Netcall Achieves 20% Revenue Increase to £57.7m with AI Product Sales Tripling in FY26

Netcall’s AI-Enabled Liberty Platform Fuels Profitable Growth Across Public and Corporate Sectors

Operating from the UK, Netcall plc integrates automation and customer engagement within its AI-powered Liberty platform, serving around 700 organisations across healthcare, government, and financial services. Key clients include two-thirds of NHS Acute Health Trusts, half of UK local authorities, and major firms such as Legal & General, Baloise, and Santander. Liberty streamlines processes and customer interactions, reducing complexity and automating critical workflows. This diverse, regulated-sector customer base provides a stable foundation for recurring subscription revenues.

Netcall’s market strategy centers on delivering integrated automation and engagement solutions within a single platform, differentiating it from point-solution providers and enabling cross-selling opportunities. The platform’s versatility across regulated and enterprise environments is evidenced by growth from both existing customer expansion and new client acquisitions during FY26.

Revenue Climbs to £57.7m with 12% Organic Growth Driving Expansion

Netcall projects FY26 revenue of £57.7m, up 20% from £48.0m in FY25. Organic growth, excluding acquisitions such as Jadu Holdings Limited, Smart and Easy NV, and Govtech Holdings Limited, accounted for 12% of this increase. The remaining 8% growth derived from acquisitions, with successful integration of Jadu since its December 2025 acquisition. Growth was fueled by both expanding existing customer relationships and securing new clients across core markets.

This distinction between organic and acquisition-driven growth offers insight into sustainable business momentum, with the 12% organic increase highlighting strong market demand for cloud automation and AI solutions. The combination of organic growth and strategic acquisitions reflects a balanced approach to scaling Netcall’s business.

Adjusted EBITDA Margin Expands to 21%, Demonstrating Strong Operating Leverage

Adjusted EBITDA is forecast to rise 23% to £12.1m in FY26, compared to £9.8m in FY25, with margin expanding from 20% to 21%. Approximately 30% of incremental organic revenue converted into Adjusted EBITDA, showcasing robust operating leverage from subscription revenue growth. This reflects the lower marginal costs of subscription services compared to professional services or licensing. The Jadu acquisition contributed nearly £1.0m in annualized cost synergies, enhancing profitability.

Margin expansion amid investments in AI and acquisitions indicates disciplined cost management and operational efficiency. Netcall’s pricing power in regulated sectors and scalable cloud solutions underpin this profitability growth, reinforcing the Liberty platform’s maturity and market acceptance.

Cloud Annual Contract Value Surges 37%, Accelerating Recurring Revenue Shift

Cloud Annual Contract Value (ACV) grew 37% to £46.3m in FY26 from £33.9m in FY25, with 24% organic growth. Total ACV increased 27% to £53.7m from £42.2m, driven by new customer wins and existing clients expanding Liberty subscriptions. The distinction between Cloud ACV and total ACV reflects revenue from cloud subscriptions and other delivery models. The strong Cloud ACV growth strengthens recurring revenue and future revenue visibility.

The 24% organic Cloud ACV growth outpaces overall organic revenue growth, indicating faster expansion of cloud offerings compared to legacy products. Cloud ACV now represents 86% of total ACV, highlighting Netcall’s shift towards predictable, recurring cloud subscriptions, which typically yield higher customer lifetime value and enterprise valuation multiples.

AI Product Sales Triple as Customers Move from Pilots to Full Deployment

AI product sales nearly tripled in FY26, with AI features included in over 40% of new Cloud orders. This reflects a shift from pilot projects to widespread production deployment of AI-enabled automation and customer engagement workflows. AI is becoming embedded in core business processes, signaling strong customer recognition of its business value.

This surge in AI adoption positions Netcall’s AI capabilities as a significant revenue driver and retention factor. The integration of AI within Liberty fosters customer dependency and potential upselling to advanced modules. While specific AI product details were not disclosed, the rapid sales growth indicates successful market resonance and potential for continued momentum in FY27.

Jadu Acquisition Integration Yields Cost Synergies and Cross-Selling Benefits

Netcall’s December 2025 acquisition of Jadu Holdings Limited enhanced its digital experience and AI offerings. Integration has progressed smoothly, achieving nearly £1.0m in annualized cost synergies and early cross-sales between customer bases. This validates the strategic rationale and highlights complementary customer portfolios.

The acquisition, funded partly from Netcall’s net cash, reduced net cash from £27.2m to £21.0m after £13.4m in acquisition payments. Management emphasized strong cash generation and balance sheet strength to support ongoing Liberty investments and further acquisitions. Though purchase price and earn-out details remain undisclosed, rapid integration success demonstrates effective inorganic growth execution.

Strong Net Cash Position of £21.0m Supports Investment and M&A Activity

Netcall closed FY26 with net cash of £21.0m, down from £27.2m at FY25-end due to acquisition payments, partially offset by operating cash flow. The company remains highly cash-generative with growing recurring revenues, providing financial flexibility for Liberty platform development and accretive acquisitions.

This balanced capital deployment strategy combines organic innovation, strategic acquisitions, and financial prudence. The positive net cash position offers resilience against market fluctuations and funding for strategic initiatives. While free cash flow and capital expenditure figures were not disclosed, rising Adjusted EBITDA suggests improving cash flow generation. Management prioritizes reinvestment over shareholder distributions, with no dividend or buyback policy announced.

Record Sales Pipeline Entering FY27 Driven by Cloud and AI Demand

Netcall begins FY27 with a record-level sales pipeline fueled by strong demand for cloud automation and AI solutions. This robust pipeline enhances near-term revenue visibility and growth prospects, though specific pipeline metrics were not provided. Management’s confidence reflects optimism about sustaining growth momentum despite broader market uncertainties.

CEO James Ormondroyd reaffirmed commitment to Liberty platform investment, customer expansion, and selective acquisitions, signaling continued focus on both organic and inorganic growth. While no forward guidance was given, the strong pipeline and strategic focus suggest positive expectations for FY27 results, pending full-year disclosures.

Market Expectations Align Closely with Netcall’s Trading Update

Consensus forecasts for FY26 estimated revenue at £57.6m, Adjusted EBITDA at £12.0m, and net cash at £20.4m. Netcall’s anticipated results of £57.7m revenue, £12.1m Adjusted EBITDA, and £21.0m net cash slightly exceed these estimates, indicating performance in line with analyst expectations and market conditions.

The close alignment reduces downside risk and suggests accurate market guidance. All figures remain subject to audit, with final results expected to confirm management’s estimates. The announcement, deemed inside information prior to release, complies with Market Abuse Regulation requirements. Investors should consider these unaudited figures as indicative pending full financial statements.