Team Internet Group (AIM:TIG) said FY25 results were delivered in line with or above current analyst expectations, and that it will publish its audited annual report for the year ended 31 December 2025 during the week ending 26 June.
The company reported FY25 gross revenue of USD 481.9 million and net revenue (gross profit) of USD 136.2 million, with gross margin rising to 28.3%, adjusted EBITDA of US$42.7 million, an operating loss of US$49.9 million after US$41.7 million of impairments mainly in Search, a loss after tax of US$62.5 million, adjusted operating cash flow of US$66 million and adjusted operating cash conversion of 155%.
For the five months to 31 May, the company delivered gross revenue of US$148 million, net revenue of US$50 million and adjusted EBITDA of US$16 million, with DIS and Comparison delivering mid‑teens net revenue growth and ~40% EBITDA growth year‑on‑year, and Search is now positioned for a profitable second half following a material cost optimisation and automation programme.
The company said the strategic review continues to progress and expects an outcome regarding a potential DIS disposal in the first half of Q3 2026, it has completed renegotiations of its borrowing arrangements to provide additional covenant headroom and align maturities to October 2027, and it is pursuing a substantial damages claim that "could result in a recovery that is material in the context of the Company's current market capitalisation" but for which no asset has been recognised.
Leverage rose to 2.9x adjusted EBITDA and interest cover fell to 2.7x at 31 December 2025, metrics the Group said primarily reflect lower adjusted EBITDA in the transition year while the business remained cash generative and reduced net debt.
"The market is still pricing Team Internet for the disruption we have already worked through, not the stronger, more focused business we have built," said Michael Riedl, CEO.
The company noted it will publish its audited FY25 Annual report in the week ending 26 June and will hold investor presentations thereafter.
