Ebiquity (EBQ) H1 2026 earnings summary
Event summary combining transcript, slides, and related documents.
H1 2026 earnings summary
2 Oct, 2026Executive summary
H1 2026 was a transition period after the Q4 2025 restructuring; execution of the multi-year plan is on track, with focus on sustainable profit growth, commercial momentum and technology deployment.
Revenue fell 5% to £36.1m, reflecting legacy client losses carried over from 2025 and some project deferrals amid geopolitical uncertainty; new wins were not yet large enough to offset those losses.
More than 75 of the world’s top 100 advertisers are served; only 15% of advertisers primarily base budget decisions on effectiveness data, supporting a substantial longer-term opportunity.
Financial highlights
Revenue was £36.1m, down 5% YoY; adjusted operating profit was £2.3m, down 10%, and adjusted operating margin was 6.5% versus 6.8%.
Adjusted profit before tax rose to £1.8m from £0.4m; adjusted EPS was 0.45p versus a 0.40p loss. Statutory profit before tax was £0.4m versus a £9.0m loss.
Statutory operating profit was £1.0m versus a £6.8m loss, which included an £8.4m impairment in H1 2025; statutory loss per share narrowed to 0.30p from 7.19p.
Adjusted EBITDA was £3.9m versus £4.3m; adjusted cash from operations was £1.7m versus £4.6m, and free cash flow was an outflow of £1.8m versus an inflow of £0.7m.
Year-on-year cost reductions of £1.5m, including £0.7m in staff costs, partly offset lower revenue; operating profit was ahead of expectations for the period.
Outlook and guidance
FY26 revenue is expected to be stable against FY25 as new business wins offset legacy losses through the restructuring period.
Adjusted operating profit in July and August 2026 was above the same prior-year months; visible revenue, win rate and new-business conversion rate are improving.
Current trading is on track to meet or exceed market expectations for full-year profit; transformation benefits will take time to be fully realised.
Priorities are sustainable organic growth, cost discipline and selective investment in capabilities supporting long-term value creation.
