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essensys PLC on Thursday said it has returned to profitability as planned in 2025, with full-year performance forecast in line with guidance. The London-based software and cloud service provider for the flexible workspace industry said it expects £19.2 million in revenue for the year that ended July 31, reduced from £24.1 million a year before. Company-cited consensus estimated £20 million in revenue. In a trading statement, essensys attributed the sales slowdown to customer churn in its platform and network business, and said it is working on account management to reduce churn in future. Still, the company emphasised that adjusted earnings before interest, tax, depreciation and amortisation have returned to a profit of £1.3 million, swinging from a £900,000 loss in financial 2024. This is slightly below market expectations for adjusted Ebitda of £1.5 million, essensys noted. The firm’s cash balance was £1.8 million at July 31, compared to £3.1 million on-year, and market consensus of £2 million. essensys shares were down 2.4% at 20.99 pence on Thursday afternoon in London and have fallen 35% in the last 12 months. elumo, a management platform for operators of rented office space, is the company’s latest offering, and has made its first sales in the UK, US and Australia since the end of July. essensys noted progress in transitioning to a software-as-a-service model, having closed 10 data centres in financial 2025 as planned. Two more sites are slated for closure in the new year, with annualised cost savings estimated at £1.5 million. ‘We are confident that essensys is well positioned to be the trusted software and technology partner for the industry’s long-term growth,’ commented Chief Executive James Lowery. ‘With initial elumo contracts signed, a strong pipeline across key markets and a clear focus on strategic customers, we enter the new financial year with confidence in our ability to build on this momentum.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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