**Summary**
Brave Bison Group PLC released a trading update for the fiscal year 2025 (FY25), reporting strong performance ahead of consensus expectations. Key financial highlights include
**Net Revenue** ยฃ33.5 million, a 57% increase from FY24 (ยฃ21.3 million), surpassing consensus estimates of ยฃ31.5 million.
**Adjusted EBITDA:** ยฃ6.5 millionup 44% from FY24 (ยฃ4.5 million)exceeding consensus of ยฃ6.1 million.
**Adjusted Profit Before Tax** ยฃ5.5 million, a 41% rise from FY24 (ยฃ3.9 million), ahead of consensus at ยฃ5.2 million.
**Net Cash** ยฃ4.3 million, significantly better than the consensus net debt expectation of ยฃ3.6 million, despite a 42% decrease from FY24 (ยฃ7.5 million).
The strong performance was driven by robust trading in the Sport & Entertainment division during Q4. The company expects to repay all outstanding bank debt by the end of 2026, ahead of schedule, and plans to use excess free cash flow for acquisitions and dividend payments. The Board is confident in FY26 consensus expectations of ยฃ45 million in net revenue and ยฃ9.4 million in Adjusted EBITDA.
Brave Bisonโs revenue and profit profile is now expected to be more weighted toward the second half of each year due to the timing of its MiniMBA courses. The company operates across eight countries, offering digital marketing services and content monetization through its Digital Services and Digital Content divisions, with clients including global brands like Google, Formula 1, and American Express.
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> ### Explanation:
1. **Table Structure**: The table compares key financial metrics (Net Revenue, Adj. EBITDA, Adj. Profit Before Tax, and Net Cash) for FY25 and FY24, along with the percentage change.
2. **Styling**: Basic CSS is included for table styling, making it visually appealing and easy to read.
3. **Notes**: Additional notes are included below the table to provide context and clarify definitions, as per the footnotes in the original text. This HTML code can be directly used in a web page to display the financial comparison.