FDV H1 2026: EBITDA Margin Hits 17% as Revenues Fall 27%

Frontier Digital Ventures reported revenue of USD 14.4 million for the six months to 30 June 2026, down 27%, and group statutory EBITDA of USD 2.4 million, up 18%. The margin rose from 10% to 17%.

These are FDV's first accounts in US dollars, after switching presentational currency from Australian dollars on 1 January 2026. Comparatives have been restated. Highlights from the half year statements:

• Group operating expenses of USD 12.0 million, down 32%
• EBITDA from associates of USD 1.2 million, taking group operating EBITDA to USD 3.6 million, up 13%
• EBIT of USD 2.2 million, against a USD 0.3 million loss
• Free cashflow up USD 2.3 million against USD 0.6 million, with conversion of 98% against 28%
• Depreciation and amortisation of USD 1.1 million, down 55%
• Average monthly headcount down 19%, with employment costs down 16%
• Group headcount at 30 June 8% below 31 December, after a 13% cut in the second half of 2025

Revenue fell by USD 5.33 million and operating expenses by USD 5.71 million, a difference of USD 373,000, matching the reported EBITDA movement.

FDV raised prices in most core markets, reduced subscription package variations and directed customers towards depth products such as featured listings.

The company said the period "reflects continued execution of FDV's strategic reset, with management focused on core revenue streams, operational efficiency, simplification of the customer proposition and disciplined cash management."

FDV restated its 40% EBITDA margin and 75% cashflow conversion target. An investor presentation is due before 21 September.