Full-year results from AI-powered loyalty and promotions firm Eagle Eye Solutions (LON:EYE) beat previously raised expectations, heralding a bright future. The company also delivered on all four of its strategic objectives, with CEO Tim Mason calling FY26 a ‘transformational’ year.
Results ahead of raised market expectations
For the year to June, Eagle Eye reported annual recurring revenue (ARR) of £44.5 million, beating its previously raised target. SaaS (software as a service) revenue represented 85% of group turnover, showing continued progress in delivering recurring revenue growth.
Significantly, EagleAI revenue grew at a faster clip, up 35% to £7.8 million, reflecting increased customer adoption. Moreover, ARR from EagleAI more than tripled to £3.6 million.
Although EBITDA declined versus FY25, the prior year included the NRS contract so the comparison wasn’t like-for-like. The margin for FY26 was 21.1%, with H2 registering a significant uplift to 23.5%, well above the 20% targeted exit rate.
Eagle Eye Solutions FY26 results
| FY26 | FY25 | Change | |
| Total revenue (£m) | 46.1 | 38.1 | 21% |
| Annual recurring revenue (£m) | 44.5 | 34 | 31% |
| SaaS revenue (£m) | 39.3 | 30.1 | 31% |
| Adj EBITDA (£m)* | 9.8 | 12.2 | -19% |
Source: Company accounts
Note*: Adjusted EBITDA comparison includes lost NRS contract
A bright future in store
The company secured 13 major customer wins during the year across three continents. FY26 also marked its entry into the airline sector with a deal with easyJet (LON:EZJ).
The firm continued to deepen its relationships with major customers, winning renewals and/or extensions including Asda, Morrisons and Carrefour. More importantly, its expansion in the US paid off with £2.6 million of new ARR, a six-fold increase on FY25.
The global OEM agreement with a leading enterprise software firm moved into commercial deployment, with the loyalty solution added to the price list. The partnership has already signed up two blue-chip European customers with an estimated ARR of £2 million, and will be an impportant contributor to growth.
We have championed Eagle Eye for a while due to its exceptional growth potential. It operates in a vast and growing market, where AI adoption is driving increased demand for its solutions. It also typically partners with the biggest players in each sector, who need to innovate to stay ahead.
As CEO Tim Mason says, the opportunity in front of the business is ‘significant’. Brands and companies are prioritising loyalty as a strategic source of customer data to improve their own decision-making and deliver more personalised experiences.
Those that succeed can look to increase the lifetime value of each customer and unlock new revenue streams. Eagle Eye is positioned to bring brands that advantage, and we believe it has a strong future in store.
