Bravura Solutions (ASX: BVS) has announced a return to profitability for the first half of the 2025 financial year, with revenue of $127.5 million underpinned by its new “energise, build and grow” strategy.

The result represents a marginal 0.4% increase on the previous corresponding period, while the company’s EBITDA jumped by 52.1% to $43.8m, compared to $28.8m in the first half of 2024.

Underlying net profit after tax of $11.3m represented an improvement of $13m on the $1.7m loss recorded in the previous year.

Guidance upgrade

Based on the turnaround in financial performance, Bravura has upgraded its guidance for 2025 to gross revenue of between $248m and $252m (compared to the previous guidance of between $241m and $245m).

The company is expecting EBITDA of between $46m and $49m (previously between $41m and $44m).

Cash EBITDA guidance for 2025 has also been adjusted to between $38m and $41m (previously between $33m and $36m).

Lacklustre performance

Bravura reported a lacklustre annual performance in 2023, resulting in an urgent change to its corporate structure.

Current chief executive officer Andrew Russell, chair Matthew Quinn and a new board of directors were all installed during this period.

The company also introduced its “energise, build and grow” strategy with a view to rebuilding trust with clients through consistent high-performance execution, business improvement and client focus.

Refreshed approach

Mr Russell said Bravura had returned to profitability with a healthy balance sheet and a refreshed business approach.

“We are executing the four strategic pillars of our strategy and delivering consolidated EBITDA margin expansion and profitability improvement through revenue growth and cost reduction,” he said.

“We are pleased to inform shareholders that our [financial] performance is anticipated to be ahead of the guidance previously provided, which is further confirmation of the execution progress of our strategy to reset and energise the Bravura business.”

Mr Russell said the company was now in a position to restart dividend payouts to shareholders, including a special dividend in relation to net profit after tax from the recent sale of Bravura’s Sonata software platform licence to Fidelity International.