FD Technologies PLC (AIM:FDP) shares surged 14% in early trading on Tuesday after the company reported a strong performance for the year to 28 February and set out upbeat guidance for 2026.
Its flagship software business KX landed new annual contract valued at £18 million, a 33% increase on last year and at the top end of guidance.
Recurring revenue from KX rose 13% to £81.8 million, marking the first time the business has passed $100 million in annual recurring revenue on a constant currency basis.
Cash EBITDA losses narrowed to £14.6 million, beating expectations, and the company ended the year with £56 million in net cash following the £120 million return to shareholders from recent disposals.
FD has now become a pure-play software business focused entirely on KX. It said it was confident about achieving at least 20% recurring revenue growth in the year ahead, citing growing demand for real-time AI in capital markets, aerospace and defence.
The stock, up 58% in the last year, advanced 232p in the first hour of trading to 1,894p.