Team Internet Group plc
TIG · AIM · Technology · mcap £92m · 37.5p
Team Internet runs internet domain services (including country registries such as .co), a price-comparison business, and a search and online marketing business. It earns much of its income from advertising on parked and searched domains.
The case for
- The board expects a DIS valuation materially above $160m, which compares with a market capitalisation of £84m in April 2026. 7 Sep 2026 24 Apr 2026
- DIS and Comparison are growing and margins have improved; gross margin was 34.1% in H1 2026 against 27.6%. 7 Sep 2026
- Cash conversion was strong at 155% in FY25, and Search returned to profit in June 2026. 16 Mar 2026 24 Jul 2026
- A ten-year contract to manage the .co domain was won. 12 Jun 2025
The case against
- Group EBITDA has fallen from $96m in 2023 to $42.7m in 2025 after the Google AdSense change. 29 Jan 2024 16 Mar 2026
- Net debt rose to $117.6m in June 2026, and the FY25 loss after tax was $62.5m. 7 Sep 2026 26 Jun 2026
- Timetables have slipped: guidance was cut repeatedly and the DIS sale outcome is still pending. 4 Mar 2025 11 Nov 2025 15 Jun 2026
- Selling DIS would remove the most stable earnings from a group that remains dependent on Search. 11 Nov 2025 7 Sep 2026
Both sides use only facts from the company's announcements · not investment advice
Company filings. Not investment advice.