Team Internet confirmed the extent of a challenging 2025 on Friday and looked to the future after what the company called a ‘year of transition’.
Team Internet has posted a tough set of 2025 numbers, with gross revenue falling to $481.9 million from $802.8 million the prior year, as the group deliberately shifted focus away from lower-quality revenue, particularly in its Search segment, which is undergoing a significant monetisation transition.
Net revenue dropped to $136.2 million from $187.5 million, though gross margin improved to 28.3% from 23.4%. Adjusted EBITDA fell to $42.7 million from $91.9 million, and the group recorded an operating loss of $49.9 million after $41.7 million of impairment charges against the Search segment.
Adjusted operating cash flow came in at $66 million with a 155% cash conversion rate, and the group trimmed net debt by $8.8 million to $87.6 million despite paying $6.9 million in shareholder distributions.
Across the segments, Domain and Identity Services held up reasonably well, with revenue per domain year up 2% and value-added services growing as a share of revenue.
The Comparison segment significantly expanded its reach beyond its core DACH region. Search, as flagged, was the drag, visitor sessions down 19% and revenue per thousand impressions halved, though next-generation monetisation now accounts for 39% of segment revenue, up from under 5% a year ago.
Michael Riedl, CEO of Team Internet, said:”With our 2025 accounts now audited and published, the year of transition is behind us. We have reshaped the Group and strengthened our financing, with amended facilities and extended maturities, and our growth segments are carrying real momentum into 2026. Our focus now is entirely forward.”
Team Internet shares were little changed on Friday but are down around 30% over the past year.