TEAM INTERNET GROUP PLC - Annual report for the financial year ending 31 December 2025

Team Internet Group PLC delivered a positive investor update highlighting the successful transformation of its business model, with approximately 80% of EBITDA now generated by its high-growth Domains, Identity & Software (DIS) and Comparison divisions. The company reported 2025 adjusted EBITDA of $42.7 million and strong operating cash flow of $66 million, demonstrating resilient cash generation despite the completion of a major transition within its Search business. Management emphasized that DIS continues to benefit from recurring revenue, pricing power, and growing demand for digital identity infrastructure, while the Comparison division is leveraging artificial intelligence to scale content creation, improve monetization, and drive international expansion across key European markets. The Search division has completed its strategic transition away from legacy revenue streams and is positioned for a return to profitability, supported by industry consolidation, cost optimization, and margin improvement initiatives. Trading in 2026 has started strongly, with $16 million of adjusted EBITDA generated in the first five months and expectations for stronger second-half performance. The company also strengthened its balance sheet through debt reduction, refinancing progress, and enhanced covenant flexibility. Additionally, Team Internet confirmed ongoing strategic review discussions regarding the potential sale of its DIS business at a valuation materially above £120 million, while pursuing a potentially significant antitrust recovery claim. Management reiterated confidence in the group’s growth strategy, improved financial position, expanding market opportunities, and ability to deliver long-term shareholder value through revenue growth, EBITDA expansion, and strategic execution.