12:14 pm, April 22, 2026
Pinewood Technologies posted an £8.8m profit before tax in its full year results for 2025, and its second year as a standalone technology company after splitting from Pendragon.
The results, published on the London Stock Exchange this morning, reveal that profit before tax grew 3.5% from £8.5m the previous year and revenue grew 29.8% from £31.2m to £40.5m.
It reports FY26 underlying EBITDA expectation are in line with the market estimate of £21.3m, up from last year’s £16.4m.
Recurring revenue increased in the 12 months ending December 31, 2025, up to £33.7m from around £27m in 2024.
Revenue growth was driven by new customer wins, cross-selling to existing clients and the acquisition of Seez AI.
In June 2025, Pinewood Technologies agreed to buy out Lithia’s stake in its North American joint venture. It reported that its rollout in North America was gaining momentum, adding that it had engaged with OEMs covering around 90% of Lithia’s North American dealer base.
It added that in the UK, implementation of the Pinewood.AI system at Lookers dealerships was ‘progressing well’ and is due to be completed in the final quarter of this year.
CEO of Pinewood Technologies Group PLC Bill Berman said: ‘Our second year as a standalone technology company has delivered both strong financial performance and significant strategic progress.
‘We have continued to successfully implement our system across Lookers’ dealerships in the UK, made good progress towards US deployment with a pilot programme now underway, and completed the transformative acquisition of Seez AI, whose integration with our rich data stack is at an advanced stage and already driving benefits for customers.’
‘We are confident in achieving our expectations for FY26 and in delivering our medium-term target of £58-62m underlying EBITDA by FY28, supported by high revenue visibility from existing contracts and a strong pipeline of new opportunities.’
In the update it also mentioned on the delayed rollout of its system in Marshall Motor Group dealerships, which will now commence in the second half of this year.
This year it also agreed the acquisition of its reseller based in the Netherlands in February of this year for £3.3m and this is expected to add between £700,000 to £800,000 of incremental annual EBITDA.
