Shares in Finseta plc (AIM:FIN), the foreign exchange and payments company listed on London’s Alternative Investment Market, fell 42% to 6.25p in early trading on Tuesday.
The group now expects 2026 revenue of approximately £11 million, below the board’s previous expectations, after difficult macroeconomic conditions persisted through the summer.
Finseta expects unaudited revenue of approximately £5.4 million for the six months to 30 June, down from £5.9 million in the same period last year.
Active customers increased to 1,389 from 1,101 year on year, but average revenue per customer declined as weaker demand lengthened sales cycles.
Revenue from Dubai increased 243% year on year, but activity was lower than expected after the ongoing conflict in the Middle East curtailed trading.
The group expects an adjusted loss before interest, tax, depreciation and amortisation (EBITDA) of approximately £1 million, compared with an adjusted EBITDA profit of £300,000 in the first half of 2025.
Gross margin increased to 66% from 63%, while corporate accounts accounted for 74% of revenue, up from 58% a year earlier.
Cash and cash equivalents were £2.1 million at 30 June, leaving net debt of £400,000 compared with £300,000 at the end of December.
Finseta also lost access to a currency corridor after a banking partner withdrew the service, preventing the group from serving customers requiring that corridor.
