XP Factory
XPF · AIM · Travel and Leisure · mcap £32m · 15.3p
XP Factory runs leisure venues in the UK: Escape Hunt escape rooms and Boom Battle Bar, which combines competitive games with food and drink. It owns most sites and also earns franchise income, including abroad.
The case for
- Escape Hunt is growing: UK like-for-like sales rose 4.6% in FY26, and its average site EBITDA margin is 42%. 7 Sep 2026 28 Sep 2026
- The Boom sale cuts net debt to about £3m and gives a simpler, focused business. 28 Sep 2026
- Revenue has grown steadily to £59.6m, and about £1m of HQ cost savings are due to come through in FY27. 7 Sep 2026 12 May 2026
- Both the company's chairman and brokers have been refreshed, and the new chairman received performance-linked options. 2 Feb 2026 19 May 2026 29 Apr 2026
The case against
- EBITDA fell to £5.5m from £6.6m, and FY26 guidance had been cut earlier in the year. 7 Sep 2026 2 Feb 2026
- Boom like-for-like sales fell 8% in FY26, which led to the exit from the larger brand. 12 May 2026 28 Sep 2026
- The FY28 targets of £100m sales and £15m EBITDA have effectively been abandoned after the Boom disposal. 28 Sep 2026 1 Sep 2025
- Up to £6m of the sale price depends on earn-out payments, which are not guaranteed. 28 Sep 2026
Both sides use only facts from the company's announcements · not investment advice
Company filings. Not investment advice.