Our investment case
RM to become a world leading EdTech platform for learner assessment
52 year successful history as a leader in EdTech, with established world leading customers and resilient contracts
- Customers in 114 countries
- Assessment solutions contracted order book doubled in 2024
- Groundbreaking wins with foundation customers to deliver their transition to fully digital assessment (TCV £110M).
Uniquely positioned to capitalise on a high growth opportunity
- Global EdTech market forecast to increase by $170.8 billion at a CAGR of 15.9% between 2024 and 2029
- The market shift to digital learning, assessment and marking is driving this material growth phase
- RM’s margins are significantly higher for digital assessments compared to paper.
RM Ava has proven traction with major customers and a clear development plan to unlock new customers and markets
- A single platform that spans the full assessment lifecycle for small and enterprise customers
- Long term contracts secured with flagship customers whose exams are collectively taken in over 15,600 schools globally
- Building on our pedigree in high stakes general qualifications into mock and in-class assessments and professional qualifications.
Positive financial momentum - 2024 saw:
- Adjusted EBITDA nearly doubled to £13.1m
- £10m + of annualised cost savings delivered
- Successful renewal of 99% of core Assessment contracts up for renewal.