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TPXimpact Holdings PLC (GB:TPX)
LSE:TPX

TPXimpact Holdings PLC (TPX) AI Stock Analysis

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GB:TPX

TPXimpact Holdings PLC

(LSE:TPX)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
22.00p
▲(2.33% Upside)
The score is held back primarily by weak financial performance (declining revenues, ongoing losses, and poor free cash flow). Technicals are a partial offset with improving momentum and price above key moving averages, while valuation remains constrained by loss-making earnings and no indicated dividend support.
Positive Factors
Diversified revenue model
A mix of project work, subscriptions and consultancy creates multiple recurring and non-recurring cash streams. That diversification reduces dependence on single large contracts, supports steadier revenue recognition over months, and helps stabilize cashflow during project cycles.
Public and private sector exposure
Serving both government and commercial clients exposes TPX to structurally steady demand for digital transformation and IT modernisation. Public-sector contracts can provide multi-year revenue visibility while commercial clients diversify cyclical risk, supporting medium-term revenue predictability.
Manageable leverage on balance sheet
A moderate debt position offers financial flexibility to invest in platform, partnerships or acquisitions without acute solvency risk. Stable equity ratio and limited leverage also mean the company can access capital markets or debt financing if needed to support transformation initiatives over the coming months.
Negative Factors
Declining revenue and persistent losses
Negative top-line trends combined with recurring net losses erode margin capacity and limit ability to reinvest in product and sales. If sustained, shrinking revenue and negative EBIT reduce competitive options, strain stakeholder confidence and make operational turnaround more difficult over the medium term.
Weak free cash flow and cash conversion
Poor conversion of earnings into cash constrains internal funding for growth, increases reliance on external financing, and raises liquidity risk. Over a 2–6 month horizon this limits ability to sustain investments in cloud, tooling or talent and reduces runway for strategic initiatives.
Negative return on equity
A negative ROE indicates the business is destroying shareholder value rather than creating it. Persistently negative returns impair capital raising, reduce investor support for strategic initiatives and signal that operational improvements or structural changes are required to restore long-term viability.

TPXimpact Holdings PLC (TPX) vs. iShares MSCI United Kingdom ETF (EWC)

TPXimpact Holdings PLC Business Overview & Revenue Model

Company DescriptionTPXimpact 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 MoneyTPX generates revenue through a diversified business model that includes project-based contracts, subscription services, and consultancy fees. Key revenue streams include income from digital transformation projects, ongoing maintenance and support services for software solutions, and recurring revenue from cloud and hosting services. The company also benefits from strategic partnerships with technology providers and industry leaders, which enhance its service offerings and extend its reach in the market. Additionally, TPX seeks to expand its revenue through new client acquisitions and by entering new sectors, thereby leveraging its expertise in digital transformation.

TPXimpact Holdings PLC Financial Statement Overview

Summary
TPXimpact Holdings PLC faces significant financial challenges with declining revenues, persistent losses, and weak cash flow generation. Despite a moderate debt-to-equity ratio, the negative returns and cash flow issues pose risks to financial stability and future growth.
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue75.72M77.34M84.27M83.68M79.71M51.10M
Gross Profit22.62M22.13M21.18M20.91M24.37M16.13M
EBITDA-402.00K-2.27M-14.19M-11.98M9.14M1.99M
Net Income-7.30M-9.15M-20.37M-19.00M2.50M-2.23M
Balance Sheet
Total Assets56.16M66.89M82.94M115.12M125.67M104.47M
Cash, Cash Equivalents and Short-Term Investments0.004.65M8.88M6.77M7.91M5.73M
Total Debt8.00M14.47M17.77M25.79M19.31M13.44M
Total Liabilities17.56M27.56M35.11M48.44M46.99M43.82M
Stockholders Equity38.60M39.33M47.84M66.69M78.68M60.65M
Cash Flow
Free Cash Flow2.24M1.43M7.33M-2.37M6.14M5.18M
Operating Cash Flow2.25M1.43M7.54M-1.79M6.68M5.64M
Investing Cash Flow-8.00K89.00K5.88M-2.68M-8.01M-11.53M
Financing Cash Flow-7.52M-5.81M-11.23M3.35M3.69M6.92M

TPXimpact Holdings PLC Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price21.50
Price Trends
50DMA
18.75
Positive
100DMA
17.75
Positive
200DMA
19.42
Positive
Market Momentum
MACD
0.35
Positive
RSI
49.01
Neutral
STOCH
26.49
Neutral
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 21.54, above the 50-day MA of 18.75, and above the 200-day MA of 19.42, indicating a neutral trend. The MACD of 0.35 indicates Positive momentum. The RSI at 49.01 is Neutral, neither overbought nor oversold. The STOCH value of 26.49 is Neutral, 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

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
£43.57M22.8744.27%2.69%30.01%138.65%
69
Neutral
£51.50M39.2510.36%20.40%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
54
Neutral
£190.36M76.771.35%3.01%-31.46%297.44%
50
Neutral
£18.93M-2.52-17.47%-5.84%55.30%
50
Neutral
£31.93M-6.37-67.57%-12.11%-106.04%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:TPX
TPXimpact Holdings PLC
20.50
-17.50
-46.05%
GB:TIA
IDE Group Holdings Plc
82.50
50.00
153.85%
GB:RCN
Redcentric
119.00
-1.81
-1.50%
GB:TRD
Triad Group plc
250.00
-42.56
-14.55%
GB:MTEC
Made Tech Group PLC
36.50
11.50
46.00%

TPXimpact Holdings PLC Corporate Events

Business Operations and Strategy
TPXimpact Allocates New Shares to Staff Under Incentive Plan
Positive
Jan 9, 2026

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.

Business Operations and Strategy
TPXimpact Enhances Employee Engagement with Share Incentive Plan
Positive
Dec 9, 2025

TPXimpact Holdings PLC announced the acquisition of 20,939 shares by SIP Trustees for its Share Incentive Plan, rewarding employees with tax-efficient salary sacrifice and matching share awards. This initiative aims to incentivize employees and enhance their engagement, reflecting the company’s commitment to fostering a supportive and motivating work environment.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £24.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Delistings and Listing ChangesPrivate Placements and Financing
TPXimpact Holdings PLC Announces Share Issuance and CEO Dealings
Neutral
Dec 2, 2025

TPXimpact Holdings PLC announced the issuance and allotment of 2,211,646 ordinary shares following the exercise of options under its FY22 LTIP and Share Awards Plan. This includes options exercised by CEO Bjorn Conway, who increased his beneficial holding in the company. The new shares will be admitted to trading on AIM, impacting the company’s total voting rights and share capital structure.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £14.50 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
TPXimpact Holdings PLC Reports Improved Profitability and Reduced Debt in Interim Results
Positive
Dec 2, 2025

TPXimpact Holdings PLC has announced its unaudited interim results for the six months ended 30 September 2025, highlighting improved profitability and reduced net debt as key achievements of its three-year turnaround plan. Despite a 4.3% decline in revenue, the company reported a 39% increase in adjusted EBITDA, with the board reaffirming its guidance of £6-7m for the current year. The company has streamlined its operations into three business units, improved employee retention, and reduced headcount, while continuing to invest in business development and account management. The market conditions are normalizing, and TPXimpact is poised for future growth, with expectations of further debt reduction and a new medium-term plan to be articulated alongside full-year results.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £14.50 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Business Operations and Strategy
TPXimpact Holdings PLC Appoints New Nominated Adviser and Broker
Positive
Nov 24, 2025

TPXimpact Holdings PLC has appointed Cavendish Capital Markets Limited as its new Nominated Adviser and sole Broker, effective immediately. This strategic move is expected to enhance the company’s market positioning and operational capabilities, potentially impacting its stakeholders positively by strengthening its advisory and brokerage support.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £14.50 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Business Operations and Strategy
TPXimpact Holdings Enhances Employee Incentives with Share Acquisition
Positive
Nov 14, 2025

TPXimpact Holdings PLC announced the acquisition of 35,135 shares by the SIP Trustees as part of its Share Incentive Plan (SIP) to reward and incentivize employees. The plan involves a tax-efficient salary sacrifice and a free matching award of shares, with the recent allocation being transferred from the Company’s Employee Benefit Trust.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £14.50 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
TPXimpact Holdings PLC Reports Strong First Half Performance and Operational Efficiency
Positive
Nov 5, 2025

TPXimpact Holdings PLC has provided an update on its first half performance for the financial year ending 30 September 2025, maintaining confidence in achieving its full-year guidance for Adjusted EBITDA of £6-7m. The company has improved operational efficiency by streamlining into three client-facing brands and expects net debt to be below £7.5m, driven by stronger profitability and disciplined financial management. The CEO, Björn Conway, highlighted the company’s momentum in delivering work aligned with government priorities and consistent improvements in financial metrics, with plans to share detailed half-year results on 2nd December.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £14.50 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Business Operations and Strategy
TPXimpact Enhances Employee Engagement with Share Incentive Plan
Positive
Oct 14, 2025

TPXimpact Holdings PLC has announced updates to its Share Incentive Plan (SIP), with the acquisition and allocation of shares to employees as part of a tax-efficient salary sacrifice scheme. This initiative is designed to reward and incentivize employees, enhancing their engagement and aligning their interests with the company’s growth. The recent transactions in August and October demonstrate TPXimpact’s commitment to employee participation and retention, potentially strengthening its position in the digital transformation industry.

The most recent analyst rating on (GB:TPX) stock is a Hold with a £16.00 price target. To see the full list of analyst forecasts on TPXimpact Holdings PLC stock, see the GB:TPX Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 07, 2026