Time Out Group (TMO) Trading update summary

Financial performance

• Group revenue for FY26 expected at £72m, with continuing operations revenue up 11% to £61m.

• Continuing Market revenue rose 8% to £40m, with 13 operational Markets and five more in development.

• Continuing Media revenue increased 17% to £21m, returning to adjusted EBITDA profitability.

• Media growth driven by UK/US sales, client retention, new business, and cost efficiencies.

• Refinancing of maturing senior debt is progressing as planned.

Operational highlights

• Three new Markets opened in FY26, expanding the portfolio by 30% to 13 locations.

• New Markets added 88,000 sq ft, 38 kitchens, seven bars, and 1,780 seats; Union Square introduced a smaller format.

• 12 million visitors welcomed across all Markets.

• Five additional Markets in development, with New Delhi and São Paulo under a new franchise model.

• Secured a flagship London Market at Piccadilly Circus post year-end, increasing pipeline to six.

Media and audience growth

• Global monthly reach grew 31% to 280 million people across multiple channels.

• Coverage now spans 350+ cities in over 50 countries; active registered users up 7% to 2.5 million.

• Weekly editorial reviews doubled, and video content share increased.

• Revenue mix shifted toward direct client relationships, live experiences, commerce, and partnerships.

• Media generated 110,000+ transactions and £7.3m gross merchandise value; live events revenue at £2.4m.