Nexteq plc
Nexteq plc (formerly Quixant plc, renamed during the period covered by prior reports) is a UK-incorporated, AIM-listed B2B technology company that enables customers in selected industrial markets to outsource the design, development and supply of non-core aspects of their product offering. It operates through two segments: Quixant, which designs, develops and manufactures gaming computer platforms, monitors and turnkey cabinets for the land-based casino/slot machine industry; and Densitron (including IDS), which supplies electronic display and HMI (human-machine interface) solutions into industrial verticals such as Medical, Broadcast, Test & Measurement and ProAV. The Group is pursuing a 'OneNexteq' strategy to combine embedded compute, display and HMI capability into integrated subsystems and to grow recurring, IP-based revenue (e.g. the Launchpad gaming software platform).
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 17 Mar 2026 · 163 pages · Companies House
Nexteq, which designs computers and displays for casino slot machines and industrial equipment, grew revenue to $90.2m in 2025 from $86.7m. Profit after tax rose to $1.9m from $311k.
Gaming sales grew as a new largest customer offset a roughly 70% drop in orders from its historically largest customer, which was bought by a private equity firm. Display sales fell. Rising memory chip prices, driven by AI demand, and the loss of that high-margin customer squeezed margins. Profit looks much better partly because 2024 carried a large one-off write-down of an acquired business, and cost cuts also helped. On the company's own measure, which excludes such items, earnings per share fell 28.7%.
Cash at the year end was $25.3m, down from $29.5m, and borrowing was very small. Almost nothing was raised from shareholders, and a higher dividend is proposed. Management expects difficulties to hurt revenue and margins in 2026 and has pushed growth targets back from 2027 to 2028. The auditors gave a clean opinion and flagged no doubt about the company's ability to keep trading.
Quixant gaming hardware unit sales (computers/platforms)
Quixant revenue $60.1m (2024: $54.8m), up 10%, driven by unit sales increasing 18% to 51,247 platforms
page 39DDR4 memory component shortages and price increases
Sharply rising DDR4/DDR5 and SSD costs driven by AI demand were passed through to customers without generating incremental margin on the higher cost base, compressing Quixant gross margin
page 17To have delivered revenue growth in a year in the midst of such external forces, demonstrates the resilience of the Group and the entire Nexteq team.
page 8Progressive dividend policy maintained, supported by healthy operating cash flow and strong cash balance. Proposed final dividend for FY2025 of 3.9p per share (FY2024: 3.7p per share), payable 30 May 2026 to shareholders on the register at 2 May 2026 (ex-dividend 1 May 2026). $2.974m of dividends (3.7p/share, relating to FY2024) were paid and recognised during 2025 (2024: $2.836m).
page 911 years on one page · FY2015–FY2025
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USD millions, negatives in brackets. Per-share lines in cents. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
7 figures restated in a later report
Every figure is read again from the following year’s report: 394 confirmed, 24 differ, 7 restated.
No figure has been restated: every figure a later report printed again, it printed the same.
7 more figures were restated in FY2015 to FY2022, which a free account opens.