ONDO INSURTECH PLC - Full Year Results for the year ended 31 March 2026

Ondo InsurTech PLC delivered a strong investor update, highlighting continued commercial momentum driven by accelerating adoption of its LeakBot water leak detection technology and rapid expansion in the US insurance market. Group revenue increased 20% year-on-year to £4.6m, while recurring revenue rose 51% to £3.8m, now accounting for 83% of total revenue. Annualised recurring revenue reached £4.6m, with contracted annualised recurring revenue increasing to £6.8m, reflecting strong visibility over future earnings. The US business was the standout performer, with revenue more than doubling and active LeakBot devices increasing 114%, supported by new and expanded partnerships with major insurers including Nationwide, Liberty Mutual, Selective and Westfield. The Group also strengthened its position in the UK and Denmark through additional carrier agreements. Following the period end, Ondo completed a refinancing that reduced financing costs, extended debt maturities and secured additional growth capital to support its expansion strategy. Management reported a strong start to the new financial year, with the active LeakBot installed base rising to 167,000 devices and continued progress in operational efficiency, customer satisfaction and recurring revenue growth. With a growing base of long-term insurance partners, a scalable subscription model and a robust growth strategy, Ondo InsurTech remains well positioned to deliver sustainable revenue growth and long-term shareholder value.