Ten Lifestyle Group Plc (TENG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Alex Cheetle. I'm the chief executive co-founder and Alan Donald's going to be talking soon as CFO. Our mission remains that we want to be on the world's most trusted service platform working behind global brands. And I think we're more excited than ever because the tech is now available to really make that vision happen quicker and better than ever before. More of that later. But our growth engine that sits at the heart of the business model is working well for us. So as our business gets bigger, it gets better and it becomes more efficient. And we'll see how we're doing on that in a little moment. It's a huge market opportunity. Not only are we a fraction of the market for customer loyalty in financial services, but we're an even smaller fraction of the market for organizing travel, lifestyle, luxury, retail, tickets, dining, as our key categories. However, within our niche market, we are the number one leader, both in terms of scale, technology, success, reputation, and so on. On top of that, the growth engine means that we can build on that success to be ever more, ever stronger. Now, recently, the net revenue is up. So we've seen growth in net revenue, both on constant currency and in absolute terms. Profitability is also up. Cash and cash equivalents are up. We've won an extra large contract in the US, an important market for us, and a medium contract in EMEA in Japan, the single largest opportunity market for us in Asia. We've continued to invest at the similar levels than we have done over the last few years into tech, specifically around AI. And we've grown the number of active members. Now, importantly, since the end of the half, so since the end of February, we've also made six advances, either with existing clients or with new clients, winning and und...