Team Internet Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

Team Internet Group is a global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, as well as from the distribution of domain names.

Team Internet’s largest addressable market is online marketing, with global spending reaching US$616bn in 2022 and forecast to grow at a CAGR of 10% to 2027, according to Statista. While Team Internet currently has a small share of this market, its proprietary digital marketing capabilities and blue-chip partnerships offer the potential for rapid growth. However, further market consolidation may result in heightened competition from larger competitors, namely marketing technology companies such as The Trade Desk and AppLovin.

Latest Insights

TMT |
Update

19.03.24

Team Internet Group — Growth and returns, acquisition bolsters outlook

TMT |
edison tv

19.03.24

Team Internet – executive interview

TMT |
Flash note

29.01.24

Team Internet Group — Solid on all fronts

TMT |
Update

13.11.23

Team Internet Group — Diversity delivering resilience

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Sector

TMT

Equity Analyst

Dan Ridsdale

Head of Technology

Katherine Thompson

Director

Key Management

Billy Green

CFO
Iain McDonald

Chairman
Martin Surzyn

Head of investor relations
Michael Riedl

CEO

Balance Sheet

Forecast net debt (US$m)

28.5

Forecast gearing ratio (%)

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	6.0	8.8	27.7
Relative	1.1	(0.7)	19.2
52 week high/low	148.4p/109.0p

Financials

Team Internet’s FY23 results exceeded our forecasts and consensus on revenue and EBITDA. Online Marketing was driven by increased consumer engagement, reflecting investment in delivering more targeted ads across a wider array of channels. The group’s latest acquisition, Shinez, strengthens Online Marketing via diversification of publishers and is earnings accretive with scope for further synergies. Online Presence returned to strong revenue growth, driven by demand for exotic domains, pricing optimisation and strategic partnerships. Robust free cash flow enabled diverse capital allocation, focused on shareholder returns.