REG - Ten Lifestyle Group - Full Year Trading Update

Ten LifestyleAnnouncement

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RNS Number : 6254Z  Ten Lifestyle Group PLC  17 September 2025

17 September 2025

Ten Lifestyle Group plc

("Ten" or the "Group")

Full Year Trading Update

 

Ten Lifestyle Group plc (AIM: TENG), the global concierge technology platform
driving customer loyalty for global financial institutions and other premium
brands, is pleased to announce its trading update for the year ended 31 August
2025.

 

The Group expects to report that Net Revenue(1) for the year will be broadly
in line with market expectations at c.£65.7m, up 5% on the prior year (FY
2024: £62.9m) and up 7% at constant currency to c.£67.1m. Active Members(2)
are up 7% year on year to 375k (FY 2024: 349k), with the most significant
growth towards the end of H2.

 

Adjusted EBITDA(3) increased by £1.8m on the prior year to c.£14.6m (FY
2024: £12.8m), ahead of market expectations, and up £0.4m to c.£ 13.2m at
constant currency. Adjusted EBITDA margin(4) is expected to improve to 22.2%
(FY 2024: 20.3%).

 

During the second half of the year the Group secured two Medium(5) contracts
in AMEA and several strategically important Small contracts. The Group also
renewed a number of existing contracts, including a multi-year renewal of a
Large contract in Europe with an uplift in fees for a digitally-led service.
The Group also expects a Medium contract in the Americas to transition away by
the end of H1 2026.

 

The Group ended the financial year with cash and cash equivalents of c.£10.6m
(FY 2024: £9.3m) and net cash of c.£9.8m (H1 2025: £6.8m; FY 2024: £3.9m).

 

The Group has repaid all loan notes, with £3.1m repaid during the year and
the remaining loan notes of £0.8m repaid following the end of the period.

 

Post-period end, the Group secured a 3-year £5.0m revolving credit facility
with NatWest to support the Group's short-term working capital requirements.
This facility provides greater flexibility, at a lower cost and is more
closely aligned to the Group's needs than the loan notes and invoice financing
arrangement it replaces.

 

The Group continues to maintain investment levels in AI-driven technology and
a digital platform to enhance efficiency, scalability and service quality. In
July, it launched two innovations now being rolled out across global client
programmes: Ten Digital Dining, a world-leading integrated dining service, and
Guardian, a proprietary AI quality assurance tool.

 

Alex Cheatle, CEO of Ten Lifestyle Group, said:

 

"I am pleased to report continued progress and particularly an improvement in
Adjusted EBITDA for the year, reflecting increased efficiency alongside
continued investment in our AI-driven digital platform. The launch of our
Digital Dining service into multiple markets marks a step-change in how we
serve members, combining better service quality with greater scalability.
Pleasingly, the adoption rate amongst new active members accelerated towards
the end of the year. We also ended the year with a stronger balance sheet and
a robust pipeline of opportunities."

 

 

(1     ) Net Revenue includes the direct cost of sales relating to
certain member transactions managed by the
Group.

(2    ) Individuals holding an eligible product, employment, account or card
with one of Ten's corporate clients are "Eligible Members", with access to
Ten's platform, configured under the relevant corporate client's programme,
with Eligible Members who have used the platform in the past twelve months
becoming "Active Members".

(3    ) Adjusted EBITDA is operating profit/(loss) before interest,
taxation, amortisation, depreciation, share-based payment expense, and
exceptional items.

(4    ) Adjusted EBITDA margin is Adjusted EBITDA as a percentage of Net
Revenue.

(5     )Ten categorises its corporate client contracts based on the
annualised value paid, or expected to be paid, by the corporate client for the
provision of concierge and related services by Ten as: Small contracts (below
£0.25m); Medium contracts (between £0.25m and £2m); Large contracts
(between £2m and £5m); and Extra Large contracts (over £5m). This does not
include the revenue generated from suppliers through the provision of
concierge services.

( )

 

 

- End -

 

For further information please visit www.tenlifestylegroup.com
(http://www.tenlifestylegroup.com)  or call:

 

 Ten Lifestyle Group plc                                             +44 (0)20 7850 2796

 Alex Cheatle, Chief Executive Officer

 Alan Donald, Chief Financial Officer

 Singer Capital Markets Advisory LLP, Nominated Advisor and Broker   +44 (0) 20 7496 3000

 Corporate Finance: James Moat / Oliver Platts

 Corporate Broking: Tom Salvesen / Charles Leigh-Pemberton

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc (http://www.tenlifestylegroup.com/) partners with
financial institutions and other premium brands to attract and retain wealthy
and mass affluent customers.

 

Millions of members have access to Ten's services across lifestyle, travel,
dining and entertainment on behalf of over fifty clients. Ten's partnerships
are based on multi-year contracts generating revenue through
platform-as-a-service and technology fees.

 

Ten's operations are underpinned by an increasingly sophisticated
personalisation platform comprising industry-first, proprietary technology,
thousands of supplier relationships and 25 years of proprietary expertise
delivered from over 20 global offices. Ten was also the first B Corp-certified
company on the AIM market, demonstrating its commitment to sustainability,
social responsibility and ethical business practices.

 

Ten is on a mission to become the most trusted service platform in the world.

 

For further information please go to: www.tenlifestylegroup.com
(http://www.tenlifestylegroup.com/) .

 

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