Newcastle-based technology consultancy Opencast has secured more than £91m of contracted work as it focuses on controlling costs and improving profitability.
The 800-strong firm, which builds digital products for the Government, healthcare and other business customers, said it has strengthened its position with key customers such as HM Revenue & Customs, the Department for Work and Pensions, the Ministry of Justice and the Department for Education. However, new accounts for the Hoults Yard-based company detail a “challenging” environment throughout 2025, with slower procurement and decision-making and delays to the start of work.
Financial performance and market challenges
Documents show Opencast Software Europe Holdings Limited grew turnover to more than £50m last year, up from £46.5m. Operating losses narrowed from £6.3m to £2.63m, and pre-tax losses narrowed from £6.7m to £4.2m. Adjusted Ebitda remained “broadly stable” at £2.5m.
Directors said the public sector market had been particularly challenging, with sluggish procurement and delays between the award of contracts and mobilisation, impacting the timing of revenue and creating inefficiencies in workforce planning. There were said to be signs of improvement in the latter part of the year as delayed work began to ramp up.
Strong recovery and outlook
Post year-end, Opencast said July 2026 was the strongest month in the company’s history, and by the end of August it had £91.7m of contracted work in its backlog. The firm now expects full-year revenue to surpass £70m, with adjusted Ebitda of more than £5m.
Tom Lawson, CEO of Opencast, said: “We came into 2025 with a large backlog of work and positive pipeline momentum, and expected a really strong year. However, persistent project delays and slower-than-expected ramp-ups pushed demand into the second half of the year.”
“Although later than we’d hoped, the second half of 2025 brought a sharp acceleration in growth, and we’ve been building on that momentum ever since. Over the last 12 months, we have welcomed more than 300 people to the business and grown to more than 800 colleagues, and we expect to exceed £70m in revenue when we close out the year.”
Lawson added: “We feel immensely proud that people are trusting us with the next stage of their career, and it’s a responsibility that we don’t take lightly. That’s why our focus in 2026 and beyond is not simply on growing our people count but on growing our people, their skills and their careers.”
Social impact and community work
Opencast also used the accounts to update on its Social Impact Strategy, which included 467 days of pro-bono consultancy for five non-profits: Every Youth, Reboot the Future and Turing Trust, along with start-up GG Care. There was also voluntary work in support of purpose-led businesses and social enterprises.
Alongside work to support people into careers in the technology sector, work experience opportunities were afforded to 20 adults and 20 students at the Newcastle office, and two nine-week placements paid at real living wage, one T-Level placement and one NEET placement. Opencast also lets charities, schools, universities, communities and local councils use its Newcastle headquarters.
