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The latest announcement is out from Ondo InsurTech Plc ( (GB:ONDO) ).
Ondo InsurTech Plc reported strong growth driven by the adoption of its LeakBot technology, particularly in the U.S., with a notable increase in registered customers and revenue projections. The company secured a major contract with Liberty Mutual, contributing to its successful U.S. expansion. A robust contract model has improved Ondo’s working capital profile, enabling prepayments on initial rollouts. While growth in Denmark and the UK is robust, Sweden’s rollout has slowed due to partner assessments. Ondo remains on track to achieve EBITDA positive trading in H2 FY 2026.
More about Ondo InsurTech Plc
Ondo InsurTech Plc is a world-leading provider of claims prevention technology for home insurers, focusing on the global scale-up of its LeakBot solution. This technology aims to prevent water damage claims, which account for significant annual costs in the USA and UK. LeakBot is a patented, self-install device that alerts homeowners to leaks via a mobile app and provides access to professional engineers for repairs. Ondo collaborates with 23 insurance carriers across Europe and the USA and holds the London Stock Exchange Green Economy Mark.
YTD Price Performance: -5.00%
Average Trading Volume: 754,552
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £47.77M
See more insights into ONDO stock on TipRanks’ Stock Analysis page.
