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Huxley Group

June 2026 close, All Entities, Consolidated. Situation, insights, recommendation, evidence, the ask. Click any number to trace.
1
Info, the status

What the financials show this period

Revenue $17.6M, gross margin 76.4%, Adj. EBITDA $5.8M (33.1% margin) and net income $4.0M for June 2026, on period-end cash of $12.4M.

The main driver
This is driven mainly by Enterprise license revenue, -$600,000 versus plan. Two Top-20 renewals worth $0.6M of ARR slipped from May into Q3 as customer procurement cycles ran long. Both are verbally committed with signed letters of intent; quarter pipeline coverage holds at 1.6x, so this is timing, not lost demand.
Actual$17,600,000
Plan$18,100,000
Variance-$500,000
Revenue of $17.6M came in $0.5M (2.8%) below plan.
Enterprise license revenue-$600,000
Other revenue lines+$100,000
Ties to the variance-$500,000
What the preparer recorded
Enterprise license revenue -$600,000 vs plan. Two Top-20 renewals worth $0.6M of ARR slipped from May into Q3 as customer procurement cycles ran long. Both are verbally committed with signed letters of intent; quarter pipeline coverage holds at 1.6x, so this is timing, not lost demand.
Gross profit$13,450,000
Operating expenses($8,520,000)
EBITDA$5,830,000
Adj. EBITDA of $5.8M at 33.1% margin came in $0.8M (11.4%) below plan.
Revenue Enterprise license revenue-$500,000
Cost of sales Cloud hosting / infrastructure-$150,000
Operating costs Sales & Marketing-$120,000
D&A and other+$20,000
Ties to the variance-$750,000
A cost over plan carries a minus here, since it lowers EBITDA.
The biggest single driver
Enterprise license revenue -$600,000 vs plan. Two Top-20 renewals worth $0.6M of ARR slipped from May into Q3 as customer procurement cycles ran long. Both are verbally committed with signed letters of intent; quarter pipeline coverage holds at 1.6x, so this is timing, not lost demand.
Revenue$17,600,000
Cost of sales($4,150,000)
Gross profit$13,450,000
Gross margin of 76.4%, behind the 77.9% planned.
Revenue-$500,000
Cost of sales-$150,000
Ties to the variance-$650,000
On the cost side
Cloud hosting / infrastructure +$150,000 vs plan. A regional traffic spike during the new-region launch pushed compute past reserved capacity. A reserved-instance reset is in flight and the overage clears next month; unit economics are unchanged.
EBITDA$5,830,000
Net income$4,000,000
Net income of $4.0M came in $0.7M (14.9%) below plan.
Adj. EBITDA-$750,000
Depreciation and amortisation-$20,000
Interest and other-$20,000
Tax+$90,000
Ties to the variance-$700,000
Cash, period-end
Cash and equivalents$12,400,000
Operating cash flow$4,100,000
Free cash flow$3,400,000
Cash of $12.4M at period end, from $4.1M of operating cash flow, with DSO improving from 47 to 41 days.
Recorded on the cash flow
Operating cash flow. Collections outpaced billings as the two largest enterprise accounts settled early; DSO improved six days to 41, the best in four quarters, and the AR over-90 bucket fell to 3% of the ledger.
Operating cash flow$4,100,000
Free cash flow$3,400,000
Free cash flow of $3.4M: $4.1M from operations, less $0.7M of capital expenditure. The business is self-funding.
Recorded on the cash flow
Operating cash flow. Collections outpaced billings as the two largest enterprise accounts settled early; DSO improved six days to 41, the best in four quarters, and the AR over-90 bucket fell to 3% of the ledger.
Revenue and EBITDA margin, trailing 12 months
JulSepNovJanMarMayJun
RevenueEBITDA margin
Revenue has grown from $14.0M to $17.6M over the trailing year, with EBITDA margin at 28%.
Generated from the June 2026 close. Consolidated across the entities, income at the average rate and balances at the closing rate. Every figure traces to a P&L, balance-sheet or cash-flow line. A fictional reference close, confidential and for board use.