Focusrite Plc · LSE:TUNE
Focusrite — H1 FY27 Earnings Presentation
30 slides from Focusrite's earnings presentation, October 2026
Slide 1: Results for the 6 months to 31 August 2026
Results for the 6 months to 31 August 2026 Platform for Sustainable Growth 1
Slide 2: Agenda
Agenda Tim Carroll Sally McKone Summary & Highlights Chief Executive Officer Chief Financial Officer Slide 3 Financial Review Slide 7 Operational Review Slide 12 Summary & Outlook Slide 21 Additional Information Slide 25 Results for the 6 months ended 31 August 2026 2
Slide 3: Summary and Highlights
Summary and Highlights Results for the 6 months ended 31 August 2026 3
Slide 4: Key takeaways from today
Key takeaways from today Strengthened Actions to improve Premium brands balance sheet profitability taking share in a supporting future delivering results growing market growth Current trading robust and full year FY27 results in line with expectations Results for the 6 months ended 31 August 2026 4
Slide 5: Financial highlights: Improved profitability
Financial highlights: Improved profitability 6 months to August 2026 Revenue growth1 Gross Margin Adjusted Operating Adjusted diluted EPS Profit2 2.5% 46.6% £11.1 million 12.8p 6 m to August +1.7% points 14.7% growth 25% growth Content Creation Improvement in Gross profit Operating profit gr
Slide 6: Operational highlights: Platform for growth in place
Operational highlights: Platform for growth in place 6 months to August 2026 Ongoing portfolio New Platform Routes to Market Operational development and development improving excellence: market led securing future customer intimacy product cost innovation innovation and driving growth reductions Pro
Slide 7: Financial Review
Financial Review Results for the 6 months ended 31 August 2026 7
Slide 8: Income statement: improving profitability
Income statement: improving profitability Restated1 6m to August 6m to August £m 2026 2025 Change Revenue increased 2.7% (Organic Revenue 90.3 88.0 +2.7% Constant Currency (OCC) 2.5%) Cost of sales (48.3) (48.5) Gross margin improvement of 1.7% Gross profit 42.0 39.5 +6.4% points Administrative
Slide 9: Pricing power supporting improved gross margins
Pricing power supporting improved gross margins 48.0% 0.3% 47.0% 0.3% 1.4% 0.3% 46.6% 46.0% Gross margin increased by 1.7% points over prior year 45.0% 44.9% Cost savings delivered through targeted changes with contract 44.0% manufacturers 43.0% Tariff costs decreased but remain at elevated le
Slide 10: Cashflow: Net debt at £1.5m reflects tariff refunds and stock reductions
Cashflow Net debt at £1.5m reflects tariff refunds and stock reductions Restated1 6m to August 6m to August £m 2026 2025 Interest reducing as RCF is repaid, Adjusted EBITDA2 15.8 14.3 £5.9 million repaid since August Non cash and adjusting items 2.6 (0.3) 2025, drawdown now at £24.5 Movements in w
Slide 11: Balance sheet: Working capital continues to reduce
Balance sheet Working capital continues to reduce Restated1 31 August 31 August 28 February £m 2026 2025 2026 Intangible assets 75.8 84.0 76.2 Tangible assets 10.8 10.5 11.6 Inventories 39.4 40.8 44.1 Strong balance sheet with minimal leverage Debtors 38.0 42.8 31.9 Working capital Total current
Slide 12: Operational Review
Operational Review Results for the 6 months ended 31 August 2026 12
Slide 13: Content Creation driving profitable growth
Content Creation driving profitable growth1 Content Creation 8.8 Revenue and +16.1% 6m to August 6m to August 2026 2025 growth by region 27.8 £m £m Change 1 6m to Aug 26 £66.9m +5.0% -4.6% Revenue 66.9 63.6 +5.0% (OCC) organic constant 30.3 Gross margin % 48.3% 46.0% +2.3% points currency +12.2% Ame
Slide 14: Content Creation: Strong underlying demand supporting growth
Content Creation Strong underlying demand supporting growth 6m to 6m to August 2026 August 2025 Reported Content Creation £m £m growth OCC1 growth Global growth Americas 27.8 29.2 -4.8% -4.6% Growth across all hardware brands, with EMEA 30.3 26.9 12.9% 12.2% Novation particularly strong at 17% due
Slide 15: Content Creation: New products supporting growth
Content Creation New products1 supporting growth 10% 6.0% Range refreshes and new 9% products 8% Product innovation is a key enabler of our premium price position 7% New products (launched in the last 6% 12 months) driving net growth of 2.1% points % growth 5% 3.9% 5.2% Offsetting one off anni
Slide 16: Audio Reproduction: Taking share in key market
Audio Reproduction Taking share in key market 6m to August 6m to August 2026 2025 Reported OCC1 Audio Reproduction £m £m growth growth Strong growth in orders Americas 8.6 7.6 13.5% 13.8% Success in US with long term EMEA 9.7 10.1 -3.5% -4.1% project pipeline delivering sales APAC 5.2 6.7 -24.0% -
Slide 17: Audio Reproduction: Robust order book and product pipeline
Audio Reproduction Robust order book and product pipeline Orders convert to shipments at very different speeds KEY Pre-order pipeline Order book → shipment Order booked 0-3 Months 3-6 Months 6-9 Months 9-12 Months 12-15 Months 15-18 Months Consultant-led install 12–18 months Design & spec Tender & a
Slide 18: Maintaining our Market Leadership
Maintaining our Market Leadership Market leading products consistently ranked highly with resellers Our brands remain in top 5 most popular products across Thomann Sweetwater Amazon main resellers in the US and (large EU online retailer) (large US online retailer) EU Best seller/recommended Regula
Slide 19: Route to market refinement driving growth and margin expansion
Route to market refinement driving growth and margin expansion Group Revenue: Japan Japan Creation of direct to market reseller in key Jan 25 Launch Date Japanese market 2,000 Hybrid model 20% growth in the period, with similar Revene £000 1,500 growth in profits 1,000 Improved visibility and
Slide 20: Operational Excellence working with contract manufacturers to drive cost reductions
Operational Excellence working with contract manufacturers to drive cost reductions Contract Cost reduction programmes generating Manufacturer over £1m of savings Change Focusrite working with contract Packaging manufacturers to deliver cost reductions relating to ‒ Lower cost, but sustainable pac
Slide 21: Summary & Outlook
Summary & Outlook Review Results for the 6 months ended 31 August 2026 21
Slide 22: Current trading and outlook
Current trading and outlook Current Trading Trading since the period end has been encouraging, with healthy underlying demand across both divisions. As previously indicated revenue and profitability are expected to be more heavily weighted towards the first half, whilst noting this impact, our perfo
Slide 23: Summary
Summary Actions to improve Premium brands Strengthened balance Capital profitability delivering taking share in a sheet supporting Markets Day results growing market future growth November 25th Global sales growth, Record year for Novation Strong cash generation: gross margin expansion support
Slide 24: Capital Markets Day
Capital Markets Day DATE Innovation and delivery Product innovation, FAESIC and partnerships Wednesday 25 November 2026 1pm Customer intimacy VENUE Our customers and our routes to market Courthouse Hotel, Soho Operational excellence Integration driving efficiency ON THE DAY Product demonstrations De
Slide 25: Thank you Q&A
Thank you Q&A focusriteplc.com
Slide 26: Additional Information
Additional Information Results for the 6 months ended 31 August 2026 26
Slide 27: Income statement: 6 months to August 2025
Income statement: 6 months to August 2025 LESS As previously As previously reported reported Restated 12m to August 6m to February 6m to August Impact of 6m to August £m 2025 2025 2025 restatements2 2025 Revenue 168.9 80.9 88.0 88.0 Cost of sales (93.8) (45.3) (48.5) (48.5) Gross profit 75.1 35.6 39
Slide 28: Foreign exchange
Foreign exchange 6m Aug 26 6m Aug 25 Exchange Rates £m £m Average Natural hedge for USD US$:£ 1.34 1.32 US and APAC markets €:£ 1.15 1.18 revenue is USD based. Year end rate Total c50% of revenue US$:£ 1.35 1.35 but almost all cost of €:£ 1.17 1.15 sales so minor impact overall Euro hedged c75
Slide 29: Disclaimer
Disclaimer The contents of this document (the “Presentation”) and any securities of Focusrite plc (the “Company”) referred to in this Presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”), as amended. This Presentation
Slide 30: 40 years of Enriching lives through music
40 years of Enriching lives through music focusriteplc.com