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Big Technologies PLC on Monday said 2026 has started well, with a new contract win, as it looks to put a litigation disrupted year behind it. f The Rickmansworth, England-based electronic monitoring solutions provider reported a pretax loss of £20.5 million in 2025, swung from a £2.2 million profit the year prior. This included a GB38.5 million provision for settlement of the ’Buddi litigation’ compared to nil the year prior, and £8.1 million of legal costs, down rom £9.0 million. In January, post the financial year-end, Big Technologies said it had agreed to pay £38.5 million to settle a long-running lawsuit linked to its 2018 acquisition of Buddi Ltd. The settlement represents a ‘full and final’ resolution of claims brought by a group of former Buddi shareholders, who alleged they were wrongly forced or induced by misrepresentation to sell their shares at the time of Buddi’s acquisition and were not given the opportunity to reinvest in Big Technologies, the firm explained. On Monday, Big Technologies said the settlement removes uncertainty and reduces ongoing legal spend. In addition, Interim Chair Sangita Shah, who was appointed last October, said efforts continue to settle the litigation with founder and former chief executive Sara Murray. Murray was suspended as CEO last March owing to ‘concerns’ about her conduct. Later that month she was fired and legal proceedings were started against her. Adjusted earnings before interest, tax, depreciation and amortisation fell to £24.6 million in 2025 from £27.0 million the year before, in line with January’s trading statement. The drop reflects a change in margin mix, and investments made in strengthening the group’s management, the firm explained. Last May, Big Technologies appointed Ian Johnson as new CEO, with Mike Johns joining as chief financial financial officer at the same time. Annual recurring revenue increased 12% at constant currency to £52.4 million from £46.8 million the year prior. Revenue grew 3.3% at constant currency to £49.7 million from £48.1 million. After what he called a ‘turbulent’ year, CEO Johnson said organisational changes are ‘beginning to deliver strong growth for the business.’ He pointed to 16 new wins across 10 US states in the last six months and the award in January of a contract with the gendarmerie in Chile. The contract is for an initial period of 7 years with total revenues expected to be around $26 million. ‘The group has started 2026 well, supported by a number of new contract wins, and we look to the future with confidence,’ Johnson added. The firm expects performance in 2026 will be in line with market expectations and that new contracts won will deliver further growth in 2027 and beyond. Shares in Big Technologies rose 4.1% to 86.37 pence each in London on Monday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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