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Highlights

  • IDOX’s revenue surged 19.5% YoY to GBP 87.6mn in FY24
  • FY24 net profit dipped 5.9% YoY to GBP 5.25mn due to higher tax charges, despite cost control and revenue stability
  • The company entered FY25 with GBP 566mn in contracted revenue and GBP 1.03bn in total pipeline
  • Looking ahead, the group remains focused on enhancing its EBITDA margin, aiming for a long-term target of 35%

Idox PLC (LSE: IDOX), headquartered in the United Kingdom, provides specialised information management software and geospatial data solutions tailored to public sector organisations and asset-heavy industries.

For the financial year 2024 (FY24), Idox reported revenue growth of 19.5%, reaching GBP 87.6 million compared to GBP 73.3 million in FY23. This increase was largely driven by the performance of the LPPP division and the full-year benefit of the Emapsite acquisition.

Adjusted EBITDA for the period rose by 6.5% YoY to GBP 26.1 million, up from GBP 24.5 million in FY23. This improvement was supported by the integration of recent acquisitions, changes in product mix, and ongoing operational efficiencies.

While profit for the year declined slightly by 5.9% YoY to GBP 5.25 million mainly due to increased tax charges, the business benefitted from a stable and diversified revenue base as well as stringent cost control measures. As of the start of FY25, Idox enters the year with GBP 566 million in contracted revenue and GBP 1.03 billion in aggregate.

Recent Business Update

Recent developments include the acquisition of Trojan Consultants Limited (Plianz) for up to GBP 7.9 million, fully funded through internal cash resources. The company has also expanded its offshore operations in India and strengthened leadership in geospatial and strategic roles to support scalable and sustainable growth.

Company Outlook

Looking ahead, the group remains focused on enhancing its EBITDA margin, aiming for a long-term target of 35% through cost efficiencies and synergies from recent acquisitions. With cash reserves and access to banking facilities, Idox continues to pursue a disciplined acquisition strategy.

Top 10 Shareholders

The top 10 shareholders of IDOX collectively control approximately 81.1% of the company’s total shares. Octopus Investments Limited is the largest shareholder, holding about 16.37%. Long Path Partners, LP ranks second with a stake of around 12.11%.

Stock Information

Over the past six months, Idox PLC shares have declined by approximately 8.32%, whereas it has gained around 4.24% in the past month. The stock has traded between a 52-week low of GBX 52.00 and a 52-week high of GBX 69.00. Currently, it is trading below the midpoint of its 52-week range with a closing price of GBX 60 as of 28 May 2025.

 Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 28 May 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.