- Cordel Group
- 16 July 2025 13:46:42
Source: Sharecast
The AI-driven transport analytics firm ended the period with £1.5m cash, up from £1.02m a year earlier, citing improved margins and positive cashflow performance.
Chief executive John Davis said the company had successfully secured five new customers during the year, including two major US railroads, although some anticipated revenue had shifted into the 2026 financial year.
“Notwithstanding this, the uplift in software revenues, compared to hardware revenues, and ongoing careful expense management created an improved operating margin and contributed to a strong positive cashflow performance over the year,” Davis said.
Cordel noted continued investment in sales and engineering across key regions and said it planned further investment in marketing and delivery over the coming year to support the launch of its positive train control (PTC) platform.
While the sales pipeline supported a return to stronger growth in 2026, the company said it remained cautious about broader economic conditions and has moderated its growth targets accordingly.
“We have performed well in 2025, despite the aforementioned revenue delays, with an excellent cashflow result, achieved during a period of investment in capacity and technology,” commented chairman Ian Buddery.
“We are excited by the potential of our PTC product initiative ahead of its upcoming launch.
“An unexpected bonus has been the interest in PTC from other countries; the applications for our multimodal artificial intelligence technology are broader and deeper than anticipated.”
Full-year audited results were expected to be released in November.
At 1258 BST, shares in Cordel were down 4.2% at 6.95p.
Reporting by Josh White for Sharecast.com.