Beeks Financial Cloud Group plc (LON:BKS), a cloud computing and connectivity provider for financial markets, today announced the signing of c.$10 million of Proximity Cloud contracts in June.
Proximity Cloud is a high-performance, dedicated and client-owned trading environment, fully optimised for low latency trading conditions and built with security and compliance at the forefront.
The contracts comprise four-to-five year contract wins and renewals for brokerage and fintech firms, spanning key locations across UAE and Europe. The wins reflect the growing demand for Beeks’ private cloud infrastructure and reinforce the appeal of the Company’s Proximity Cloud offering to global financial institutions seeking scalable, high-performance infrastructure. Revenue associated with these deals is set to be recognised across both FY25 and FY26, contributing to a strong start to FY26.
Beeks also provided a trading update for the year ended 30 June 2025 (FY25). Results for FY25 are expected to once more demonstrate significant double-digit growth on the prior year, driven by a strong performance across Beeks’ Private, Proximity and Exchange Cloud offerings.
Revenue for FY25 is expected to have increased by approximately 25% to £35.5m (30 June 2024: £28.5m), with underlying EBITDA growth of 29% to £13.8m (30 June 2024: £10.7m) and underlying profit before tax growth of 41% to £5.5m (30 June 2024: £3.9m). On a constant currency basis, Beeks has achieved revenue growth of 26% (£35.9m) and underlying profit before tax growth of 46% to £5.7m.
Within the FY25 results, £1.3m of revenue related to the Exchange Cloud contract with Grupo Bolsa Mexicana de Valores (BMV), announced on 18 February 2025, has been deferred into FY26 due to constraints at the Mexico City Disaster Recovery data centre, delaying the launch of one of the two services into H1 FY26. The primary site has gone live in recent weeks.
Beeks exited FY25 with approximately 5% growth in ACMRR in the year to £29.5m (30 June 2024: £28.0m). One of the above contract wins has resulted in a reduction in ACMRR during the period of £0.7m due to the customer moving from Private Cloud to a Proximity Cloud solution. Due to the different accounting treatment, this results in part of the revenue associated with this contract being recognised upfront.
FY25 has been a year of sales momentum for Beeks, demonstrating Beeks’ ability to convert its substantial pipeline into multi-year wins. Major deals signed in the year include three significant multi-year Exchange Cloud wins, with BMV, the Australian Securities Exchange, and Beeks’ first cryptocurrency exchange, Kraken, an extension with the JSE and the large Exchange Cloud approval announced in H1, as well as a multi-year Proximity Cloud contract with a leading global FX broker and the wins in June.
Beeks continued to achieve a positive free cash flow position over the year with unaudited net cash of £6.96m at the period end (30 June 2024 net cash of £6.58m) notwithstanding both FX translation impact of approximately £0.5m alongside significant investment into the hardware infrastructure required to deliver the Proximity and Exchange Cloud deals signed during H2. Operating cash flows from these deals are due to commence during FY26.
The Group’s pipeline continues to grow, with advanced discussions taking place with existing and prospective customers across the globe and across all of Beeks’ product offerings. As such, the Board is confident in continued momentum into FY26 and beyond.
The Group expects to release final results for FY25 in early October 2025.
Gordon McArthur, CEO of Beeks, commented:
“Consistent with previous years, we are yet again set to deliver significant double digit growth. The steady flow of new customer wins, as well as the significant expansion potential across our existing customer base, serve as a testament to the value of our product offerings, our ability to execute on sales, and our established position as a leading technology provider for financial markets. We enter FY26 with ongoing confidence in our ability to convert the strong pipeline of opportunities across our offerings.”
