Pinewood Technologies Group has announced its financial results for the 6 months ended 30 June 2025.
Revenue was up 21.7% to £19.6m, driven by increased client spend and the successful integration of the Seez AI solution. Gross profit was up 17.2% to £17.0m, with a gross profit margin of 86.7%. H1 FY25 underlying profit before tax of £4.4m was up 10.0%.
Bill Berman, Chief Executive Officer of Pinewood Technologies Group, said: “This has been another half of great progress for Pinewood.AI, delivering on our strategic objectives and positioning the business for continued accelerated growth.
“Our strong year-on-year performance reflects the onboarding of major new customers and increased spend across our existing customer base.”
The Lithia acquisition further strengthens Pinewood.AI’s expertise and product suite, particularly in the delivery of AI-powered chatbots.
The business is on track for pilot in two Lithia US stores in Q4 FY25, with the wider roll-out to Lithia US stores starting in mid-FY26.
Pinewood.AI also announced that it has entered into a five-year contract with Lithia to roll out the Pinewood.AI platform in North America. By the end of 2028, this contract is expected to generate an estimated $60m of revenue per year.
The Group’s priority in the UK in H2 FY25 remains to continue the system implementations with Lookers and to begin the Marshall Motor Group implementation in Q1 2026.
Pinewood.AI continues to look to add more Top 100 dealer groups to its customer base in the future.
Underlying EBITDA was up 14.5% to £7.9m, with an underlying EBITDA margin of 40.3%.
Berman added: “As a result of this positive momentum and our exciting pipeline of new customers, I am pleased that we have been able to set an ambitious new underlying EBITDA target of £58-62m for FY28.
“We are confident in the scale of the global opportunity in the market, and we are looking forward to delivering on this in the years ahead.”
