Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF, FRA:4CN), which earns recurring revenue from powering online identity and discovery, said its year of transition was complete as it set its sights firmly on growth in 2026.
Publishing its audited results for 2025, chief executive Michael Riedl said the group had reshaped itself and strengthened its financing through amended facilities and extended maturities, with its growth segments carrying real momentum into the new year.
The company expressed confidence in meeting market expectations for 2026.
Much of the year gone was defined by a deliberate shift towards higher-quality, more durable revenue across its three divisions rather than chasing headline volume.
The clearest transformation came in its Search segment, where next-generation monetisation formats grew to account for 39% of segment revenue, up from under 5% a year earlier, as the business moved away from older advertising models.
Its domains division strengthened its long-duration earnings by securing a ten-year contract to run the .co registry, while benefits from the integration of recent acquisition Unity fed through to margins.
International expansion also accelerated, with the comparison division delivering its first positive contributions in France, Italy and Spain and launching a UK portal.
Gross merchandise value generated outside its core German-speaking markets rose more than tenfold to 4.8% of the total.
The financial figures, which were broadly flagged in a trading update on 15 June, reflected the cost of that transition.
Gross revenue fell to $481.9 million from $802.8 million, while adjusted earnings before interest, tax, depreciation and amortisation more than halved to $42.7 million.
The group swung to an operating loss of $49.9 million after taking $41.7 million of impairment charges against its Search segment, leaving a loss after tax of $62.5 million.
Despite the downturn, gross margin widened to 28.3% from 23.4% and the business remained strongly cash generative, cutting net debt by $8.8 million to $87.6 million even after shareholder distributions.
Leverage rose to 2.9 times adjusted earnings, up from 1.2 times, reflecting the weaker profit during the transition.
