Revenue declined in all but the Comparison segment.
Team Internet (AIM: TIG, OTCQX: TIGXF) released a financial update covering the first half of the year. The report shows a marked drop in group revenue overall, driven primarily by declines in the company’s Search business and, to a lesser extent, its Domains, Identity & Software division. Only the Comparison segment posted growth in the period.
Group revenue for H1 fell 32% versus the first half of 2025. Management and investors will likely view that as a significant contraction given the size of the decline and the speed at which it occurred. The fall was concentrated in a single area: the Search segment.
The Search business recorded a 63% decline in revenue, sliding from $132 million in the comparable period to $48 million in the first half of the current year. That steep reduction follows Google’s decision to discontinue Adsense for Domains, an event the company had already flagged as a key headwind. The termination of that program removed a large and previously reliable source of traffic monetization for search arbitrage activities, directly impacting Team Internet’s Search revenues.
In contrast, the Comparison segment—an area the company has emphasized as a strategic focus—saw modest growth. As the market for search arbitrage contracted, management reallocated resources and attention toward comparison services. These sites typically provide product or service comparisons and generate revenue through referral fees, lead generation, or affiliate arrangements. The uptick in this division suggests the shift in strategy is beginning to yield results, though it has not offset the overall revenue decline.
Revenue from the Domains, Identity & Software unit declined 6% year over year, although it did improve relative to the second half of 2025. That is the division the company has been marketing for sale. It includes domain registrar operations and a backend registry business, both of which contribute recurring revenue streams but operate in a competitive, commoditized space. The small year-on-year decline signals some resilience, but it also raises questions about valuation and buyer appetite in the current environment.
One notable element of the update concerns the timing of the potential sale of the Domains, Identity & Software business. About a month ago, Team Internet said it expected “an outcome” in the first half of Q3, which would imply a decision by mid-August. The newest update tones that guidance down: the company now states it expects to close any transaction this year but does not reiterate the earlier mid-Q3 target for reaching a decision. That change in wording suggests the deal process may be taking longer than originally anticipated, although management still expects a resolution before year-end.
Investors watching the process will want clarity on several points: whether a binding agreement is in negotiation, the likely timing for completion, and the expected proceeds and how they would be used. Proceeds could be deployed for debt reduction, reinvestment in the Comparison segment, or returned to shareholders, but the company has not provided specific allocation guidance in this update.
Operationally, the update implies a company in transition. The loss of Adsense for Domains has accelerated the need to shift away from search arbitrage and toward higher-margin, sustainable products. The modest growth in Comparison indicates management’s strategy is beginning to take hold, but the decline in the Search unit is large enough that it will take time for gains elsewhere to restore the company’s top-line momentum.
For stakeholders, the immediate focus will be on execution and communication. Clear disclosure about the status and expected timing of the Domains, Identity & Software sale, progress in scaling the Comparison segment, and any additional cost or restructuring measures to offset Search revenue losses will be important in the coming months. Until those items are clarified, revenue visibility will remain constrained and market reactions are likely to reflect ongoing uncertainty.
In summary, Team Internet’s H1 update shows a sharp overall revenue decline driven mainly by the closure of a critical advertising channel, a small but encouraging increase in its Comparison business, and a modest contraction in the unit it plans to divest. Management’s expectation to close a transaction for the Domains, Identity & Software business this year is a positive sign, but the lack of the earlier mid-Q3 wording suggests the timeline is less certain than previously indicated.