Highlights

  • Accesso expects 2025 revenue of approximately USD 155 million, with cash EBITDA margins approaching 15% and net cash of USD 30 million.
  • The Board plans a GBP 14.5 million tender offer following completion of prior share buybacks representing 7% of issued capital.
  • 2026 performance is expected to meet market expectations, supported by cost alignment, commercial momentum, and ongoing operational efficiency.

Accesso Technology Group PLC (LON:ACSO) has seen its shares recover 7% to GBX 278.60 on 29 January 2026, despite being down 44% over the past year. Today’s share performance is likely to be driven by its trading update ahead of its full-year results for 2025, confirming revenue slightly above market expectations and cash EBITDA margins near 15%. Despite a challenging summer period and adjustments to certain customer contracts, the Group maintains a strong balance sheet and plans a GBP 14.5 million tender offer to repurchase shares. Accesso expects 2026 performance to remain in line with current market forecasts.

Revenue and Profit Overview

For 2025, Accesso expects revenue of approximately USD 155 million, marginally exceeding market expectations. Cash EBITDA margins are forecast to approach 15%, supported by disciplined cost management and operational efficiency. The Group noted some softness in transaction volumes during peak summer months; however, increased service revenues largely offset this.

The company’s cash EBITDA is expected to be in line with 2024 levels, illustrating operational continuity amid market challenges. Net cash at 31 December 2025 was USD 30 million, demonstrating continued cash generation and a stable financial position.

Shareholder Returns and Tender Offer

Accesso has completed its 2025 and early 2026 share repurchase programme, buying back approximately 7% of its issued share capital. Building on this, the Board has announced plans for a tender offer to repurchase up to GBP 14.5 million of shares at a tender price expected to be GBP 3.00 per share.

The decision follows an assessment of the Company’s balance sheet, cash generation, and current share price. Details of the tender offer, including the timetable and terms, will be communicated to shareholders in due course.

Customer Contracts and Commercial Momentum

Accesso confirmed that service delivery for a major customer continued into 2026, with updated commercial arrangements expected to be finalized shortly. Another major customer has opted not to renew its agreement beyond its contractual expiry on 31 January 2026, as anticipated.

Despite these adjustments, the Group entered 2026 with commercial momentum driven by prior-year strategic focus and improved execution. Management has aligned the cost base with market conditions and long-term priorities, supporting cash EBITDA performance and maintaining the Group’s capacity to invest in targeted growth initiatives.

Outlook

Looking ahead, Accesso expects 2026 performance to meet current market expectations, supported by strategic execution, a disciplined cost base, and continued focus on operational efficiency. The Group’s balance sheet and cash flow position provide flexibility to support customers and targeted investments for growth.