KX generated revenue growth of 12 percent, but First Derivatives declined by 8 percent.
The company turned a pre-tax loss of £7.7 million.
FD Technologies (AIM: FDP), previously known as First Derivatives, closed its 2024 fiscal year with annual revenue of £248.9 million, 2 percent lower than the previous year. The company’s losses before taxes also broadened to £7.7 million from merely £0.4 million.
Two Divisions of the Company
According to the official numbers, the KX division of the company saw revenue growth of 12 percent in constant currencies to £79 million. Recurring revenue also increased by 19 percent and now represents 86 percent of KX revenue, up from 81 percent in the previous year.
The company highlighted that the performance of the KX division was impacted by lower pipeline conversion rates and lengthened sales cycles with “fewer repeatable use cases in newer markets and macroeconomic headwinds.”
Despite the marginal revenue decline, the gross profit of the company almost remained the same at £105.7 million. Its loss per share dived to 145.2 pence from 14.4 pence. The company's debts also increased to £14.4 million from £3.7 million.
The adjusted EBITDA of FD Technologies also went down by 31 percent to £23 million, due to accelerated investment in KX and lower revenue in First Derivative.
FD Technologies' FY24 financial summary
“FY24 presented challenges within our businesses, but we made significant strategic progress, and we enter FY25 with clarity and focus on the exciting opportunities ahead,” said Seamus Keating, CEO of FD Technologies.
“While KX's ARR growth was below our expectations for the year, we have addressed the operational challenges and are well-placed to execute on the enormous addressable market in the industries we are targeting. First Derivative managed its cost base to ensure that despite the caution in its customer spending, it maintained margins.”
Outlook Is Bullish
As for the outlook, the company expects KX to achieve an annual contract value in the range of £16 million to £18 million in the ongoing fiscal year. This will result in gross annual recurring revenue growth of 20 to 25 percent.
“Looking to FY25, the conclusion of the structure review provides a clear path to value creation for shareholders while the operational improvements, focus on repeatable use cases, and growing opportunity in AI provide confidence that KX will deliver stronger, sustainable growth,” Keating added.
FD Technologies (AIM: FDP), previously known as First Derivatives, closed its 2024 fiscal year with annual revenue of £248.9 million, 2 percent lower than the previous year. The company’s losses before taxes also broadened to £7.7 million from merely £0.4 million.
Two Divisions of the Company
According to the official numbers, the KX division of the company saw revenue growth of 12 percent in constant currencies to £79 million. Recurring revenue also increased by 19 percent and now represents 86 percent of KX revenue, up from 81 percent in the previous year.
The company highlighted that the performance of the KX division was impacted by lower pipeline conversion rates and lengthened sales cycles with “fewer repeatable use cases in newer markets and macroeconomic headwinds.”
Despite the marginal revenue decline, the gross profit of the company almost remained the same at £105.7 million. Its loss per share dived to 145.2 pence from 14.4 pence. The company's debts also increased to £14.4 million from £3.7 million.
The adjusted EBITDA of FD Technologies also went down by 31 percent to £23 million, due to accelerated investment in KX and lower revenue in First Derivative.
FD Technologies' FY24 financial summary
“FY24 presented challenges within our businesses, but we made significant strategic progress, and we enter FY25 with clarity and focus on the exciting opportunities ahead,” said Seamus Keating, CEO of FD Technologies.
“While KX's ARR growth was below our expectations for the year, we have addressed the operational challenges and are well-placed to execute on the enormous addressable market in the industries we are targeting. First Derivative managed its cost base to ensure that despite the caution in its customer spending, it maintained margins.”
Outlook Is Bullish
As for the outlook, the company expects KX to achieve an annual contract value in the range of £16 million to £18 million in the ongoing fiscal year. This will result in gross annual recurring revenue growth of 20 to 25 percent.
“Looking to FY25, the conclusion of the structure review provides a clear path to value creation for shareholders while the operational improvements, focus on repeatable use cases, and growing opportunity in AI provide confidence that KX will deliver stronger, sustainable growth,” Keating added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
ASX Faces $150M Capital Charge After Scathing Inquiry Finds Years of Neglect
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
