Statement re Intention to permanently cease operations at Mach49

Intention to permanently cease operations at Mach49

Next 15 (AIM:NFG), the tech and data driven growth consultancy, today announces that it has initiated a process to permanently cease operations at one of its subsidiaries, Mach49 LLC and its associated entities (“Mach49”).

In line with the Group’s previously announced strategy to simplify and strengthen the business, Next 15, supported by external advisors, has initiated an orderly wind down of Mach49’s operations. The Group anticipates that Mach49 will cease operations prior to the end of the FY26 financial year. Consequently, Next 15 intends to report Mach49 as a discontinued operation in its FY26 financial statements.

Further to the Company’s announcement on 25 June 2025 regarding Mach49, the Company and certain of its executives have entered into arbitration proceedings with the former members of Mach49 in relation to the remaining earnout payments. The Company maintains its position regarding the non-payment of the remaining earnout and has counterclaimed for previously paid earnout payments. The Company will provide updates on the proceedings as and when appropriate.

The Group’s guidance for its continued operations for FY26 remains unchanged, with adjusted operating profit for the year remaining in-line with market expectations1.

The Company’s next scheduled announcement will be on 30 September 2025, when the Group will release its half-year results for FY26.