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THE BEAUTY TECH GROUP PLC ( " THE BEAUTY TECH GROUP " , " COMPANY " OR THE " GROUP " ) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026 Technology leadership and brand strength underpin another period of strong revenue growth and margin expansion . The Beauty Tech Group plc ( LSE : TBTG ) today announces its unaudited interim results for the six months ended 30 June 2026 ( " H1 FY2026 " ) . In H1 FY2026 , Adjusted EBITDA grew 53.0 % to £ 21.3m on revenue growth of 44.3 % , with Adjusted EBITDA margin improving to 26.7 % ( H1 FY2025 : 25.2 % ) . This continues the consistent improvement in both revenue and margin delivered over each of the last five years . The Group remains well positioned within a category that has grown at two to four times the rate of the wider beauty market and still accounts for only around 1 % of what consumers spend on beauty in its core markets . Key financial information ( unaudited ) ( £ ' 000 ) Revenue Gross profit H1 FY2026 H1 FY2025 Change 79,716 55,237 44.3 % 51,303 33,583 52.8 % Adjusted EBITDA¹ 21,295 13,920 53.0 % Adjusted profit before tax¹ 15,332 10,290 49.0 % Adjusted basic and diluted EPS² ( p ) 10.4p 7.0p 48.6 % Free cash flow³ 11,456 ( 6,677 ) n / m Free cash flow conversion³ 53.8 % n / m n / m Statutory results Operating profit 16,753 Profit before taxation 17,508 Basic EPS 11.8p Diluted EPS 11.3p 9,268 5,003 3.2p 3.2p 80.8 % 250.0 % 268.8 % 253.1 % 1 See note 6 for the reconciliation of Adjusted EBITDA ( £ 21.3m ) and Adjusted PBT ( £ 15.3m ) . 2 Adjusted basic and diluted earnings per share ( " EPS " ) for H1 FY2025 is 7.0p ( note 12 ) ; statutory basic and diluted EPS is 3.2p ( no dilutive instruments were in issue in H1 FY2025 but in H1 FY2026 diluted EPS reflects the nil - cost options granted under the Combined Incentive Plan in March 2026 ) . 3 Free cash flow of £ 11.5m reflects the later phasing of this year's stock build , which falls in the second half ahead of the principal launches . Free cash flow in H1 FY2025 was negative , reflecting the first - half working capital build and £ 0.9m of interest paid on pre - IPO borrowings , so a conversion percentage for that half is not meaningful ( n / m ) . The Group monitors conversion on a rolling twelve - month basis ; see Cash flow and cash flow conversion in the Chief Financial Officer's Review . Group financial highlights H1 FY2026 performance ahead of the Board's original expectations across all key metrics : Revenue increased by 44.3 % to £ 79.7m ( H1 FY2025 : £ 55.2m ) Profit before tax increased by 250.0 % to £ 17.5m ( H1 FY2025 : £ 5.0m ) , reflecting strong margin growth and the removal of pre - IPO financing costs Gross profit increased by 52.8 % to £ 51.3m ( H1 FY2025 : £ 33.6m ) Gross margin of 64.4 % ( H1 FY2025 : 60.8 % ) , a half - year record CurrentBody Skin gross margin up 4.5 percentage points to 66.1 % ( H1 FY2025 : 61.6 % ) Adjusted EBITDA increased by 53.0 % to £ 21.3m ( H1 FY2025 : £ 13.9m ) with margin expansion to 26.7 % ( H1 FY2025 : 25.2 % ) Adjusted PBT increased by 49.0 % to £ 15.3m ( H1 FY2025 : £ 10.3m ) Adjusted operating profit up 58.3 % to £ 18.0m ( H1 FY2025 : £ 11.4m ) Adjusted EPS increased by 48.6 % to 10.4p ( H1 FY2025 : 7.0p ) Free cash flow of £ 11.5m ( H1 FY2025 : outflow of £ 6.7m ) , 53.8 % of Adjusted EBITDA Net cash of £ 52.0m at 30 June 2026 ( 31 December 2025 : £ 40.8m ) , no debt Operating ROCE of 65.2 % over the last 12 months ( FY2025 : 57.9 % ) Operational and strategic highlights CurrentBody Skin completed development of its third - generation LED range , launching in the second half following two years of research and development ( including clinical testing ) , with improvements to performance , functionality and the Group's intellectual property position Continued investment in clinical studies across new wavelengths . The Group completed significant studies with independent laboratories during the half , exploring new ways of using its technologies and new ways of improving the skin . Its study with the University of Manchester continues , using biopsy analysis to measure change in the skin itself rather than relying on surface measurement or self - reported outcomes . We believe it is the first time this has been done on a home - use LED device . Initial findings have been published , with the full report to follow Initial investment in the Group's own laboratory , opening in early 2027. This will let us explore new ways of using and improving our existing technologies in - house and at greater pace , with independent laboratories continuing to validate the results we take to market ZIIP Beauty completed manufacturing improvements , with unit cost improvements built into the new range launching in the second half . Together these give the brand the range and the economics to support planned marketing and sales investment from 2027 Set - up of the Group's own European warehouse began in the half , bringing operations in - house from a third - party provider ; it will be fully operational in the second half , giving the Group direct control of stock and of the customer experience across the region Outlook and post - period highlights The Group enters its seasonally stronger second half with accelerating momentum , a healthy net cash position and a significant product launch pipeline The Board remains confident in delivering full - year revenue in line with the upgraded guidance announced on 7 July 2026 of no less than £ 170.0m . However , with the strong Adjusted EBITDA margin expansion in H1 FY2026 and