London, July 5, 2026, 20:02 BST
- Focusrite plc (LON:TUNE) ended Friday at 220p, rising 12.8% across five sessions. About 2.4 million shares traded over the week.
- Focusrite said pro-forma revenue for the 12 months ending Feb. 28 was up 1.3% at £164.6 million. Adjusted EBITDA gained 5.7%, coming in at £24.7 million.
- The next thing for the market is the dividend date. The final dividend turns ex-div on July 9. If shareholders sign off, payment lands Aug. 7.
With London markets offline for the weekend, Focusrite plc (LON:TUNE) last traded at 220 pence on Friday. The stock jumped 25 pence since the prior Friday, up 12.8% over five sessions, as the 18-month results put more focus on cash generation than earnings. London Stock Exchange regular hours are 8:00 a.m. to 4:30 p.m. BST, Monday to Friday.
The rally boosted equity value by about £15 million with 59.21 million shares out, according to this reporter’s math. That’s above the £9.3 million net debt reduction Focusrite posted for the pro-forma 12 months to February 2026. Google Finance put Focusrite’s market cap at £132.04 million and its 52-week range at 150p to 255p.
| Focusrite trading week | Close | Volume |
|---|---|---|
| June 26 | 195p | 17,566 |
| June 29 | 200p | 966,065 |
| June 30 | 220p | 813,561 |
| July 1 | 230p | 200,290 |
| July 2 | 210p | 302,447 |
| July 3 | 220p | 115,350 |
Valuation is where investors may look now. With net debt of £8.6 million added to the £132.04 million market cap, enterprise value works out to around £140.6 million. On pro-forma adjusted EBITDA of £24.7 million, that’s a multiple of 5.7. Net debt comes to roughly 0.35 times EBITDA.
| Pro-forma 12 months to Feb. 28 | 2026 | 2025 | Change |
|---|---|---|---|
| Revenue | £164.6 mln | £162.5 mln | up 1.3% |
| Gross margin | 45.1% | 43.4% | rise 1.7 pts |
| Adjusted EBITDA | £24.7 mln | £23.3 mln | increase 5.7% |
| Adjusted diluted EPS | 15.6p | 16.9p | drop 7.7% |
| Net debt | £8.6 mln | £17.9 mln | lower by £9.3 mln |
The table shows re-rating wasn’t just about sales. Revenue was up just 1.3%, but gross margin added 1.7 points and net debt dropped by over 50%. That’s important since Focusrite’s reported numbers were messy after the year-end change and a £9.8 million non-cash impairment at Sequential, its high-end synth business.
Chief Executive Tim Carroll said trading in the first quarter was “ahead of the prior year” and demand is “remaining healthy”. Carroll added that the board’s outlook for the year to Feb. 28, 2027, is unchanged. Investegate
The split in the business wasn’t balanced. Content Creation revenue was up 2.0% reported, or 3.6% for organic constant-currency, lifted by audio interfaces. Audio Reproduction revenue dropped 0.6% reported, but ticked up 0.5% on that organic constant-currency basis. In Audio Reproduction, the Americas were up 10.8% organic, but APAC fell 4.8%.
Focusrite finds itself open to two different investor takes. The company pointed to the U.S. as a growth spot, but also said gross margin still improved even with tougher U.S. tariffs. In the same results report, Focusrite mentioned last year’s U.S. sales were timed to cut tariff exposure, making year-on-year growth figures less straightforward.
A filing on July 2 showed another governance point. Carroll and CFO Sally McKone got bonus shares for the last six months of the 18-month transition year. They got the shares at no cost. The company said they can’t usually sell or transfer them for two years.
This week looks tight, but there’s still room to trade. The 4.64p final dividend goes ex-dividend July 9, with July 10 as the record date. Shareholder sign-off is scheduled for the Aug. 4 annual meeting and payment follows on Aug. 7.
