Thought Machine surpasses $100M revenue in FY2025
Thought Machine, the London-based cloud-native core banking and payments technology company founded in 2014 by Paul TaylorDealroom has a profile for this one. Try Dealroom →, has surpassed the $100M total revenue threshold for the financial year ending December 2025, as verified by its audited accounts (announced July 2026).
The milestone: Total revenue crossed $100M, a 57% year-on-year increase, supported by 59% growth in Annual Recurring Revenue. The company's ARR also crossed the $100M threshold as of Q2 2026, driven by multi-year commitments for several tier 1 bank migrations.
Path to profitability: Thought Machine achieved positive free cash flow in the second half of 2025 and, backed by a predictable revenue model of long-term contracts, says it has established a clear path to sustained operating profitability.
Commercial traction: The company has now signed 68 banks globally, with clients in over 30 countries. Its tier 1 client base includes 18 of the world's largest institutions — more than 10% of the global market — giving it a larger enterprise footprint than all next-generation core banking competitors combined.
Investment plans: Thought Machine has opened a new engineering office in Lisbon and plans to onboard more than 100 new engineers in 2026, while expanding in the Americas with a new office in Miami alongside its regional HQ in New York.
Read more: Thought Machine · Tech.eu
