Bytes

Bytes (BYI) 1H25 – Results Snapshot

Diluted HEPS increased by 19.9% y-y to 12.19 pps (pence per share).
Gross invoiced income increased by 13.7% y-y to £1 230m driven by 15.6% y-y growth in Software sales.
Revenue declined by 3.0% y-y to £105m. The strong growth in Software was offset by the 48.3% y-y decrease in Hardware revenue.
GPM increased from 69.3% to 77.9%.
OPM improved from 28.2% to 33.8%.
Expenses increased by 4.0% y-y to £47m. Expenses to revenue rose from 41.1% to 44.1%.
Dividend of 3.1pps.
Cash from operating activities increased by 43.0% y-y to £18m.
No interest-bearing debt. Cash on hand increased to £72m.