Team Internet returns to operating profit, but revenue and cash conversion weaken
Team Internet reported its H1 results on 7 September 2026. Measure H1 2026 H1 2025 Gross revenue $179.1m $263.9m Net revenue/gross profit $61.0m $72.8m Adjusted EBITDA $19.5m $24.6m Operating profit/(loss) $3.0m $(7.0)m Loss after tax $(6.0)m $(14.1)m Cash and business mix The Search transition reduced revenue, while gross margin rose to 34.1% from 27.6%. Search returned to profit in June. Adjusted operating cash flow fell to $3.6m, representing 18% conversion. Net debt rose to $117.6m from $87.
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