Izertis closes 2025 with solid growth and consolidates its financial strength
€166.9 million in revenues and €24.1 million in normalised EBITDA. These are the key figures from the 2025 results of the technology consultancy Izertis, presented today in Madrid, which demonstrate solid growth, a robust financial position and a balanced, efficient and sustainable financial structure.
The figures show a 20.9% increase in revenue compared with 2024, whilst normalised EBITDA grew by 16.8%, maintaining a margin of 14.5%, which is above the average for the Technology Consultancy sector. This performance responds to the momentum of higher-value business lines and the integration of acquired companies.
In a significant year, marked by the leap to the Main Market following more than five years listed on BME Growth, Izertis maintained its diversified business model, combining organic and inorganic growth. In 2025, it carried out several acquisitions (the British firms Assured Thought Limited and May Business Consulting (MBC), the Central American group Coderland, and the Spanish companies ICALIA and ICATD), which strengthened its market position and service portfolio. Despite these transactions and the associated investment effort, the Spanish technology consultancy closed the financial year with a healthy cash position, approaching €54.1 million (+66.7%).
The 2025 results demonstrate that we are well positioned to continue growing profitably and competitively
The company’s efficient financing strategy has enabled it to keep debt levels under control and improve the quality of its debt whilst in a phase of growth. Consequently, at the end of 2025, Izertis records a net financial debt to normalised EBITDA ratio of 2.7 times, thereby strengthening its financial structure.
It is also worth noting that, just 28 days after the end of the financial year, a successful share capital increase, together with the sale of treasury shares, provided a cash injection of €54.1 million, bringing net financial debt below 0.5 times normalised EBITDA.
“The 2025 results demonstrate that we are well positioned to continue growing profitably and competitively. Underpinned by our strong liquidity position, we retain the flexibility to pursue more ambitious projects in Spain and across international markets, progressing towards the objectives set out in our 2030 Business Plan,” said Pablo Martín, Chairman and CEO of Izertis.
2026: Capital increase and Business Plan 2030
Izertis has begun 2026 with intense financial and corporate activity aimed at strengthening its position ahead of its Business Plan 2030. In this context, as previously noted, on 28 January an accelerated private placement among qualified institutional investors (both domestic and international) was completed, combining a capital increase of up to 5,576,141 new shares (19.21% of the previous share capital) with the sale of 304,749 treasury shares.
The operation raised €54.1 million and recorded demand close to €74 million (2.3 times oversubscription), with Alkemia Capital, Janus Henderson, Onchena and Grupo Anémona acting as anchor investors, demonstrating the confidence of the institutional market.
Izertis has begun 2026 with intense financial and corporate activity aimed at strengthening its position ahead of its Business Plan 2030
Following the incorporation of these major asset management firms and family offices, Izertis’ management team—including its chairman, Pablo Martín—and its employees retain a majority stake in the company (over 50%).
Izertis also strengthened its short-term financing access by registering, at the beginning of January, a commercial paper programme on the MARF with a maximum outstanding balance of €30 million, and one month later, in February, the Board of Directors agreed to convert twenty-one convertible bonds from Inveready into shares.
With this strengthening of its financial structure, Izertis advances towards achieving the objectives of its Business Plan 2030: €500 million in revenues and €65 million in normalised EBITDA. A roadmap that pivots on several key growth drivers:
- International expansion to balance the revenue mix at 50% domestic and 50% international. Izertis will strengthen its presence in major global markets, grow in countries where it already operates with good results, enter new European markets and maintain its three production hubs: Europe, Latin America and India.
- Service expansion supported by high value-added technology (AI and cybersecurity) and focused on high-impact verticals: financial, defence and pharmaceutical/healthcare.
- Building a major European brand, positioning Izertis as one of Europe’s leading technology consultancies.
- Driving M&A as an accelerator to consolidate markets and expand into strategic countries.
Finally, it is also worth noting that, at the start of 2026, Izertis has once again been ranked among the 1,000 fastest-growing companies in Europe, according to the FT1000 – Europe’s Fastest-Growing Companies 2026 ranking. Only 25 Spanish companies feature in this ranking, which includes companies from 31 countries. The technology consultancy returns to the list after having also featured in 2021 and 2022.