Brave Bison Group (AIM:BBSN) upgraded its FY26 outlook, telling investors it expects net revenue and adjusted EBITDA to beat current consensus and that Q1 FY26 net revenue is expected to rise 58% year‑on‑year.
For the year ended 31 December 2025 the next‑generation marketing and technology partner reported net revenue of £34.1m (FY24: £21.3m), adjusted EBITDA of £6.8m (FY24: £4.5m), adjusted profit before tax of £5.6m (FY24: £3.9m) and adjusted basic EPS of 6.9p (FY24: 6.1p), all ahead of upgraded consensus. Statutory profit before tax fell to £0.7m (FY24: £2m) after £3.3m of acquisition‑related and restructuring costs and £1.6m of amortisation of acquired intangibles.
Adjusted EBITDA margin narrowed 110 basis points to 19.9% as recent acquisitions diluted group margins, with margin improving from 19.2% in H1 to 20.4% in H2.
"Momentum is strong and we are excited for the year ahead," said Oliver Green, Executive Chairman.
Brave Bison highlighted that it completed five acquisitions in FY25 including MiniMBA and MTM, reported continued momentum in Sport & Entertainment following record livestreams and client wins, and said MiniMBA is trading ahead of Board expectations and is forecast to grow organically by over 18% year‑on‑year in FY26 to date.
Brave Bison ended FY25 with net cash of £4.3m (FY24: £7.5m), completed a £15.5m July 2025 placing, declared a £0.5m dividend (0.44p per share, +10% YoY), holds a 28% stake in System1 with an unrealised gain of c.£1.7m at 28 April and expects to be net cash at 30 June.
