TPXimpact Holdings PLC (TPX) AI Stock Analysis

• Market Cap: £31.86M
• Dividend Yield: N/A
• Average Volume (3M): 62.16K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.46
• Revenue Growth: -5.84%
• EPS Growth: 55.30%
• Country: UK
• Employees: 510
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.02
• Shares Outstanding: 95,184,510
• 10 Day Avg. Volume: 46,680
• 30 Day Avg. Volume: 62,156
• PEG Ratio: 0.04
• Price to Book (P/B): 0.49
• Price to Sales (P/S): 0.25
• P/FCF Ratio: 13.58
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.04
• Revenue Forecast (FY): £74.95M

• Rating: 52 Neutral
• Price Target: 35.00 p ▲(62.79% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held back primarily by weak financial performance (declining revenues, ongoing losses, and poor cash flow). Technicals are supportive with strong trend and positive MACD, but extremely overbought RSI/Stoch signals add near-term risk. Valuation is also constrained by loss-making earnings (negative P/E) and no dividend data.

Positive Factors

Recurring services revenue

TPXimpact's revenue model includes longer-running contracts, retainers and managed-support engagements that create recurring fee streams. This durable services income can stabilize cash flow and utilization over quarters, improving predictability versus one-off projects.

Comprehensive service offering

A broad capability set across design, engineering, data, cloud and transformation gives TPX durable competitive positioning. End-to-end delivery suits large public-sector programmes, enabling higher contract sizes, cross-sell opportunities and client stickiness over multiple programme cycles.

Manageable leverage

The balance sheet shows moderate debt levels and a stable equity ratio, implying manageable leverage. This financial flexibility supports continued investment in delivery capacity and bidding for multi-year contracts without immediate refinancing pressure.

Negative Factors

Declining revenue

Negative revenue growth reduces scale and erodes operating leverage. Over several quarters this can depress utilisation, shrink addressable negotiated margins on fixed-price work, and limit the company's ability to invest in capability or compete for larger transformation programmes.

Persistent losses and margins

Sustained negative net income and EBIT margins indicate structural profitability issues. Continued losses reduce reinvestable cash, increase reliance on external funding, and can impair the ability to retain senior talent and bid competitively for profitable, large-scale contracts.

Weak cash generation

Declining free cash flow and poor operating cash conversion undermine liquidity and capital flexibility. Over months this raises refinancing and working-capital risk, constrains hiring and technology investment, and could force trade-offs between growth initiatives and balance-sheet repair.

TPXimpact Holdings PLC Business Overview & Revenue Model

Company Description

TPXimpact Holdings PLC, together with its subsidiaries, provides digital native technology services in the United Kingdom, Bulgaria, Switzerland, the United States of America, Norway, and internationally. It operates through three segments: Consulting and Innovation, Software Development, and Automation. The company provides service and UX design, digital design and build, content and campaign management, and user and audience research services. It also offers XaaS services, such as cloud management, talent as a service, agile management, and distributed software development. In addition, the company provides automation services comprising RPA implementation, chatbots and voice interfaces, and Devops. Further, it offers analytics, reporting and BI machine, API design and development, and business and data insight services. Additionally, the company provides strategic and management consultancy, digital service consultancy, and software development services. It serves commercial, government, and non-government sectors. The company was formerly known as The Panoply Holdings plc and changed its name to TPXimpact Holdings PLC in September 2021. TPXimpact Holdings PLC was incorporated in 2016 and is based in London, the United Kingdom.

How the Company Makes Money

TPXimpact primarily makes money by delivering professional services and project work to clients, generating revenue from fees for consulting, design, engineering, data, and transformation services. Its revenue model is largely services-based: (1) time-and-materials engagements where clients pay for consultant and delivery team time (day rates/hourly rates) for activities such as discovery, service design, engineering, and programme support; (2) fixed-price or milestone-based projects where the company is paid for delivering agreed outputs (e.g., a digital service build, a platform implementation, or a transformation workstream) with payments linked to milestones or acceptance; and (3) longer-running contracts/retainers and managed-style support arrangements that provide more recurring revenue where TPXimpact provides ongoing delivery capacity, operational support, or continuous improvement for digital services. Revenue is influenced by utilisation of delivery staff, contract win rates, scope and duration of transformation programmes, and the mix of public sector versus private sector work. Information on specific partnerships, product licensing income, or other non-services revenue streams is null.

TPXimpact Holdings PLC Financial Statement Overview

Summary

Weak fundamentals driven by declining revenue growth, persistent losses (negative net income and EBIT margins), and pressured cash generation. Balance sheet leverage appears manageable, but negative return on equity and weak free cash flow raise financial risk.

Income Statement

TPXimpact Holdings PLC has experienced declining revenue growth and profitability over recent years. The revenue growth rate has turned negative, and the company has reported negative net income and EBIT margins, indicating operational challenges. Despite a positive gross profit margin, the overall financial performance is weak due to consistent losses.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, which suggests a manageable level of leverage. However, the negative return on equity indicates that the company is not generating sufficient returns on shareholders' investments. The equity ratio is stable, reflecting a reasonable proportion of equity financing.

Cash Flow

Cash flow performance is concerning, with a significant decline in free cash flow growth. The operating cash flow to net income ratio is low, indicating challenges in converting earnings into cash. The free cash flow to net income ratio is also weak, highlighting potential liquidity issues.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	75.72M	77.34M	84.27M	83.68M	79.71M	51.10M
Gross Profit	22.62M	22.13M	21.18M	20.91M	24.37M	16.13M
EBITDA	-402.00K	-2.27M	-14.19M	-11.98M	9.14M	1.99M
Net Income	-7.30M	-9.15M	-20.37M	-19.00M	2.50M	-2.23M
Balance Sheet
Total Assets	56.16M	66.89M	82.94M	115.12M	125.67M	104.47M
Cash, Cash Equivalents and Short-Term Investments	0.00	4.65M	8.88M	6.77M	7.91M	5.73M
Total Debt	8.00M	14.47M	17.77M	25.79M	19.31M	13.44M
Total Liabilities	17.56M	27.56M	35.11M	48.44M	46.99M	43.82M
Stockholders Equity	38.60M	39.33M	47.84M	66.69M	78.68M	60.65M
Cash Flow
Free Cash Flow	2.24M	1.43M	7.33M	-2.37M	6.14M	5.18M
Operating Cash Flow	2.25M	1.43M	7.54M	-1.79M	6.68M	5.64M
Investing Cash Flow	-8.00K	89.00K	5.88M	-2.68M	-8.01M	-11.53M
Financing Cash Flow	-7.52M	-5.81M	-11.23M	3.35M	3.69M	6.92M

TPXimpact Holdings PLC Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 21.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TPX, the sentiment is Neutral. The current price of 21.5 is below the 20-day moving average (MA) of 37.15, below the 50-day MA of 28.46, and above the 200-day MA of 21.24, indicating a neutral trend. The MACD of 2.15 indicates Positive momentum. The RSI at 51.35 is Neutral, neither overbought nor oversold. The STOCH value of 9.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:TPX.

TPXimpact Holdings PLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SCT	75 Outperform	£2.27B	24.52	42.93%	2.05%	51.50%	11.62%
TRD	72 Outperform	£52.29M	14.63	44.27%	2.69%	30.01%	138.65%
MTEC	69 Neutral	£55.98M	15.19	10.36%	―	20.40%	―
CCC	68 Neutral	£3.19B	20.00	17.42%	2.43%	21.86%	0.86%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RCN	54 Neutral	£186.39M	18.70	4.57%	3.01%	-31.46%	297.44%
TPX	52 Neutral	£31.86M	-2.77	-17.47%	―	-5.84%	55.30%

TPXimpact Holdings PLC Corporate Events

TPXimpact Lifts EBITDA Outlook as New Public Sector Contracts Top £110m

TPXimpact Holdings has upgraded its adjusted EBITDA guidance for the year ending 31 March 2026 to at least £7m, up from a prior range of £6m to £7m, after strong third-quarter trading and continued momentum into the fourth quarter. Net debt is expected to remain below £6m, implying leverage of about 0.85 times EBITDA, marking the successful completion of its three-year turnaround focused on improving profitability and reducing debt.

Year-to-date new business wins now exceed £110m, underpinned by major UK public sector contracts with DEFRA, NHS England and HM Land Registry, reinforcing TPXimpact’s positioning in government digital services. The company has also appointed Emma Broom as Chief Growth Officer to bolster its sales capabilities, as the board signals confidence in its growth trajectory and prepares a new three-year plan starting in FY27.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £33.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

TPXimpact wins £11m uplift in HM Land Registry digital modernisation deal

TPXimpact Holdings PLC, a digital transformation specialist focused on UK public services, works in agile, multidisciplinary teams to help organisations modernise through human-centred design, data and technology. The business has been building its reputation as an alternative provider to traditional players in the UK public sector technology market.

The company has secured an £11 million uplift to its strategic delivery partnership with HM Land Registry, extending work to modernise the agency’s systems and improve service speed and quality. The collaboration is advancing AI-based automation, data validation, geospatial tools, architecture modernisation, and migration from legacy mainframes, reinforcing TPXimpact’s role in large-scale government digital programmes ahead of its upcoming Q3 trading update.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £33.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

TPXimpact Wins £39m DEFRA Digital Transformation Contract

TPXimpact Holdings PLC has secured a £39 million, four-year contract with the UK Department for Environment, Food & Rural Affairs to deliver product development services under DEFRA’s new Digital, Data and Technology resourcing model. The award strengthens TPXimpact’s role as an incumbent digital partner to UK public services and places the company at the centre of DEFRA’s environmental and rural digital agenda.

Management said the contract underscores DEFRA’s trust in TPXimpact to deliver complex, nationally critical programmes at scale, enhancing services for farmers and citizens while supporting national sustainability goals. The win is expected to reinforce the Group’s positioning as a leading alternative digital transformation provider in the public sector and highlights its role in delivering digital services with lasting social and environmental impact.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £26.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

TPXimpact Expands Employee Share Incentive Plan With New Share Allocation

TPXimpact Holdings PLC has expanded its employee Share Incentive Plan, with trustees acquiring 16,353 partnership shares on the market for allocation to staff. The shares were bought at £0.26245 each and are part of a scheme that allows employees to buy shares through tax-efficient salary sacrifice, reinforcing staff participation in the company’s equity.

In addition to the partnership shares, the trustees granted 16,353 matching shares on a one-for-one basis, using a mix of stock transferred from the company’s Employee Benefit Trust and recycled unallocated SIP shares. The move underscores TPXimpact’s strategy of aligning employee interests with long-term corporate performance as it consolidates its position in the UK public services digital transformation market.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £26.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

TPXimpact wins £22m NHS England contract for national vaccination programme

TPXimpact Holdings PLC has secured a £22 million, two-year digital transformation contract with NHS England under the Digital Outcomes 6 framework, supporting the national vaccination programme. The work will focus on digital and data services across maternity, neonatal and school-age vaccination pathways, enhancing systems used by healthcare professionals in GP practices, schools and community settings.

The contract forms part of NHS England’s Digital Prevention Services Portfolio, a key initiative aimed at preventing ill health and enabling early intervention. Management describes the win as strategically important, reinforcing TPXimpact’s role in large-scale government programmes and marking further progress in its post-turnaround growth strategy within the UK public services digital transformation market.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £25.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

TPXimpact Allocates New Shares to Staff Under Incentive Plan

TPXimpact Holdings PLC has allocated 21,860 Partnership Shares and an equivalent 21,860 Matching Shares to employees under its Share Incentive Plan, following the trustees’ purchase of shares on the market. The tax-efficient scheme, which uses salary sacrifice and a one-for-one matching of ordinary shares, is intended to reward and further align employees with the company’s performance, reinforcing its efforts to retain talent and strengthen engagement as it builds its position as a leading alternative digital transformation provider to UK public services.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £22.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.