GB Group has reported a loss before tax of £74.5m in the year to 31 March, following a non-cash impairment charge of £73.1m.

The global identity and location technology firm also recorded an operating loss of £68.1m in this period. This comes as part of an impairment charge of £73.1m against goodwill, reflecting accounting assumptions that underperformed.

It also decided to retire its compliance platform solution, which wrote down the value of assets associated to nil, resulting in a non-cash exceptional charge of £16.5m.

Across the period, the group’s revenue increased by 3.2% on a constant currency basis to £285m, while its adjusted diluted earnings per share jumped by 9.3% to 19 pence.

Its Americas Identity division also returned to growth in Q4, with improved sales execution, “stronger customer commitments and accelerating momentum” into the current financial year.

Furthermore, GB Group said it transitioned to a “scalable global operating model” in this period, and launched new and expanded relationships in the year, with brands including Equifax, Uber, FedEx and Temu.

CEO at GB Group, Deb Dhiman, stated: "FY26 has been a year of considerable progress. We have delivered on the strategic initiatives that have the largest impact on our topline momentum, including returning Americas Identity to growth and generating strong demand for GBG Go - our global identity platform.

"Our simplified operating model is driving efficiency and platform scalability. The foundations we have built, a scalable, global platform, and a high-performance culture, are now translating into tangible results with growth accelerating."

In its outlook, the group said it had entered the new financial year in a "position of strength" after two years of operational transformation.

It added that its markets are moving positively, with structural tailwinds "expanding the addressable market opportunity", particularly in its identity fraud prevention capabilities.

However, its operating profit margins are set to reduce marginally on an adjusted basis in the current year to between 21% and 22%, before returning to its target range of between 23% and 24% in the 2028 financial year.

Following this announcement, shares in GB Group dropped by almost 13%.

Dhiman concluded: "We enter FY27 from a position of strength, APAC and EMEA Identity and Location performed well as Americas Identity generated Q4 growth. Combined with the structural tailwinds expanding our markets, such as the acceleration of AI-driven fraud, we have a compelling opportunity ahead. We are confident we will accelerate growth and deliver sustained long-term shareholder value."

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