

FINEOS Corporation Holdings Plc reported its FY25 results, demonstrating strong operating momentum and positive free cash flow. Total revenue increased by 3.9% to €138.4m, with subscription revenue growing 8.2% to €75.6m and representing 54.6% of total revenue. The company's EBITDA increased by 50.1% to €30.4m, with the EBITDA margin expanding to 21.9% from 15.2% in FY24. FINEOS also achieved positive free cash flow of €6.4m, with no debt on the balance sheet. The company's operational highlights include strong partnerships with system integrators, increasing client self-sufficiency, and significant momentum in go-live activity, with an average of 2 clients per month in 2025. FINEOS also won 4 new North American carriers and demonstrated leadership in the North American Employee Benefits market. The company continues to invest in R&D, with a focus on embedding AI capabilities in its secure cloud-native platform. FINEOS also made progress in its internal strategies, including the use of AI to drive operational efficiencies. Looking ahead, the company is guiding for revenue between €147m and €152m in FY26, supported by a strong pipeline and locked-in revenues from existing clients. FINEOS is also aiming to further increase the proportion of subscription revenue, improve profitability, and grow cash generation in the coming years.

Revenue is guided to be between €147m - €152m in FY26, supported by strong pipeline and locked-in revenues with many existing clients. FINEOS aims to continue driving operational efficiencies, grow profitability and cash generation, and expand its presence in the North American Employee Benefits market.

FINEOS is aiming to increase subscription fees as a percentage of total revenues to 65% in FY27 and 75% in FY29, decrease R&D investment as a percentage of total revenue to 30% in FY27 and 25% in FY29, retain gross margin at 75% in FY27 and increase it to 80% in FY29, and increase EBITDA to 25% in FY27 and 40% in FY29.