Microlise Group plc
Microlise Group plc is a UK-headquartered (Nottingham) AIM-listed SaaS/technology company, founded in 1982, that provides transport and logistics technology solutions including transport management systems (TMS), journey management, fleet compliance, fleet safety, driver connected mobility and planning/optimisation software, delivered via its Microlise One platform. Revenue is generated from per-user/per-asset software subscriptions, hardware (GPS/telematics/camera devices) and professional services, serving over 2,500 customers worldwide via operations in the UK, France, Australia, New Zealand and India (800+ employees).
6 annual reports read, FY2020 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (6)
FY2026Next report expected 16 Apr 2027
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Microlise Group plc, which sells software and tracking equipment that help businesses run lorry and van fleets, grew revenue by 5.7% to £84.0m in 2025. It still made a loss after tax of £2.2m, slightly wider than the £2.1m loss the year before. The report blames weaker sales to vehicle and equipment makers, which were hit by tariffs and soft demand, and customer projects delayed after a cyber attack in October 2024. One-off redundancy costs from cutting more than 100 jobs also weighed on profit. Insurance money received for the cyber attack partly offset them. The company ended the year with £16.7m in cash, up from £11.4m, and no borrowings. It raised its dividend for the year to 1.9p a share. Management expects the job cuts to save about £5m a year from 2026. But it warned that 2026 sales will be slightly below what market analysts expect, with sales to vehicle makers falling. The auditors gave a clean opinion and raised no doubts about the company's ability to keep going. One customer provided 25% of revenue.
From the reportevery line sits on the page it namesWhat drove revenueRecurring SaaS/managed-service subscriptions (per-user/per-asset licensing)
Managed service agreement income £52.9m of £84.0m total revenue; ARR £59.2m, +4.6% YoY
page 20AndDirect customer growth and cross-sell/up-sell of Microlise One modules (e.g. TMS)
Direct customer recurring revenue grew 16% in FY25; 417 new customers added (FY24: 375)
page 16What moved the margintailwindRevenue mix shift toward higher-margin direct/recurring customer business vs OEM
Direct customer business delivers 'higher quality, higher-margin growth'; OEM volumes (lower margin, non-recurring heavy) declining
page 17AndtailwindRestructuring/cost reduction programme
£5m annualised cost savings from headcount reduction of 100+ FTEs, mostly in operations rather than go-to-market
page 4What management saidTrading in Q1 FY26 is in line with Board expectations; FY26 OEM revenues expected below FY25; as a result of accelerated investment and a challenging market environment, FY26 revenues are expected to be slightly below current market expectations and adjusted EBITDA at the lower end of current market expectations
page 4After the year endDuncan McCreadie, former Chief Technology Officer, retired in April 2026 (after the 31 December 2025 year end) after ten years of service; Dean Garvey-North (joined November 2025) assumed full CTO responsibility from 1 January 2026
page 18The dividendProgressive dividend policy; FY25 interim dividend of 0.60p paid 7 November 2025; proposed FY25 final dividend of 1.30p per share (FY24: 1.24p), payable 24 July 2026 to shareholders on the register at 3 July 2026, subject to AGM approval
page 4Going concern and the auditUnmodified ('true and fair') audit opinion from BDO LLP (Alan Walsh, Senior Statutory Auditor); sole key audit matter was fraud/error risk in revenue recognition, on which auditors found no instances of inappropriate recognition. Directors prepared accounts on a going concern basis based on working capital forecasts to December 2027, £16.7m year-end cash, no borrowings, and a £10m undrawn RCF (plus £20m accordion) with HSBC; sensitivities modelled including reduction in turnover from principal customer concluded scenario requiring additional funding is remote
page 86The risks it names firstRead from C000841-AR-2025-ch.
- FY2022Year to 31 Dec 2022 Opens with a free accountThe report, its reading and its figures
- FY2021Year to 31 Dec 2021 Opens with a free accountThe report, its reading and its figures
- FY2020Year to 30 Jun 2020 Opens with a free accountThe report, its reading and its figures