Financial performance

FY25 · Group · updated 14 Jun 2026

Net revenue$248.6M
+12.4%vs. FY24
Target $240M · beat by 3.6%
Realisation92.3%
+1.8ptvs. FY24
Above 90% guardrail all year
EBITDA margin24.1%
-0.6ptvs. FY24
Wage inflation outpaced rate rises
Qualified pipeline$1.34B
+18.0%vs. FY24
2.1× coverage of FY26 target

Net revenue vs. target

Trailing 12 months · monthly net revenue, $M

+5.4% to target

Revenue by practice

FY25 net revenue, $M

Realisation & utilisation

Trailing 12 months, %

Profit by practice

FY25 · revenue, growth, margin, and realisation by practice

Profit by practice
PracticeRevenueYoYEBITDA marginRealisationStatus
Turnaround & Restructuring$78.4M+16.2%31.4%94.1%Outperforming
Performance Improvement$61.2M+11.8%26.8%92.6%On plan
Digital$38.7M+24.5%22.1%89.7%On plan
Financial Advisory$29.5M+6.4%23.9%91.2%Watch
Disputes & Investigations$22.1M-3.1%19.6%88.4%Below plan
Corporate Strategy$18.7M+9.0%20.3%90.8%Watch