Financial highlights
- Record Net Revenue1, up 4.5% to £65.7m (2024: £62.9m), £67.1m at constant currency
- corporate revenue of £57.9m (2024: £55.3m)
- supplier revenue of £7.8m (2024: £7.6m)
- Record Adjusted EBITDA2, up £1.8m to £14.6m (2024: £12.8m), £13.2m at constant currency
- Record Adjusted EBITDA margin3, increased to 22.2% (2024: 20.3%)
- More than fivefold increase in profit before tax to £2.9m (2024: £0.5m)
- Cash and cash equivalents of £10.6m (2024: £9.3m) and net cash of £9.7m (H1 2025: £6.8m; FY 2024: £3.9m)
- reflects £5.9m placing and repayment of £4.5m of loan notes
- repaid the remaining £0.8m of loan notes post year-end
Operational highlights
- Secured an Extra Large4 contract in the USA, expanded a Medium contract to a Large contract in the Americas, won three Medium contracts in AMEA and Europe, alongside key renewals including a Large European contract with higher fees for a digitally-led service
- £12.6m (2024: £12.8m) investment in proprietary digital platforms, content, communications and technologies, of which £6.7m (2024: £6.7m) was capitalised
- Scaled Ten Box Office globally and expanded Digital Dining through partner integrations, increasing member engagement and digital usage, alongside the development of Talia, Ten’s AI-powered member assistant
- Launched Ten Guardian to strengthen service quality, consistency, and efficiency, and enhanced TenMAID to improve quality assurance, communication, and operational performance across global teams
- Launched Ten PX (Personalised Experience) and Ten VoC (Voice of the Customer) platforms, enabling personalised, data-driven engagement and real-time feedback to deepen member experience and enhance service quality
- 7% increase in Active Members5 to 375k (2024: 349k)
- 54% of members said Ten’s concierge service was a strong or decisive factor in staying with their sponsoring brand, demonstrating Ten’s impact on client loyalty6
“Record revenue, profit and active members define a strong year in which we continued to invest successfully in our technology, our ‘better than the internet’ customer experience, and our competitive moat.”
Link to the full Preliminary Results RNS
Investor webinar
An investor webinar for current and prospective shareholders will take place at 6.00pm on 17 November 2025. The session will provide a deeper look at the Group’s results and strategic priorities, with an opportunity to engage directly with the leadership team.
To register for either the analyst presentation or investor webinar, please email investorrelations@tengroup.com to receive joining details.
