HPS Posts 22% Revenue Surge in 2025, Sets Record Q4 and Cuts Net Debt

HPS delivered a strong 2025 performance, posting MAD 1.547 bn in consolidated revenue – a 22 % year‑over‑year jump (6.1 % on a pro‑forma basis). The fourth quarter set a new peak with MAD 517 m, up 30.8 % versus Q4‑2024, driven by a 46.6 % surge in SaaS royalties. Recurring revenue now accounts for 76 % of total sales, while net debt fell 30.5 % and cash rose to MAD 216 m. A 72 % increase in the backlog bolsters the company’s visibility for 2026, where it expects the newly‑deployed platforms to move fully into a run‑phase and further lift recurring earnings.

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