FY26 Trading & Tap Earn Updates
Tap Global Group plc reported strong financial performance for the fiscal year ended June 30, 2026, with revenues of approximately £3.0 million, exceeding market expectations by 7%, and an adjusted EBITDA loss of approximately £0.26 million, which was 80% lower than anticipated. The company also reported a Group EBITDA loss of £55k, including £0.2 million in other income, and achieved EBITDA profitability in the second half of the period. As of June 30, 2026, Tap Global held £402k in cash and £1.75 million in cryptoassets, totaling £2.15 million. The recently launched Tap Earn product saw its assets under management grow to over US$5.6 million, a 61% increase in three months, generating approximately US$125k in yield revenue. Registered users surpassed 400,000, with customer deposits significantly outweighing withdrawals.
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THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATION. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Tap Global Group plc
("Tap", the "Company" or the "Group")
FY26 Trading & Tap Earn Updates
FY26 ahead of market expectations for revenues and EBITDA
Tap Earn yield product AUM is up 61% in three months
Tap Global Group plc (AIM: TAP), the innovative digital finance hub that brings money, payments and crypto settlement services together in a single user-friendly app, is pleased to provide the following update on trading in the financial year ended 30 June 2026 ("FY26" or the "Period") and subsequently, reflecting the recently launched Tap Earn product.
Highlights
- Revenue in the Period of approximately £3.0 million, c.7% ahead of market expectations¹, in a year in which industry-wide crypto exchange volumes more than halved
- Adjusted EBITDA² loss in the Period of approximately £0.26 million, c.80% lower than market expectations.
- Group EBITDA loss of approximately £55k, in the Period including other income² of approximately £0.2 million. The Group was EBITDA profitable in the second half
- Cash of £402k at 30 June 2026, with cryptoasset holdings of £1.75 million, giving combined cash and cryptoassets of £2.15 million
- Registered users of more than 400,000 as at 30 June 2026 (30 June 2025: approximately 391,000)
- Launched Tap Earn in May 2026: assets under management passed US$5 million within five weeks of full launch and grew 43% between mid-May and mid-June - through the sharpest phase of the market drawdown and ahead of the Board's expectations for the programme's first-year AUM - with stablecoin yield rates raised to up to 8.0%
- Tap Earn AUM has now surpassed US$5.6 million, up 61% in three months. The programme has delivered fifteen consecutive weekly payouts and generated approximately US$125k yield revenue, equivalent to an annualised gross yield of approximately 7% on the programme's committed capital
- Cumulative customer deposits of US$6.9 million since launch, against withdrawals of approximately US$0.7 million - approximately ten dollars deposited for every one withdrawn
Important Notes
¹ The Board considers current market expectations for FY26 to be revenue of £2.8 million and an adjusted EBITDA loss of £1.3 million and for FY27, revenue of £3.7m and an adjusted EBITDA loss of £0.2m.
Figures are unaudited and subject to completion of the year-end audit, including possible audit adjustments.
² Adjusted EBITDA is stated before interest, taxation, depreciation, amortisation and other income - the same basis as the market expectations referred to in this announcement. Group EBITDA is stated including other income, the basis on which the Group reported its FY25 results and its H1 FY26 interim results.
Market Context
FY26 spanned a complete market cycle. Bitcoin reached an all-time high of US$126,198 on 6 October 2025, then roughly halved, closing the financial year at approximately US$58,500 - down 45% over the twelve months and 54% below its peak. The record deleveraging event of 10 October 2025 liquidated approximately US$19 billion of positions in 24 hours; US spot Bitcoin ETFs recorded their longest outflow streaks since launch in May and June 2026; and industry-wide exchange volumes fell by more than half from their August 2025 peak.
The drawdown was felt acutely on the public markets. Many listed digital asset treasury companies - most of which accumulated at 2025's highs - moved to discounts to net asset value, and several, including UK-listed vehicles, were forced into asset sales, restructurings or wind-downs.
Against that backdrop, the Board believes FY26 demonstrated the resilience of Tap's diversified, fee-based model.
Arsen Torosian, Group CEO and Co-Founder, commented:
"In crypto's hardest year since 2022, Tap has outperformed market expectations for revenue and EBITDA. I believe if Tap can deliver in these market conditions, it is well placed to perform strongly when the cycle turns.
Two metrics matter most to me: our customers kept depositing through the drawdown - Tap Earn assets grew 43% while prices fell, and deploying those assets generated real income from day one. Earn does a simple thing well. Our customers hold Bitcoin and digital assets anyway - Tap Earn pays them on those holdings, every week. A platform that earns in a bear market has a very simple path in a bull market, and this represents a growing new revenue stream for the Company.
FY26 proved the model in difficult conditions where current market expectations have been exceeded. FY27 is about scaling, sustained profitability and exceeding current market expectations."
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