REG - Brave Bison Grp PLC - Trading Update

Brave BisonAnnouncement

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RNS Number : 5824O  Brave Bison Group PLC  13 January 2026

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended. Upon the publication of this announcement
via a Regulatory Information Service, this inside information is now
considered to be in the public domain.

 

 

13 January 2026

 

Brave Bison Group plc

 

("Brave Bison" or the "Company", together with its subsidiaries "the Group")

 

Trading Update

 

FY25 trading ahead of consensus

following strong Q4 in Sport & Entertainment

 

Year end net cash of £4.3m significantly ahead of consensus

 

Brave Bison, the next-generation marketing and technology partner for global
brands, is pleased to provide the following trading update for the year ending
31 December 2025 ("FY25") ahead of publication of the Group's audited FY25
results.

 

Financial Highlights

 

 Year ending 31 December      FY25((1))  FY24     Change
 Net Revenue                  £33.5m     £21.3m   +57%
 Adj. EBITDA((2))             £6.5m      £4.5m    +44%
 Adj. Profit Before Tax((3))  £5.5m      £3.9m    +41%
 Net Cash((4))                £4.3m      £7.5m    (42%)

Subject to audit, small apparent errors due to rounding

 

§ Net revenue of not less than £33.5m (FY24: £21.3m), ahead of consensus
expectations((5)) and growth of 57% year-on-year

 

§ Adj. EBITDA of not less than £6.5m (FY24: £4.5m) and Adj. Profit Before
Tax of not less than £5.5m (FY24: £3.9m), an increase of 44% and 41%,
respectively, year-on-year and both ahead of consensus expectations((5))

 

§ Net cash at year end of £4.3m (FY24: £7.5m), significantly ahead of
consensus expectations((5)) following strong Q4 trading and an improved
working capital position which is expected to partially unwind over the first
half of 2026

 

Outlook

 

As a result of strong trading in the second half of FY25, the Board now
expects to be in a position to repay all outstanding bank debt prior to the
end of 2026, meaning that debt facilities drawn to fund acquisitions completed
in H2 2025 will be repaid ahead of prior expectations.

 

Free cashflow generated in excess of loan repayments will be used to fund
further acquisitions, and the payment of dividend(s), in-line with the
Company's capital allocation policy.

 

The Board is comfortable with FY26 consensus expectations((5)) of £45m of net
revenue and £9.4m of Adj. EBITDA.

 

As a result of the timing of MiniMBA courses (running April to July and
September to December) the Group's revenue and profit profile is now expected
to be more heavily weighted to the second half of each year than has
historically been the case.

 

(1)   Unaudited, not less than results.

(2)   Adj. EBITDA is defined as earnings before interest, taxation,
depreciation and amortisation, and after adding back acquisition costs,
restructuring costs and share-based payments. Under IFRS16 most of the costs
associated with property leases are classified as depreciation and interest,
therefore Adj. EBITDA is stated before deducting these costs.

(3)   Adj. Profit Before Tax is stated after adding back acquisition costs,
restructuring costs, impairments, amortisation of acquired intangibles and
share-based payments, and is after the deduction of costs associated with
property leases.

(4)   Net Cash is stated before deducting lease liabilities and deferred
consideration

(5)   Company compiled FY25 consensus expectations immediately prior to this
announcement: net revenue of £31.5m / Adj. EBITDA of £6.1m / Adj. PBT of
£5.2m / net debt £3.6m

 

For further information please contact: 

 

Brave Bison Group
plc
via Cavendish

Oliver Green, Executive
Chairman                                                          

Theo Green, Chief Growth Officer 

Philippa Norridge, Chief Financial Officer 

 

Cavendish Capital
Markets
Tel: +44 (0) 20 7220 0500

Nominated Adviser & Joint Broker 

Ben Jeynes / Teddy Whiley / Elysia Bough - Corporate Finance

Michael Johnson / Sunila de Silva - ECM

 

Singer Capital
Markets
Tel: +44 (0) 20 7496 3000

Joint Broker

Alex Bond / Sara Hale

 

About Brave Bison

 

Brave Bison is a marketing and technology partner for global brands. With
operations across eight countries including the UK, India, Australia and
Egypt, Brave Bison provides customers with digital services, digital media and
marketing skills training.

 

The Group operates through two divisions: Digital Services and Digital
Content.

 

Digital Services comprises the Group's digital marketing operations. Trading
through dedicated brands including Brave Bison (performance media),
SocialChain (social & influencer marketing), Engage (Sport &
Entertainment) and MTM (strategy & insight), the Group works with global
brands and media rights holders across consultancy and execution. Customers
include New Balance, Primark and Google, as well as Formula 1, Real Madrid and
New Zealand Rugby.

 

Digital Content comprises the Group's operations to monetise digital content
through training and advertising. This division includes the Brave Bison media
network of YouTube, Facebook and Snap channels, as well as MiniMBA, a
marketing skills and training platform that provides MBA-level education
through an online learning portal. Almost 6,000 marketing professionals take
MiniMBA courses every year and the platform has trained over 40,000 delegates
since inception. MiniMBA sells directly to marketers through its website, as
well as to enterprise customers looking to upskill their teams including
American Express, McDonald's, Google, British Airways, Nestle and
Salesforce.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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