RentGuarantor revenue jumps 250% as FY2026 outlook moves above expectations

A sharp acceleration in first-half trading

RentGuarantor Holdings has reported a substantial improvement in trading for the six months ended 30 June 2026, with revenue, applications and completed contracts all rising strongly.

The AIM-listed rent guarantee provider generated unaudited revenue of £3.39 million, up 250% from £0.97 million in the same period last year. It also moved into profitability on an adjusted basis.

The update matters because the company is no longer talking only about growing demand. It is starting to show that higher customer volumes can translate into positive earnings, while management now expects full-year revenue and adjusted profit before tax to be materially above market expectations.

That is a meaningful upgrade, although investors should keep the unaudited and adjusted nature of the figures in mind.

RentGuarantor's key first-half figures

Metric	H1 2026	H1 2025	Year-on-year change
Revenue	£3.39 million	£0.97 million	250%
Applications	8,936	4,255	110%
Completed contracts	3,703	1,326	179%
Average contract value	£1,001	£731	37%
Adjusted EBITDA	£110,000	£124,000 loss	Not disclosed
Adjusted net profit or loss	£250,000 profit	£367,000 loss	Not disclosed
Period-end cash	£2.4 million	£0.73 million	Not disclosed

Adjusted EBITDA means earnings before interest, tax, depreciation and amortisation, with specified exceptional costs removed. It is commonly used to examine underlying operating performance, but it is not the same as statutory profit or cash flow.

Applications, for which applicants pay £20, more than doubled to 8,936. Completed contracts rose even faster, increasing by 179% to 3,703.

The average contract value also climbed by 37% to £1,001. That combination of more contracts and a higher average value explains why revenue grew considerably faster than application volumes.

Profitability is the standout development

RentGuarantor recorded adjusted EBITDA of approximately £110,000, compared with a £124,000 loss in H1 2025.

Adjusted net profit was approximately £250,000, reversing the previous year's £367,000 loss. The company said increasing operational leverage contributed to the improvement. In plain English, revenue grew faster than the operating cost base, allowing a greater proportion of sales to reach profit.

There are some important qualifications. The H1 2026 figures exclude one-off share placing expenses, while the comparative figures exclude costs associated with RentGuarantor's admission to AIM.

The adjusted net profit also includes the effect of repaying all outstanding Convertible Loan Notes and releasing the associated derivative revaluation. This is an accounting benefit linked to the financing arrangements, rather than purely a reflection of day-to-day trading.

The move to positive adjusted EBITDA is therefore particularly useful, as it offers a clearer indication that the core operation is improving. Investors will still need the forthcoming half-year results to assess statutory profit, cash flow and the full cost base.

Why customer adoption appears to be accelerating

Management attributes the growth to greater adoption of its professional guarantor service across the UK private rental sector, currently excluding Northern Ireland.

RentGuarantor provides an online rent guarantee service for tenants, with applications handled through its own digital platform. Its offering also includes property protection.

The company believes demand is being supported by the implementation of the Renters' Rights Act, alongside an expanding network of relationships with letting agencies, councils and industry bodies.

June was highlighted as an especially strong month. Revenue increased by 618% compared with June 2025, while the company said daily applications increased by 341% to 2,754 in June 2026 from 809 in June 2025. This followed 274% growth in May against the corresponding prior-year month.

Trading momentum continued into July, giving the board greater confidence that the first-half performance can be sustained through the rest of FY2026.

A stronger balance sheet supports the next growth phase

RentGuarantor repaid its Directors' Loan and all remaining Convertible Loan Notes by early June 2026. Removing these historic obligations simplifies the capital structure and should allow management to focus more directly on growth.

Cash stood at approximately £2.4 million on 30 June 2026, compared with £0.73 million one year earlier.

However, the increase should not be attributed entirely to trading. RentGuarantor completed a £1.0 million equity placing in June, with operational cash generation also contributing to the stronger position.

The additional funding provides room to invest in the business, including the RGG Tech Lab in Bristol. This initiative is intended to develop artificial intelligence and automation capabilities that can help the company process higher customer volumes efficiently in FY2027 and beyond.

For shareholders, the positive point is that management now has more financial flexibility. The counterpoint is that the June placing issued equity, so investors should consider dilution alongside the improved cash balance.

Full-year expectations have been upgraded

The board expects second-half trading to strengthen further. It pointed to faster pipeline conversion, expansion of the sales funnel, growing commercial partnerships and the third quarter's historical importance to the business.

Most significantly, management expects FY2026 revenue to be materially above market expectations. The company stated that forecasts immediately before the announcement ranged from approximately £5.9 million to £6.0 million.

Adjusted profit before tax is also expected to be materially ahead of the previous market range of approximately £0.2 million to £0.7 million, provided expenses remain in line with budget.

No new numerical revenue or profit guidance was disclosed, so the scale of the anticipated outperformance remains unclear. The wording is nevertheless stronger than a simple statement that trading is in line.

What investors should watch next

There is plenty for shareholders to welcome: rapid revenue growth, improved contract volumes, a higher average contract value, positive adjusted EBITDA, reduced financing obligations and upgraded expectations.

The central investment question is whether this momentum is sustainable. RentGuarantor is benefiting from strong customer adoption and regulatory change, but rapid expansion also creates execution demands. Its technology investment will need to support growth without allowing costs to rise faster than revenue.

Profit quality deserves attention as well. The reported net profit is adjusted, excludes placing expenses and includes the release connected with the Convertible Loan Notes. The forthcoming half-year results should provide a fuller picture of statutory earnings and cash generation.

For now, the direction of travel is clearly positive. RentGuarantor has progressed from first-half losses to positive adjusted operating earnings, strengthened its balance sheet and raised its expectations for FY2026. The next test is converting a strong first half into durable, cash-generative profitability.