Q3 Trading Update

Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG), the operator of world-leading auction and list price marketplaces that connect millions of buyers with unique items worth finding again, today announces a trading update for the three-month period ended 30 June 2026 ("the period").

Q3 trading

Group trading was positive throughout the period. Pro forma constant currency[1] revenue growth was 7.8%, with pro forma[2] growth (actual rates) of 7.7%.

Arts & Antiques ("A&A") revenue saw good growth, with continued progress for the LiveAuctioneers marketplace and a strong Chairish performance. The rate of decline in Industrial & Commercial ("I&C") revenue was consistent with that reported for the first half. Integration of Chairish continues to progress well, and we remain on track to deliver the previously announced $8m of operational synergies run-rate by FY27.

Cash generation remained healthy. Adjusted net debt to adjusted EBITDA[3] reduced to 1.7x at the end of June, from 2.2x at the end of FY25, reflecting continued free cash flow generation and disciplined capital allocation.

Full year guidance

For FY26, the Group now expects:

• Revenue growth of 5.5-6.5% on a pro forma constant currency basis, driven principally by value-added services and by healthy commission revenue contributions from LiveAuctioneers and Chairish. This represents a slight upgrade to the 5.0-6.0% guidance provided at the half-year results in May.
• Adjusted EBITDA margin of 34.5-35.5% is unchanged. We continue to expect the outcome to be at the bottom end of this range, reflecting the growth of lower-margin value-added services and a full year of Chairish revenue in the current financial year.
• Continued good adjusted free cash flow generation.
• Group leverage of around 1.5x by the end of FY26.

Duncan Painter, Chief Executive Officer of ATG, commented:

"This is another quarter of good progress, with growth in Arts & Antiques and continued healthy cash generation allowing us to raise our full year revenue guidance. Since joining ATG, I have spent my early weeks with our people, customers and shareholders, and that work has reinforced my confidence in the quality of these marketplaces and the scale of the opportunity ahead.

We are focused on strengthening our platforms, deepening our support for buyers and sellers, and converting that opportunity into sustained, profitable growth."

Financial calendar

The Group will release its FY26 Pre-close Trading Update and Notice of Results on Thursday 22 October 2026.