The Smarter Web Company (SWC) H2 2025 earnings summary

Executive summary

• Raised £225.2m during the year, including £209.4m in equity and £15.8m in Bitcoin-backed convertible notes.

• Ended the year with 2,660 Bitcoin held, valued at approximately £220m.

• Achieved profit before tax of £2.84m; excluding one-off gains and fair value adjustments, would have reported a pre-tax loss of £1.47m.

• Transitioned to the Main Market of the London Stock Exchange in February 2026, enhancing profile and liquidity.

• Acquired The Smarter Web Company Operations Limited, expanding the operating platform.

Financial highlights

• Revenue for the year was £70,029; gross profit £60,793.

• Administrative expenses totaled £1.84m, leading to an operating loss of £1.78m.

• Other gains and losses, primarily from fair value adjustments, totaled £4.31m.

• Net comprehensive income was £1.62m, compared to a loss of £0.5m the previous year.

• Basic earnings per share were 1.24p, compared to a loss of 7.16p per share last year.

Outlook and guidance

• Focus remains on executing the growth strategy, progressing the acquisition pipeline, and disciplined Bitcoin treasury management.

• Board expresses confidence entering FY2026, supported by a strengthened balance sheet and clear strategic roadmap.