$GRSD

GRANDSTAND Ltd

CIK:0001839799|SEC Filings

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of comprehensive income [abstract]
Revenue	$ 165,447	$ 127,182	$ 108,652
Cost of sales	(15,261)	(7,536)	(9,112)
Gross profit	150,186	119,646	99,540
Sales and marketing expenses	(63,003)	(41,897)	(35,331)
Technology expenses	(24,789)	(13,949)	(10,287)
General and administrative expenses	(32,169)	(27,645)	(24,291)
Movements in credit losses allowance and write-offs	(329)	(480)	(914)
Impairment loss on intangible assets	(14,006)	0	0
Fair value movement on contingent consideration	(47,678)	0	(6,939)
Operating (loss) profit	(31,788)	35,675	21,778
Finance income	7,826	1,570	634
Finance expenses	(8,446)	(3,095)	(2,271)
(Loss) income before tax	(32,408)	34,150	20,141
Income tax charge	(522)	(3,471)	(1,881)
Net (loss) income for the year attributable to shareholders	(32,930)	30,679	18,260
Items that are or may be reclassified subsequently to profit and loss
Exchange differences on translating foreign currencies	5,587	(6,605)	2,868
Cash flow hedge - effective portion of changes in fair value	(2,298)	0	0
Cash flow hedges - reclassified to profit or loss	2,453	0	0
Related tax	(19)	0	0
Other comprehensive income (loss) for the year, net of tax	5,723	(6,605)	2,868
Total comprehensive (loss) income for the year attributable to the shareholders	$ (27,207)	$ 24,074	$ 21,128
Net (loss) income per share attributable to shareholders, basic (in usd per share)	$ (0.93)	$ 0.85	$ 0.49
Net (loss) income per share attributable to shareholders, diluted (in usd per share)	$ (0.93)	$ 0.84	$ 0.47

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flow from operating activities
(Loss) income before tax	$ (32,408)	$ 34,150	$ 20,141
Income tax paid	(10,287)	(1,901)	(3,826)
Payment of contingent consideration in relation to business combinations	0	0	(4,621)
Payment of deferred consideration in relation to business combinations	(18,590)	(7,156)	(2,897)
Adjustments for non-cash items:
Depreciation and amortization	14,419	5,802	2,088
Net finance expense	(108)	1,525	1,637
Movements in credit loss allowance and write-offs	329	480	914
Fair value movement on contingent consideration	47,678	0	6,939
Impairment loss on intangible assets	14,006	0	0
Share-based payment expense	6,937	4,953	3,607
Cash flows from operating activities before changes in working capital	21,976	37,853	23,982
Changes in working capital
Trade and other receivables	(2,180)	(98)	(10,387)
Trade and other payables	(692)	(117)	4,240
Inventories	0	0	75
Cash flows generated by operating activities	19,104	37,638	17,910
Cash flows from investing activities
Acquisition of property and equipment	(863)	(1,326)	(451)
Acquisition of intangible assets	0	(21,074)	(6,815)
Capitalization of internally developed intangibles	(3,893)	(1,886)	(1,977)
Acquisition of subsidiaries, net of cash acquired	(68,495)	0	0
Interest received from bank deposits	99	137	259
Payment of deferred consideration in relation to asset acquisitions and business combinations	(25,783)	(19,693)	(4,933)
Payment of contingent consideration in relation to business combinations	0	0	(5,557)
Cash flows used in investing activities	(98,935)	(43,842)	(19,474)
Cash flows from financing activities
Exercise of options	669	1,521	106
Issue of ordinary shares in relation to employee stock purchase plan	374	218	0
Treasury shares acquired	(5,578)	(27,078)	(2,572)
Proceeds from borrowings	132,500	45,560	0
Transaction costs related to borrowings	(6,027)	(847)	0
Repayment of borrowings	(31,819)	(21,060)	0
Repayment of debt assumed in a business combination	(393)	0	0
Repayment of other non-current liability assumed in a business combination	(206)	0	0
Principal proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities	8,438	0	0
Interest proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities	3,754	0	0
Principal payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities	(8,710)	0	0
Interest payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities	(2,590)	0	0
Interest payment attributable to third party borrowings	(6,885)	(888)	0
Interest payment attributable to deferred consideration settled in relation to business combinations	0	(1,272)	(110)
Interest payment attributable to deferred consideration settled for intangible assets	(675)	(461)	0
Principal paid on lease liability	(1,060)	(688)	(402)
Interest paid on lease liability	(324)	(249)	(165)
Cash flows generated from (used in) financing activities	81,468	(5,244)	(3,143)
Net movement in cash and cash equivalents	1,637	(11,448)	(4,707)
Cash and cash equivalents at the beginning of the year	13,729	25,429	29,664
Net foreign exchange differences on cash and cash equivalents	448	(252)	472
Cash and cash equivalents at the end of the year	15,814	13,729	25,429
Supplemental non-cash items
Right-of-use assets	602	4,135	75
Issue of ordinary shares for acquisitions	9,971	0	9,912
Issue of ordinary shares in relation to employee stock purchase plan	$ 67	$ 39	$ 0

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Property and equipment	$ 2,216	$ 1,833
Right-of-use assets	4,207	4,632
Intangible assets	245,681	130,811
Other non-current asset	360	0
Deferred tax asset	4,906	6,418
Total non-current assets	257,370	143,694
Current assets
Trade and other receivables	26,487	21,160
Cash and cash equivalents	15,814	13,729
Total current assets	42,301	34,889
Total assets	299,671	178,583
Equity
Share capital	0	0
Capital reserve	90,763	78,037
Treasury shares	(35,576)	(29,998)
Share-based compensation reserve	15,450	10,624
Foreign exchange translation deficit	(5,225)	(10,812)
Hedging reserve	136	0
Retained earnings	42,407	75,337
Total equity	107,955	123,188
Non-current liabilities
Lease liability	3,582	3,819
Deferred consideration	34,929	0
Deferred tax liability	6,222	2,258
Contingent consideration	126	0
Borrowings	108,623	19,582
Derivative financial instrument	2,075	0
Other payables	1,120	0
Total non-current liabilities	156,677	25,659
Current liabilities
Trade and other payables	13,477	10,205
Deferred income	5,100	2,616
Deferred consideration	4,924	11,277
Borrowings and accrued interest	10,013	3,349
Lease liability	1,205	1,213
Income tax payable	320	1,076
Total current liabilities	35,039	29,736
Total liabilities	191,716	55,395
Total equity and liabilities	$ 299,671	$ 178,583