Team Internet Group on track to produce record profits in 2024 and 2025

Team Internet Group Plc (LON:TIG), 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 nine months ended 30 September 2024.

Financial summary:

● Gross revenue increased by 1% to USD 615.1m (versus nine months ended 30 September 2023 (“September 2023 YTD”): USD 611.7m)

● Net revenue (gross profit) increased by 4% to USD 143.6m (September 2023 YTD: USD 138.5m), with gross margin increasing from 22.6% to 23.3%

● Adjusted EBITDA⁽ⁱ⁾ increased by 2% to USD 70.1m (September 2023 YTD: USD 68.8m), with adjusted EBITDA as a percentage of net revenue stable at approximately 49%

● Operating profit decreased by less than 1% to USD 31.2m (September 2023 YTD restated⁽ⁱⁱ⁾: USD 31.4m), following a USD 2.7m higher amortisation charge, combined with a similar reduction in share-based payment expenses year-on-year

● Profit before tax decreased by 9% to USD 18.3m (September 2023 YTD: USD 20.0m)

● Profit after tax decreased by 7% to USD 11.9m (September 2023 YTD: USD 12.8m)

● Adjusted EPS (diluted) increased by 7% to USD 16.83 cents (September 2023 YTD restated⁽ⁱⁱ⁾: USD 15.68 cents)

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