Team Internet Group PLC (also known as CentralNic Group) released its first‑half 2026 financials, showing modest revenue growth and a notable improvement in profitability. Net revenue for the period was $61 million, while gross revenue fell 33% year‑on‑year to $179 million. Adjusted earnings per share were $0.0324.
Gross margin increased to 34% from 28% a year earlier, reflecting a shift toward higher‑quality revenue streams. Adjusted EBITDA reached $9.5 million, below the level recorded in H1 2025 but above the second half of 2025. Operating profit was $3 million, marking the first half‑year operating profit since H1 2024.
Net debt stood at $117.6 million as of June 30, up from $87.6 million at the end of 2025. Management reiterated a target to bring debt down to roughly $100 million by year‑end, compared with a consensus estimate of $94 million.
The group’s revenue mix highlighted divergent trends across its two pillars. The Search segment, reliant on Google’s AdSense for Domains, saw a sharp decline after Google discontinued the product in April 2026. However, next‑generation monetisation products now account for 90% of the segment’s revenue, up from 24% a year earlier, and the segment returned to profitability in June 2026, remaining profitable through July and August.
Domain Investment Services (DIS), a subscription‑based business, posted an 8% increase in net revenue year‑on‑year. Value‑added services such as registry, SSL certificates and software contributed nearly 19% of DIS revenue, up from just over 17% previously. The board confirmed that the strategic review of DIS is advanced, with multiple parties expressing interest in all or part of the division. Management expects the transaction value to exceed $160 million and anticipates completion around the end of 2026.
The Comparison pillar, the second earnings pillar, operates on an e‑commerce model where revenue is recognised only upon purchase completion. Net revenue in this segment grew 38% year‑on‑year, and EBITDA rose 56% year‑on‑year, reflecting a 68% conversion of net revenue into EBITDA. International sales modestly increased to 5.2% of total revenue, with France outpacing core German‑speaking markets, and a U.S. portal was launched.
Cash outflows in the first half were driven by settlement of final corporate tax liabilities for fiscal years 2022 and 2023, primarily in Germany, and a one‑off negative working‑capital impact from a non‑renewed registry customer in DIS.
The company’s share price was unchanged at $42, trading about 35.5% above its 52‑week low of $31 and roughly 35.3% below its 52‑week high of $64.9.
CEO Michael Riedl said the results matched expectations set earlier in the year and highlighted the margin improvement as a “step up in quality.” CFO William Green noted the business was operating in a considerably better position than earlier in the year. The board reaffirmed its commitment to complete the DIS review on terms that reflect the full fair value of the assets, without committing to a specific calendar deadline.
