LONDON (ShareCast) - (Sharecast News) - Software and technology firm Essensys warned on Thursday that its FY26 results were expected to fall "materially below" prior expectation as it revealed founder Mark Furness had submitted a preliminary, non‑binding proposal to acquire the company at 20p per share.
Essensys' independent directors, excluding Furness, said discussions were at an early stage and stressed there was no certainty an offer would be made, with any potential bid subject to due diligence and board recommendation.

Alongside the possible offer, Essensys reported first‑quarter revenues of £4.1m, broadly in line with expectations and driven by its core Platform product.

However, while Essensys said customer interest in its new elumo product remained "strong", it also warned that the current macroeconomic environment had led to "elongated sales cycles and slower than anticipated adoption rates", which was expected to impact FY26 sales.

Essensys also flagged the non‑renewal of a Platform contract worth £900,000 in annual recurring revenues, though churn overall remained in line with forecasts.

As a result, while FY26 results were seen short of internal expectations, Essensys believes that restructuring and cost savings from its data centre decommissioning project should protect its cash position going forward.





Reporting by Iain Gilbert at Sharecast.com

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