Team Internet Group Reports Second Half Earnings Recovery as Search Returns to Profitability

Team Internet Group PLC has announced its expectation to return to year-on-year earnings growth in the second half of 2026 following the Search division’s return to profitability in June. The milestone marks the completion of the company’s transition away from legacy AdSense for Domains revenue.

Adjusted EBITDA declined 21% year on year to US$19.5 million during the six months to June, although this figure represented an 8% improvement compared with the second half of 2025. Net revenue fell 16% to US$61 million, whilst gross margin expanded to 34.1% from 27.6% in the prior year period.

The Comparison division delivered robust performance, with adjusted EBITDA climbing 54% to US$8.4 million. The Domains, Identity and Software segment contributed to the positive trend with a 28% rise to US$13.7 million. In contrast, the Search division recorded a loss of US$2.6 million across the half-year period before achieving profitability in June through cost reductions, automation initiatives and the expansion of Related Search on Content.

Net debt increased to US$117.5 million from US$87.6 million at December, a rise attributed to tax payments and reduced working capital financing rather than increased borrowings. Management anticipates a significant reduction in debt levels during the second half of the year.

The strategic review of the DIS business continues to progress with selected parties. The company expects to provide a further update alongside its interim results on 7 September, with any resulting transaction still targeted for completion during 2026.