Elixirr International flags better-than-expected 2024 results

(Sharecast News) - Elixirr International reported a strong performance for the financial year ended 31 December in a trading update on Tuesday, with results set to exceed market expectations. The AIM-traded firm said revenue was projected to surpass £111m, exceeding the company's guidance range of £108m to £111m.

Adjusted EBITDA was anticipated to be about £31m, with a margin of around 28%, in the middle of the previously indicated range of 27% to 29%.

The consultancy said it had also strengthened its balance sheet, fully repaying debt drawn under its £45m revolving credit facility used to finance the acquisition of Hypothesis Group.

At year-end, cash balances stood at around £7.5m.

The company said it was continuing to meet the 'rule of 40', with the combined sum of revenue growth and adjusted EBITDA margin exceeding 40% every year since its initial public offering.

Momentum had carried into 2025, with January revenue setting a record.

Elixirr said it would release its full-year results for 2024 on 28 April.

At 0939 GMT, shares in Elixirr International were up 8.53% at 840p.

Reporting by Josh White for Sharecast.com.