Business
Trading Update and progress on Strategic Review
Team Internet Group plc reported preliminary unaudited results for FY25, with gross revenue of USD 481.9 million, net revenue of USD 136.2 million, and adjusted EBITDA of USD 42.7 million, all within or at the top end of analyst forecasts. Despite a 40% decrease in gross revenue year-on-year, primarily due to a transition in the Search segment, gross margins improved to 28.3% from 23.4% in FY24, and adjusted operating cash flow was USD 66.0 million with a strong cash conversion of 155%. Net debt reduced by USD 8.8 million to USD 87.6 million. The company is progressing with discussions for a potential disposal of its DIS segment, which is expected to yield a value-maximising outcome. The Group anticipates trading in line with market expectations for FY26. Disclaimer*
About this update from Team Internet Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \n16 March 2026\n Team Internet Group plc\n(\"Team Internet\" or the \"Company\" or the \"Group\")\nFinancial Year (\"FY\") 2025 Trading Update and progress on Strategic Review\n \nTeam Internet Group plc (AIM: TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from powering identity and discovery online, is pleased to announce a trading update for the financial year ended 31 December 2025 (\"FY25\"). The provisional results for FY25 are in line with previous guidance, with gross revenue, net revenue and adjusted EBITDA(1) all above or towards the top end of the range of current analyst forecasts(2). Additional financial data is provided below in advance of the publication of the audited annual report. All data presented is unaudited. The Board reiterates that the Group continues to trade in line with market expectations in FY26.\nTrading Update\n \n· FY25 results were delivered in line with or above current analyst expectations, with strong cash generation and improving gross margins despite a challenging transition year for the Search segment. The Group's key financial metrics for FY25 are set out below:Gross revenue of USD 481.9 million (FY2024: USD 802.8 million)\n· Net revenue (gross profit) of USD 136.2 million (FY2024: USD 187.5 million), with gross margin increasing from 23.4% to 28.3%\n· Adjusted EBITDA of USD 42.7 million (FY2024: USD 91.9 million)\n· Adjusted operating cash flow of USD 66.0 million (FY2024: USD 99.1 million)\n· Adjusted operating cash conversion of 155% (FY2024: 108%)\n· Net debt(3) of USD 87.6 million (31 December 2024: USD 96.4 million). Team Internet has continued to be cash generative in FY2025, reducing net debt by USD 8.8 million during the year despite USD 6.9 million of shareholder distributions\nThe year-on-year reduction in gross revenue primarily reflects the previously disclosed transition within the Search segment from legacy monetisation channels towards next-generation solutions, including Related Search...