ActiveOps shares slump as lowers outlook amid major contract loss

ActiveOps PLC on Monday warned financial 2028 revenue and earnings will be significantly below market expectations after the loss of a major contract.

The Reading, England-based provider of decision intelligence software for service operations said it has been notified by a major customer that it does not intend to renew its contract when it falls due next March. This reduces previously anticipated FY28 revenue by around £3.8 million.

"Whilst notification of this non-renewal has only just been received and details are yet to be formally agreed, the board has adopted a prudent approach and removed the associated revenue in full from its FY28 expectations," the firm said in a statement.

As a result, ActiveOps expects FY28 revenue and adjusted earnings before interest, tax, depreciation and amortisation to be "significantly" below market expectations reflecting both the potential customer loss and lower new business activity in the first half of financial 2028.

The firm put consensus for the financial year ended March 31 2028 for revenue at between £50.0 million to £56.4 million, adjusted Ebitda of £6.7 million to £9.0 million and cash of £26.0 million to £41.4 million.

In response, shares in ActiveOps plummeted 47% to 119.75 pence each in London on Monday morning.

Trading in the first half of financial 2027 is in line with expectations, the firm said. Revenue rose 21% to £25.3 million from £20.8 million, including a one-off £1.5 million termination receipt. Expectations for the financial year ended March 2027 remain

unchanged.

ActiveOps said consensus for the financial year ended March 2027 are for revenue of £47.4 million to £49.7 million, adjusted Ebitda of £5.0 million to £6.4 million and cash of £25.2 million to £31.6 million.

In the financial year ended March 2026, the company reported revenue of £45.0 million, adjusted Ebitda of £4.3 million and cash of £23.8 million.

Executive Chair, Richard Jeffery, said: "While the potential non-renewal by a major customer is a setback to our near term revenue growth, we remain strongly cash generative, with a robust balance sheet and a growing, global opportunity."

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