Key insights
6 slides
Key number
Revenue rose 26% to £59.6 million in H1 FY26.
Adjusted operating profit rose 76% to £9.7 million. The growth was driven primarily by the launch of Jurassic World Evolution 3.
What changed
Jurassic World Evolution 3 contributed 90% of total H1 revenue.
Planet Zoo became the Group’s highest-grossing individual game.
Cash position
Cash balance increased to £40.1 million after a £10 million buy-back.
Cash reserves grew 47% year-on-year to £40.1 million. The group executed a £10 million share buy-back that raised earnings per share to 21.4p.
Margin shift
Gross margin fell to 64% from 70% due to royalty-bearing IP.
The decline reflects a higher proportion of revenue generated from royalty-bearing intellectual property.
Guidance upgrade
Board upgraded FY26 guidance to approximately £100 million revenue.
The Board now targets revenue of approximately £100 million and adjusted operating profit of around £11 million. This is supported by strong seasonal sales momentum.
Leadership change
Jo Cooke succeeded Jonny Watts as CEO on 1 January 2026.
CEO Jonny Watts stepped down on 1 January 2026 and was succeeded by Jo Cooke. Watts remains as an Executive Director until 31 May 2026 to ensure a smooth transition.
Page 2 of the report- 011 January 2026Jonny Watts steps down as CEO; Jo Cooke succeeds him.
- 02Until 31 May 2026Watts remains as Executive Director to ensure a smooth transition.
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Summary
Frontier Developments plc reported unaudited interim results for the six months to 30 November 2025, showing a 26 % increase in revenue to £59.6 million and a 76 % rise in adjusted operating profit to £9.7 million compared with the same period in 2024. The growth was driven primarily by the launch of Jurassic World Evolution 3, which contributed 90 % of total revenue in H1 FY26 and earned nominations at the Game Awards 2025 and BAFTA Games Awards 2026. Other titles such as Planet Zoo, Planet Coaster 2 and Elite Dangerous also performed strongly, with Planet Zoo becoming the Group’s highest‑grossing individual game.
Cash profitability improved markedly; adjusted operating profit, which excludes non‑cash development capitalisation and includes tax and R&D credits, grew to £9.7 million from £5.5 million year‑on‑year. IFRS operating profit rose 73 % to £7.8 million. Gross margin fell to 64 % from 70 %, reflecting higher royalty‑bearing IP revenue. The Group’s cash balance increased to £40.1 million, up 47 % from the prior year, after a £10 million share buy‑back that raised earnings per share to 21.4 p.
The Board upgraded FY26 guidance, now targeting revenue of approximately £100 million and adjusted operating profit of around £11 million, citing strong seasonal sales momentum. CEO Jonny Watts stepped down on 1 January 2026, succeeded by Jo Cooke, with Watts remaining as Executive Director until 31 May 2026 to ensure a smooth transition. The Group remains debt‑free, with no significant liabilities beyond lease obligations, and maintains a robust pipeline of CMS titles slated for release in FY27–FY28.
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