Finseta has swung to a £1.1 million net loss for 2025 after aggressive expansion into Dubai, Canada and corporate banking consumed resources faster than revenue could grow. The AIM-listed FX and payments firm reversed a £1.0 million profit from 2024, while adjusted EBITDA collapsed to £0.2 million from £2.0 million. Revenue climbed just 9% to £12.4 million, a sharp deceleration from prior-year growth of 26%, as operating costs surged to £8.9 million from £6.3 million.
Cash drained to £1.5 million from £2.6 million, pushing the group into net debt of £0.3 million. Customer additions stalled in the second half despite reaching 1,101 active accounts. The corporate card product faltered badly, triggering a £0.2 million impairment after supplier problems and weak demand, with an additional £0.1 million provision against partner funding that may need repayment if volume targets miss in 2029. Post-period, Finseta raised £0.9 million at 8.5 pence per share.
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FXnCO Insight
** Traders should monitor whether management can convert corporate client wins into margin recovery before cash reserves deplete further amid stalled customer momentum.
Source: Finance Magnates