Finseta plc (LSE:FIN) said first-half 2026 revenue is expected to be approximately £5.4 million, compared with £5.9 million in the same period a year earlier, as macroeconomic conditions affected customer demand and extended sales cycles.

Active customer numbers increased to 1,389 during the period. The company continued to shift its business towards business-to-business customers, with corporate accounts representing 74% of revenue.

Finseta expects its gross margin for the first half to be approximately 66%. However, the change in customer mix, planned strategic investment, disruption related to conflict in Dubai and the withdrawal of a currency corridor contributed to an adjusted EBITDA loss for the period.

The company now expects full-year 2026 revenue of approximately £11 million.

Dubai revenue increases as regional disruption affects activity

Finseta reported that revenue from its Dubai operations increased 243% year on year. However, the company said regional conflict constrained activity during the period, resulting in the operation making a lower contribution than internally forecast.

Management said it is maintaining cost discipline as the group continues its strategic transition.

Finseta expects the proportion of revenue generated from corporate customers to increase further during the second half, which management expects to result in an additional improvement in gross margin.

The company is also seeking to replace the provider of a withdrawn currency corridor and expects to restore the affected capabilities through a new provider during the fourth quarter.

Finseta continues transition towards corporate customers

Finseta said its strategic transition is taking longer than originally planned as it increases its focus on corporate customers.

The London-headquartered company provides foreign exchange and payment services, including multi-currency accounts and cross-border payment solutions for businesses and individuals.

Finseta operates a proprietary technology platform and supports payments in more than 150 currencies across over 165 countries. The company operates under regulatory oversight in the UK, Canada and Dubai.