Finseta plc (LON:FIN), a Forex and payments solutions company, today reported its interim results for the six months ended 30 June 2025 (H1 2025).

Revenue for the six months to 30 June 2025 grew by 16% to £5.9 million (H1 2024: £5.1m). This growth was primarily a result of an increase in active customers.

Gross margin was 62.7% (H1 2024: 65.7%), with the change compared with the first half of the prior year being due to revenue mix. This lower gross margin was offset by the increase in revenue, with gross profit increasing to £3.7 million (H1 2024: £3.3m).

Operating expenses were £3.9 million for the first half of 2025 compared with £2.8m for H1 2024. This primarily reflects the planned investment in the Group’s new strategic initiatives, which have substantially broadened the Group’s capabilities and are expected to significantly accelerate sales growth and increase profitability in the medium term.

Adjusted EBITDA was £0.3 million (H1 2024: £0.3m) and loss from operations was £0.2 million (H1 2024: £0.6m profit), which reflects the increased expenses.

Loss before tax was £0.3 million in H1 2025 compared with £0.6 million profit for H1 2024. The Group recognised a tax credit of £48,000 compared with a tax expense of £118,000 for the first half of the prior year. As a result, net loss was £0.2 million (H1 2024: £0.5m profit).

Basic and diluted loss per share was 0.37 pence (H1 2024: 0.79 pence earnings and 0.74 pence earnings, respectively).

At 30 June 2025, cash and cash equivalents were £2.4 million (31 December 2024: £2.6m), with net cash of £0.4 million (31 December 2024: £0.6m).

Following the previously announced delays to some payment transactions in H1 2025, the Group has experienced an improvement in its USD-related business as FX rates normalise, albeit, to date, to a lesser extent than previously anticipated. As a result, the Board is taking a more cautious view of the full year and now expects to report year-on-year revenue growth for FY 2025 of c. 11%.