Business
Final results for the year ended 31 March 2026
Mind Gym PLC reported final results for the year ended 31 March 2026, showing a revenue of £29.9 million, a 23% decrease from £38.6 million in the prior year, or a 7% decrease on a like-for-like basis. The company returned to profitability in the second half of the year, with licensing and membership revenue growing to 17% of total revenue, up from 9% in FY25. Adjusted administrative expenses decreased by 19% to £25.5 million, contributing to an adjusted EBITDA profit of £0.6 million, down from £1.9 million. The statutory loss before tax narrowed to £5.2 million from £6.2 million. The company is undergoing a strategic review which may result in an offer for the company. Looking ahead, Mind Gym anticipates modest revenue growth in FY27 with positive EBITDA and a strengthened cash position, despite ongoing market challenges. Disclaimer*
About this update from Mind Gym Plc
25 June 2026 Mind Gym plc ('MindGym', the 'Group' or the 'Company') Final results for the year ended 31 March 2026 Returned to profitability in H2 and grew recurring revenue base MindGym (AIM: MIND), the global provider of human capital and business improvement solutions, announces its audited results for the year ended 31 March 2026. Results summary 12 months to 31 Mar 2026 (FY26) 12 months to 31 Mar 2025 (FY25) Change Revenue £29.9m £38.6m -23% Revenue (like for like) £29.9m £32.3m -7% Gross profit margin 87.2% 86.6% Adjusted administrative expenses1 £25.5m £31.7m Adjusted EBITDA profit/(loss)2 £0.6m £1.9m Statutory (loss) before tax (£5.2m) (£6.2m) Diluted EPS (adjusted) 2 (2.15p) (4.16p) Diluted EPS (unadjusted) (5.24p) (8.16p) Cash (used in)/generated from operations £0.6m £1.5m Cash at bank (£0.3m) £0.6m Capital expenditure £0.8m £1.6m 1 Adjusted administrative expenses exclude the impact of £5.6m (FY24: £7.9m) of exceptional costs, depreciation and amortisation incurred in the period 2 Adjusted results exclude the impact of £4.2m (FY24: £5.4m) of exceptional costs incurred in the period The year to 31 March 2026 was the second year of our three-year transformation from an episodic training provider to a strategic behavioural-change partner, with products that are easier to buy, sell and renew: · Returned to profitability in H2, grew recurring revenue base and improved margins · Strengthened sequentially through the year: H2 revenue around 20% higher than H1 · Licensing and membership revenue grew from 9% to 17% of total revenue year on year (26% in Q4) · Adjusted administrative expenses fell 19% reflecting the benefit of cost reductions · Net debt reduced in H2 and overdraft facility renewed Operational summary · Progress on new go-to-market strategy o Further progress in transitioning revenue away from episodic engagements to a meaningful and growing proportion of recurring licensing revenue o MindGym Memberships increased to 62 customers from 11 in FY25 · Maturing our product and delivery platform infrastructure o Further progress away from internally built technology platforms towards best-in-class partner solutions o Two new partnerships signed, for our diag...