Interim Results
Summary by AI BETAClose X
21 September 2026
Getech Group plc
(“Getech” or “the Company”)
Interim Results
Revenue growth, improved profitability and major contract wins support positive outlook for FY26
Getech (AIM:GTC), a world leading locator of subsurface resources, announces its unaudited interim results and report for the six months to 30 June 2026 (“H1 2026” or “the Period”).
Financial Highlights
- H1 2026 revenue of £2.4 million (H1 2025: £2.1 million), representing a 15% increase compared with the prior period.
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Growing contractually committed order book:
- £4.7 million at 31 August 2026
- £4.0 million at 30 June 2026
- £3.8 million at 31 December 2025
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Growing Annualised Recurring Revenue ("ARR")
- £3.0 million at 31 August 2026
- £2.8 million at 30 June 2026
- £2.8 million at 31 December 2025
- Cost base excluding exceptional items reduced to £2.4 million (H1 2025: £2.5 million).
- Adjusted EBITDA profit of £0.2 million (H1 2025: Adjusted EBITDA loss of £0.1 million), demonstrating the positive impact of revenue growth and improved operating efficiency.
- Net cash generated from operating activities of £0.9 million (H1 2025: £0.3 million outflow).
- Cash balance of £0.6 million at 30 June 2026 (31 December 2025: £0.2 million).
Operational Highlights
- Continued investment in Getech’s proprietary product portfolio, including the release of Globe 2026.1 and Exploration Analyst 3.2, delivering enhanced data, analytical capabilities and more efficient exploration workflows.
- Significant three-year Globe subscription renewal with a major state-backed Asian offshore oil and gas producer, with a total contract value of c. £520k, representing a 28% uplift in renewal value.
- Strong performance from Unconventionals Analyst, achieving 22% revenue growth compared with H1 2025, alongside continued development of Getech’s wider software portfolio.
- Growing demand for expert services, including gravity & magnetics, geoscience interpretation and spatial analytics projects across the energy and natural resources sectors.
- Sales team delivered further improvements in the size and quality of the new business pipeline, including several material opportunities each capable of adding significantly to revenue and ARR.
Post Period End & Outlook
- Signed a new multi-year Globe agreement with a European-headquartered oil & gas supermajor, with total contract value of $660k recognisable over three-years.
- Landmark European Commission contract demonstrates the commercial potential of the emerging natural hydrogen sector, with Getech joining a consortium to deliver the first Europe-wide assessment of subsurface natural hydrogen, with an expected value of €1 million to be recognised by the Company across FY26 and FY27.
- Industry conditions support a strengthening oil & gas exploration outlook, driven by low reserve replacement and an increased focus on energy security.
- Emerging resource opportunities are also being evaluated to support future energy requirements with major energy companies and governments alike seeking to secure long-term solutions.
- Trading momentum remains positive and the Company is well placed to meet market expectations for FY 2026.
Michael Covington, Getech Chairman, commented:
“The first half of 2026 has been an important step forward for Getech. We delivered profitable EBITDA, improved cash generation and strengthened our recurring revenue base, whilst continuing to invest in the proprietary data and technologies that differentiate the Company. Our largely fixed cost base provides the potential for meaningful operational leverage as revenues expand. The calibre of customers and partners choosing to work with Getech reflects the value of our assets and expertise. The Board remains confident that Getech will build on current momentum as it executes its growth strategy.”
Investor Meet Company presentation
The company will hold an investor call on 23 September 2026 at 3 pm to discuss the interim results. Investors can sign up to Investor Meet Company for free and add to meet Getech via: https://www.investormeetcompany.com/companies/getech-group-plc
For further information, please contact:
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Getech Group plc Chris Jepps, CEO |
Tel: 0113 322 2200
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Cavendish Capital Markets Limited Neil McDonald / Pete Lynch / Hanna Leijonmarck (Corporate Finance) Dale Bellis / Jasper Berry (Sales) |
Tel: 0207 397 8900
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Novella Communications |
Tel: 0203 151 7008 |
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Tim Robertson / Oliver Norton |
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getech@novella-comms.com |
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Notes to editors:
About Getech
Getech provides trusted subsurface and geospatial insight to organisations across the global natural resources sector. We help corporates, governments, and regulators find and manage the subsurface resources essential to the evolving energy and minerals landscape by combining unique global earth‑science data, leading geospatial expertise and advanced analytics. Our solutions reduce risk, accelerate opportunities and enhance project value throughout the resource lifecycle, supporting activity across oil and gas, critical minerals, geothermal, natural hydrogen and other emerging resource domains.
Founded in 1994 Getech is listed on the Alternative Investment Market of the London Stock Exchange ("AIM"), with ticker symbol GTC.
For further information, please visit www.getech.com.
CEO Statement
Introduction
I am pleased to present Getech’s half-year results for the six months to 30 June 2026. Eighteen months on from setting out our strategic plan to re-focus the business on its traditional markets and re-set its cost base, that plan is now delivering tangible improvements across our key financial and operational metrics, further underpinned by a much-improved new business pipeline.
Trading strengthened over the course of the six-month period, with Group revenue growing by 15% to £2.4 million and Adjusted EBITDA of £0.2 million, reversing a loss of £0.1 million in H1 2025.
Post period, we secured two significant contract wins. In July 2026, we signed a new multi-year Globe subscription agreement with a European oil & gas super-major, as a result of which five of the world’s six recognised oil & gas super-majors now rely on Globe, and we were selected as a key technical delivery partner on a landmark European Commission study into natural hydrogen, worth more than €1 million to Getech. Together, these wins underline the breadth and quality of demand for our subsurface and geospatial insight.
Getech remains focused on becoming sustainably cash generative, growing annualised recurring revenue ahead of its cost base and enhancing its product and service offering. Alongside the oil & gas market, the Company continues to pursue opportunities in natural hydrogen, geothermal and critical minerals that build directly on its established geoscience and geospatial capabilities.
Post-period, in July, Xcalibur Multiphysics Group S.L. (“Xcalibur”), a global airborne geophysics and mapping specialist, acquired a 25.5% shareholding in the Company. Its investment highlights the strategic importance of Getech’s geoscience capabilities, proprietary data and market position. The Board is engaging constructively with Xcalibur, whilst remaining focused on delivering value for all shareholders.
Looking ahead, we see a credible opportunity to build a business materially larger than Getech today, through growth in recurring revenues, expansion of our capabilities and disciplined development of our proprietary data and intellectual property.
Financial Results
During the period, the Group generated revenues of £2.4 million (H1 FY25: £2.1 million), an increase of 15%, driven by a positive mix of new and retained business. The contractually committed order book stood at £4.0 million (31 December 2025: £3.8 million), with £1.6 million expected to unwind into revenue in H2 2026. It has increased further post-period to £4.7 million (31 August 2026) following the two significant contract wins referenced above.
Annualised recurring revenue (ARR) at 30 June 2026 was £2.8 million (31 December 2025: £2.8 million), increasing to £3.0 million post-period with further contract wins reflecting continued strong customer retention across the Group’s subscription products. Growing ARR remains a key strategic priority for the Board, and the quality of our subscription customer base, together with a pipeline of material recurring revenue opportunities, provides a foundation for further growth.
The disciplined cost management established through the 2025 restructuring, which reduced the Group’s annual cost base by c. 20% (a c. £1 million reduction on an annualised basis), was maintained throughout the period. Combined with the increase in revenue, this delivered Adjusted EBITDA of £0.2 million (H1 FY25: loss of £0.1 million), meaning the Group is now Adjusted EBITDA positive. At 30 June 2026, the Group had cash balances of £0.6 million (31 December 2025: £0.2 million).
Operational Review
Our commercial focus remains on the markets offering the strongest opportunities for Getech. The oil & gas sector is central to this strategy, building on our established combination of geoscience, geophysics, proprietary data, geospatial expertise and AI and machine-learning capabilities. We are applying the same core capabilities selectively in adjacent markets, including critical minerals, natural hydrogen and geothermal.
Globe, which customers use to assess where subsurface resources may be located, is the Company’s core proprietary data platform and a central component of Getech’s commercial offering. In March 2026, the Company released Globe version 2026.1, adding and updating data layers while introducing new tools to expand the platform’s analytical capabilities that enable users to gain greater insight into Earth’s tectonic and structural development.
In the same month, the Company successfully closed a significant Globe platform subscription renewal with a major state-backed Asian offshore oil & gas producer. The renewal contract had a total value of c. £520k, recognised over three years, and represented a 28% renewal value uplift reflecting inflationary adjustments and enhanced product capability, demonstrating progress of our ARR growth strategy around Globe renewals. Completion of the renewal underscores continued demand for Getech's subsurface intelligence solutions and the value Globe provides to its customers' exploration programmes.
Post-period, in July the Company signed a new multi-year Globe agreement with a European-headquartered oil & gas super-major, with a total value of $660,000 recognised over three years, making it five out of the world’s six recognised oil & gas super-majors that now rely on Globe for subsurface intelligence, alongside numerous other international operators and national oil companies.
Globe is built on more than 15 years of sustained investment by Getech's specialist geoscientists, who have compiled, quality-controlled and interpreted extensive geological and geophysical information from multiple sources. At its foundation is Getech's global gravity and magnetic database, a strategic intellectual property (“IP”) asset developed and continually enhanced over more than four decades through the acquisition, harmonisation, reprocessing and interpretation of data from virtually every country in the world, much of which is not publicly available. It is widely regarded as the world's most extensive commercially available dataset of its kind, and the scale of the data, the specialist expertise applied to it, and the decades of investment behind it combine to make it exceptionally difficult, and in many respects impossible, for others to recreate.
The commercial relevance of these assets is that they provide clients with a proprietary and consistent view of the subsurface, supporting exploration and investment decisions across oil & gas, minerals, geothermal and natural hydrogen.
The Board believes that the strategic value and scarcity of Getech’s proprietary data, software and intellectual property, together with the improving performance of the underlying business, are not fully reflected in the Company’s current market valuation.
The strength of Getech’s datasets was further evidenced in July, when Getech was selected as part of a consortium led by Trinomics B.V. and commissioned by the European Commission’s Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, to deliver the first Europe-wide assessment of natural hydrogen potential, with an expected contract value to Getech of more than €1 million to be recognised over FY26 and FY27. Winning this work, against blue-chip international competition, is a clear demonstration of the growing demand for new energy sources and energy security across Europe, and of the unique value of our natural hydrogen exploration workflow, gravity and magnetics data and Globe platform. We believe this work could provide a reference point for similar assessments in other underexplored regions, including parts of Africa, South America and Central Asia.
We are also focused on driving ARR growth through increased adoption of our wider software portfolio: Unconventionals Analyst, used by oil & gas operators and financial institutions to manage onshore shale oil & gas projects and investments, achieved 22% revenue growth in H1 2026 (compared with H1 2025) and continues to perform well alongside its sister SaaS products, Data Assistant and Exploration Analyst. In May 2026, the Company launched version 3.2 of Exploration Analyst, adding capabilities that enable users to analyse acreage and filter and compare opportunities more efficiently, providing faster workflows and clearer decision support.
Meanwhile, our specialist geospatial services business continues to benefit from increasing demand for enterprise GIS deployment, cloud migration and spatial analytics projects across the energy and natural resources sectors.
Our re-organised sales team has continued to strengthen our new business pipeline, both in terms of size and quality, building on the progress made last year. The improved pipeline supports management’s confidence in delivering against the Group’s strategic priorities and includes several material opportunities capable of adding significantly to the revenue and ARR base.
Beyond our sales pipeline, additional longer-term upside potential exists through our portfolio of joint venture projects, including HyMaroc, our natural hydrogen and helium partnership with Sound Energy in Morocco, which we continue to progress in a capital-light fashion.
In August, we were pleased to welcome Ajay Kejriwal to the Board as Independent Non-Executive Director and Audit & Risk Committee Chair, bringing over 35 years of corporate finance and natural resources experience that will be of great value as we build on our commercial momentum.
Outlook
Industry conditions continue to support a strengthening exploration outlook, driven by persistently low reserve replacement among the supermajors, a longer oil-demand horizon and an increased focus on energy security and geographic diversification. A sharp increase in offshore acreage awards also points to higher future exploration activity. This requirement for long-term energy supply is driving both established and emerging energy resource opportunities, creating demand for the data, specialised software and geoscience expertise needed to assess new geographies and resources efficiently.
Getech’s core markets of oil & gas, mining and natural hydrogen have all seen increased activity, which we expect to be reflected in the Group’s future performance given our proven ability to identify and de-risk new exploration projects.
We enter the second half in a much stronger position than in previous years: Adjusted EBITDA positive, a healthy and growing pipeline, market tailwinds and two significant new contract wins already secured, both evidencing progress towards our key strategic goals.
The Board remains confident that the Group is well placed to meet current market expectations for FY26. We are focused on growing ARR, converting our pipeline into contracted revenue and maintaining the disciplined cost control that underpins the Board’s confidence in Getech’s sustainable growth.
Chris Jepps, CEO
Financial Review
Revenue and Sales
H1 2026 revenue totalled £2.4 million (H1 2025: £2.1 million), representing a 15% increase compared with the prior period.
Annualised Recurring Revenue (“ARR”) at 30 June 2026 was £2.8 million (31 December 2025: £2.8 million) reflecting continued strong retention of customers across the Group's subscription products. At 31 August 2026, ARR has increased to £3.0 million with further contract wins.
The Group order book at 30 June 2026 stood at £4.0 million (FY25: £3.8 million) and subsequently increased to £4.7 million at 31 August 2026. New contract wins since the period end more than offset the conversion of existing order book into revenue, demonstrating continued sales momentum and providing increased visibility over future revenues. Of the £4.7 million order book, £2.1m is expected to be recognised as revenue in 2027.
Cost Management
Getech implemented a substantial cost reduction programme during H1 2025. The benefits of this programme have continued into 2026 and, as a result, the Group's cost base, excluding exceptional items, reduced by 2% compared with H1 2025.
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Variance from prior period |
6 months ended 30 June 2026 |
6 months ended 30 June 2025 |
12 months ended 31 December 2025 | ||
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Cost of sales |
|
1,220 |
1,154 |
2,402 | ||
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Development costs capitalised |
|
269 |
264 |
662 | ||
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Administrative expenses |
|
1,415 |
1,552 |
3,032 | ||
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Depreciation and amortisation charges |
|
(417) |
(423) |
(807) | ||
|
Share-based payments |
|
(38) |
(59) |
(74) | ||
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Total cost base excluding exceptional items |
-2% |
2,449 |
2,488 |
5,215 | ||
Profitability
In the period under review, Getech recognised revenues of £2.4 million (H1 2025: £2.1 million), representing an increase of approximately 15% compared with the prior period. Combined with the continued benefits of the cost reduction programme implemented in 2025, this resulted in the Group reporting Adjusted EBITDA of £0.2 million (H1 2025: Adjusted EBITDA loss of £0.1 million). The improvement reflects both higher revenues and a more efficient operating cost base.
The Group recorded an operating loss of £0.2 million (H1 2025: £0.9 million loss) and a post-tax loss of £0.2 million (H1 2025: £0.9 million loss). The significant reduction in losses compared with the prior period demonstrates the progress made in restoring profitability while continuing to invest in the Group's products, data assets and growth opportunities.
Note that Adjusted EBITDA is defined as EBITDA excluding exceptional items and share-based payment charges. There were no exceptional items in H1 2026 and share-based payment charges are reported below EBITDA within Finance costs. Accordingly, Adjusted EBITDA and EBITDA are equivalent for H1 2026.
Operating Cash Flow
Getech generated £0.9 million of cash from operating activities during H1 2026 (H1 2025: £0.3 million cash outflow). The improvement reflects higher revenues, improved profitability and a significant reduction in working capital investment compared with the prior period.
The Group benefited from strong cash collection during the period, resulting in a reduction in trade and other receivables and supporting a substantial improvement in operating cash generation. This strong operating cash performance contributed to a net increase in cash balances during the period and further strengthened the Group's financial position.
Liquidity
During H1 2026 there was an overall net cash inflow of £0.5 million (H1 2025: £0.5 million outflow). The cash balance at the period end was £0.6 million (H1 2025: £0.4 million; FY25: £0.2 million), reflecting the strong operating cash generation achieved during the period and the Group's continued focus on cash management and cost control.
Group Statement of Comprehensive Income
for the six months ended 30 June 2026
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6 months ended 30 June 2026 |
6 months ended 30 June 2025 |
12 months ended 31 December 2025 |
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Revenue |
2,406 |
2,087 |
5,004 |
|
Cost of sales excluding amortisation |
(835) |
(777) |
(1,659) |
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Gross profit excluding amortisation |
1,571 |
1,310 |
3,345 |
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Amortisation charged to cost of sales |
(385) |
(377) |
(743) |
|
Gross Profit |
1,186 |
933 |
2,602 |
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Other operating income |
44 |
- |
138 |
|
Administrative expenses excluding depreciation |
(1,383) |
(1,506) |
(2,968) |
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EBITDA Depreciation (charged to administrative expenses) Amortisation (charged to cost of sales) |
232 (32) (385) |
(196) (46) (377) |
515 (64) (743) |
|
Exceptional items |
- |
(286) |
(303) |
|
Operating loss |
(185) |
(905) |
(595) |
|
Finance income Finance costs |
1 (57) |
1 (10) |
1 (22) |
|
Loss before tax Income tax |
(241) - |
(914) 56 |
(616) (25) |
|
Loss for the period |
(241) |
(858) |
(641) |
|
Other comprehensive income Currency translation differences |
42 |
19 |
(47) |
|
Total comprehensive loss |
(199) |
(839) |
(688) |
|
|
|
|
|
|
Earnings per ordinary share |
|
|
|
|
Basic (pence/share) Diluted (pence/share) |
(0.16) (0.16) |
(0.56) (0.56) |
(0.42) (0.42) |
Group Statement of Financial Position
as at 30 June 2026
|
|
30 June 2026 |
30 June 2025 |
31 December 2025 |
|
Non-current assets |
|
|
|
|
Goodwill |
296 |
296 |
296 |
|
Intangible assets |
3,664 |
3,650 |
3,708 |
|
Property, plant and equipment |
202 |
217 |
189 |
|
Investments |
248 |
248 |
248 |
|
Deferred tax asset |
75 |
50 |
75 |
|
|
4,485 |
4,461 |
4,516 |
|
Current assets |
|
|
|
|
Trade and other receivables |
1,193 |
988 |
2,061 |
|
Current tax recoverable |
154 |
192 |
110 |
|
Cash and cash equivalents |
640 |
419 |
177 |
|
|
1,987 |
1,595 |
2,348 |
|
Total assets |
6,472 |
6,056 |
6,864 |
|
Current liabilities |
|
|
|
|
Trade and other payables Current tax liabilities |
2,578 18 |
2,288 - |
2,655 18 |
|
Borrowings |
61 |
- |
138 |
|
Lease liabilities |
43 |
30 |
37 |
|
Provisions |
10 |
- |
10 |
|
Deferred revenue |
- |
- |
1 |
|
|
2,710 |
2,318 |
2,859 |
|
Net current liabilities |
(723) |
(723) |
(511) |
|
Non-current liabilities |
|
|
|
|
Trade and other payables Lease liabilities |
60 112 |
150 10 |
133 121 |
|
|
172 |
160 |
254 |
|
Net assets |
3,590 |
3,578 |
3,751 |
|
|
|
|
|
|
Equity |
|
|
|
|
Called up share capital |
382 |
382 |
382 |
|
Share premium account |
9,831 |
9,831 |
9,831 |
|
Merger reserve |
2,601 |
2,601 |
2,601 |
|
Share-based payment (SBP) reserve |
165 |
73 |
127 |
|
Currency translation reserve |
312 |
336 |
270 |
|
Retained earnings |
(9,701) |
(9,645) |
(9,460) |
|
Total equity |
3,590 |
3,578 |
3,751 |
Group Statement of Changes in Equity
for the six months ended 30 June 2026 (unaudited)
|
|
Share capital |
Share premium |
Merger reserve |
SBP reserve |
Currency translation reserve |
Retained earnings |
Total equity | |||
|
1 January 2026 |
382 |
9,831 |
2,601 |
127 |
270 |
(9,460) |
3,751 | |||
|
Loss for the period |
- |
- |
- |
- |
- |
(241) |
(241) | |||
|
Other comprehensive income |
- |
- |
- |
- |
42 |
- |
42 | |||
|
Total comprehensive income |
- |
- |
- |
- |
42 |
(241) |
(199) | |||
|
Transactions with owners of the company: |
|
|
| |||||||
|
SBP charge |
- |
- |
- |
38 |
- |
- |
38 | |||
|
Transfer of reserves |
- |
- |
- |
- |
- |
- |
- | |||
|
30 June 2026 (unaudited) |
382 |
9,831 |
2,601 |
165 |
312 |
(9,701) |
3,590 | |||
for the six months ended 30 June 2025 (unaudited)
|
|
Share capital |
Share premium |
Merger reserve |
SBP reserve |
Currency translation reserve |
Retained earnings |
Total equity | |||
|
1 January 2025 |
382 |
9,831 |
2,601 |
53 |
317 |
(8,826) |
4,358 | |||
|
Loss for the period |
- |
- |
- |
- |
- |
(858) |
(858) | |||
|
Other comprehensive income |
- |
- |
- |
- |
19 |
- |
19 | |||
|
Total comprehensive income |
- |
- |
- |
- |
19 |
(858) |
(839) | |||
|
Transactions with owners of the company: |
|
|
| |||||||
|
SBP charge |
- |
- |
- |
59 |
- |
- |
59 | |||
|
Transfer of reserves |
- |
- |
- |
(39) |
- |
39 |
- | |||
|
30 June 2025 (unaudited) |
382 |
9,831 |
2,601 |
73 |
336 |
(9,645) |
3,578 | |||
for the year ended 31 December 2025 (audited)
|
|
Share capital |
Share premium |
Merger reserve |
SBP reserve |
Currency translation reserve |
Retained earnings |
Total equity | |||
|
1 January 2025 |
382 |
9,831 |
2,601 |
53 |
317 |
(8,827) |
4,357 | |||
|
Loss for the year |
- |
- |
- |
- |
- |
(641) |
(641) | |||
|
Other comprehensive income |
- |
- |
- |
- |
(47) |
- |
(47) | |||
|
Total comprehensive income |
- |
- |
- |
- |
(47) |
(641) |
(688) | |||
|
Transactions with owners of the company: |
|
|
| |||||||
|
Issued share capital |
- |
- |
- |
74 |
- |
- |
74 | |||
|
Credit to equity for deferred tax on SBP |
- |
- |
- |
- |
- |
8 |
8 | |||
|
31 December 2025 (audited) |
382 |
9,831 |
2,601 |
127 |
270 |
(9,460) |
3,751 | |||
Group Statement of Cash Flows
for the six months ended 30 June 2026
|
|
6 months ended 30 June 2026 |
6 months ended 30 June 2025 |
12 months ended 31 December 2025 |
|
Operating activities |
|
|
|
|
Loss before tax |
(241) |
(914) |
(616) |
|
Adjustments for: |
|
|
|
|
Finance costs |
19 |
10 |
22 |
|
Investment income |
(1) |
(1) |
(1) |
|
Gain on disposal of property, plant and equipment |
- |
- |
4 |
|
R&D expenditure credit income |
(44) |
- |
(139) |
|
Amortisation of intangible assets |
385 |
377 |
743 |
|
Depreciation of property, plant and equipment |
32 |
46 |
64 |
|
Equity-settled share-based payment expense |
38 |
59 |
74 |
|
Increase in provisions |
- |
- |
10 |
|
Gains and losses on exchange rate |
- |
(7) |
- |
|
Operating cash flow before working capital movement |
188 |
(430) |
161 |
|
Movements in working capital |
|
|
|
|
(Increase)/decrease in contract assets |
90 |
310 |
19 |
|
(Increase)/decrease in trade and other receivables |
747 |
149 |
(623) |
|
Increase/(decrease) in contract liabilities |
391 |
(19) |
(301) |
|
Increase/(decrease) in trade and other payables |
(470) |
(306) |
471 |
|
Cash generated by operations |
946 |
(296) |
(273) |
|
Income tax refunded |
- |
- |
134 |
|
Net cash from operating activities |
946 |
(296) |
(139) |
|
|
|
|
|
|
Investing activities |
|
|
|
|
Capitalisation of internally developed intangible assets |
(269) |
(264) |
(522) |
|
Purchase of intangible assets |
(72) |
(156) |
(342) |
|
Purchase of property, plant and equipment |
(28) |
(40) |
(23) |
|
Proceeds from disposal of held-for-sale property |
- |
687 |
689 |
|
Interest received |
1 |
1 |
1 |
|
Net cash from investing activities |
(368) |
228 |
(197) |
|
|
|
|
|
|
Financing activities |
|
|
|
|
Proceeds from borrowings |
- |
- |
150 |
|
Repayment of borrowings |
(77) |
(413) |
(425) |
|
Payment of lease liabilities |
(20) |
(11) |
(55) |
|
Interest paid |
(18) |
(10) |
(22) |
|
Net cash from financing activities |
(115) |
(434) |
(352) |
|
Net increase in cash and cash equivalents |
463 |
(502) |
(688) |
|
Cash and cash equivalents at the beginning of the period |
177 |
898 |
898 |
|
Effect of foreign exchange rates |
- |
23 |
(33) |
|
Cash and cash equivalents at the end of the period |
640 |
419 |
177 |
Notes to the Interim Report
for the six months ended 30 June 2026
Corporate Information
Getech Group plc (“the Company” and ultimate Parent of “the Group”) is a public limited company domiciled and incorporated in England and Wales. The Company’s registered office and principal place of business is Nicholson House, Elmete Hall, Elmete Lane, Leeds LS8 2LJ.
The principal activity of the Group is locating the energy and mineral resources essential for the world's energy transition. Getech's unique data encompassing the most recent 400 million years of Earth's evolution, coupled with its geoscience expertise, AI-driven analytics and extensive GIS capabilities, enables the Company to provide valuable and actionable insights to support resource discovery and development.
The Company's client portfolio is wide-ranging, from governments, municipalities, natural resources and energy companies to consumer goods and computing services companies, all striving to become energy and minerals self-sufficient and drive towards net zero.
Basis of Preparation
The interim results are for the six months ended 30 June 2026. They have been prepared using the recognition and measurement principals of international accounting standards in conformity with the requirements of the Companies Act 2006. As permitted, this interim report has been prepared in accordance with the AIM rules and not in accordance with IAS 34 ‘interim financial reporting’ and therefore the interim information is not in full compliance with international accounting standards.
This interim report does not constitute full statutory financial statements within the meaning of section 434(5) of the Companies Act 2006 and the financial statements are unaudited. The unaudited interim financial statements were approved for issue by the board on 18 September 2026.
The financial statements are prepared on a going concern basis under the historical cost convention, with the exception of certain items measured at fair value, and are presented to the nearest thousand pounds (£’000), except as otherwise stated. They have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year ended 31 December 2025. A copy of the audited financial statements for the period ended 31 December 2025 has been delivered to the Registrar of Companies. The Auditor’s opinion on those financial statements was unqualified.
In making the going concern assessment, the Board of Directors has considered Group budgets and detailed cash flow forecasts for the next 12 months. The detailed forecasting models are built from Board approved budgets. From these budgets, revenue forecasting is regularly updated to take into consideration new contractually committed revenues, market sentiment, our current sales pipeline and any other influencing factors. The Directors then further apply sensitivity testing to the revenue profiles based on the achievement of various levels of revenue from noncontractually committed sources.
These cash flow projections and sensitivities, when considered in conjunction with the Group’s existing cash balances and its ability to adjust costs in accordance with forecast levels of revenue, demonstrate that the Group has sufficient working capital for the forecast period. Consequently, the Directors are fully satisfied that it is appropriate to prepare the accounts on a going concern basis.
Exceptional items
Exceptional costs in all periods reflect restructuring costs.
Earnings per Share (EPS)
|
|
6 months ended 30 June 2026 |
6 months ended 30 June 2025 |
12 months ended 31 December 2025 |
|
Loss attributable to the equity holder of the Group (£’000) |
(241) |
(858) |
(641) |
|
Weighted average number of Ordinary shares in issue |
152,474,375 |
152,474,375 |
152,474,375 |
|
Basic and diluted loss (pence per share) |
(0.16) |
(0.56) |
(0.42) |
Basic EPS is calculated by dividing the profit attributable to equity holders of the parent by the weighted average number of ordinary shares outstanding during the period.
Diluted EPS is calculated by dividing the profit attributable to equity holders of the parent by the weighted average number of ordinary shares outstanding plus the weighted average number of shares that would be issued on conversion of all the dilutive share options into ordinary shares. In the current and comparative period, the Group has incurred losses and as such has not presented any dilution of earnings per share in accordance with IAS 33 'Earnings per share'. However, these dilutive shares would dilute the earnings per share should the Group become profitable.
Adjusted earnings per share
The Directors use 'Adjusted Earnings' and 'Adjusted Earnings per share' as a Key Performance Measure, which is defined as earnings before exceptional items. The calculated Adjusted Earnings for the period is as follows
|
|
6 months ended 30 June 2026 (unaudited) |
6 months ended 30 June 2025 (unaudited) |
12 months ended 31 December 2025 (audited) |
|
Loss attributable to the equity holder of the Group (£’000) |
(241) |
(858) |
(641) |
|
Exceptional items |
- |
286 |
303 |
|
Adjusted earnings |
(241) |
(572) |
(338) |
|
Basic adjusted earnings per share (pence per share) |
(0.16) |
(0.38) |
(0.22) |
Share-based payments
During the period to 30 June 2026, the Group operated an approved Enterprise Management Incentive "EMI" share scheme and an Unapproved Options scheme. Under the share options plans, the Directors can grant options over shares in the Company to employees, subject to approval from the Remuneration Committee. Options are granted with a fixed exercise price and the contractual life of an option of 5 to 10 years. Options will become exercisable on the first to third anniversary of the date of grant. Exercise of an option is subject to continued employment although this condition may be waived at the discretion of the Board.
|
|
|
|
|
|
|
|
| |
|
|
Number of share options |
|
Average exercise price | |||||
|
|
6 months ended 30 June 2026 |
|
Year ended 31 December 2025 |
|
6 months ended 30 June 2026 |
|
Year ended 31 December 2025 | |
|
|
|
|
|
|
p |
|
p | |
|
Outstanding at start |
9,515,579 |
|
5,598,912 |
|
0.62 |
|
8.00 | |
|
Granted in the period * |
- |
|
9,016,667 |
|
- |
|
0.25 | |
|
Forfeited in the period |
- |
|
(5,100,000) |
|
- |
|
8.00 | |
|
Lapsed in the period |
(103,333) |
|
- |
|
0.25 |
|
- | |
|
Exercised in the period |
- |
|
- |
|
- |
|
- | |
|
|
|
|
|
|
|
|
| |
|
Outstanding at end |
9,412,246 |
|
9,515,579 |
|
0.62 |
|
0.62 | |
|
|
|
|
|
|
|
|
| |
* Includes 2,150,000 share options granted as replacement awards for modified share options.
Within the 2025 grant of options are 3,500,000 share options in favour of the Directors of the Group.
Company number
Registered in England and Wales, company number 02891368
Registered office
Nicholson House
Elmete Hall, Elmete Lane
Leeds
Nominated advisor and broker
Cavendish Capital Markets Limited
1 Bartholomew Close
London
EC1A 7BL
Financial PR and IR
Novella Communications Ltd
South Wing, Somerset House
London
WC2R 1LA
Auditor
Crowe UK LLP 3rd Floor,
St George’s House, 56 Peter Street,
Manchester
Solicitors
Womble Bond Dickinson LLP
No 1 Whitehall Riverside
Leeds
LS1 4BN
Principal bankers
National Westminster Bank plc
PO box 183, 8 Park Row
Leeds
LS1 5HD
Registrars
MUFG
Central Square, 29 Wellington Street
Leeds
LS1 4DL
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