Interim Results for six months ended 30 June 2026

SEEEN PLC

30 September 2026

 

30 September 2026

SEEEN plc

(“SEEEN”, the “Group”, or the “Company”)

Interim Results for the six months ended 30 June 2026

Compounding revenue growth of more than 40% for third consecutive year driving profitability

SEEEN plc (AIM: SEEN), the global media and technology platform that delivers AI-infused Key Video Moments to drive increased views and revenues across all video content, is pleased to announce that revenue growth continues to compound at more than 40% as part of its unaudited Interim Results for the six months ended 30 June 2026 (“1H26”), together with an update on current trading and outlook for the Group.

1H Financial and Operating Highlights:

• Revenue grew by 45% to $3.0m, building on 65% and 48% annual growth in full years 2025 and 2024 respectively
  • 40% organic growth, plus two months of revenues from MEDIAL acquisition
  • CSP revenues of $2.7m; technology revenues of $0.3m
• EBITDA of $0.2m (1H25: $0.1m)
• Positive EPS of 0.11c (1H25: loss of 0.42c), reflecting positive effects from compounded growth
• Cash as of 30 June 2026 of $0.6m (FY25: $1.4m), following cash consideration for the acquisition of MEDIAL
• Completed earnings accretive acquisition of MEDIAL
  • 60+ clients in the education and corporate training market
  • $0.8m of annual recurring technology revenues with strong retention rates
  • Total purchase price of approximately £1.2 million with net cash position of £0.15 million at closing with approximately £0.2 million in deferred consideration
• Strategic collaboration with Tiger Tracks to re-sell SEEEN video commerce to its PPC customer base
• Signed five new sports clubs for SEEEN’s CreatorSuite and interactive video offering, including:
  • Bradford Bulls
  • Bromley FC

Post Period Highlights

• Appointment of Nic Hellyer as non-board CFO
• Product development:
  • Completion of initial integration of SEEEN video moments into MEDIAL
  • Launch of new Century Club product to drive direct sponsorship and sales from their legacy video moments with Bradford Bulls signed up as first named customer
  • Launch of upgraded reels gallery
• Conversion of one of MEDIAL’s largest customers from a one-year rolling contract to a three-year deal, reflecting the stronger product offering from the combined Group
• Sales pipeline continues to grow across all of our offerings, potentially including SEEEN’s largest ever sales in the technology space from both Century Club and the training offering, providing further momentum to maintain current compound growth rates

Outlook, CEO Interview and Shareholder Webinar

Consistent growth has continued into the second half, reflecting both organic growth and the acquisition of MEDIAL, including upsales of SEEEN’s solutions to the MEDIAL customer base, whilst continuing to drive improved profitability.

Adrian Hargrave, Chief Executive Officer of SEEEN, will discuss the Company's interim results and trading update with Sarah Lowther for focusIR. Details can be found here: https://media.focusir.com/SEEEN1H26

SEEEN plc will also be holding a webinar for shareholders on Friday 2 October 2026 at Noon BST – you can sign up for and watch the webinar at this link: https://investor.seeen.com/webinars/Pbn6nP-investor-update-2026-interim-results

Adrian Hargrave, CEO of SEEEN, commented:

“As outlined at the FY25 results, we have continued our growth momentum into 1H26, delivering both significant organic growth and the strategic, financially accretive acquisition of MEDIAL. This period represents the third year of more than 40% growth in revenues with positive momentum continuing into 2H26.

During the period, we successfully grew all parts of the business with technology growing by 50% and our CSP business growing by 35%. This demonstrates that we have a clear value proposition for video owners in the age of AI, as customers use our algorithms to both better monetise video directly or make them more discoverable on third part platforms, ranging from YouTube to Claude and ChatGPT.

The acquisition of MEDIAL is a strong blueprint for the type of acquisition or partnership we are looking for. We acquired a business with a well-established client base in the education and corporate training sector, generating significant annual recurring revenues for video-based solutions. We have already proven that we can integrate and upsell our SEEEN technology to some of its core customers, driving new multi-year deals, as well as direct upsells. As we deepen the integration of the two products, we expect this will only accelerate and also make our offering more attractive to a wider customer base.

With our strong customer results and references and ongoing growth and acquisition/partnership pipeline, we look forward to continuing to deliver strong compounded growth of the business at both the revenue and profit levels and delivering value for our shareholders.”

For further information please contact:

SEEEN plc Adrian Hargrave, CEO	https://investor.seeen.com/link/Png7ny Website: seeen.com
Zeus Capital Limited (Nominated Adviser and Broker)	Tel: [phone]
Mike Coe / James Bavister (Corporate Finance)

focusIR (Investor Relations) Paul Cornelius / Kat Perez

Tel: [phone] [e-mail]

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”).

CEO’s Statement

Since the start of 2024, SEEEN has delivered compounded annual revenue growth of more than 40%. During the first half of 2026, this has driven positive earnings at all levels. In addition, SEEEN took the important strategic step of acquiring MEDIAL, the first acquisition made by the Group since its IPO.  MEDIAL brings with expertise in the provision of video technology and storage in the education and training sector with more than 60 customers into which SEEEN can upsell its technology. We have already begun to see the synergistic benefits of this acquisition with some key customers agreeing to longer term contracts. Through the combination of SEEEN’s organic growth engines and the acquisition of MEDIAL, we have put in place the necessary components to maintain our compound growth rate by adding new customers and cross-selling and up-selling to more of our existing customers.

During the half, group revenue increased by 45% to $3.0 million (1H25: $2.1 million), including approximately 40% organic growth and two months of contribution from MEDIAL. Gross profit increased by 52% to $0.8 million, and EBITDA rose to $0.2 million (1H25: $0.1 million). Importantly, we have also reported our maiden positive EPS of 0.11c, which should rise disproportionately as revenues compound.

Our technology continues to help customers make more effective use of their video content: identifying the moments that matter, making them easier to find and using them to drive engagement and revenue. We have continued to develop our relationships with existing customers while seeking opportunities to sell our technology alongside our content services.

The acquisition of MEDIAL has added more than 60 customers and approximately $0.8 million of annual recurring technology revenue. It also provides us with an established video platform and a wider customer base to which we can introduce SEEEN’s AI-infused Key Video Moments and interactive video capabilities. We have started to bring these products together by combining MEDIAL’s long form lecture content with SEEEN’s ability to generate and search directly for key video moments within a library of content. This has led to a unique offering that enables students to find the pieces they need faster, making learning more efficient. We have already started signing up new clients for this combined offering, including one of MEDIAL’s flagship customers switching from a one-year rolling contract to a 3-year agreement.

We also agreed a strategic collaboration with Tiger Tracks to introduce SEEEN’s video commerce solutions to its pay per click customer base. This gives us another route to reach businesses that are already investing in digital customer acquisition and would benefit from using interactive video to improve the return on that investment by lowering customer acquisition costs from Pay Per Click marketing.

At 30 June 2026, the Group held cash of $0.6 million, following the acquisition of MEDIAL. Operating cash flow before working capital movement was breakeven. We continue to manage expenditure carefully while investing in the product and commercial work needed to support our rapid growth.

Appointment of CFO

SEEEN has appointed Nic Hellyer as non-board CFO on a fractional basis. Nic qualified as a Chartered Accountant with KPMG in London and then moved into investment banking where he advised small and midcap companies in a wide range of transactions, including IPOs, fundraisings, public company M&A and private company sales and acquisitions, holding senior roles at UBS and HSBC. Latterly he has served on a number of other public company boards in CFO and non-executive director roles.

Outlook

Growth has continued into the second half of the year, reflecting continued organic growth and a fuller contribution from MEDIAL, including selling SEEEN’s solutions to the MEDIAL customer base. Furthermore, we have seen increased engagement and faster sales cycles with sports organisations based around our Century Club offer.

Our priorities for the remainder of 2026 are to develop the combined MEDIAL and SEEEN offering, deepen customer relationships and convert our commercial pipeline across all our business lines. The first half has shown our ability to continue growing revenue while improving profitability and making a strategic acquisition. We now need to build on that progress by delivering the full benefits of the Enlarged Group and driving further growth by focusing on executing on sales, customer delivery and new partnerships in our core target sectors.

Adrian Hargrave

Chief Executive Officer

Interim Consolidated Statement of Comprehensive Income

For the six months ended 30 June 2026

	Six months ended 30 June 2026	Six months ended 30 June 2025
	$	$
	Unaudited	Unaudited
Revenue	2,975,966	2,055,094
Cost of sales	(2,168,883)	(1,523,344)
Gross profit	807,083	531,750
Administrative expenses
-           Share-based payments	(403)	(389)
-           Amortisation of intangibles	(21,184)	(584,444)
-           Other administrative costs	(583,897)	(438,582)
Total administrative expenses	(605,484)	(1,023,415)
Operating profit / (loss)	201,599	(491,664)
Finance (expense) / income	(49,165)	(25,289)
Profit / (Loss) before tax	152,434	(516,953)
Taxation	4,025	-
Profit / (Loss) for the period	156,459	(516,953)
Other comprehensive income
Exchange differences arising on translation of foreign operations	271,776	(137,220)
Total comprehensive profit / (loss) for the period	428,235	(654,173)
Earnings (loss) per share	Cents	Cents
Basic	0.11	(0.42)
Diluted	0.11	(0.42)

Interim Consolidated Statement of Financial Position as at 30 June 2026

	At 30 June 2026	At 30 June 2025
	$	$
	Unaudited	Unaudited
ASSETS
Non-current assets
Goodwill	757,247	-
Intangible assets	832,031	1,057,550
Other receivables	1,800	1,800
	1,591,078	1,059,350
Current assets
Trade and other receivables	1,199,728	1,195,358
Cash and cash equivalents	620,086	1,412,899
	1,819,814	2,608,257
TOTAL ASSETS	3,410,892	3,667,607*
EQUITY AND LIABILITIES
Equity attributable to holders of the parent
Share capital	7,518,978	7,510,138
Share premium	12,292,839	12,029,605
Merger reserve	8,989,501	8,989,501
Share based payment reserve	397,109	239,516
Convertible loan note reserve	217,538	217,538
Foreign exchange reserve	659,031	245,030*
Retained profit	(29,264,243)	(27,260,497)
Total Shareholders’ Equity	810,753	1,970,831
Non-current liabilities
Deferred tax liability	177,959	17,408
Deferred Consideration	291,504	-
Loan note liabilities	709,113	222,111
Options liability	24,272	13,928
	1,202,848	253,447
Current liabilities
Trade and other payables	1,397,291	1,443,329
	1,397,291	1,443,329
TOTAL EQUITY AND LIABILITIES	3,410,892	3,667,607

* Comparative figures for the six months ended 30 June 2025 have been updated to reflect adjustments identified during the audit of the year ended 31 December 2025

Interim Consolidated Statement of Cash Flows

For the six months ended 30 June 2026

	Six months ended 30 June 2026	Six months ended 30 June 2025
	$	$
	Unaudited	Unaudited
Cash flows from operating activities
Profit / (Loss) before tax	152,434	(516,953)
Adjustments for non-cash/non-operating items:
Amortisation of intangible assets	21,184	584,444
Share based payments	403	389
Fair value movement on options liability	-	4,502
Write off of fixed assets	-	-
Interest paid / (received)	49,165	25,289
Operating cash flows before movements in working capital	223,186	97,671*
(Increase) / decrease in trade and other receivables	(230,753)	(326,383)
(Decrease) / increase in trade and other payables	(274,516)	(228,478)
Cash generated/(used) by operations	(282,083)	(457,190)*
Income taxes paid	-	-
Net cash generated/(used) in operating activities	(282,083)	(457,190)*
Cash flows from investing activities
Purchase of intangibles	(158,000)	(191,039)
Acquisition costs less net cash acquired	(983,505)	-
Net cash used in investing activities	(1,141,505)	(191,039)
Cash flows from financing activities
Proceeds from issue of shares	249,750	1,100,243
Proceeds from loan note	465,750	-
Interest received / (paid)	(49,165)	(25,289)
Net cash generated by/(used in) financing activities	666,335	1,074,954
Net (decrease)/increase in cash and cash equivalents	(757,253)	426,725*
Effect of exchange rates on cash	(14,682)	(16,840)*
Cash and cash equivalents at the beginning of period	1,392,021	1,003,014
Cash and cash equivalents at end of period	620,086	1,412,899

* Comparative figures for the six months ended 30 June 2025 have been updated to reflect adjustments identified during the audit of the year ended 31 December 2025

Notes to the Interim Consolidated Financial Information

for the six months ended 30 June 2026

1.       General information

The Group is a global media and technology platform that delivers Key Video Moments and Video Commerce to transform its clients’ video profitability.

The Company is a public limited company domiciled in the United Kingdom and incorporated under registered number 10621059 in England and Wales. The Company’s registered office is 27-28 Eastcastle Street, London W1W 8DH.

2.       Significant accounting policies

Basis of preparation and changes to the Group’s accounting policies

The accounting policies adopted in the preparation of the interim consolidated financial information are consistent with those of the preparation of the Group’s annual consolidated financial statements for both the completed year ended 31 December 2025 and anticipated year ending 31 December 2026. No new IFRS standards, amendments or interpretations became effective in the six months to 30 June 2026.

Statement of compliance

This interim consolidated financial information for the six months ended 30 June 2026 has been prepared in accordance with UK adopted International Accounting Standards (“Adopted IFRSs”). This interim consolidated financial information is not the Group’s statutory financial statements and should be read in conjunction with the annual financial statements for the year ended 31 December 2025, which have been prepared in accordance with Adopted IFRS and have been delivered to the Registrar of Companies. The auditors have reported on those accounts; their report was unqualified and did not contain statements under section 498(2) or (3) of the Companies Act 2006.

The interim consolidated financial information for the six months ended 30 June 2026 is unaudited. In the opinion of the Directors, the interim consolidated financial information presents fairly the financial position, and results from operations and cash flows for the period. Comparative numbers for the six months ended 30 June 2025 are unaudited.

This interim consolidated financial information is presented in US Dollars ($), rounded to the nearest dollar.

Foreign currencies

Functional and presentational currency

Items included in this interim consolidated financial information are measured using the currency of the primary economic environment in which each entity operates which is considered by the Directors to be Pounds Sterling (£) for the Parent Company and US Dollars ($) for all the Company’s subsidiaries. This interim consolidated financial information has been presented in US Dollars which represents the dominant economic environment in which the Group operates. The effective exchange rate at 30 June 2026 was £1 = US$1.325 (30 June 2025: £1 = US$1.373).

Acquisition accounting

The acquisition of Medial has been accounted for in accordance with IFRS 3 Business Combinations. The purchase price allocation and the resulting fair values of the identifiable assets acquired and liabilities assumed are provisional at the reporting date, pending completion of the Group's assessment of certain fair values and other acquisition accounting matters.

Accordingly, the amounts recognised in respect of the consideration transferred, identifiable net assets acquired and goodwill are subject to change as further information is obtained about facts and circumstances that existed at the acquisition date. Any adjustments arising from the completion of the acquisition accounting will be recognised retrospectively in accordance with the measurement period requirements of IFRS 3.

The provisional fair values and related amounts included in these interim financial statements are based on information available to management at the reporting date and may therefore differ from the amounts that will be included in the Group's subsequent annual financial statements once the acquisition accounting has been finalised.

Critical accounting estimates and judgments

The preparation of interim consolidated financial information requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and the reported amounts of income and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions, the resulting accounting estimates will, by definition, seldom equal the related actual results.

In preparing this interim consolidated financial information, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ended 31 December 2025, together with the recognition of development expenditure, described below.

Development expenditure

The Group recognises costs incurred on development projects as an intangible asset which satisfies the requirements of IAS 38. The calculation of the costs incurred includes the percentage of time spent by certain employees and contractors on relevant development projects. The decision whether to capitalise and how to determine the period of economic benefit of development projects requires an assessment of the commercial viability of the projects and the prospect of selling the project to new or existing customers. During the six months ended 30 June 2026, the Group capitalized $0.2m of development expenditure (1H25: $0.2m).

Going Concern

The directors have a reasonable expectation that the Group has adequate resources to continue operating for the foreseeable future, and for this reason they have adopted the going concern basis of preparation in the consolidated interim financial statements.

3.       Trade Payable and Receivables

The majority of trade payables and receivables relate to receivables from YouTube and payables to creator partners. In addition, trade and other payables includes accruals for expenses to be accrued during the year, payments to consultants who are paid monthly in arrears and historic liabilities of the acquired businesses that relate to payables more than two years ago and the Group does not expect to need to pay.

4.       Earnings per share

The profit per share has been calculated using the loss for the period and the weighted average number of ordinary shares outstanding during the period, as follows:

	Six months ended 30 June 2026	Six months ended 30 June 2025	Year ended 31 December 2025
	Unaudited	Unaudited	Audited
Earnings attributable to shareholders of the Company ($)	156,459	(516,953)	(2,668,870)
Weighted average number of ordinary shares	140,003,514	122,347,892	131,739,161
Diluted weighted average number of ordinary shares	140,003,514	122,347,892	131,739,161
Profit / (Loss) per share (cents)	0.11	(0.42)	(2.03)
Diluted profit / (loss) per share (cents)	0.11	(0.42)	(2.03)

5.       Publication of announcement and the Interim Results

A copy of this announcement will be available at the Company’s registered office (27-28 Eastcastle Street, London, W1W 8DH) from the date of this announcement and on its website – seeen.com. This announcement is not being sent to shareholders.

 

END