Gb Group Plc · LSE:GBG
Gb — H1 2026 Earnings Presentation
35 slides from Gb's earnings presentation, Nov 25, 2025
Slide 1: Half year results presentation
Half year results presentation For the six months ended 30 September 2025 25 November 2025
Slide 2: Introductory remarks
Introductory remarks Dev Dhiman, CEO
Slide 3: Welcome & introduction
Introductory remarks Welcome & introduction Identity data in Enabling safe Powering over > 64 8,500+ and rewarding 20,000 50 Document types digital lives, for customers around billion countries genuine people, the world Addresses verified across per year Address data in everywhere. 250 195 across co
Slide 4: Foundations in place to accelerate growth
Introductory remarks Foundations in place to accelerate growth Removing Being complexity globally aligned Differentiating Driving through innovation high performance Firmly focused on driving shareholder value 1H26 Results November 2025 4
Slide 5: Four clear areas of focus that create shareholder value
Introductory remarks Four clear areas of focus that create shareholder value Underpinned by initiatives that will deliver top - line growth Protect & Win more Unlock Optimise grow new logos synergies capital our customers allocation Turnaround Americas Operating Model Accretive M&A Transition to GBG
Slide 6: Turnaround Americas
Introductory remarks Turnaround Americas Strengthened Evolve Focused on Drive sales Leading with Leadership commercial long - term productivity the GBG brand Team model growth 6x new leaders 8x • Money 1 1x 4x with industry new business YOY renewals w/ min. 2020 photo team legacy platform experience
Slide 7: Transition to GBG Go
Introductory remarks Transition to GBG Go Increasing our pace of growth through new Unlock customers wins cross-sell Outcomes: Enabling rapid Innovation • Accelerated Momentum accelerates Win growth opportunity to upgrade new logos existing customers, • Sustainable driving cross-sell differentiation
Slide 8: Operating Model
Introductory remarks Operating Model Delivering growth • Meaningful revenue accelerator through a focus on Go to Market • Singular ownership of largest accounts GBG’s strategic customers • Hardwiring cross-sell into pay plans Investing in a • Delivering on the opportunity to Innovation GBG-wide comb
Slide 9: Clear prioritisation driving progress, more to come in H2
Introductory remarks Clear prioritisation driving progress, more to come in H2 YTD progress What to expect in H2 Driving the • Americas returns to growth • On pace for the turnaround Americas • Continued focus on driving GTM • Encouraging early proof points turnaround execution & improving metrics •
Slide 10: Financial review
Financial review for the six months ended 30 September 2025 David Ward, CFO
Slide 11: 1H26 financial headlines
Financial review 1H26 financial headlines Performance reflects underlying momentum and strong profitability Revenue Operating profit 12m-rolling FY26 committed growth2 (CCY) cash conversion shareholder returns £135.5m +4.6% 85.8% £56m 1.8% CCY growth Operating profit² of Net debt of £66.6m £11m FY25
Slide 12: Summary income statement
Financial review Summary income statement Delivered good operating profit margin while enabling growth-focused investment 1H26 1H25 CCY £m £m Growth growth Revenue 135.5 136.9 (1.0)% 1.8% • Adjusted operating expense increase of just 1.1% 95.3 CCY as disciplined cost management offset inflation Gros
Slide 13: Revenue analysis
Financial review Revenue analysis Underlying revenue growth driven by strong new logo wins • Reported revenue decline 1.0% includes a 2.8% Revenue bridge currency translation headwind Excluding the impact of Santander & Compliance platform Constant currency revenue • Revenue growth on a constant cur
Slide 14: 12-month rolling revenue metrics
Financial review 12- month rolling revenue metrics Underlying NRR trend has stabilised with a clear opportunity for improvement Underlying trend stable ~ 100% 2H23 1H24 2H24 1H25 2H25 1H26 NRR 91.1% 94.0% 99.0% 102.6% 101.1% 97.8% New logo 3.3% 3.0% 2.9% 2.3% 3.1% 4.1% • Strong growth from new logo
Slide 15: Identity
Financial review Identity Underlying growth driven by EMEA & APAC; Americas well-positioned for second half growth Document Identity Underlying Identity revenue growth improving 63% of Group revenue Identity data & biometric investigation £m, constant currency verification proofing & tracing 2.8% 4.
Slide 16: Location
Financial review Location Resilient performance driven by channel partner activity in support of AI adoption Location Location capture verification 30% of Group revenue • Delivered resilient growth despite Q1 softness related to tariff uncertainty • Strong partner channel activity driven by Revenue
Slide 17: Global Fraud Solutions
Financial review Global Fraud Solutions Growth driven by strong renewals; new hires strengthening our proposition in our addressable markets Identity fraud prevention & monitoring 7% of Group revenue • Growth of 1.4% on a CCY basis driven by strong subscription renewals • Strong contribution margin
Slide 18: Delivering shareholder value
Financial review Delivering shareholder value Deploying our free cash flow to drive growth and shareholder returns Bolt-on M&A DataTools acquisition in ANZ (~£8m) Share buyback programmes (~£45m) • 1H26: Completed £17m • Expect to complete a further £18m by 30 November 2025 Share buyback Indicative
Slide 19: Well-positioned for second half growth
Well - positioned for second half growth Dev Dhiman, CEO
Slide 20: Summary
Summary and Q&A Summary High quality, Strong Delivering Clear global business foundations effective capital strategic with scale in place allocation direction AIM to Main 1st share buybacks Turnaround Americas 1st acquisition Transition to GBG Go Operating Model Confidence in improving growth rates
Slide 21: An introduction to GBG
An introduction to GBG 1H FY26 investor roadshow November/December 2025
Slide 22: Who we are
Introduction to GBG Who we are Headquartered in the UK, we We provide mission-critical Today, our team of over 1,100 are a global identity services that protect against people serve more than 20,000 technology business, enabling digital crime, strengthening customers globally. GBG is a safe and rewa
Slide 23: Our scale as a leader in global identity and location
Introduction to GBG Our scale as a leader in global identity and location Identity data in Enabling safe Powering over > 64 8,500+ and rewarding 20,000 50 Document types digital lives, for customers around billion countries genuine people, the world Addresses verified across per year Address data in
Slide 24: How do we do what we do?
Introduction to GBG How do we do what we do? Automated, scalable and technology-first, GBG powers the identity needs of over 20,000 organisations Our differentiated end - to - end identity proposition Customer onboarding takes place anywhere Location Document and Identity Identity fraud Identity dat
Slide 25: Key businesses
Introduction to GBG Key businesses Our business has three reporting segments: Location, Identity and Global Fraud Solutions Document & Identity Identity fraud Location Location Identity data biometric investigation & prevention & capture verification verification proofing tracing monitoring Location
Slide 26: Global reach and sector breadth
Introduction to GBG Global reach and sector breadth Solutions delivered through a mix of commercial models, with diversity on a sector & geographic basis High repeatable revenue 39% 35% 11% 15% 5% 54% 4% 1H26 1H26 5% Group revenue Group revenue by by 6% 18% 1H26 Sector Geography Group revenue by 9%
Slide 27: Reminder: FY25 financial highlights
Reminder: FY25 financial highlights Delivered strong profitability and cash generation as we focus on re-accelerating growth Revenue Net revenue Adjusted Net debt Focused on building retention (NRR) operating profit our growth £282.7 m 101.1% £67.0m £48.5m momentum 3.0% YoY constant NRR for Identity
Slide 28: Appendix data
Appendix data SN) Le
Slide 29: Income statement
Appendix Income statement 1H26 1H25 £m £m Growth Revenue 135.5 136.9 (1.0)% Cost of sales (40.6) (41.6) Gross profit 94.9 95.3 (0.5)% Gross profit margin % 70.0% 69.6% Adjusted operating expenses (65.4) (66.3) Adjusted operating profit 29.5 29.0 +1.9% Adjusted operating profit margin % 21.8% 21.2% +
Slide 30: Operating expenses
Appendix Operating expenses Focus on simplicity & efficiency drives margin improvement and underpins growth initiatives Reconciliation of operating expenses 1H26 1H25 % CCY* 1H25 at % CCY £m £m change adjustment CCY change Reported operating expenses 88.2 85.9 2.7% (2.4) 83.5 5.6% Amortisation of ac
Slide 31: Cash flow statement
Appendix Cash flow statement 1H26 1H25 FY25 £m £m Change £m Opening net debt balance (48.5) (80.9) 32.4 (80.9) Adjusted EBITDA 30.5 30.0 0.5 (69.0) Working capital (8.5) (4.7) (3.8) (5.2) Adjusted operating cash flow 22.0 25.3 (3.3) 63.8 Exceptional costs paid (3.2) (0.9) (2.3) (3.7) Operating cash
Slide 32: Balance sheet
Appendix Balance sheet Sept 25 Mar 25 Sept 24 £m £m Change £m Tangible assets 4.8 2.5 2.3 3.0 Goodwill, intangible assets and investments 656.6 695.0 (38.4) 693.3 Deferred tax assets 0.8 0.6 0.2 0.7 Non-current receivables 8.8 6.2 2.7 7.2 Non-current assets 671.1 704.3 (33.2) 704.1 Inventory 1.4 1.6
Slide 33: Historic performance by segment
Appendix Historic performance by segment Reported revenue £m FY23 FY24 FY25 1H25 1H26 Location 76.9 81.1 85.6 39.5 40.7 Identity1 178.0 171.8 175.9 88.4 86.0 Global Fraud Solutions 23.9 24.4 21.2 9.0 8.8 Other - - - - - Group revenue 278.8 277.3 282.7 136.9 135.5 Adjusted operating profit £m FY23 FY
Slide 34: Disclaimer
Disclaimer Restricted distribution Forward-looking statements This presentation is not for release, publication or distribution, in whole or This document contains certain forward-looking statements, including in part, directly or indirectly, in, into or from any jurisdiction where to do statements
Slide 35: Contact
Contact Richard Foster Head of Investor Relations richard.foster@gbg.com