Broadband supplier Fibrus has reached a significant milestone as it releases its latest results.
The firm said it had achieved EBITDA breakeven in March.
EBITDA, short for earnings before interest, taxes, depreciation, and amortization, is an alternate measure of profitability to net income. It is used to assess a company’s profitability and financial performance.
Fibrus said its revenue was up 55% year-on-year and now supplies 113,500 customers in Cumbria and Northern Ireland.
Its results reveal:
- Annualised Recurring Revenue (ARR) for the month was £35 million, up from £22 million the previous year.
- Customer growth increased 45%, rising to 113,500 customers at March 2025
- Customer penetration rose from 23% to 28%, with the 30% milestone expected to be achieved soon
- Average Revenue Per User for March hit £25.53, up £1.73 (7%) year-on-year.
- 71,000 ready for service premises added in FY25, a 21% increase in our addressable footprint, driven largely by rural build programmes
- Customer churn remains at 5% per annum
- Operating expenses fell 3% year-on-year, despite rising direct costs (in particular PIA)
Fibrus made significant strides in Cumbria, with over half of the 71,000 premises passed in the past 12 months derived from its rollout in the region.
This included the successful connection of more than 10,000 hard-to-reach rural premises as part of the BDUK programme, with Fibrus reaching its second major delivery milestone under the contract at the end of March.
Dominic Kearns, Fibrus’ co-founder and CEO, said: “Breaking even is a huge moment for us, the same with any large-scale long-term infrastructure project. It proves our model works when you get the execution right.
“Having recently been awarded 48th spot in the Deloitte 2024 EMEA Technology Fast 500 list, and the fastest-growing tech company in Northern Ireland, we are building momentum and have our sights firmly fixed on sustainable business growth.
“We’re building a better broadband company from the ground up: more customers, stronger margins, low churn, and a lean operation.
“We’ve proved we’re not here to follow the big players. We’re now the largest provider of full fibre broadband on our footprint.”
