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FINEOS Corporation Holdings PLC ASX:FCL

Enterprise SaaS SaaS Free Cash Flow Operating Leverage

0 opened or increased6 held1 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 9 managers in total.

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20252026

8 Mar 2025 to today

Commentary Showing 2 of 27

DateManagerActionSummary

31 Aug 2026Lakehouse CapitalHeldLakehouse Capital continues to hold FINEOS because the insurance software provider's half-year subscription revenue and annual recurring revenue growth accelerated to approximately 15%, with APAC subscription revenue up 17.6% and recurring subscription revenue now representing 57.8% of the overall mix. The fund manager notes that EBITDA grew 32.3% with margins improving by 4.4 percentage points, supported by two new AdminSuite for Claims deals and two major cross-sells to existing US clients that add durable recurring revenue. Lakehouse Capital views FINEOS's valuation of 2.7 times forward EV/revenue as a compelling opportunity given the company's improving revenue quality and profitability trajectory.

Recurring RevenueMonthly Report, price recorded $2.17

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31 Jul 2026Selector Funds ManagementHeldSelector Funds Management continues to hold FINEOS Corporation after the company reported a June-end cash balance of €39.0 million, up 11% on the prior comparative period, and reaffirmed FY revenue guidance of €147-152 million. The manager highlights a 10-year license signed with insurer OneAmerica for FINEOS AdminSuite as a core employee benefits platform, along with New Zealand's Accident Compensation Corporation migrating its core claims and payments functions to the FINEOS cloud platform, reinforcing the company's position in core employee benefits systems, with a market capitalisation of $647 million.

Monthly Report, price recorded $1.96

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Articles

25 May 2026FINEOS Crosses Into Profitability Despite an AI-Driven SaaS Chill

About FINEOS Corporation Holdings PLC

Information Technology, Software

FINEOS (ASX:FCL), an insurance software provider, has delivered accelerating subscription growth. In August 2026, Lakehouse reported FINEOS' half-year subscription revenue and annual recurring revenue growth accelerated to around 15%, with recurring subscription revenue now 57.8% of total revenue. Selector noted a June cash balance of €39 million, up 11% on the prior quarter, and Wilson Asset Management rated FINEOS a buy after reviewing its technology holdings. Forager rated it a hold, having owned it previously, and Ryder said it was a core holding contributing to performance. FINEOS operates in the Information Technology sector within the Software industry, and Thesis Tracker has captured 26 comments from 9 fund managers, including Lakehouse, Selector, Wilson, Forager and Ryder. Founded in 1993 by Michael Kelly and headquartered in Dublin, FINEOS provides cloud-based core administration software for life, accident and health insurers, including absence management and claims, serving major insurers in North America, Europe and Asia Pacific.

Market cap: $607m
Price to earnings: 112.6x
Return on equity: 2.6%
Dividend yield: 0.0%
Price to book: 2.87x
Net margin: 2.9%
52-week range: $1.60 to $3.34

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in FINEOS Corporation Holdings PLC (ASX:FCL)?

Fund managers including Ellerston Capital, Paradice Investment Management, Lakehouse Capital, ECP Asset Management, Selector Funds Management, Wilson Asset Management, Ryder Capital, Forager Funds and Tamim Funds Management have invested in FINEOS Corporation Holdings PLC (ASX:FCL).

What opportunities or catalysts do fund managers highlight for FINEOS Corporation Holdings PLC?

Managers highlight accelerating subscription and annual recurring revenue growth, a rising share of recurring revenue, improving cash flow and positive operating momentum, according to Lakehouse, Selector, Wilson and Ryder.

What are the key risks to the FINEOS Corporation Holdings PLC investment thesis, according to fund managers?

Forager rates FINEOS a hold, and growth depends on large insurers migrating to its cloud platform, which can involve long sales cycles.

What does FINEOS Corporation Holdings PLC (ASX:FCL) do?

FINEOS Corporation Holdings Plc is a Dublin-based software company founded in 1993 by Michael Kelly. The firm specializes in providing end-to-end software solutions for the life, accident, and health insurance industry. Its flagship platform manages the entire insurance claims lifecycle, supporting processes from initial intake through to final closure. FINEOS serves global insurance providers, delivering specialized technology designed to enhance operational efficiency and claims management.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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