Fonix’s 1H25 trading update shows +7% gross profit growth, +7% adjusted EBITDA growth, a special DPS of 3p, and a confident outlook that leads us to conservatively reiterate our FY25 and FY26 forecasts. Gross profit growth of +7% to £9.8m reflects continued growth across both mobile payments and messaging, or at least mid-single digit gross profit growth in both the UK and Rest of Europe, and firm control of costs has driven adjusted EBITDA growth of +7% to £7.8m. Operationally, Fonix has contin ....
