LBG Media Shares Drop 11% on Guidance

LBG Media shares dropped 11% after issuing FY2026 adjusted EBITDA guidance of ~£22 million, below the £25.4 million consensus.
Revenue rose 19% to £52.4 million (22% constant‑currency), driven by a shift to direct revenue streams now over 70% of sales.
Adjusted EBITDA fell to £8.0 million from £12.2 million YoY, attributed to leadership investments, lower‑margin direct sales and weaker indirect referrals.
Board lifted FY2026 revenue target to about £110 million, while cash fell to £28.4 million from £30.8 million at FY2025 end.