Elixirr announces its H1 25 results which saw revenue increase by 35 per cent to £71.4m (H1 24: £53.0m). The Group’s strong service offering and continued growth saw Elixirr achieve five record-breaking months in the first half of 2025 as the firm continues to outperform the wider consulting market.

Today the consultancy also announced its largest acquisition to date: TRC Advisory, a fast-growing US-based consultancy specialising in growth strategy, commercial effectiveness and value acceleration for both public and PE-backed global businesses. 

Financial highlights:

  • H1 25 revenue increased by +35% to £71.4m (H1 24: £53.0m)
  • Adjusted EBITDA margin of 30.0% (H1 24: 28.5%)
  • Adjusted EBITDA increased by +42% to £21.5m (H1 24: £15.1m)
  • Organic growth of +17% from previous comparable period
  • Adjusted diluted EPS increased +35% to 29.0p (H1 24: 21.5p)
  • Free cash flow increased +12% from previous comparable period to £7.9m (H1 24: £7.0m)

Alongside strong financial results, H1 25 saw Elixirr prepare for its move to the Main Market of the London Stock Exchange on 1 July 2025 after demonstrating stellar business performance since its AIM IPO in 2020. Progressing to this next growth phase, the Main Market provides the firm with a stronger platform to elevate its brand profile, unlock access to deeper pools of capital, attract global investment, and compete more credibly with the world’s largest consulting firms. 

As Elixirr continues its upward trajectory, the firm remains committed to building on previous investments and acquisitions. Client demand for the full breadth of services offered across the Group has driven £14.7m in cross-sell revenue in H1 25 – a 78 per cent increase on H1 24. This success, alongside the Group’s commitment to continually growing through acquisitions, has resulted in the completion of its largest acquisition to date, which the consultancy announced today. With TRC’s strong track record in C-suite-led transformation across strategy, go-to-market, pricing and resource productivity, this acquisition bolsters Elixirr’s executive, operational and technology capabilities, adding scale to operations and accelerating US growth. 

The Board remains confident in delivering organic FY 25 trading results in line with market expectations and enhanced by the acquisition of TRC Advisory.  

Stephen Newton, Founder and CEO, commented: 

“Our entrepreneurial mindset and ambition to push the boundaries of what’s possible has driven a series of impressive firsts for the firm. Our successful move from AIM to the Main Market of the London Stock Exchange on 1 July underscored an excellent H1 and was a particularly proud milestone and a testament to the commitment of our team and scale of our ambitions.

“As we broaden our market access through our growing client base and targeted acquisitions, we remain focused on helping our clients navigate their most critical challenges. With our acquisition of TRC Advisory, we are well-positioned to unlock even greater opportunities for our clients, shareholders and our team in the years ahead.”

Find out more