Gear4music (Holdings)

G4M · AIM · Consumer Products and Services · mcap £51m · 242.5p

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Financials · LTM to 31 Mar 26

Source: results 23 Jun 26 ↗

Revenue: £191m
Operating profit: £11.5m
Net income: £7.3m
Free cash flow: £2.8m
Net debt: £5.0m
Market cap: £51.0m
EV / EBIT: 4.9×
FCF yield: +5.5%
Price / book: 1.1×

Latest half-year · H1 Sep 25 vs H1 Sep 24 results 18 Nov 25 ↗

Revenue: £80.7m
Operating profit: £3.4m
Net income: £2.0m
Cash from operations: −£6.3m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest annual Latest interim

Final Results, published 23 Jun 26 · read the announcement ↗

Recognised in the income statement

	Year ended 31 March 2026 £000	Year ended 31 March 2025 £000
Current tax expense
UK Corporation tax	2,904	125
Overseas Corporation tax	47	30
Adjustments for prior periods	288	335
Current tax expense	3,239	490
Deferred tax expense
Origination and reversal of temporary differences	(144)	294
Adjustments for prior periods	(67)	(54)
Deferred tax (credit)/expense	(211)	240
Total tax expense	3,028	730

Consolidated Statement of Financial Position

	Year ended 31 March 2026 £000	Year ended 31 March 2025 £000
Non-current assets
Property Plant and Equipment	8,981	10,134
Right-of-use assets	5,171	6,479
Intangible assets	20,767	21,606
	34,919	38,219
Current assets
Inventories	42,776	34,193
Trade and other receivables	7,010	3,147
Corporation tax receivable	-	239
Cash and cash equivalents	8,015	5,576
	57,801	43,155
Total assets	92,720	81,374
Current liabilities
Trade and other payables	(22,187)	(19,921)
Lease liabilities	(1,857)	(1,869)
Corporation tax payable	(2,717)	-
	(26,761)	(21,790)
Non-current liabilities
Interest-bearing loans and borrowings	(13,000)	(12,000)
Other payables	(320)	(238)
Lease liabilities	(4,571)	(5,940)
Deferred tax liability	(1,771)	(2,103)
	(19,662)	(20,281)
Total liabilities	(46,423)	(42,071)
Net assets	46,297	39,303
Equity
Share capital	2,098	2,098
Share premium	13,286	13,286
Foreign currency translation reserve	53	140
Revaluation reserve	754	1,145
Retained earnings	30,106	22,634
Total equity	46,297	39,303

Consolidated Statement of Cash Flows

	Year ended 31 March 2026 £000	Year ended 31 March 2025 £000
Cash flows from operating activities
Profit for the year	7,315	832
Adjustments for
Depreciation and amortisation	6,893	6,802
Financial expenses and financial income	1,190	1,553
Profit on sale of property, plant and equipment	1	(5)
Share based payment charge	126	63
Taxation expense/(income)	3,028	730
	(221)	(390)
	18,332	9,585
(Increase)/decrease in trade and other receivables	(3,868)	(69)
(Increase)/decrease in inventories	(8,583)	(8,550)
Increase/(decrease) in trade and other payables	2,455	6,860
	8,336	7,826
Tax received	(58)	429
Net cash generated from operating activities	8,278	8,255
Cash flows from investing activities
Proceeds from sale of property, plant and equipment	-	16
Acquisition of property, plant and equipment	(284)	(349)
Capitalised development expenditure	(3,295)	(3,573)
Business combinations: Deferred consideration	-	(25)
Purchase of other intangibles	(20)	(102)
Interest received	106	115
Net cash used in investing activities	(3,493)	(3,918)
Cash flows from financing activities
Interest paid	(1,242)	(1,774)
Repayment of borrowings	19,000	13,000
Payment of lease liabilities	(18,000)	(13,000)
	(1,759)	(1,274)
	(345)	(418)
Net cash used in financing activities	(2,346)	(3,466)
Net increase in cash and cash equivalents	2,439	871
Cash at beginning of year	5,576	4,696
Foreign exchange movement	-	9
Cash at end of year	8,015	5,576

Half-year Results, published 18 Nov 25 · read the announcement ↗

Unaudited consolidated interim statement of financial position

	30 September 2025 (unaudited) £000	30 September 2024 (unaudited) £000	31 March 2025 (audited) £000
Non-current assets
Property, plant and equipment	9,778	10,461	10,134
Right-of-use assets	5,654	7,283	6,479
Intangible assets	21,158	21,689	21,606
	36,590	39,433	38,219
Current assets
Inventories	50,044	40,065	34,193
Trade and other receivables	5,391	3,049	3,147
Corporation tax receivable	-	505	239
Cash and cash equivalents	4,045	6,553	5,576
	59,480	50,172	43,155
Total assets	96,070	89,605	81,374
Current liabilities
Trade and other payables	(25,131)	(21,086)	(19,921)
Lease liabilities	(1,860)	(1,790)	(1,869)
Corporation tax payable	(134)	-	-
	(27,125)	(22,876)	(21,790)
Non-current liabilities
Interest bearing loans and borrowings	(20,000)	(21,000)	(12,000)
Other payables	(253)	(30)	(238)
Lease liabilities	(5,095)	(6,865)	(5,940)
Deferred tax liability	(2,253)	(1,546)	(2,103)
	(27,601)	(29,441)	(20,281)
Total liabilities	(54,726)	(52,317)	(42,071)
Net assets	41,344	37,288	39,303
Equity
Share capital	2,098	2,098	2,098
Share premium	13,286	13,286	13,286
Foreign currency translation reserve	105	147	140
Revaluation reserve	1,145	1,171	1,145
Retained earnings	24,710	20,586	22,634
Total equity	41,344	37,288	39,303

Unaudited consolidated interim statement of cash flows · £000 £000 £000


Cash flows from operating activities
Profit/(loss) for the Period	2,012	(1,229)	832
Adjustments for
Depreciation and amortisation 8-10	3,460	3,364	6,802
Financial expense	6	688	713	1,553
Loss/(profit) on sales of property, plant and equipment	-	1	(5)
Share-based payment charge/(credit)	61	(59)	63
Tax charge/(credit)	7	527	(131)	340
	6,748	2,659	9,585
(Increase)/decrease in trade and other receivables	(2,244)	31	(69)
(Increase) in inventories	(15,851)	(14,422)	(8,550)
Increase in trade and other payables	5,034	7,709	6,860
	(6,313)	(4,023)	7,826
Tax received	9	175	429
Net cash (used in)/generated from operating activities	(6,304)	(3,848)	8,255
Cash flows from investing activities
Proceeds from sales of property, plant and equipment	1	6	16
Acquisition of property, plant and equipment	8	(138)	(144)	(349)
Capitalised development expenditure	10	(1,693)	(1,649)	(3,573)
Payment of deferred consideration	-	-	(25)
Purchase of other intangibles	-	-	(102)
Interest received	40	50	115
Net cash used in investing activities	(1,790)	(1,737)	(3,918)
Cash flows from financing activities
Proceeds from new borrowings	13	8,000	9,000	-
Interest paid	6	(402)	(718)	(1,774)
Payment of lease liabilities	(1,035)	(840)	(1,692)
Net cash generated from/(used in) financing activities	6,563	7,442	(3,466)
Net (decrease)/increase in cash and cash equivalents	(1,531)	1,857	871
Cash at beginning of Period	5,576	4,696	4,696
Foreign exchange movement	-	-	9
Cash at end of Period	4,045	6,553	5,576
Unaudited consolidated interim statement of changes in equity
	£000	£000	£000	£000	£000	£000
Balance at 1 April 2025	2,098	13,286	140	1,145	22,634	39,303
Comprehensive income for the period
Profit for the period	-	-	-	-	2,012	2,012
Other Comprehensive income
Foreign currency translation difference	-	-	(35)	-	-	(35)
Deferred tax adjustment	-	-	-	-	3	3
Total comprehensive income for the period	-	-	(35)	-	2,015	1,980
Transactions with owners
Share based payments charge	-	-	-	-	61	61
Total transactions with owners	-	-	-	-	61	61
Balance at 30 September 2025	2,098	13,286	105	1,145	24,710	41,344
Balance at 1 April 2024	2,098	13,286	103	1,171	21,708	38,366
Comprehensive income for the period
Loss for the period	-	-	-	-	(1,229)	(1,229)
Other Comprehensive income
Foreign currency translation difference	-	-	44	-	-	44
Deferred tax adjustment	-	-	-	-	104	104
Total comprehensive income for the period	-	-	44	-	(1,125)	(1,081)
Transactions with owners
Share based payments charge	-	-	-	-	3	3
	3	3
Balance at 30 September 2024	2,098	13,286	147	1,171	20,586	37,288
Balance at 1 April 2024	2,098	13,286	103	1,171	21,708	38,366
Comprehensive income for the period
Profit for the period	-	-	-	-	832	832
Other Comprehensive income
Foreign currency translation difference	-	-	37	-	-	37
Deferred tax adjustment	-	-	-	-	5	5
Depreciation transfer	-	-	-	(26)	26	-
Total comprehensive income for the period	-	-	37	(26)	863	874
Transactions with owners
Share based payments charge	-	-	-	-	63	63
Total transactions with owners	-	-	-	-	63	63
Balance at 31 March 2025	2,098	13,286	140	1,145	22,634	39,303

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 23 Jun 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	FY Mar 26	FY Mar 25
Revenue to operating profit
Revenue	190.7	146.7
Gross profit	54.2	39.7
EBITDA	18.4	10.0
Operating profit	11.5	3.2
Depreciation (owned assets)	–	1.1
Depreciation (right-of-use)	–	1.6
Share-based payments	0.1	0.1
Operating profit to net income
Finance costs	–	(1.8)
Profit before tax	10.3	1.6
Tax	(3.0)	(0.7)
Net income (owners)	7.3	0.8
Per share
EPS basic	34.9p	4.0p
EPS diluted	34.9p	3.8p

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue to operating profit
Revenue	110.0	80.7	85.0	61.7
Gross profit	31.5	22.7	23.2	16.5
EBITDA	11.5	6.9	7.1	2.9
Operating profit	8.1	3.4	3.7	(0.5)
Depreciation (owned assets)	–	0.5	0.5	0.5
Depreciation (right-of-use)	–	0.8	0.8	0.8
Share-based payments	0.1	0.1	0.1	(0.1)
Operating profit to net income
Finance costs	–	(0.7)	(1.0)	(0.8)
Profit before tax	7.6	2.7	2.8	(1.2)
Tax	(2.3)	(0.7)	(0.7)	(0.0)
Net income (owners)	5.3	2.0	2.1	(1.2)
Per share
EPS basic	25.3p	9.6p	9.9p	(5.9p)
EPS diluted	25.8p	9.1p	9.7p	(5.9p)

	FY Mar 26	FY Mar 25
Operating activities
Cash from operations	8.3	8.3
Interest paid	(1.2)	(1.8)
Investing activities
Capex (PP&E)	(0.3)	(0.3)
Capex (intangibles)	(3.3)	(3.6)
Financing activities
Lease principal paid	–	(1.7)

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Operating activities
Cash from operations	14.6	(6.3)	12.1	(3.8)
Interest paid	(0.8)	(0.4)	(1.1)	(0.7)
Investing activities
Capex (PP&E)	(0.1)	(0.1)	(0.2)	(0.1)
Capex (intangibles)	(1.6)	(1.7)	(1.9)	(1.6)
Financing activities
Lease principal paid	–	(1.0)	(0.9)	(0.8)

	FY Mar 26	FY Mar 25
Non-current assets
Goodwill	5.3	5.3
Property, plant & equipment	9.0	10.1
of which land & buildings	6.7	–
Non-current assets	34.9	38.2
Current assets
Inventories	42.8	34.2
Trade receivables	7.0	3.1
Cash	8.0	5.6
Current assets	57.8	43.2
Total assets	92.7	81.4
Current liabilities
Trade payables	22.2	19.9
Lease liabilities, current	1.9	1.9
Current liabilities	26.8	21.8
Non-current liabilities
Borrowings, non-current	13.0	12.0
Lease liabilities, non-current	4.6	5.9
Non-current liabilities	19.7	20.3
Total liabilities	46.4	42.1
Equity
Total equity	46.3	39.3
Net cash and other figures
Net cash / (debt) ex leases	(5.0)	(6.4)
Shares in issue	21.0m	21.0m

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Non-current assets
Goodwill	5.3	–	5.3	–
Property, plant & equipment	9.0	9.8	10.1	10.5
of which land & buildings	6.7	–	–	–
Non-current assets	34.9	36.6	38.2	39.4
Current assets
Inventories	42.8	50.0	34.2	40.1
Trade receivables	7.0	5.4	3.1	3.0
Cash	8.0	4.0	5.6	6.6
Current assets	57.8	59.5	43.2	50.2
Total assets	92.7	96.1	81.4	89.6
Current liabilities
Trade payables	22.2	25.1	19.9	21.1
Lease liabilities, current	1.9	1.9	1.9	1.8
Current liabilities	26.8	27.1	21.8	22.9
Non-current liabilities
Borrowings, non-current	13.0	20.0	12.0	21.0
Lease liabilities, non-current	4.6	5.1	5.9	6.9
Non-current liabilities	19.7	27.6	20.3	29.4
Total liabilities	46.4	54.7	42.1	52.3
Equity
Total equity	46.3	41.3	39.3	37.3
Net cash and other figures
Net cash / (debt) ex leases	(5.0)	(16.0)	(6.4)	(14.4)
Shares in issue	21.0m	–	21.0m	–

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.