TruFin PLC on Monday said it expects to report 2024 results ‘significantly ahead’ of market expectations, and has forecast a swing to profit in 2025.

TruFin is a London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance and mobile games publishing.

The company said it expects to report full-year revenue of more than £42 million for 2024, more than doubling from £18.1 million last year and ‘significantly ahead of market expectations’.

Broker Panmure Liberum had previously forecast annual revenue of £38.5 million for the company, with the upgraded guidance on Monday representing a 9.1% increase.

As a result, TruFin said it expects to record its first year of positive earnings before interest, tax, depreciation and amortisation, at £3.5 million or above. This would compare to a loss of £3.5 million the year before.

It anticipates adjusted pretax loss to narrow to £2.5 million from £6.6 million.

TruFin said: ‘2024 has been a transformational year for the group. Playstack Ltd and Oxygen Finance Group Ltd are now profitable, and both remain on track to grow significantly over the coming years.

‘Playstack’s proprietary discovery technology, Magnitude, continues to identify games which deliver exceptional returns on invested capital. Following this year’s highly successful launches of Balatro, Abiotic Factor and Rise of the Golden Idol, Playstack has already secured an exciting line-up of 10 games for release in 2025 and 2026.

‘Oxygen has once again performed consistently and predictably. With its large, embedded client base and significant operational leverage, the board expects Oxygen’s Ebitda to continue to grow at highly attractive rates during 2025 and beyond.’

Looking ahead, after it has carried out ‘meaningful cost realignment’ following the termination of a large client’s contract at its Satago Financial Solutions Ltd business, TruFin expects group Ebitda to ‘remain on a sustainably positive trajectory during 2025 and beyond’.

It also expects to post its first positive pretax profit in 2025.

The company has forecast revenue of more than £55 million for 2026, and a group Ebitda margin of at least 20%.

Shares in TruFin were up 15% at 73.30 pence each in London on Monday morning.

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