PCI Pal’s FY25 results show an excellent H2 25 revenue and ARR performance, robust operational progress, and a confident outlook that leads us to reiterate our FY26E and FY27E forecasts. In H2 25, new customer wins, upsells with existing customers, and excellent progress converting contracts in deployment, drove ARR growth of +25% yoy to £19.3m or record yoy or hoh ARR increases. Recurring revenue grew +27% yoy to £20.5m or 91% of group revenue, which drove FY25 revenue growth of +25% yoy to £22 ....
