No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Big Technologies said on Monday that mediation with founder and former chief executive Sara Murray had ended without a settlement, as the electronic monitoring specialist also reported a return to statutory profit and said full-year trading should come in marginally ahead of expectations.
The dispute stems from investigations launched last year into Murray, who founded Big Technologies but was dismissed as chief executive in March 2025 after being accused of hiding interests in, or relationships with, a number of shareholding entities when the company floated in 2021.
"The company's preferred outcome for the SM Proceedings remains for a settlement, whether mediated or otherwise. However, in the absence of meaningful settlement discussions, the company will continue to litigate the SM Proceedings," Big Technologies said in a statement.
Revenue for the six months to 30 June rose to £26.9m from £24.8m, representing constant-currency growth of 6%, while annual recurring revenue increased 5% to £53.2m.
Adjusted EBITDA rose 14% to £14.2m, with the margin widening to 53% from 50%, while adjusted free cash flow increased to £9.6m from £6.7m.
The group swung to a statutory operating profit of £9.1m from a £27.1m loss a year earlier, which had been heavily affected by provisions and costs linked to another legal matter.
Looking ahead, the board said it now expected 2026 performance to be marginally ahead of market expectations. Analyst consensus compiled by the company points to revenue of £51.1m and adjusted EBITDA of £25.3m.
Acting chief executive Charles Lewinton said: "We have continued to perform strongly and are exceptionally well positioned in the electronic monitoring industry to accelerate growth in future periods."
See the latest RNS on Investegate.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.