Auction Technology Group

ATG · Main Market · Technology · mcap £572m · 482.4p

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Financials · balance sheet 31 Mar 26 · last twelve months · today’s market value

Source: results 14 May 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £590.1m
Owner’s net cash: −£115.4m
Net cash / market cap: -20%
EV ex leases: £705.5m
Revenue: £169.9m
Operating profit: −£109.4m
Free cash flow after leases: £43.2m
FCF yield: 7.3%
ROCE: -20%
Net income (owners): −£116.6m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies – figures the company reported in USD are converted to £ at the average rate of each period (balance sheets: at the date); when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Trading update 23 Jul 26ahead5 figures since the last report

Q3 revenue growth 7.8% pro forma constant currency; FY26 guidance upgraded to 5.5-6.5% growth.

Q3 pro forma constant currency revenue growth	7.8%
FY26 pro forma constant currency revenue growth guidance	5.5-6.5%
Adjusted EBITDA margin guidance FY26	34.5-35.5%
Adjusted net debt to adjusted EBITDA	1.7x	2.2x
Group leverage expected end FY26	around 1.5x

As stated by the company, unaudited. Read it →

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 14 May 26 · read the results ↗

Source ↗

	Unaudited six months ended 31 March 2026 $m	Unaudited six months ended 31 March 2025 $m	Audited Year ended 30 September 2025 $m
Revenue	126.1	89.0	190.2
Cost of sales	(56.0)	(30.9)	(71.8)
Gross profit	70.1	58.1	118.4
Administrative expenses	(62.6)	(42.4)	(101.0)
Impairment of goodwill	-	-	(150.9)
Net impairment loss on trade receivables	(0.5)	(0.7)	(0.7)
Operating profit/(loss)	7.0	15.0	(134.2)
Finance income	0.1	0.2	0.8
Finance cost	(7.7)	(6.3)	(12.4)
Net finance costs	(7.6)	(6.1)	(11.6)
(Loss)/profit before tax	(0.6)	8.9	(145.8)
Income tax credit/(expense)	0.2	(1.9)	1.2
(Loss)/profit for the period attributable to the equity holders of the Company	(0.4)	7.0	(144.6)
Items that may subsequently be transferred to profit and loss
Foreign exchange differences on translation of foreign operations	1.1	(0.7)	(0.7)
Fair value (loss)/gain arising on hedging instruments during the period	(2.5)	(4.0)	2.1
Tax relating to these items	-	1.0	-
Other comprehensive (loss)/income for the period, net of tax	(1.4)	(3.7)	1.4
Total comprehensive (loss)/income for the period attributable to the equity holders of the Company	(1.8)	3.3	(143.2)
(Loss)/earnings per share cents cents cents
Basic	(0.3)	5.7	(118.2)
Diluted	(0.3)	5.7	(118.2)

Source ↗

	Unaudited 31 March 2026 $m	Unaudited 31 March 2025 $m	Revised Audited 30 September 2025 $m
Assets
Non-current assets
Goodwill	476.4	576.6	478.3
Other intangible assets	239.8	229.0	258.0
Property, plant and equipment	0.8	0.8	0.7
Right of use assets	3.2	2.2	1.9
Trade and other receivables	0.3	0.3	0.4
Total non-current assets	720.5	808.9	739.3
Current assets
Trade and other receivables	18.6	20.2	20.1
Contract assets	3.0	3.2	2.0
Tax asset	2.9	3.3	2.5
Cash and cash equivalents	16.3	10.9	13.2
Total current assets	40.8	37.6	37.8
Total assets	761.3	846.5	777.1
Liabilities
Non-current liabilities
Loans and borrowings	(168.1)	(117.3)	(187.2)
Lease liabilities	(2.6)	(2.0)	(1.5)
Deferred tax liabilities	(18.4)	(30.0)	(20.5)
Total non-current liabilities	(189.1)	(149.3)	(209.2)
Current liabilities
Trade and other payables	(37.2)	(15.4)	(36.6)
Contract liabilities	(4.7)	(1.5)	(3.4)
Loans and borrowings	(0.2)	(0.1)	-
Tax liabilities	(0.1)	(0.6)	(0.3)
Lease liabilities	(1.2)	(0.9)	(1.0)
Total current liabilities	(43.4)	(18.5)	(41.3)
Total liabilities	(232.5)	(167.8)	(250.5)
Net assets	528.8	678.7	526.6
Equity
Share capital	-	-	-
Share premium	-	335.0	335.2
Other reserve	328.3	330.3	328.3
Treasury shares	(12.5)	(7.6)	(16.5)
Share option reserve	27.1	25.5	26.4
Foreign currency translation reserve	(28.9)	(33.6)	(27.5)
Retained earnings/(losses)	214.8	29.1	(119.3)
Total equity	528.8	678.7	526.6

Source ↗

	Unaudited six months ended 31 March 2026 $m	Unaudited six months ended 31 March 2025 $m	Audited Year ended 30 September 2025 $m
Cash flows from operating activities
(Loss)/profit before tax	(0.6)	8.9	(145.8)
Adjustments for
Impairment of goodwill	-	-	150.9
Amortisation of acquired intangible assets	18.8	16.1	33.3
Amortisation of internally generated software	4.9	4.0	8.9
Depreciation of property, plant and equipment	0.3	0.2	0.4
Depreciation of right of use assets	0.6	0.4	0.9
Share-based payment expense	4.2	2.8	6.4
Finance income	(0.1)	(0.2)	(0.8)
Finance costs	7.7	6.3	12.4
Operating cash flows before movements in working capital	35.8	38.5	66.6
Decrease/(increase) in trade and other receivables	0.2	(1.9)	0.3
Increase in contract assets	(1.0)	(1.7)	(0.4)
Increase in trade and other payables	0.5	3.7	12.6
Increase/(decrease) in contract liabilities	1.3	(0.2)	(0.4)
Cash generated by operations	36.8	38.4	78.7
Income taxes paid	(2.6)	(11.1)	(15.0)
Net cash from operating activities	34.2	27.3	63.7
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired	1.5	-	(84.8)
Additions to internally generated software	(5.9)	(5.7)	(11.0)
Payment for property, plant and equipment	(0.4)	(0.2)	(0.3)
Receipt of lease asset	-	-	0.1
Finance income received	0.1	0.2	0.5
Net cash used in investing activities	(4.7)	(5.7)	(95.5)
Cash flows from financing activities
Repayment of loans and borrowings	(19.0)	(122.6)	(142.6)
Proceeds from loans and borrowings	-	119.6	210.0
Payment of interest on lease liabilities	(0.1)	(0.1)	(0.2)
Payment of lease liabilities	(0.6)	(0.4)	(0.9)
Shares issued	-	0.5	0.7
Repurchase of shares	-	(7.6)	(16.5)
Interest and fees on loans and borrowings paid	(6.5)	(6.9)	(12.6)
Net cash used in financing activities	(26.2)	(17.5)	37.9
Cash and cash equivalents at beginning of the period	13.2	6.8	6.8
Net increase in cash and cash equivalents	3.3	4.1	6.1
Effect of foreign exchange rate changes	(0.2)	-	0.3
Cash and cash equivalents at the end of the period	16.3	10.9	13.2

Source ↗

	2025 $000	2024 $000
Revenue	190,151	174,148
Cost of sales	(71,776)	(56,924)
Gross profit	118,375	117,224
Administrative expenses	(101,038)	(82,596)
Impairment of goodwill	(150,863)	-
Net impairment loss on trade receivables	(707)	(2,224)
Other operating income	14	24
Operating (loss)/profit	(134,219)	32,428
Finance income	772	258
Finance costs	(12,332)	(14,303)
Net finance costs	(11,560)	(14,045)
(Loss)/profit before tax	(145,779)	18,383
Income tax	1,184	5,809
(Loss)/profit for the year attributable to the equity holders of the Company	(144,595)	24,192
Items that may subsequently be transferred to profit and loss
Foreign exchange differences on translation of foreign operations	(737)	944
Fair value gain arising on hedging instruments during the year	2,117	13,019
Tax relating to these items	(30)	(3,255)
Other comprehensive income for the year, net of income tax	1,350	10,708
Total comprehensive (loss)/income for the year attributable to the equity holders of the Company	(143,245)	34,900
(Loss)/earnings per share cents cents
Basic	(118.2)	19.7
Diluted	(118.2)	19.5

Source ↗

	30 September 2025 $000	Restated 30 September 2024 $000	Restated 1 October 2023 $000
ASSETS
Non-current assets
Goodwill	479,595	580,829	569,412
Other intangible assets	257,926	244,274	269,729
Property, plant and equipment	708	827	874
Right of use assets	1,874	2,699	3,941
Trade and other receivables	407	1,427	138
Total non-current assets	740,510	830,056	844,094
Current assets
Trade and other receivables	19,287	17,423	19,965
Contract assets	1,991	1,499	1,856
Tax assets	2,453	-	124
Cash and cash equivalents	13,163	6,826	10,416
Total current assets	36,894	25,748	32,361
Total assets	777,404	855,804	876,455
LIABILITIES
Non-current liabilities
Loans and borrowings	(187,160)	(98,530)	(132,923)
Tax liabilities	-	-	(976)
Lease liabilities	(1,494)	(2,549)	(3,240)
Deferred tax liabilities	(20,455)	(33,857)	(48,130)
Total non-current liabilities	(209,109)	(134,936)	(185,269)
Current liabilities
Trade and other payables	(36,652)	(11,491)	(30,343)
Contract liabilities	(3,631)	(1,639)	(1,851)
Loans and borrowings	(35)	(22,953)	(15,688)
Tax liabilities	(335)	(4,483)	(3,779)
Lease liabilities	(1,008)	(886)	(731)
Total current liabilities	(41,661)	(41,452)	(52,392)
Total liabilities	(250,770)	(176,388)	(237,661)
Net assets	526,634	679,416	638,794

Source ↗

	2025 $000	2024 $000
Cash flows from operating activities
(Loss)/profit before tax	(145,779)	18,383
Adjustments for
Impairment of goodwill	150,863	-
Amortisation of acquired intangible assets	33,273	32,484
Amortisation of internally generated software	8,927	6,532
Depreciation of property, plant and equipment	439	426
Depreciation of right of use assets	907	939
Loss on derecognition of right of use assets	-	99
Share-based payment expense	6,418	6,015
Finance income	(772)	(258)
Finance costs	12,332	14,303
Operating cash flows before movements in working capital	66,608	78,923
Decrease in trade and other receivables	297	1,907
(Increase)/decrease in contract assets	(396)	433
Increase/(decrease) in trade and other payables	12,630	(9,383)
Decrease in contract liabilities	(366)	(253)
Cash generated by operations	78,773	71,627
Income taxes paid	(14,956)	(13,396)
Net cash from operating activities	63,817	58,231
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired	(84,843)	-
Additions to internally generated software	(10,994)	(10,843)
Payment for property, plant and equipment	(311)	(362)
Receipt of interest on lease receivable	10	9
Receipt of lease asset	107	132
Finance income received	445	249
Net cash used in investing activities	(95,586)	(10,815)
Cash flows from financing activities
Payment of deferred consideration	-	(10,000)
Repayment of loans and borrowings	(142,636)	(37,150)
Proceeds from loans and borrowings	210,000	9,500
Payment of interest on lease liabilities	(182)	(281)
Payment of lease liabilities	(955)	(749)
Shares issued	699	5
Repurchase of shares	(16,462)	-
Interest and fees on loans and borrowings paid	(12,632)	(12,459)
Net cash used in financing activities	37,832	(51,134)
Cash and cash equivalents at the beginning of the year	6,826	10,416
Net increase/(decrease) in cash and cash equivalents	6,063	(3,718)
Effect of foreign exchange rate changes	274	128
Cash and cash equivalents at the end of the year	13,163	6,826

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue to operating profit
Revenue	169.9	145.7	137.4
Gross profit	97.4	90.7	92.5
Adjusted EBITDA	60.4	58.8	63.1
Operating profit	(109.4)	(102.8)	25.6
Depreciation (owned assets)	0.4	0.3	0.3
Depreciation (right-of-use)	0.8	0.7	0.7
Share-based payments	5.8	4.9	4.7
Operating profit to net income
Finance costs	(10.3)	(9.5)^r	(11.3)
Profit before tax	(119.1)	(111.7)	14.5
Tax	2.6	0.9	4.6
Net income (owners)	(116.6)	(110.8)	19.1
Per share
EPS basic	(92.6p)	(88.0p)	14.7p
EPS diluted	(92.6p)	(88.0p)	14.6p

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	94.2	+35%	75.7	70.0
Gross profit	52.4	+15%	45.0	45.7
Adjusted EBITDA	31.9	+5%	28.5	30.3
Adjusted operating profit	27.6	+3%	–	26.7
Operating profit	5.2	−56%	(114.6)	11.8
Depreciation (owned assets)	0.2	+42%	0.1	0.2
Depreciation (right-of-use)	0.4	+42%	0.4	0.3
Share-based payments	3.1	+42%	2.7	2.2
Operating profit to net income
Finance costs	(5.8)	+16%	(4.5)	(5.0)
Profit before tax	(0.4)	n/m	(118.7)	7.0
Tax	0.1	n/m	2.4	(1.5)
Net income (owners)	(0.3)	n/m	(116.3)	5.5
Per share
EPS basic	(0.2p)	–	(92.4p)	4.4p
EPS diluted	(0.2p)	–	(92.4p)	4.4p

	LTM Mar 26	FY Sep 25	FY Sep 24
Operating activities
Cash from operations	52.9	48.8	45.9
Interest paid	(9.1)	(9.7)	(9.8)
Tax paid	(4.7)	(11.5)	(10.6)
Investing activities
Capex (PP&E)	(0.4)	(0.2)	(0.3)
Capex (intangibles)	(8.3)	(8.4)	(8.6)
Financing activities
Lease principal paid	(0.8)	(0.7)	(0.6)
Lease interest paid	(0.1)	(0.2)	(0.2)
Share buybacks	(6.7)	(12.6)	–
Shares issued	0.1	0.5	0.0

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	25.5	+19%	27.3	21.5
Interest paid	(4.9)	−11%	(4.2)	(5.4)
Tax paid	(1.9)	−78%	(2.8)	(8.7)
Investing activities
Capex (PP&E)	(0.3)	+90%	(0.1)	(0.2)
Capex (intangibles)	(4.4)	−2%	(3.9)	(4.5)
Financing activities
Lease principal paid	(0.4)	+42%	(0.4)	(0.3)
Lease interest paid	(0.1)	n/m	(0.1)	(0.1)
Share buybacks	0.0	n/m	(6.7)	(6.0)
Shares issued	0.0	n/m	0.1	0.4

	31 Mar 26	30 Sep 25	30 Sep 24
Non-current assets
Goodwill	361.7	356.0	434.0
Other intangibles	182.0	192.0	182.5
Property, plant & equipment	0.6	0.5	0.6
Non-current assets	547.0	550.2	620.2
Current assets
Trade receivables	14.1	15.0^r	13.0
Cash	12.4	9.8	5.1
Current assets	31.0	28.1^r	19.2
Total assets	577.9	578.3	639.5
Current liabilities
Trade payables	28.2	27.2	8.6
Borrowings, current	0.2	0.0	17.2
Lease liabilities, current	0.9	0.7	0.7
Current liabilities	32.9	30.7^r	31.0
Non-current liabilities
Borrowings, non-current	127.6	139.3	73.6
Lease liabilities, non-current	2.0	1.1	1.9
Non-current liabilities	143.6	155.7	100.8
Total liabilities	176.5	186.4	131.8
Equity
Total equity	401.4	391.9	507.7
Net cash and other figures
Net cash / (debt) incl. leases	(115.4)	–	–

	31 Mar 26	30 Sep 25	31 Mar 25	30 Sep 24
Non-current assets
Goodwill	361.7	356.0	445.7	434.0
Other intangibles	182.0	192.0	177.0	182.5
Property, plant & equipment	0.6	0.5	0.6	0.6
Non-current assets	547.0	550.2	625.2	620.2
Current assets
Trade receivables	14.1	15.0^r	15.6	13.0
Cash	12.4	9.8	8.4	5.1
Current assets	31.0	28.1^r	29.1	19.2
Total assets	577.9	578.3	654.3	639.5
Current liabilities
Trade payables	28.2	27.2	11.9	8.6
Borrowings, current	0.2	0.0	0.1	17.2
Lease liabilities, current	0.9	0.7	0.7	0.7
Current liabilities	32.9	30.7^r	14.3	31.0
Non-current liabilities
Borrowings, non-current	127.6	139.3	90.7	73.6
Lease liabilities, non-current	2.0	1.1	1.5	1.9
Non-current liabilities	143.6	155.7	115.4	100.8
Total liabilities	176.5	186.4	129.7	131.8
Equity
Total equity	401.4	391.9	524.6	507.7
Net cash and other figures
Net cash / (debt) incl. leases	(115.4)	–	(82.3)	–

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