Bristol-based education services’ software provider, Tribal Group, has announced a robust financial performance for 2024, positioning itself for “sustained growth” in the increasingly competitive edtech landscape.
The AIM-listed company reported a 6% rise in group revenue to £90m for the financial year ending 31 December 2024, alongside a notable 17.8% increase in adjusted EBITDA to £16.7m. While statutory profit before tax dipped from £6.4m to £5.9m, largely due to exceptional costs, the company demonstrated significant financial discipline by reducing net debt from £7.2m to £3.2m.
Chief Executive Mark Pickett described the results as “a milestone” in the company’s strategic transformation towards a software-as-a-service (SaaS) business model. Speaking to tech journalists, Pickett emphasized the firm’s strong market positioning and highlighted Tribal Group’s resilience.
He said: “Despite market challenges, we delivered revenue and EBITDA higher than expectations, significantly reduced debt, and saw impressive ARR growth. Looking ahead, we are focused on optimising our operations and driving continued growth and increasing cash flow generation.”
Tribal expressed confidence in meeting the board’s expectations for the 2025 financial year, with the company proposing a full-year dividend of 1.3p per share – comprising an interim dividend of 0.65p paid in November 2024 and a proposed final dividend of 0.65p expected in July.
The announcement underscores Tribal’s strategic navigation of the evolving edtech market, positioning the company for potential further expansion in 2025.
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