Littlefish revenue rises double digits in FY25

Results were fuelled by new business wins and high customer retention rates

Nottingham-HQ Littlefish has reported £61.4m in revenue for the year ended 31 December, representing an 11 per cent jump on an annualised basis.

The Microsoft-focused digital services provider’s turnover was down from the £68.9m recorded in its previous financial period, although the comparison covers 15 months compared with 12 months in FY25.

When adjusted to a 12-month basis, the previous figures equate to about £55.1m, an annualised growth of around 11 per cent.

The firm attributed the increase to new business wins and high customer retention rates.

Recurring IT managed services and support remained Littlefish’s largest source of revenue, generating £48m during the year.

IT consultancy brought in £11m, while equipment supply contributed £2.4m.

The UK remained by far the MSP’s largest market, generating £60.4m in turnover, with revenue from the rest of the world reaching just over £1m.

In an interview with CRN earlier this year, CEO Ursula Morgenstern said that the company’s strategic focus was firmly on the UKI.

The organisation ranks number 95 on CRN's Top VARs list.

Adjusted EBITDA stood at £9.3m, down from £12m during the previous 15-month period.

Operating profit reached £6.2m.

Littlefish's continued expansion

The results were followed by the acquisition of cybersecurity IT services firm Stripe OLT for an initial £11.5m in February.

The deal includes up to £5m in additional contingent consideration and was funded through £11m of bank loans alongside more than £1.7m in cash.

The group also took over Irish MSP Storm Technology in 2024.

Morgenstern joined as CEO a month later.

These moves followed significant investment in the MSP since its acquisition by Bowmark Capital in September 2022.

Littlefish added that it has expanded its senior leadership team, broadened its capabilities and increased operational capacity to support new contract wins.

Average headcount during the period reached 655 employees during FY25, compared with 635 in the previous year.

Littlefish linked the rise to new contract wins and additional operational headcount brought in to maintain customer service levels.

Following the Stripe OLT acquisition, the firm now counts approximately 900 staff.

Moving forward, Littlefish said it plans to continue investing in operational software, systems and processes, with a particular focus on automation and improving customer experience.