Elixirr sees annual revenues grow 30%

Elixirr has announced its annual results for the 2024 financial year. Revenue climbed by 30% on the previous year, according to the firm.

Stephen Newton, founder and CEO of Elixirr, commented, “The 2024 financial year has been an exceptional year for Elixirr. Our continued strong growth, record-breaking revenues, and industry-leading profitability is a testament to the commitment of our team and the trust our clients place in us.”

Running to the year ended 31st December 2024, Elixirr racked up global revenues of £111.3 million. Continued growth and demand for the firm’s strong service offering, alongside increased industry recognition, meant this included six record revenue months in the financial year, while overall revenues rose 30% from 2023.

Powering these financial results, Elixirr expanded its global presence in 2024, completing the successful acquisition of Hypothesis, a leading US-based insights and strategy firm, which both complemented and strengthened Elixirr’s research and insights expertise. This strategic acquisition bolstered the firm’s US footprint with this market generating 55% of revenue for the year there.

At the same time, Elixirr welcomed four new partners to the team, including one through acquisition, and made one internal promotion to partner. As a result of continued growth and the diversification and expansion of the group’s service offering, Elixirr increased its partner revenue targets for 2024, resulting in £4.1 million per client-facing partner, up 6% from the previous year’s figure of £3.9 million – and 35% higher since the firm’s 2020 AIM IPO.

Looking ahead, Elixirr is planning to build on that momentum with another key market shift. The firm has announced its intent to move to the Main Market of the London Stock Exchange this year, after demonstrating its heightened business performance since its AIM IPO. Progressing to its next growth phase, the firm hopes the Main Market will “provide the firm with a stronger platform to elevate its brand profile, unlock access to deeper pools of capital, attract global investment, and compete more credibly with the world’s largest consulting firms”.

Newton added, “As we expand our market access through our growing client base, we remain dedicated to building a firm that is focused on helping our clients navigate the technology of today and tomorrow. Our momentum is stronger than ever, and with our planned move to the Main Market, we are well-positioned to unlock even greater opportunities for our shareholders, clients and our people in the years ahead.”