Live · March 2025
Q1 FY2025 Revenue
£0.00M
+18.4% YoYvs £10.8M Q1 FY24
On track vs £57.6M annual target · 22.2% delivered
vs Prior Year
+44%
Q1 FY25 vs Q1 FY24
vs Annual Budget
–£0.8M
1.4% below annual budget pace
Annual Target Progress
22.2%
of £57.6M annual target
Q1 Revenue
£0.00M
+18.4%qtr
–3.0%bud
Annual target £57.6Mon pace · 22.2% of £57.6M
EBITDA Margin
0.0%
+3.2ppqtr
+2.2ppbud
Target 30% · 20–40% range+2.1pp above target
Cash
£0.0M
+£1.4Mqtr
+£0.7Mbud
Target £8.5M£0.7M above target
Lockup Days
94d
–6dqtr
+4dbud
Target 90d4d over target
EBITDA Margin
15-month trend
32.1%
+3.2pp YoY
Revenue Mix
YTD by practice
Total
£57.8M
Corporate Restructuring31.8%
M&A Advisory28%
Forensic & Disputes20.1%
PE Advisory14%
Valuations6.1%
Signals requiring attention
M&A pipeline coverage fell to 1.8× — target 2.5×. Review deal sourcing before end of April.
Analyst utilisation 82% vs 85% target for 3 consecutive months — capacity review needed.
EBITDA 32.1% this month — highest in 15 months. Cost discipline to be sustained in Q2.