2026-01-09 18:19:42
A Year of Reset, Focus and Forward Momentum
2025 was a defining year for 00Nation. Rather than pursuing growth at any cost, the
Company deliberately focused on completing a foundational reset: simplifying the Group
structure, reducing fixed costs, strengthening governance, and positioning the business for
scalable and sustainable growth.
During the year, the Group completed a significant transition phase, including the relocation
of full operational activity to the United Kingdom, the establishment of a strengthened
operating model, a clear separation between B2B and B2C activities, and a full reset of the
fixed cost base. This work has created a more focused, disciplined and scalable platform
as we enter 2026.
With these changes largely complete, we believe 00Nation is well positioned to win in 2026,
with a clear and credible path toward profitability around mid-year, subject to execution
and market conditions.
Relocation of Operations and Cost Base Reset:
A core strategic decision during 2025 was to consolidate the Groups operations in the UK,
where the majority of commercial activity, partners, talent and execution capability are
based.
At the same time, operations in Norway were intentionally scaled down.
Fixed costs associated with offices, staffing and local operations in Norway have now been reduced to
almost zero. 00Nation AS remains the listed parent company, but no longer carries a legacy
operational cost base in Norway.
This transition has materially improved cash efficiency, reduced complexity, and aligned the
cost structure with revenue-generating activity.
A Leaner Organisation and Clearer Structure:
Alongside the geographic relocation, the Group restructured its operating model.
The organisation now operates with a small, experienced core team supported by specialist
contractors, partners and advisors. This model provides flexibility, access to world-class
capability, and the ability to scale activity without rebuilding fixed costs.
Equally important, the Group completed a clearer structural separation between B2B and
B2C activities, improving commercial focus, accountability and visibility across the
business.
Operational Progress and Momentum:
00Nation Culture, Content and Clothing
00Nation continues to build its position as a culture-led media and commerce platform
operating at the intersection of sport, content and community.
Content output, audience growth and engagement remain strong across key platforms,
providing a solid foundation for monetisation through advertising, partnerships and owned
products.
Key developments include:
Continued growth across social media
Progress towards diversified revenue streams, including advertising, brand
partnerships, 00 Product ranges and formats
partnerships, own product lines and formats.
Expansion of content formats and live concepts designed to support long-term IP
development.
Ongoing development of the 00Nation clothing range, with product quality testing
completed to leading industry benchmarks and all products designed, sampled and
production-ready.
Packaging, brand guidelines and digital infrastructure, including website and global
fulfilment, are progressing in parallel to support a coordinated global launch.
During the prolonged pilot and testing phase, continued growth across the internet
with consistently high engagement levels, and across global audiences
Creative and Commercial Services:
Our B2B business has delivered steady operational performance throughout 2025 and has
been profitable since September 2025.
The business benefits from a diversified client base, a lean cost structure, and a growing
reputation as a culture-focused execution partner for global brands.
Recent highlights include:
Delivery of multiple high-profile brand activations.
A growing base of retainers and project work, supporting more predictable
revenues.
Progress in formalising our operating model to support growth in 2026 while
maintaining margin discipline.
Increasing interest from both talent and brand partners, strengthening future deal
flow.
Our profitability and cash contribution represent an important stabilising element within the
Group.
Brand Redesign and Positioning:
During 2025, the Group completed a comprehensive redesign of the 00Nation brand.
This work clarified positioning, strengthened coherence between B2B and B2C activities,
and aligned the brand with its culture-led, international ambitions. The redesigned brand
platform is now being deployed across content, partnerships and product, forming a
consistent foundation for future growth.
Strategic Partnerships and Market Positioning:
The Group has made meaningful progress in discussions with several global partners
across media monetisation, travel, sport and culture.
These relationships are expected to enhance access to commercial opportunities,
distribution and international scale, while reinforcing the Groups credibility with global
brands and partners.
Financial Discipline and Outlook:
The Group continues to operate with a strong focus on financial discipline:
Monthly fixed costs have been materially reduced and stabilised.
Our B2B business is profitable and contributing positively to cash flow.
00Nation is approaching operational breakeven, with improving revenue visibility.
Cash management and cost control remain key priorities as the business transitions
into a growth phase.
Detailed financial statements and projections are being prepared in line with audit and
governance processes.
Governance, Reporting and 2024 Accounts:
The submission of the 2024 annual accounts was later than initially anticipated. This was
driven by the scale of structural changes undertaken during the year and the need to
address historical accounting missteps fully. These matters have now been resolved. The
work completed during this process has strengthened accounting processes and improved
controls. As a result, 2025 accounting and reporting are in good shape.
Losses in 2024 were lower than in 2023 and were in line with investor expectations,
planning and the Companys funding strategy.
Looking Ahead to 2026:
With the foundational rebuild largely complete, the Group enters 2026 with:
A clearer strategic focus,
A materially lower and more flexible cost base,
Improved financial discipline and governance,
Strengthened partnerships and execution capability,
And multiple growth initiatives are progressing in parallel.
Indicative 2026 Revenue Mix (Directional Guidance):
The chart below illustrates managements current indicative view of the Groups 2026
revenue composition, based on contracted revenues, high-confidence pipelines and proven
operating models. Figures are provided for illustrative purposes only and reflect directional
planning assumptions rather than formal financial guidance.
Talent Management: ~£0.8m
Creative Services: ~£1.5m
Brand Partnerships: ~£2m
B2C (Media, Partnerships & Commerce): ~£2m
As the Group enters 2026, managements focus moves decisively from transition to value
creation. On the B2B side, the priority is to fully validate our B2B business as a scalable
media and entertainment business built on culture, talent and recurring commercial
relationships. This includes continuing to attract high-quality brands and talent,
strengthening recurring revenues and building defensible IP and contracts.
On the B2C side, the focus is on scaling owned, culturally relevant products and platforms
in a disciplined and capital-efficient manner. During 2026, the objective is to establish
profitability, stability and repeatable growth across media, community and commerce,
before accelerating scale in subsequent years. Over time, this approach is intended to
create durable consumer IP, predictable cash flows and increasing optionality for
shareholders.
Management views a 57 year horizon as the normal timeframe for meaningful
breakthrough and value crystallisation in global media and entertainment businesses and
believes the foundations now in place are aligned with that trajectory.
Taken together, these initiatives mark the conclusion of the Companys transition from a
Norwegian esports-led organisation into a global media, entertainment and culture-driven
business. With the cost base reset, governance strengthened and core platforms validated,
management believes the Group is positioned to build long-term shareholder value through
sustained growth, asset creation and improving profitability.
For further information, please contact
David Williams Head of Business Affairs
dw@00nation.com
Tlf. +44 77950 63636