Made Tech Group Reports Strong FY26 Results with 69% Adjusted EBITDA Growth, Beats Market Expectations

That matters because revenue growth is good, but profitable revenue growth is far better. It suggests the business is scaling more efficiently rather than simply getting bigger for the sake of it.

Made Tech beats market expectations and that usually moves sentiment

The company says FY26 is expected to be ahead of recently upgraded market expectations. That is worth noting because the bar had already moved higher, yet Made Tech still cleared it.

On the numbers provided, the business beat consensus by £1.4 million on revenue, £0.3 million on Adjusted EBITDA and £1.0 million on cash. For a company of this size, those are meaningful beats rather than rounding errors.

When a company delivers ahead of consensus, the next question is whether analysts lift forecasts again. This RNS does not say that will happen, but it certainly gives them a reason to take another look before the full results in September.

Public sector contract momentum looks real, but some detail is still missing

Made Tech also pointed to continued commercial momentum, helped by a recently awarded £19 million contract with the Government Digital Service. That is a substantial contract and reinforces the group’s position in UK public sector digital transformation.

The company said healthy sales bookings and contracted backlog provide good revenue coverage for FY27 and beyond. That is encouraging because contracted backlog means revenue already won but not yet recognised in the accounts.

However, there is one obvious limitation in the update: the actual sales bookings and contracted backlog figures were not disclosed. So while management’s commentary is positive, investors do not yet have the hard numbers to measure how strong that visibility really is.

AI and UK government spending could support the Made Tech growth story

Management is leaning into two bigger themes – UK public sector spending and artificial intelligence. The company says it remains well positioned to benefit from the UK Government’s Spending Review announced in June 2025 and available from April 2026.

It also says AI is creating new product and growth opportunities. That sounds attractive, especially given Made Tech’s role in digital, data and technology services for the public sector.

Still, investors should stay disciplined. The RNS does not disclose any financial contribution from AI yet, so this remains more of a strategic opportunity than a number you can plug into a forecast today.

Strong net cash and no debt improve the risk profile

One of the quieter positives in this statement is the balance sheet. Made Tech finished FY26 with £14.5 million of net cash, up from £10.4 million a year earlier, and it remains debt-free.

That gives the company options. It can invest in growth, absorb bumps in contract timing more comfortably, and potentially pursue opportunities without leaning on lenders.

For smaller quoted companies, balance sheet strength matters more than many investors realise. It can make the difference between a company shaping its own future and one constantly reacting to external pressure.

What I like in this Made Tech trading update

• Revenue growth of 27% is strong in its own right.
• Adjusted EBITDA growth of 69% shows operational gearing is kicking in.
• Margin at c.10.0% came in ahead of previous guidance.
• Net cash of £14.5 million and no debt strengthen the investment case.
• Contract momentum, including the £19 million Government Digital Service award, supports confidence going into FY27.

What investors should watch out for in the full Made Tech FY26 results

• This is an unaudited trading update, not the full annual results.
• Statutory profit is not disclosed, so we do not yet have the full earnings picture.
• Sales bookings and backlog figures are not disclosed, only management commentary around them.
• No dividend update is provided in this announcement.
• FY27 guidance is indirect – the company talks about momentum and coverage, but gives no formal revenue or profit forecast here.

Bottom line on Made Tech shares after the FY26 update

This is a positive update, and I think it reads better than many trading statements because it combines several things at once: growth, margin expansion, cash generation and a stronger-than-expected finish to the year.

The biggest positive for me is not just that Made Tech grew, but that it grew more profitably. A rise to around 10.0% Adjusted EBITDA margin, delivered ahead of guidance, suggests the business is moving up a gear operationally.

The main caveat is that this is still a trading update. We need the September results for the fuller picture, especially on statutory earnings, contract visibility and management’s outlook for FY27.

For now though, this looks like a good RNS. Made Tech has beaten expectations, built cash, stayed debt-free and entered the new year with momentum. That does not guarantee future returns, but it gives investors a much firmer platform to work from.