Big Technologies (LSE:BIG) reported a 12% rise in annual recurring revenue to £52.4m for 2025, while revenue increased 3% year-on-year at constant currency to £49.7m. Excluding the termination of a significant contract in Colombia, revenue growth would have reached 9%. Adjusted EBITDA fell to £24.6m, reflecting shifts in margin mix and increased management investment. On a statutory basis, the group recorded an operating loss of £23.0m and a loss per share of 8.0p, driven partly by exceptional legal and foreign exchange costs. Despite this, the company maintained a strong cash position of £93.4m, even after completing a sizeable litigation settlement shortly after the year-end.
During the year, the company restructured its leadership team and significantly expanded its presence in the United States. Big Technologies secured 16 new contracts spanning 10 U.S. states, pushing U.S. annual recurring revenue up by 40%. Deployment of its Alcotag alcohol monitoring devices also increased sharply, rising 274% to 1,664 units. The group introduced its AlcoBreath device and continued advancing its AI-powered Eagle monitoring platform. In partnership with Sonda SA, it also won a seven-year contract with Chile’s Gendarmerie, expected to generate around $26m, reinforcing the company’s foothold in the growing electronic offender monitoring market despite a year characterised by boardroom changes and legal disputes.
The company’s outlook is supported by strong underlying financial quality, including solid profitability and a balance sheet with minimal leverage. However, recent declines in revenue and free cash flow weigh on the near-term picture. From a technical perspective, the share price trend remains positive, though indicators such as RSI and stochastic readings suggest the stock may be overbought. Valuation metrics remain less supportive given the negative P/E ratio and absence of dividend yield data.
More about Big Technologies PLC
Big Technologies plc is an AIM-listed UK company specialising in electronic monitoring technologies for the criminal justice sector, operating primarily through its Buddi brand. The business provides integrated hardware and software solutions on a subscription-style model, delivering monitoring tools such as tracking tags and alcohol monitoring devices to government and justice agencies in multiple regions. Its scalable platform is designed to support a range of offender management and monitoring programmes worldwide.
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