Elixirr International plc reported first-half revenue of £89.0 million, up 25% from £71.4 million a year earlier, with adjusted EBITDA rising 29% to £27.6 million and the margin expanding 100 basis points to 31.0%, during results presented on September 23, 2026.
Revenue per partner doubled over six years to £4.4 million in FY 2025, up from £2.2 million in FY 2019, the company said. Cross-sell revenue grew 27% to £19 million in the half, bringing total cross-sell since its 2020 AIM IPO to more than £100 million.
Artificial intelligence–related revenue surged 185% to approximately £8 million, representing roughly 9% of total revenue. The firm has executed more than 20 client implementations of Elixirr OS, its proprietary agentic AI platform launched during the period, citing efficiency gains including an eightfold acceleration in CRM record matching and a reduction of project reporting time by 32 hours across an eight-week engagement.
Boston Consulting Group estimates agentic AI services represent a $200 billion opportunity over the next five years, Elixirr CEO Stephen Newton noted during the presentation.
Organic growth at constant currency came in at 5%. A revenue bridge for the half showed a £1.6 million foreign-currency drag from USD/GBP weakness, a £12.1 million decline in programme completions, a £7.6 million contribution from existing clients, an £8.0 million addition from new clients and a £15.7 million boost from acquisitions, led by the full half-year contribution of TRC Advisory and January acquisition Kvadrant Consulting — Elixirr’s ninth deal since its 2020 IPO.
Adjusted profit before tax grew 25% to £25.1 million and diluted EPS rose 18% to 34.2 pence. Free cash flow was £1.8 million, down from £7.9 million in H1 2025, and net debt rose to £56.5 million as of June 30 from £24.1 million at FY 2025 year-end, leaving £18.3 million of headroom on the revolving credit facility. Dividends of £3.7 million were paid in the half.
Accounts generating more than £1 million in trailing-twelve-month revenue rose 13% to 35, while those above £2 million jumped 50% to 24. Thirty percent of employees are now at principal level or above.
Shares in Elixirr rose 3.88% to $505.9 following the presentation. The stock trades 43.7% below its 52-week high of $898, at a P/E of 16.07 and an EV/EBITDA multiple of 7.06. It maintains a 4.64% dividend yield supported by six consecutive years of increases.
From FY 2022 through August 2026, Elixirr delivered 135% revenue growth compared with a 25% average for FTSE 100 companies, though its share-price return of 8% lagged the FTSE 100’s 51% return over the same period, the company acknowledged.
Founded by Newton, Elixirr moved to the Main Market in FY 2024 at a £325 million market capitalisation from a £98 million valuation at its 2020 AIM listing. FY 2025 revenue run rate reached £149.6 million, with revenue and EBITDA compound annual growth rates of 38% and 35% respectively between 2020 and 2025.
