UK Fintech Cornerstone FS Achieves Remarkable 100% Revenue Growth

Cornerstone FS plc: A Year of Boom, Cash Flow Wins, and a Double-Digit Revenue Surge

Picture this: a company that sells multi‑currency accounts and cuts a path through the forex jungle, now pulling off a double‑tide of success by year’s end. That’s what Cornerstone FS plc is celebrating. With no external audit yet in play, they’re confident the numbers will stick—no tweaks needed.

Revenue That Rises Like a Rocket

They’re looking at a 100% jump in earnings, from £4.8 million last year to a whopping £9.6 million today. That’s a major win, beating the market’s wildest expectations.

Why? The company sharpened its playbook:

More active users—906 in 2023 versus 803 in 2022.
Higher average spend per transaction.
Sales squad grown and turbo‑charged.
Expanded partner roster, meaning they can trade in more currencies and reach new markets.

Margin Making Mentality

Margin grew from 60.9% to around 63%. They’re trimming the fat by pulling back on old white‑label deals, keeping the business lean and mean.

Plus, a fresh commission shake‑up with Robert O’Brien (chief for APAC and the Middle East) helped boost earnings in the first half.

Moving From Losses to Wins

Guess what? Adjusted EBITDA swung from a -£0.9 million loss to a sturdy £1.4 million profit. That’s the first full year where the company earned on the upside—well beyond what anyone was expecting.

All of this while keeping a tight rein on costs. Talk about a win‑win.

Cash Flow: The Cash Party

A healthy £1.6 million net cash inflow marked the year. Operating activities alone churned out about £1.4 million—a sharp turnaround from the -£0.8 million outflow last year. Cash and equivalents at the end of 2023: £2.3 million, up from £0.8 million at mid‑year and £0.7 million a year earlier.