Brave Bison (LSE:BBSN) delivered a strong first-half performance in 2026, supported by recent acquisitions and solid organic growth across the business. Its MiniMBA eLearning platform continued to perform particularly well, with cohort-to-cohort growth exceeding 20%. Net revenue increased 97% year-on-year to £23.7m, while adjusted EBITDA rose 87% to £4.2m. The group also ended the period with net cash of £4.7m despite having taken on its largest-ever loan during 2025.
Trading exceeded both internal forecasts and board expectations, driven by strong performances from the MiniMBA platform, performance marketing and the Sport & Entertainment division. These gains were partly offset by weaker activity within the insights business, where client spending was affected by budget pressures linked to the Middle East crisis. High-margin, platform-based operations accounted for 46% of divisional EBITDA and 33% of net revenue, highlighting the growing importance of scalable digital services. New client wins, including Nestlé, Omnicom, Heineken and McLaren, support the company’s unchanged full-year guidance. The reported first-half figures also exclude any contribution from Brave Bison’s 28% holding in System1 Group plc, whose trading performance and market valuation have strengthened.
Brave Bison’s improving financial performance, stronger balance sheet and return to net cash reinforce its positive outlook, while supportive share price momentum reflects growing investor confidence. However, the shares continue to trade on a relatively demanding valuation, and fluctuations in cash flow and profitability remain factors to monitor as the business continues to scale.
More about Brave Bison
Brave Bison Group plc is a digital marketing and technology company providing services, media and professional training to major global brands. Operating across eight countries with approximately 350 employees, the group is organised into Consultancy & Marketing Services, Sport & Entertainment, and Marketing Skills & Capabilities divisions. It also holds a 28% stake in the UK-listed marketing research business System1 Group plc.
The company’s consultancy division combines data-driven insights with AI-enabled marketing strategies for clients including New Balance, Primark and Google. Its Sport & Entertainment business supports organisations such as the PGA Tour and Real Madrid in growing and monetising digital audiences, while the MiniMBA eLearning platform provides advanced marketing education for enterprise customers including Nestlé, Carlsberg and Salesforce, supporting Brave Bison’s strategy of expanding high-margin, scalable platform businesses.
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