AIM-listed payments firm Finseta reported first-half revenue fell 8.5% to £5.4 million on Tuesday, while adjusted EBITDA swung to a £1 million loss from a £300,000 profit a year earlier. Despite active customers climbing 26% to 1,389, revenue per customer plunged nearly 28% to roughly £3,888, down from £5,359 in the first half of 2025. The company blamed macroeconomic headwinds across key markets that reduced customer demand and extended sales cycles.
Corporate accounts now drive 74% of revenue, up from 58%, helping lift gross margin to 66% despite the overall revenue decline. Dubai expansion delivered 243% revenue growth but fell short of targets due to Middle East conflict. The company’s strategic investments in Canada and corporate banking capabilities, combined with weaker top-line performance, pushed profitability into negative territory. Finseta projects full-year 2026 revenue around £11 million, approximately 11% below 2025 levels.
FXnCO Insight
Traders should watch for further pressure on payments sector valuations as customer acquisition costs rise while per-client monetization deteriorates.
Source: Finance Magnates