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Financial Highlights
Data shown as of financial calendar year end 31 December 2023
Group revenue
underlying revenue growth of 7% (12% reported growth)
Subscription revenue
underlying growth of 7%
Invoiced forward revenue
increased by 1% to £135.2m (31 December 2022: £133.5m)
Adjusted EBITDA(1)
increased by 28% to £110.8m (2022: £86.4m)
Adjusted EBITDA margin(1)
of 41% (2022: 36%)
Cash from operations
of £101.0m (2022: £85.4m)
Final Dividend
of 3.2 pence per share (2022: 2.6 pence per share(restated))
Statutory profit before tax
of £41.5m (2022: £38.4m), which is inclusive of non-cash charges of £19.4m share-based payments charge and £9.0m from amortisation of acquired intangibles
Net bank debt(2)
of £243.9m (31 December 2022: £249.6m)
Note 1: Adjusted EBITDA: Earnings before interest, tax, depreciation and amortisation, adjusted to exclude costs associated with acquisitions, restructuring of the Group, share based payments, impairment, unrealised operating exchange rate movements and the impact of foreign exchange contracts. Adjusted EBITDA margin is defined as: Adjusted EBITDA as a percentage of revenue.
Note 2: Net bank debt: Short and long-term borrowings (excluding lease liabilities) less cash and cash equivalents.