Pathos’s FY25E trading update points to a strong finish for its first period as a listed business, with revenue expected to be up c.16% YoY to $13.2m, 6% ahead of forecasts. Cash collection remained healthy through the year-end, with 94% of 2H25E revenue having either been received or not yet due. We believe the increased focus on securing positions for customers in higher quality media outlets has helped boost revenues, cash collection and therefore profits. Adj EBITDA was up over 50% YoY to $2 ....
