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Edge11 Sep 2026
Texas Pacific Land Corporation: Keeper of the Permian Basin
Land once granted to a failed 19th-century railroad now generates royalties for Texas Pacific Land Corporation across the Permian Basin.
Brave Bison Group
Brave Bison Group (BBSN) investor relations material
Brave Bison Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary26 Aug, 2026
Executive summary
Net revenue nearly doubled year-over-year to £23.9m in H1 2026, driven by acquisitions, strong Sport & Entertainment division trading, and double-digit organic growth at MiniMBA.
Adjusted profit before tax rose 120% to £4.1m, and adjusted basic EPS increased 31% to 3.7p year-over-year.
41% of divisional EBITDA and 32% of net revenue came from scalable, platform-based solutions, highlighting high-margin, low marginal cost business.
Strategic investment in System1 (c.28% stake) and subsequent firm offer to acquire the remainder, aiming to create a new platform of significant scale.
Record contract wins at MiniMBA, including a multi-year agreement with Omnicom.
Financial highlights
Net revenue: £23.9m (H1 2025: £12.0m), up 98% year-over-year.
Adjusted EBITDA: £4.5m (H1 2025: £2.3m), up 98% year-over-year; margin stable at 19%.
Adjusted profit before tax: £4.1m (H1 2025: £1.9m), up 120% year-over-year.
Statutory profit before tax: £2.1m (H1 2025: £0.1m), up 1938% year-over-year.
Net cash (excl. lease liabilities): £4.7m at 30 June 2026 (30 June 2025: £3.9m).
Outlook and guidance
Trading remains in line with Board expectations, with performance weighted to H2 due to MiniMBA's course calendar.
Board confident in strategic and financial rationale for System1 acquisition; ongoing communication with System1 shareholders.
Positive cash inflows forecast for H2 2026 and 2027; going concern basis maintained.
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Brave Bison Group
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