Tinybeans Group (TNY) H1 2026 earnings summary

Executive summary

• Revenue grew 7% year-over-year to US$2.89 million for the half-year ended 31 December 2025, driven by a 428% increase in photobook revenue following the Qeepsake acquisition.

• Recurring subscription revenues rose 21% year-over-year, now 67% of total revenues, driven by subscriber growth and Qeepsake acquisition.

• Paid subscribers increased 94% year-over-year to 96,900, reflecting strong retention and engagement.

• Net loss after tax improved 70.8% to US$525,873 compared to US$1,777,361 in the prior period.

• Leadership transition: Tracy Cho appointed Interim CEO, with Rebecca White joining the Board as Executive Director, aligning with U.S. market focus.

Financial highlights

• Total revenue: US$2,890,694 (up 7% year-over-year).

• Photobook revenue: US$336,223 (up 428% year-over-year).

• Operating expenses reduced by 31% year-over-year to US$2.9 million, supporting improved profitability.

• Adjusted EBITDA loss improved by 80% to US$0.2 million loss; EBITDA improved 81% year-over-year.

• Cash at bank: US$1,863,905 as of 31 December 2025, with no debt.

Outlook and guidance

• Focus on sustainable, subscription-led growth and disciplined capital allocation.

• Directors believe the group will continue as a going concern, supported by cash reserves and the ability to raise additional funds.

• Management will continue to review and reduce operating costs if revenue is below forecast.

• Additional A$1.8 million from the Entitlement Offer is available to be placed within three months of close.

• Continued pursuit of bolt-on acquisitions aligned with unit economics and integration discipline.