MPB Announces Full-year Results for FY25

MPB Group has announced its results for the financial year ended 31 March 2025.

• Group Net Revenue increased 19%, with international markets up 28% 

• Margin expansion across all geographies, reflecting strong execution and balanced investment

• Strong platform for growth, with Gross Merchandise Value to increase more than 50% by FY27

• Growth has accelerated further in FY26, with Group Net Revenue up 27% in the first half

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Matt Barker, Founder and CEO of MPB, said: “MPB continues to deliver strong growth, extending a track record of consistent execution that spans more than a decade. Our performance reflects the success of our international expansion, high levels of customer loyalty and the strength of our market-leading platform. Reaching profitability in FY25 marked an important milestone, as we continue to expand margins across geographies and further strengthen the foundations for growth.

“Momentum has accelerated in the current financial year, with net revenue up 27% in the six months to September 2025. Demand for high-quality, second-hand equipment continues to grow, supported by the rise of digital content creation and increasing global adoption of circular models. With an expanding international footprint and the benefit of sustained investment in our platform, data and AI capabilities, MPB is well positioned to deliver significant, profitable growth.

“I would like to thank my colleagues for their hard work and commitment. Our people remain central to our success as we scale the business and shape the future of this market.”

Market-leading platform delivering strong growth

The Group, spanning the US, Europe and the UK, delivered a strong performance in FY25 across all key metrics, reflecting the attractions of its market-leading platform, disciplined investment in its data and technology capabilities and accelerating international growth, including market share gains in the US and the successful opening of additional local-language platforms in Europe. 

Net Merchandise Value grew 17% and Net Revenue was up 19%, while margin expansion across all geographies ensured Gross Profit grew 24% to £45.3m (2024: £36.4m). MPB recorded an EBITDA of £0.8 million for the year (2024: £2.9 million loss), establishing a strong platform for continued and significant profitable growth. 

Consolidated Marketplace financial highlights:

International expansion the engine driving MPB’s growth

International Net Revenue grew 28%, with international markets now accounting for over 75% of Group revenue, reflecting the success of MPB’s overseas expansion strategy.  

MPB’s US business continued its strong performance, taking further market share, with Net Revenue up 26% to £26.6m and Gross Profit increasing 36% to £17.9m. The US accounted for 42% of Group Net Revenue at the end of March 2025, having expanded its Circular Commerce Centre in Brooklyn to provide capacity to support growth for the next five years.

European Net Revenue increased 31% year-on-year, following the ambitious roll-out of four additional local market platforms. MPB now serves customers via local language platforms in Germany, France, the Netherlands, Austria, Belgium, Ireland and Italy. Gross Profit increased 36% to £15.5m. 

Customer base doubles in three years, with strong satisfaction and loyalty

MPB hit the milestone of one million unique customers globally in FY25, doubling its unique customer count over three years. 384,000 people transacted with the Group during the period. 

MPB recirculated more than 564,000 items of used kit in the year, extending the life and creative potential of photo and video equipment for creators. This approach reduces the need for new production and supports more sustainable consumption, while delivering affordability and choice for customers. 

Customer satisfaction remains central to MPB’s success and customer feedback continues to demonstrate high satisfaction across all markets. This is reflected in MPB’s Global NPS remaining at 74, an excellent score for a consumer business. 

Continued technology investment to cement market-leading position

MPB is continuing to invest in its proprietary recommerce technology, data and AI capabilities, driving accelerated revenue growth and margin expansion. The Group has a strong financial position from which to continue to invest, supported by an expansion of HSBC’s credit facilities during the year.

Group headcount increased from 455 to nearly 500 during FY25 as the Group has continued to invest in the wealth of people-talent surrounding its headquarters in Brighton, where MPB is one of the largest employers in the area, Berlin and Brooklyn.

Successfully capturing a global growth opportunity, with GMV to exceed £300m by FY27

Demand for high-quality second-hand equipment continues to grow, with customers looking for affordability and choice. The ongoing rise of content creation is adding further momentum, reinforced by global support for circular business models. Against this backdrop, MPB is well placed to deliver significant, profitable growth, offering a seamless, high-quality experience for its customers.

Looking ahead, the Group will expand into new markets, deepen customer engagement and scale efficiently. MPB is introducing new customer loyalty tools, enhancing personalisation and evolving its data-driven pricing model, while continuing to strengthen its presence in the US and attractive European markets. An engaged international workforce is central to MPB’s success and the Group is investing in its people, with a particular focus on AI and digital transformation.

MPB remains highly confident in its strategy and its ability to capture the opportunities ahead. Gross Merchandise Value is on track comfortably to exceed £300m by FY27, illustrating the Group’s growth potential.

Read FY25 Strategic Report (PDF, 2.8MB)