Elixirr International posted record H1 2026 performance, driven by a 185% increase in AI revenue and strong client expansion, while management expects leverage to decline by year-end despite temporary cash flow pressures.
Elixirr reported record first-half revenue and EBITDA growth with strong AI-related revenue, though cash flow weakened and net debt rose due to acquisition-related payments.
Elixirr International reported record first-half 2026 results, with revenue climbing 25% to £89.0 million and adjusted EBITDA rising 29% to £27.6 million. Growth was fueled by a 185% surge in AI-related revenue and successful integration of recent acquisitions, though net debt rose to £56.5 million due to acquisition payments and seasonal cash flow factors.
The increase in net debt to £56.5 million was primarily driven by £23.5 million in acquisition-related cash outflows, including earn-out payments for TRC Advisory and the acquisition of Kvadrant, alongside seasonal working capital pressures.