GlobalData Plc
Half Year Results
30 June 2026
Resilient H1 performance and strategic evolution to drive long-term value creation
GlobalData Plc (LSE: DATA, GlobalData, the Group), the leading data, insight, and technology company, today publishes its results for the half year ended 30 June 2026 (HY26).
The period saw stable operational performance alongside the continued strategic evolution of the Group’s operating model to an end-market divisional structure to drive long-term value creation.
Commenting on H1 performance and GlobalData’s strategic evolution, Mike Danson, Chief Executive Officer of GlobalData Plc, said: “As we approach the conclusion of the Growth Transformation Plan, we can reflect on the significant operational progress made. We have established an end-market-led divisional structure, brought entrepreneurial leadership closer to our customers and created a corporate centre focused on disciplined value creation. While H1 saw substantial organisational progress, revenue and growth remained below our ambitions and the benefits of the transformation have not yet been reflected in our financial performance. The foundations are now in place, and our focus is firmly on execution.
Healthcare provides a clear proof point for the strength of the model and demonstrates its potential to be replicated across the portfolio. We are also seeing encouraging early signs elsewhere: Consumer delivered underlying revenue growth of 7% in the half while renewal rates remained resilient across both the Healthcare and Non-Healthcare divisions.
Our immediate priority is to accelerate underlying revenue growth, supported by targeted investment. Underlying revenue growth has been more muted than expected, and full-year revenue is now expected to track consistent with first-half performance – still in line with market expectations, albeit towards the lower end of the range. This revenue outturn, together with new investment in AI-native workflows, proprietary data and human expertise, means full-year margins are expected to be more consistent with the first half. These investments are designed to improve revenue quality, driving stronger renewal rates, accelerate growth over the longer term, as well as driving margin efficiency.
Our continued investment for growth is focused on building market-leading businesses, while maintaining a flexible and disciplined approach to capital allocation and to realising value across the portfolio. The resilience of our subscription revenues and strength of balance sheet provide the capacity to invest both for growth and return capital to shareholders.”
Resilient growth in challenging markets
- Revenue grew 4% to £162.9m (HY25: £156.5m), with underlying¹ growth of 1%, reflecting a challenging macroeconomic backdrop in which sales cycles elongated industry-wide, as well as the ongoing embedding of key investments and transformation across the business.
Underlying profitability in line with HY25
- Underlying Adjusted EBITDA and Adjusted operating profit were flat year-on-year, when adjusting for currency and one-off revenue benefits (see note 3 of Financial Review). On a reported basis:
- Adjusted EBITDA¹ increased 5% to £54.8m (HY25: £52.1m) (reflecting flat performance on an underlying basis), with Adjusted EBITDA margin¹ improving one percentage point to 34% (HY25: 33%).
- Adjusted operating profit¹ increased 6% to £46.7m (HY25: £44.0m), with adjusted operating profit margin¹ improving one percentage point to 29% (HY25: 28%).
- Profit before tax reduced by 6% to £23.2m, as finance charges increased due to increased bank debt.
- Adjusted fully diluted EPS¹ increased 8% to 2.7p (HY25: 2.5p).
Customer relationships are holding and forward visibility of FY26 is strong
- Volume and value renewal rates have been consistent through the half across both Healthcare and Non-Healthcare.
- Contracted Forward Revenue¹ grew 4% to £163.3m (HY25: £157.4m), reflecting underlying growth of 1%, providing strong visibility for the remainder of FY26 and beyond.
Active measures being undertaken
- Investment in proprietary data and AI-first transformation underway, which will enhance the depth, coverage and timeliness of our key datasets. These investments are focused on improving KPI’s around client usage and renewal rates, with some AI-driven operational efficiencies expected to flow into FY27 and beyond.
- Continue to invest in sales and go-to-market teams
- We have clear examples of where existing investment has worked well in the past 18 months (Consumer division grew underlying 7% in H1), as well as Non-Healthcare Inside Sales (which have started to see signals in churn improvement) and we will continuously evolve and invest in our sales teams, drawing on best practice in the Group.
- Strong central model to drive value via a centralised operating model, allowing our divisional management teams to focus on their customers and end markets.
- Strengthened leadership, deeper talent and playbooks.
Disciplined capital allocation and a clear medium-term path
- The Group continues its flexible strategy on capital allocation, with the acquisition of Cambridge Healthcare in the first half as well as £19m returned to shareholders through share buybacks.
- A further £30m tender was announced at the end of H1, which has now completed, taking capital returned to over £49m during FY26 to date, contributing to 8% increase in Adjusted diluted earnings per share.
- Our medium-term targets reflect a clear focus on accelerating underlying revenue growth. With supporting investment for growth acceleration, we expect a more measured recovery of Adjusted EBITDA margins towards 40%.
Continued M&A value opportunities:
- For Non-Healthcare, the near-term M&A focus is on realising revenue synergy opportunities from recent acquisitions, with M&A in the Non-Healthcare division de-prioritised in the interim as previously signalled.
- The Healthcare division will continue to actively pursue M&A with a focus on assets with revenue growth, proprietary content, quality of earnings and high customer retention metrics.
Highlights
Financial results for the six months ended 30 June 2026.
| Key performance metrics | HY 2026 | HY 2025 | Growth | Underlying growth1 |
| Revenue | £162.9m | £156.5m | 4% | 1% |
| Operating profit | £30.9m | £28.5m | 8% | |
| Operating profit margin | 19% | 18% | 1pt | |
| Adjusted EBITDA1 | £54.8m | £52.1m | 5% | 0% |
| Adjusted EBITDA margin1 | 34% | 33% | 1pt | |
| Profit before tax (PBT) | £23.2m | £24.7m | -6% | |
| Basic earnings per share (EPS) | 1.2p | 0.8p | 50% | |
| Adjusted basic EPS (restated)1 | 2.7p | 2.5p | 8% | |
| Interim dividend per share | 0.3p | 0.3p | – | |
| Contracted Forward Revenue1 | £163.3m | £157.4m | 4% | 1% |
| Net bank debt1 | (£133.0m) | (£16.8m) | 692% |
Outlook: building momentum and evolving strategy to drive long-term value creation
- For FY26, underlying revenue growth is expected to be more muted than expected, still in line with market expectations2, albeit towards the lower end of the range.
- The reduction in revenue outturn, together with targeted investments through the second half will mean margins are more subdued than market expectations, and in line with the first half Adjusted EBITDA margin. Therefore, we expect Adjusted EBITDA for FY26 to be below market expectations.
- Longer term, the investments that we are making now should lead to a positive impact on revenue quality and client renewal rates giving us a stronger foundation for accelerating growth, as well as delivering operational and margin benefits.
- GlobalData continues to be focused on delivering long-term sustainable growth, underpinned by its resilient subscription model, differentiated proprietary data and content, increasing application of AI and divisional-value creation model. The Board believes that investment at this time to support revenue growth is in the best interests of long-term value creation and therefore expects a more cautious recovery in margins in the medium term than previously stated.
- The Group will maintain a flexible and opportunistic approach to capital allocation, balancing investment for growth, selective M&A and returns to shareholders.
Note 1: Defined in the explanation of non-IFRS measures on page 18.
Note 2: Current analyst consensus for FY26 is as follows: Revenue within a range of £325.3m – £335.7m, Adjusted EBITDA within a range of £121.0m – £126.7m.