Trading Update

For release: 07:00, 16 September 2026

Focusrite plc

("Focusrite", "the Group" or "the Company")

Trading Update

Improved profitability, margins and cash generation; remain confident in meeting expectations for the full year

Focusrite plc (AIM: TUNE), the global music and audio products group supplying hardware and software used by professional and amateur musicians and the entertainment industry, provides the following update on trading for the six months ended 31 August 2026, ahead of the publication of its interim results, which it expects to announce in early November 2026.

The Group is expected to deliver 3% revenue growth, improved underlying operating profit and strong cash generation in the first half of the year.  Gross margins improved during the period, reflecting continued pricing discipline, active supply chain management, and the Group's ongoing focus on operational efficiency. The results also benefitted from approximately £2.3 million of US tariff refunds relating to prior periods, which are expected to be treated as an adjusting item in the interim results.

Within Content Creation continued healthy underlying demand across the division supported 4% revenue growth, with growth across all regions.  Orders for the period within Audio Reproduction grew at 12% compared to the prior half year, reflecting continued strong demand for its broad product offering, with the order book in August 2026 being 9% higher than at the same point in the prior year.  However, revenue in the division declined by 4%, with strong growth in the US being offset by weakness in China. 

As previously indicated, revenue and profitability are expected to be more heavily weighted towards the first half of the current financial year reflecting the phasing of sales into distribution channels ahead of the Winter Holiday season.

The Group has also continued to generate strong cash flows, with net debt at 31 August 2026 expected to have reduced significantly to approximately £2 million, compared with £8.6 million at 28 February 2026. This reflects both strong underlying cash generation as well as the receipt of US tariff refunds.

The strong first half performance, healthy continuing underlying demand across the Group's portfolio and disciplined management of margins and costs provide the Board with confidence in the Group's prospects. The Board's expectations for the full year ending 28 February 2027 remain unchanged.*

Tim Carroll, Chief Executive Officer, commented:

"We are pleased with the Group's first half performance, delivering revenue and operating profit growth, improved margins and excellent cash generation. The breadth and strength of our portfolio, together with continued pricing and cost discipline, is translating into improved profitability and a significantly strengthened balance sheet, while continued investment in new products and our proprietary ASIC silicon chip technology provides a strong platform for future growth."

* In so far as the Board is aware, as at 15 September 2026, the range of market forecasts for the 12 month period to 28 February 2027, based on published sell-side research, were for revenue of £170.1 million to £173.7 million, adjusted EBITDA** of £25.2 million to £27.4 million and adjusted operating profit of £15.6 million to £17.5 million.

** Adjusted EBITDA comprises operating profit (earnings) adjusted for interest, taxation, depreciation, amortisation and adjusting items.

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Notes to Editors

Focusrite plc is a global audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and musicians, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under eleven established brands: Focusrite, Novation, ADAM Audio, Martin Audio, Optimal Audio, Linea Research, Sequential, Oberheim, Sonnox, OutBoard and TiMax.

With a high-quality reputation and a rich heritage spanning decades, its brands are category leaders in the music-making and audio recording industries.

The Group operates through two divisions: Content Creation and Audio Reproduction.

·     Within its Content Creation business, Focusrite offers audio interfaces and other products for recording musicians, producers and professional audio facilities. Novation products are used in the creation of electronic music, from synthesizers and grooveboxes to industry-shaping controllers and inspirational music-making apps. ADAM Audio studio monitors have earned a worldwide reputation based on technological innovation in the field of studio loudspeaker technology.  Sonnox is a leading designer of innovative, high-quality, award-winning audio processing software plug-ins for professional audio engineers. Sequential designs and manufactures high end analogue synthesizers under the Sequential and Oberheim brands.

·     The Audio Reproduction division provides high-quality, professional-grade solutions for both live sound and permanent installations. Martin Audio designs and manufactures performance-ready systems across the spectrum of sound reinforcement applications. TiMax specialises in innovative immersive audio and show control technologies. OutBoard manufactures and sells industry standard rigging control products for live events, together with enterprise-level safety test, preparation and quality management for global rental companies and venues. Linea designs, develops, manufactures and sells innovative professional audio equipment globally. 

The Company has offices in four continents and a global customer base with a distribution network covering approximately 240 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.