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.

Target	Promise	Said	Status
2023
FY23	Trade at least in line with market expectations for the full year 2023	11 Oct 2023	✓ Kept
	“We confirm our guidance that the Group is confident in its ability to meet current market expectations.” Also stated 13 Nov 2023 · 18 Mar 2024 Result FY2023 results beat the upgraded consensus: revenue $835m and EBITDA $96m. “The Company now expects to report record gross revenue of c.USD 835 million, net revenue (gross profit) of c.USD 190 million and adjusted EBITDA1 of c.USD 96 million for the financial year 2023. These represent increases of c.15%, c.7% and c.12% respectively versus the prior year, ahead of the recently upgraded market consensus2 for 2023.”29 Jan 2024 · FY 2023 Trading Update
2024
FY24	Meet market expectations for full year 2024	13 May 2024	✗ Missed · target changed
	“the Directors are confident that the Group will meet market expectations for the full year” Also stated 12 Aug 2024 Result In November 2024 EBITDA guidance was set at about $97m, and FY2024 EBITDA came in at $91.9m, down on 2023. “The Group now expects to deliver approximately USD 97m adjusted EBITDA for 2024.”11 Nov 2024 · Nine months unaudited results to 30 September 2024
2024	Declare an interim dividend of 1.0p per share	12 Aug 2024	✓ Kept
	“The Board intends to declare an interim dividend of 1.0 pence per ordinary share, subject to bank approval” Result A 1.0p interim dividend was declared on 19 August 2024 and paid on 4 October 2024. “Team Internet declares an interim dividend of 1.0 pence per share. The dividend will be payable on 4 October 2024 for shareholders on the Company's register of members at close of business on 30 August 2024.”19 Aug 2024 · Dividend Timetable and PDMR Option Exercise
2024	Deliver approximately $97m adjusted EBITDA for 2024	11 Nov 2024	✗ Missed
	“The Group now expects to deliver approximately USD 97m adjusted EBITDA for 2024.” Result FY2024 adjusted EBITDA was $91.9m. 24 Mar 2025 · Financial Year 2024 Trading Update
2024 annual results	Report each division's profitability and Comparison as a separate segment in the 2024 annual results	11 Nov 2024	✓ Kept
	“committed to providing greater information by reporting on the profitability of each of these divisions in the 2024 annual results” Result The 2024 results and the March 2025 update gave segment figures for Search, DIS and Comparison. “The DIS and Comparison segments together contributed 52% of the Group's net revenue in 2024, up from 44% in 2023, and are expected to grow further in 2025 and beyond.”4 Mar 2025 · 2.8 Response, Search Market Update, Results Notice
2025
1 Jul 2025	Repurchase up to 13.048m shares (max £19.572m) by 1 July 2025	9 Sep 2024	… In progress
	“to repurchase up to 13,048,000 Ordinary Shares (the "Buyback Programme"), effective from today” Result Not yet due.
FY25	2025 Group Adjusted EBITDA guidance of $60-68m	4 Mar 2025	✗ Missed · target changed
	“returns to the long-term pattern... a trough in 2025 before it recovers from 2026 onwards and returns to the long-term pattern.” Result Guidance was cut to $40-45m in November 2025; actual EBITDA was $42.7m. “Group Adjusted EBITDA of $40-45 million (2024: $92 million)”11 Nov 2025 · Strategic Review to Unlock Shareholder Value “Adjusted EBITDA of USD 42.7 million (FY2024: USD 91.9 million)”16 Mar 2026 · Trading Update and progress on Strategic Review
2026
31 May 2026	Publish audited 2025 results in late May 2026	24 Apr 2026	✗ Missed
	“The Company expects to publish its audited full year results for 2025 in late May 2026” Result The audited FY25 results came out on 26 June 2026. “Team Internet Group plc (AIM: TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from powering identity and discovery online, is pleased to announce its audited Annual Report for the financial year 2025 is now available on the Group's website”26 Jun 2026 · Audited 2025 Annual Report and Notice of AGM
Today · 10 Oct 2026
2026	Return to double-digit EBITDA/earnings growth from 2026	4 Mar 2025	✗ Missed · target changed
	“returns to the long-term pattern... a trough in 2025 before it recovers from 2026 onwards and returns to the long-term pattern.” Also stated 24 Mar 2025 · 11 Nov 2025 Result The goal was narrowed to year-on-year earnings growth in H2 2026; H1 2026 EBITDA was $19.5m against $24.6m. “With the Group's earnings typically weighted towards the second half of the year, this progress underpins the Board's confidence in a stronger second-half performance and a return to year-on-year earnings growth in the second half of 2026.”24 Jul 2026 · H1 2026 Trading Update & Notice of H1 2026 Report “With the Group's earnings traditionally weighted to the second half, the Board is confident of a stronger second half and a return to year-on-year earnings growth in H2 2026.”7 Sep 2026 · Unaudited Interim Results
2026	Reduce the 2026 cost base by $24m versus 2024, like for like	1 Sep 2025	… In progress
	“Our performance improvement programme is targeting a USD 24 million reduction in the 2026 cost base versus 2024, on a like-for-like basis.” Status so far Not yet due.
around year end 2026	DIS disposal at a valuation materially exceeding the market cap (restated as over $160m)	11 Nov 2025	… In progress
	“it continues to expect that any transaction, if concluded, would be at a valuation materially exceeding the Company's market capitalisation at the time of the initial announcement on 11 November 2025” Also stated 20 Jan 2026 · 24 Apr 2026 · 7 Sep 2026 Status so far Not yet due.
FY26	Trade in line with market expectations in FY26	16 Mar 2026	… In progress
	“The Group remains confident in its ability to meet market expectations for 2026.” Also stated 26 Jun 2026 Status so far Not yet due.
2026	Announce the DIS outcome in the first half of Q3 2026 and complete the deal in 2026	15 Jun 2026	✗ Missed · target changed
	“The Board reaffirms its expectation of a valuation materially exceeding USD 160 million” Also stated 7 Sep 2026 Result By September 2026 no deal was announced and completion was said to be around the year end. “The strategic review is at an advanced stage, with discussions ongoing with a view to reaching a transaction in the near term, while the Board remains engaged with multiple parties interested in all or parts of the division. The Board reaffirms its expectation of a valuation materially exceeding USD 160 million; any agreed transaction is expected to complete around the year end.”7 Sep 2026 · Unaudited Interim Results
H2 2026	Search segment to be profitable in H2 2026	15 Jun 2026	… In progress
	“is now set towards a profitable second half of 2026” Also stated 7 Sep 2026 Status so far Not yet due.
H2 2026	Return to year-on-year earnings growth in H2 2026	24 Jul 2026	… In progress
	“the Board is confident of a stronger second half and a return to year-on-year earnings growth in H2 2026” Also stated 7 Sep 2026 Status so far Not yet due.
H2 2026	Significantly reduce net debt in H2 2026	24 Jul 2026	… In progress
	“The Board expects Net debt to reduce significantly in the second half of 2026” Also stated 7 Sep 2026 Status so far Not yet due.