Ten Lifestyle Group Plc (TENG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Very good to see you all today. We're going to run through the highlights of the results today, but then the operational update, what we've actually achieved operationally in the business, a reminder of the business model and how that works and how that is working in practice, and then finish off with looking forward at what are we expecting. And then we'll have plenty of time for Q&A. So we're delighted with the results. Revenue is up. Profitability has had a step change. We've got an inflection not just in EBITDA, which is far more than doubled, but we've also got an inflection with PBT to have positive profit before tax, profit after tax as well. And that's really been led by retaining all of our corporate clients and growing the number of active members whilst we invest into tech. And it's worth it. Just having a look at this in graphs. So this is something I look at to make myself happy. It's great to see that the revenue has gone up, driven by active members largely. That's led to an improvement in EBITDA. And really pleased that we are profitable before tax and actually in the year generated more cash than we spent. So that was something that we're very happy about. Behind the numbers, though, we're still all about becoming the world's most trusted service platform, working behind global brands. And as a reminder, the global brands that we work behind tend to be the world's top wealth managers, private banks, premium credit card businesses, and some other luxury brands as well. And they use our services effectively. Because when they use our services, they grow customer retention, customer acquisition, and the profitability of their customers. Things like spend on card, assets under management improve when people are engaged with our service. As well as some s...