Fenergo’s profits almost double as Irish fintech continues to expand

22 December 2025- Dublin, Ireland -Irish fintech leader Fenergo has reported strong financial performance for the year ended 31 March 2025, with revenue increasing by more than 7% to €149 million, according to newly filed accounts.

Pretax profit rose sharply to €21.1 million, almost double the €12 million recorded in the prior year, reflecting continued momentum across the business and growing demand for Fenergo’s SaaS-based solutions.

A key driver of this performance was the continued expansion of recurring software licence revenue, which increased 15% year-on-year to €115 million, up from €100.3 million in FY2024. Fenergo began its transition from an on-premise model to software as a service (SaaS) in 2018, a shift that was further accelerated during the Covid-19 pandemic.

Marc Murphy, Founder and CEO of Fenergo, said:

“Our move to SaaS has been transformational. We built our SaaS products on AWS, enabling faster and easier deployment for our customers. On top of that, we’ve developed an agentic AI layer, which has significantly improved efficiency across everything we do.”

Operating profit increased 66% to €12.6 million, while net profit rose to €18.6 million, up from €11 million the previous year. Fenergo paid €2.5 million in corporation tax during the period.

Cash generated from operating activities grew 13% to €36 million, reflecting the company’s ability to convert revenue into liquidity to support ongoing operations and continued investment in product development.

Marc Murphy also highlighted the impact of operational discipline and financial leadership on the company’s growth trajectory.

“We’ve really systemised how we run the business,” he said. “That allows us to put greater volume through the organisation, driving both scale and efficiency.”

Strong International Performance

Fenergo continues to see strong demand across global markets. Revenue from US customers reached €36 million, while the UK generated €14.5 million. Revenues from France, Sweden and Norway were just under €6 million each. Australia remains one of Fenergo’s largest individual markets, contributing more than €20 million in revenue during the year.

Investment in Growth and Talent

The company invested heavily in its people, paying over €63 million in wages during the year. With more than 500 employees, this equates to an average salary of approximately €126,000, reflecting the highly skilled nature of Fenergo’s workforce.

Earlier this year, Fenergo announced plans to invest €100 million in global expansion, creating 500 new jobs worldwide, including 300 roles in Dublin. The majority of new positions will be in software engineering, senior AI engineering, and product management, with roles to be created over the next three years.