Thought Machine crossed US$100 million in revenue in 2025 as it secured more core banking work with large financial institutions.
The company reported a 57% year-on-year increase in total revenue for the financial year ended December 2025, based on its audited accounts.
Its annual recurring revenue also passed US$100 million in the second quarter of 2026, supported by multi-year contracts for tier 1 bank migrations.
Thought Machine works with 18 large financial institutions and has signed 68 banks globally, with clients across more than 30 countries.
It also reported positive free cash flow for the second half of 2025.
The company plans to invest further in engineering, AI and international expansion.
It has opened a new engineering office in Lisbon and is expanding its London headquarters, with plans to hire more than 100 engineers in 2026.
It has also opened an office in Miami, following growth in the Americas and adoption of its Vault platform in Latin America.
TNW reported that Thought Machine has delayed any stock market listing to at least 2028, as London market conditions remain difficult.
Paul Taylor, CEO and Founder of Thought Machine, said,
“We have established clear leadership in the tier 1 market because our platform properly fulfills the needs of banks at scale.
With a strong balance sheet backed directly by our customer-investors, we have the financial maturity and the technology to power any bank, of any size, anywhere in the world.”
Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific
