Brave Bison has reported a 97% jump in net revenue to £23.7m for the first half of 2026, with adjusted EBITDA up 87% to £4.2m, as acquisitions and strong organic growth combined to push the marketing and technology group ahead of budget.
The group pushed ahead in H1, driven primarily by its MiniMBA marketing education platform.
MiniMBA grew organically by more than 20% from cohort to cohort. Each cohort runs every four months, with a fresh one starting early in H2. With MiniMBA’s first cohort running from April to July, earnings remain structurally weighted towards the second half.
Performance marketing and the group’s Sport & Entertainment activities also outperformed, marginally offset by the insights practice, where client budgets have been hit by the Middle East crisis.
After taking on its largest-ever loan in 2025, Brave Bison ended the period with net cash of £4.7m, up 22% year-on-year, and expects further cash generation in the second half absent additional acquisitions.
Profitability was in line with budget, and full-year expectations are unchanged. The group’s scalable, platform-based solutions delivered 46% of divisional EBITDA from 33% of net revenue, underlining the high-margin economics of that side of the business.
New business wins included Nestlé, ServiceNow, Heineken, Zoopla, McLaren and Nature’s Menu, along with a multi-year engagement with Omnicom. The results exclude any contribution from the group’s 28% stake in System1, despite strong trading and a substantial rise in the investment’s market value.
Oliver Green, Executive Chairman, said: “As a result of accretive acquisitions and strong organic growth, notably at MiniMBA which grew organically by over 20% cohort-to-cohort, we are pleased to report net revenue growth of 97% year-on-year, and an increase in Adjusted EBITDA of 87%. Despite taking our largest-ever loan in 2025, the Company is now in a net cash position, and we expect further cash generation in the second half of the year, absent any additional acquisitions”