Team Internet Group Plc (LON:TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from creating meaningful and successful connections: businesses to domains, brands to consumers, publishers to advertisers, has announced its unaudited financial results for the six months ended 30 June 2024 (“H1 2024”).
Financial summary:
● Organic gross revenue growth(i) of approximately 9%, for the trailing twelve months ended 30 June 2024 (“TTM 2024”)
● Gross revenue increased by 3% to USD 409.7m (versus six months ended 30 June 2023 (“H1 2023”): USD 396.4m)
● Net revenue (gross profit) increased by 7% to USD 97.7m (H1 2023: USD 91.2m), with gross margin increasing from 23.0% to 23.8%, a relative 3.5% uplift
● Adjusted EBITDA(ii) increased by 4% to USD 46.6m (H1 2023: USD 44.6m), with EBITDA margin increasing from 11.3% to 11.4%, a relative 0.9% uplift