GB Group
GBG · Main Market · Technology · mcap £354m · 160.8p 3 open situations →
- EV
- £446m
- EV / EBIT
- –
- Net debt
- £78.4m
- FCF yield
- 10.1%
- Revenue
- £285m
- Cash returned
- 15.3%
- Share price 1y
- −35%
- Insiders 12m
- bought £73k
- Next report
- 24 Nov ●
GBG sells software that checks who people are, spots fraud and validates addresses and locations for banks, retailers and other firms. It operates in the UK, the Americas and Asia-Pacific.
Open · 3
Americas Identity turnaround
Americas Identity returned to growth in Q4 FY26, but on 14 August 2026 attrition at a few material customers cut FY27 revenue guidance to 1-3%. On 20 October 2026 GBG confirmed 1-3% as in line with consensus, flagged a non-cash Americas goodwill impairment and accelerated cost actions (c.£4.5m exceptional in 1H). Recovery plan due at interims.
- FY27 margin
- Approximately 21%, versus 21-22% guided in June
- Cause
- Higher than expected volume attrition on a few material customers
- Pipeline
- Strong, but conversion time means no mitigation within FY27
- Leadership
- CRO Americas Tom Schutz left; COO James Gothard interim
- 1H27 adjusted operating profit
- £27.0m versus £29.5m in 1H26 20 Oct 2026 ↗
- Exceptional cost
- approximately £4.5m in the first half, for cost efficiency actions 20 Oct 2026 ↗
Next: Recovery actions for Americas and impairment detail at interims · 24 Nov 2026
- 20 Oct 2026 Attrition persists; impairment and recovery plan due
- 14 Aug 2026 Setback: attrition, leader departed
- 2 Jun 2026 Q4 FY26 growth achieved; momentum into FY27
- 22 Apr 2026 Returned to growth in Q4 FY26
Strategic options for Global Fraud Solutions
On 20 October 2026 GBG said the non-core Global Fraud Solutions business, about 5% of revenue, declined more than expected on licence renewal timing, churn and fewer new wins. It is still assessing strategic options; the business remains profitable and cash generative.
- Business
- Global Fraud Solutions, non-core, c.5% of total revenue 20 Oct 2026 ↗
- Trading
- declined more significantly than expected in 1H27 20 Oct 2026 ↗
- Status
- strategic options under assessment; profitable and cash generative 20 Oct 2026 ↗
Next: Outcome of the strategic options assessment
- 20 Oct 2026 Strategic options under assessment
Profit warning
GB Group issued a profit warning on 14 Aug 2026; the shares moved −31% on the day.
- 14 Aug 2026 profit warning · -31% on the day
Closed · 3
Company filings. Not investment advice.