July 24, 2026

Record revenue growth and EBITDA improvement as investment in network expansion and customer excellence drives continued success

Hyperoptic, the award-winning alternative full fibre broadband provider, today announced its audited results for the year ended 31 December 2025. The company delivered record performance across revenue, customer numbers and profitability, while reaching its milestone of passing two million homes and businesses with full fibre connectivity during the first half of 2026.

The results reflect the strength of Hyperoptic’s long-term investment strategy and its differentiated, high density urban model. Having built the network at pace over the past decade as the first fibre altnet entrant in the UK broadband market, the business is ideally positioned to continue converting that infrastructure advantage into sustained growth and margin expansion. Hyperoptic has always kept customer growth at the centre of its model, and that approach is now reflected in its clear path to self-funded operations.

Key highlights for 2025:

• Revenue increased by 22% to £139 million, driven by subscriber and ARPU growth
• Customer base grew by 18% to over 440,000 subscribers, with average penetration of homes passed at 31%, and mature cohorts above 60% (and newbuild cohorts above 70%)
• ARPU grew by 1.8% to £27.63, powered by new premise-based pricing capabilities
• Adjusted EBITDA increased to £69 million, with ~90% incremental revenue-to-EBITDA conversion, reflecting disciplined cost control and sustained unit economics profitability
• Capital investment of £134 million in full fibre infrastructure, down 23% year-on-year as network build reaches completion and capital intensity reduces
• Off-net retail proposition announced in June 2025, extending commercial reach beyond Hyperoptic’s owned network
• AI enabled capabilities introduced across pricing, customer service, retention and upsell
• Surpassed 39,000 five-star Trustpilot reviews, achieving an overall rating of 4.6 stars, among the best in the sector

Dana Tobak CBE, CEO and co-founder, said: "Hyperoptic was the first altnet to launch in the UK in 2011, and we have spent more than fifteen years building one of the UK’s most extensive full fibre networks behind a clear and differentiated strategy. 2025 showed what that investment and strategic focus can deliver. We recorded strong growth across every key metric, our network has now passed two million homes, and our off-net retail proposition opens up an entirely new market.

As our business matures, we are increasingly focused on capitalising on our infrastructure advantage: increasing take-up, driving commercial growth through the off-net retail offer, and further enhancing the customer experience. The trajectory is clear, unit economics continue to strengthen, and the opportunity ahead remains significant."

H1 2026 trading update and FY2026 outlook

Hyperoptic has continued to build on its 2025 momentum in the first half of 2026:

• Network has now passed two million homes and businesses, reaching the company’s long-term target
• Continued strong revenue and customer growth, with high revenue-to-EBITDA conversion and sustained cost discipline
• Annualised EBITDA ~£90 million, and on track to exceed £110 million in FY26
• Off-net retail proposition due to go live in Q3 2026 with an additional 1.8 million homes passed
• Strengthened leadership in AI, with the appointment of a Chief AI and Technology Officer
• Awarded Which? Great Value Broadband Provider for the third time
• Continued community and employee engagement through The King’s Trust partnership, now in its fourth year, and support for SOS Children’s Villages via Hyperoptic’s Belgrade colleagues

Other operational and social highlights

Customer satisfaction remained consistently strong throughout 2025. Hyperoptic surpassed 39,000 five-star Trustpilot reviews and maintained an overall rating of 4.6 stars throughout the year, holding more five-star reviews than the big three broadband providers combined. In March 2025, the company was named Which? Great Value Provider and won the Uswitch Best Telecoms Innovation award.

In 2025, Hyperoptic reduced CO₂ emissions intensity per subscriber by approximately 28%, from 11.8 to 8.5 tonnes per 1,000 subscribers, and reduced its vehicle fleet by approximately 20%. The company continued to provide social tariffs and free broadband to community hubs across the UK, and expanded partnerships with councils, social housing providers and digital inclusion charities.

Strategic focus for H2 2026 and beyond

As the UK continues its transition to full fibre connectivity, Hyperoptic will focus on accelerating customer acquisition and increasing penetration across its existing footprint to grow market share, as more customers migrate to full fibre broadband.

The company will scale its off-net retail proposition and strengthen its new build channel, underpinned by relationships with nine of the UK’s top 10 residential developers, as well as its wider partnerships with landlords and local authorities, and continue to invest in AI driven efficiency and customer experience. The company will also continue to explore opportunities in underserved areas, supporting the UK’s broader connectivity ambitions. Combined with disciplined cost control and improving unit economics, this supports a clear path toward a self-funded, profitable business, while maintaining the award-winning customer service that has made Hyperoptic one of the UK’s most trusted broadband providers.

Dana Tobak added: “Our ambition is to double our customer base by 2030, and everything we’re doing in H2 2026, from scaling off-net retail to deepening penetration across our existing footprint, is building toward that.”