FD Technologies Posts 11% Jump in Revenue in FY22

FD Technologies reported its financial results for the year ended 28 February 2022 (FY22) today. The company posted decent growth in revenue as the number touched £263.5 million, compared to £237.9 million in FY21.

However, profit before tax and reported diluted EPS dropped sharply during the mentioned period. While gross profit increased 5% to £106.1 million, profit before tax dipped by almost 19%. Reported diluted EPS came in at 22.9 p, which is 28% lower compared to FY21.

“We have delivered a year of transformation across the Group, with each business unit achieving the Key Performance Indicators we set out in our strategy one year ago to accelerate our growth. KX, which was the principal focus of our investment in the year, delivered our target ARR growth, and enters the new financial year with increased momentum from our partnership with Microsoft enabled by the launch of our cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-native KX Insights platform,” Seamus Keating, the CEO of FD Technologies, commented.

For the reported period, FD Technologies highlighted strong growth across First Derivative revenue as the figure touched £148 million, which is up by 24% compared to FY21. According to the company, the growth in First Derivatives was driven by solid market demand.

Growth Ambitions

FD Technologies noted that the company has entered the new financial year with decent momentum. For FY23, the company expects revenue in the range of £290 million to £300 million and adjusted EBITDA in the range of £36.5 million to £38.5 million.

“First Derivative recorded strong growth as it built on its reputation for domain knowledge and delivery excellence, while MRP continued to grow strongly from its leadership position in predictive lead generation. Across the Group, our investment in systems and people positions us to scale our operations to meet our growth ambitions. The opportunities across the markets in which we operate are significant and through continued execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of our strategy I am confident we can unlock value for our customers and accelerate our growth in the years ahead,” Keating added.