TPXimpact Holdings PLC (AIM: TPX), a leading digital transformation partner to the UK public sector, has reported record interim results for the six months ended 30 September 2026, with revenue rising 60% year-on-year to £57.9m. The group also eliminated net debt during the period, moving to a net cash position of £1.0m well ahead of previous expectations. New business wins of £86m were secured in the half, underpinned by significant central government contract awards. Full-year guidance has been reaffirmed, with revenue of at least £105m and adjusted EBITDA of at least £14m targeted for the year ending 31 March 2027.

Key Points

  • TPXimpact Holdings PLC (AIM: TPX) — UK public sector digital transformation provider
  • Record H1 revenue of £57.9m, up 60%, with adjusted EBITDA rising 152% to £8.0m for the six months ended 30 September 2026
  • Net debt of £4.2m at the start of the period converted to net cash of £1.0m by 30 September 2026, the first debt-free position since 2019
  • Investors may be watching full-year guidance delivery and the Board's forthcoming capital allocation review as cash reserves grow

Record Revenue and 152% Adjusted EBITDA Growth Driven by Public Sector Demand

TPXimpact's H1 results show revenue reaching £57.9m (H126: £36.2m), a 60% year-on-year increase, with approximately 94% generated from public sector clients and central government accounting for around 70% of turnover. Adjusted EBITDA climbed 152% to £8.0m, lifting the adjusted EBITDA margin to 13.9% from 8.8% in the prior period. The group swung to a reported operating profit of £3.5m from a loss of £1.1m in H126. Adjusted diluted earnings per share rose to 5.6p from 1.7p, while operating cashflow increased to £6.2m from £2.5m, reflecting strong conversion of profits into cash.

£86m New Business Wins Include Ministry of Justice, HM Land Registry and HM Prison and Probation Service

The announcement states that £86m of new business was signed during the first half, compared with £31m in H126 and £122m across the whole of the prior financial year. Major contract wins included a £16m two-year agreement with the Ministry of Justice, a £19m uplift and one-year extension with HM Land Registry as its primary Digital, Data, and Technology Delivery Partner, a £25m three-year contract with HM Prison and Probation Service, and a £5m two-and-a-half-year contract with the British Library. The remaining £21m comprised smaller wins and extensions with existing and new clients.

Debt Eliminated for First Time Since 2019 as Balance Sheet Strengthens

TPXimpact repaid all outstanding borrowings during the period, moving from net debt of £4.2m at 31 March 2026 to net cash of £1.0m at 30 September 2026 — the first time the group has been debt-free since 2019. The group retains a revolving credit facility of £11m alongside a £5.5m accordion and a £4m overdraft facility. The announcement states that the Board intends to review its capital allocation policy and forward growth plans as cash reserves continue to build through the second half and into the next financial year.

Full-Year Guidance Reaffirmed at Minimum £105m Revenue and £14m Adjusted EBITDA

TPXimpact has reaffirmed full-year guidance in line with an upgrade issued on 15 October 2026, targeting revenue of at least £105m and adjusted EBITDA of at least £14m for the year ending 31 March 2027. The company notes that trading in October remained strong. With over 90% of its client base representing public services and approximately 70% of H1 revenue derived from customers with at least three years' tenure, the group's revenue visibility is supported by long-term relationships. Headcount including associates rose 15% to 806, and employee retention improved to 86%, factors the company identifies as central to sustaining delivery momentum.