iFOREX Reports $2.5M Loss in H1 2026

iFOREX Financial Trading Holdings Ltd (LON:IFRX) has announced its unaudited interim results for the six months ended 30 June 2026, reporting a loss for the period of $2.5 million, compared with a profit of $1.2 million in H1 2025. The loss before tax was $2.4 million, against a profit of $1.7 million a year earlier. Of the total loss, $2.2 million was attributable to owners of the parent. Basic and diluted loss per share was $0.12, based on a weighted average of 18.1 million shares, compared with earnings of $0.02 per share in H1 2025.

Revenue for the period was $26.9 million, a 2% decrease from $27.6 million in H1 2025. Net gains realised on trading rose 1% to $21.5 million, while net gains on open positions fell 14% to $5.4 million, which the company attributed to a lower level of client open positions at the period end and reduced volatility in its core instruments. Revenue was 25% above H2 2025 ($21.5 million), driven by elevated client activity across the Group's core markets.

Adjusted EBITDA, which the Board uses as its principal measure of underlying performance, was $1.4 million, down from $5.4 million in H1 2025. On a constant currency basis, Adjusted EBITDA would have been $3.2 million. The company said the financial performance reflects previously announced FX headwinds, higher client liabilities at the period end, and non-recurring IPO costs.

Net cash used in operating activities was $2.1 million, compared with an inflow of $4.0 million in H1 2025, including a $3.5 million increase in trade and other receivables, principally balances held with liquidity providers and payment service providers. Net proceeds from the IPO were $10.45 million, after related expenses of $1.38 million. After an adverse exchange rate effect of $1.2 million, cash and cash equivalents net of overdrafts rose by $5.6 million to $11.8 million.

At 30 June 2026, the Group had cash and cash equivalents of $11.8 million, up from $6.2 million at 31 December 2025, and no borrowings other than lease liabilities of $1.5 million. Total equity increased to $18.0 million from $10.3 million at the end of 2025. Client funds held in segregated accounts, which are not included in the statement of financial position, were $9.7 million, compared with $10.3 million at 31 December 2025.

On Admission, the Company acquired the non-controlling interest in iFOREX Holding Ltd. through the issue of 4,629,000 shares with a fair value of $12.2 million. From that date, all of the Group's earnings are attributable to shareholders of the Company.

The final dividend for 2025 of $0.055 per share, totaling $1.2 million, was approved by shareholders on 18 June 2026 and paid on 24 July 2026. The Board has not declared an interim dividend for the six months ended 30 June 2026.