PANORAMIX

At Panoramix, we believe every great idea deserves great protection. That’s why we’ve built a different kind of IP firm—one that simplifies the complex, puts clients first, and helps innovators take their next step with confidence. From trademarks and patents to strategic portfolio management, we’ve helped clients at every stage, from start-ups to scaling businesses, protect their most valuable assets.

We combine deep sector expertise with a tailored, human approach. Whether it’s filing across multiple jurisdictions or helping a company secure investment by demonstrating the value of their IP, our team works closely with clients to align IP with their commercial goals. Our in-house dual-qualified solicitors and attorneys mean clients always deal with a consistent team from start to finish.

We're growing fast and excited for what’s ahead. With your support, we’ll scale our operations and help even more innovators realise the full potential of their ideas.

Credit Commentary:
Panoramix is a law firm specialising in intellectual property since 2019. They operate across London and the East Midlands, with offices in Lincoln and London, focusing on serving a range of clients from startups to global corporations. The firm holds a major competitive advantage through its dual-qualified attorneys who are authorized to file directly in the UK, US and European jurisdictions. This streamlined process reduces reliance on external counsel, enabling the firm to offer cost-effective services. Moreover, the firm is regulated by top legal bodies in both the UK and the US. The law firm appears active on LinkedIn suggesting a steady level of engagement.

The director and sole shareholder, Kevin Hanson, is providing a personal guarantee, which means that should the business fail and there are insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall. The director has a good credit profile and owns a mortgaged property with a positive equity position. The company holds an Equifax report of C(-). There have been no CCJs for the business or the director.

The business has demonstrated continued revenue growth over the past three years (YE'Mar'25: £1.1m; YE’Mar’24:£1m; YE’Mar’23: £0.7m). However, operating profit declined in 2024, primarily due to elevated advertising expenses and charge for bad debts during that year (Operating Profit YE'Mar'25: £139k; YE’Mar’24:£32k; YE’Mar’23: £272k). Revenue growth has been supported by an expanded workforce and a greater number of secured projects. The firm anticipates this upward trend to continue in the next few years. Additionally, the gross profit margin improved during the year, aided by the company bringing certain services inhouse instead of outsourcing them. The EBIDTA (YE'Mar'25: £208k) of the company would be sufficient to service the proposed loan facility and the presence of non-cash expenses further strengthens its debt servicing capacity. The bank accounts demonstrate a good affordability and the Debt Service Coverage stands at 2x. The gearing of the company stands comparatively higher with major contributors being dividend withdrawals, reducing the equity base. The firm recorded Net Assets of £96.9k during YE'Mar'25.

The firm would be utilizing funds to cover for the working capital expense and bridging the gap between invoices.

Inflation Risk:
As per the company's management, the firm is not materially impacted by the inflation.