The Smarter Web Company (SWC) H1 2026 earnings summary

Executive summary

• Significant progress achieved across all business areas, driven by a three-pillar strategy: profitable recurring operations, a Bitcoin treasury, and disciplined acquisitions.

• Acquisition of Squarebird Agency Ltd in February 2026 expanded the operational platform, with both digital agencies now profitable and collaborating.

• Inclusion in FTSE All-Share and FTSE SmallCap indices in March 2026 enhanced institutional investor reach and share liquidity.

Financial highlights

• Revenue for the six months ended 30 April 2026 was £397,473.

• Operating loss of £2.7 million, mainly due to one-off uplisting costs.

• Reported loss of £71.9 million, almost entirely from a non-cash accounting adjustment due to Bitcoin price decline.

• Underlying business performance aligned with Board expectations, excluding non-cash movements.

• Bitcoin holdings at period end: 2,778 BTC valued at £157 million.

Outlook and guidance

• Board remains confident for the second half of 2026, with both divisions performing in line with expectations.

• Acquisition pipeline continues to develop, supporting ambitions to become a leading UK company.

• Conviction in long-term Bitcoin strategy remains strong, despite recent volatility.