Business
Interim Results
The Smarter Web Company PLC reported an operating loss of £2.7 million for the six months ended 30 April 2026, primarily due to one-off costs from its Main Market uplisting, and a total loss of £71.9 million, largely driven by a non-cash accounting adjustment from a decline in Bitcoin's price, which stood at a market value of £157 million for their 2,778 Bitcoin holdings. The company also established a $30 million Bitcoin-backed credit facility with Coinbase and repurchased 42 million pre-IPO warrants, reducing the fully diluted share count. Revenue for the period was £397,473, and the company was included in the FTSE All-Share and FTSE SmallCap indices. Disclaimer*
About this update from Smarter Web Company Plc
30 June 2026 The Smarter Web Company PLC ("The Smarter Web Company" or "Company") Unaudited Condensed Consolidated Interim Financial Statements for the six months ended 30 April 2026 Chief Executive Officer's Statement For the six months ended 30 April 2026 The six months ended 30 April 2026 represented a period of significant progress across all areas of the business. The Group's strategy is built on three equally important pillars: a profitable and growing operating business that generates recurring revenues; a Bitcoin treasury that provides long-term balance sheet strength and capital appreciation; and a disciplined acquisition programme through which we broaden and deepen the Group's operational platform. Each pillar is designed to reinforce the others, and together they form the foundation of the Group's long-term strategy. The acquisition of Squarebird Agency Ltd ("Squarebird"), completed on 20 February 2026, marked an important step in the execution of that strategy. The Group now operates two complementary digital agencies, The Smarter Web Company Operations Limited and Squarebird - both of which are profitable, growing and increasingly working together to win new business and deliver improved outcomes for clients. The operating loss of £2.7 million for the period predominantly reflects the one-off costs associated with the Company's successful uplisting to the Main Market of the London Stock Exchange. The reported loss of £71.9 million is almost entirely attributable to a non-cash accounting adjustment arising from the decline in the Bitcoin price during the period. Excluding these non-cash movements, the underlying performance of the business was in line with the Board's expectations. The Bitcoin treasury remained the cornerstone of the Group's balance sheet, with holdings of 2,778 Bitcoin at the period end carrying a market value of £157 million. During the period, the Company established a $30 million Bitcoin-backed credit facility with Coinbase, providing the financial flexibility both to continue accumulating Bitcoin and to fund the repurchase of 42 million pre-IPO warrants, materially reducing the fully diluted share count and increasing the Bitcoin attributable to each share - an outcome the Board considers directly beneficial to existing shareholders. It is worth reminding shareholders that Bitcoin is a volatile asset and that peri...
View stock analysis, news, and events for Smarter Web Company Plc