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(Sharecast News) - Team Internet said on Friday that first-half trading was in line with market expectations, with gross revenue falling 32% year on year to $179.1m, net revenue down 16% to $61.0m and adjusted EBITDA 21% lower at $19.5m.
Gross margin improved to 34.1% from 27.6%, while the Comparison and Domains, Identity & Software divisions increased adjusted EBITDA by 54% and 28% respectively.
The AIM-traded group said Search returned to profitability in June following the wind-down of legacy AdSense for Domains revenue and cost reductions, supporting expectations for stronger second-half trading and a return to year-on-year earnings growth.
Net debt rose to $117.5m from $87.6m at the end of 2025, but is expected to fall significantly in the second half, while the strategic review of the Domains, Identity & Software business continues with selected parties.
At 1051 BST, shares in Team Internet Group were down 5.62% at 42p.
Reporting by Josh White for Sharecast.com.
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