LONDON (ShareCast) - (Sharecast News) - Remote people monitoring specialist Big Technologies confirmed in an update on Tuesday that it was on track to meet market expectations for 2024, despite a revenue dip attributed to the loss of a Colombian customer earlier in the year.
The AIM-traded company said revenue for the year was expected to reach £50.3m, down from £55.2m in 2023, while adjusted EBITDA was forecast at £27m, compared to £33m the prior year.

It put the decline down to the impact of the Colombian contract loss in May, as well as increased investment in US business development, which had started yielding new customer wins.

The firm said its monthly recurring revenue (MRR) at the end of 2024 stood at £4m, slightly up from £3.9m in the first half of the year, providing strong visibility for future revenue streams tied to its long-term contracts.

For 2025, Big Technologies said it expected sales and profitability to remain at similar levels to 2024, assuming no adverse currency movements, with MRR anticipated to grow further.

Positioned for the long term, the company highlighted its financial flexibility to invest in new technologies and expand into under-represented markets.

Supported by favourable trends in the electronic monitoring sector and a clear strategy, Big Technologies said it was confident in returning to growth in the near future.

At 1200 GMT, shares in Big Technologies were up 0.78% at 127.48p.

Reporting by Josh White for Sharecast.com.

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