Cerillion plc (LON:CER), billing, charging and customer relationship management software solutions provider, has announced its interim results for the six months ended 31 March 2026.
Group remains on track to deliver FY26 financial targets
| Results | H1 2026 | H1 2025 | Change |
| New orders1 | £39.6m | £19.6m | +102% |
| Back-order book as at 31 March 20262 | £82.1m | £50.2m | +64% |
| Revenue | £18.0m | £20.9m | -14% |
| Annualised recurring revenue3 | £19.1m | £18.2m | +5% |
| Adjusted EBITDA4 | £6.2m | £10.0m | -38% |
| Statutory EBITDA | £6.2m | £9.9m | -38% |
| Adjusted EBITDA margin | 34.5% | 47.7% | -1320 bps |
| Adjusted profit before tax5 | £5.5m | £9.3m | -41% |
| Statutory profit before tax | £5.5m | £9.3m | -41% |
| Adjusted basic earnings per share6 | 14.1p | 23.9p | -41% |
| Statutory basic earnings per share | 13.9p | 23.8p | -42% |
| Dividend per share | 5.5p | 4.8p | +15% |
| Net cash | £32.5m | £31.2m | +4% |
Financial
| l | New orders more than doubled to £39.6m1 (H1 2025: £19.6m) and included largest ever contract win, secured in Q2. | |
| l | Resultant back-order book increased by 64% to a record £82.1m2 at the period-end (31 March 2025: £50.2m). | |
| l | The phasing of new orders (from new and existing customers) has shaped H1 results; as anticipated, minimal software licence revenue (which is high-margin) was recognised in H1 | |
| – | revenue is down 14% to £18.0m (H1 2025: £20.9m) | |
| – | profitability is significantly lower period-on-period | |
| – | material software licence revenue is expected to be recognised in H2. | |
| l | New customer pipeline7 up 4% to a new high of £271m (H1 2025: £261m). This is after the closure of the £42.5m new customer win. | |
| l | Balance sheet remains strong, with net cash increased to £32.5m (31 March 2025: £31.2m). | |
| l | Interim dividend up 15% to 5.5p (H1 2025: 4.8p). | |
Operational
| l | Major new contract, worth c.£42.5m over five-year subscription term, signed in January 2026 with Omantel, the main national telecoms operator in Oman: | |
| – | covers fixed, mobile, broadband and TV services | |
| – | the requirements phase has been completed, and configuration and integration are now under way. | |
| l | Implementation for Ucom, the leading provider of telecommunication services in Armenia continued to progress well: | |
| – | initial delivery phases have been completed and cutover is scheduled for the autumn. | |
| l | Latest product release, Cerillion 26.1, included Agent2Agent (A2A) capabilities, which enable communications services providers to move from siloed automation towards coordinated, multi-step process execution across systems. | |
| l | The Board believes that the Group is well-positioned to deliver consensus market expectations for the full year, underpinned by the back-order book, expected income mix, and anticipated new orders from existing customers. | |
Louis Hall, CEO of Cerillion plc, commented:
“Winning the £42.5m transformation project contract with Omantel in January 2026 marks a significant milestone in the ongoing development of the business. Not only does it add a prestigious new customer, but it is a further proof-point for our product-centric model, a very valuable reference for similar scale new business and a catalyst for further opportunities in the Middle East.
“While there is very significant weighting to this year’s results, we believe Cerillion is well-placed to deliver market expectations for the full year. Delivery is based largely on business already under way and anticipated new orders from existing customers. Looking further ahead, demand remains strong and our pipeline of opportunities with both new and existing customer is very healthy. We therefore continue to view long-term prospects with confidence.”
1 New orders does not include the support and maintenance elements of orders from new or existing customers, as this is separately itemised in the Back-order book total (see footnote 2 below).
2 Back-order book of £82.1m consists of £72.6m of orders contracted but not yet recognised plus £9.5m of annualised support and maintenance revenue. It is anticipated that c. 39% of the £72.6m of orders contracted but not yet recognised as at the end of the reporting period will be recognised within 12 months from 31 March 2026.
3 Annualised Recurring Revenue includes the annualised value of support and maintenance, managed service, Skyline and third-party hardware and hosting revenue, plus annualised term licence revenue, which is calculated as total term licence revenue divided by the contract length for each customer and excludes any deduction for financing; note this differs to Cerillion’s revenue recognition policy which is to recognise core term licence revenue in full upfront when the customer has the ability and right to use the licences, rather than being spread over the contract term, and includes a deduction for the financing component.
4 Adjusted EBITDA is a non-GAAP, Company-specific measure, which is earnings excluding finance income, finance costs, taxes, depreciation, amortisation and share-based payment charges.
5 Adjusted profit before tax is a non-GAAP, Company-specific measure, which is earnings excluding taxes and share-based payment charges.
6 Adjusted earnings per share is a non-GAAP, Company-specific measure, which is earnings after taxes, excluding share-based payment charges divided by the average weighted number of shares in the period.
7 New customer sales pipeline is the total, unweighted value of all qualified sales prospects.
Investor Presentation
Management will be hosting a live, online presentation of interim results on Friday, 5 June 2026 at 12.45pm. Any investors who are interested in joining the virtual event are invited to register via the following link: https://bit.ly/CER_HY26_webinar.
