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Hyperoptic delivers record performance, reaches two million UK homes
UK altnet claims record revenue growth and EBITDA improvement for 2025 and first half of 2026, with investment in network expansion said to drive continued business
In a landmark for both the alternative full-fibre broadband provider itself and the sector of the broadband market, Hyperoptic has revealed that across the 2025 fiscal year, it has delivered record performance across revenue, customer numbers and profitability, while reaching its milestone of passing two million homes and businesses with full-fibre connectivity during the first half of 2026.
Founded in 2011 to shake up the broadband market, Hyperoptic delivers hyper full-fibre to homes and businesses in the UK, and claims to have been the first to make gigabit speeds available to UK residents. Hyperoptic has been growing rapidly over the past four years, and in July 2022, announced it had hit a milestone by connecting more than 100,000 new-build homes to its full-fibre network.
The company works with property owners, developers and partners, designing and installing dedicated fibre infrastructure to new buildings and existing developments. It focuses exclusively on high-density urban areas, and covers 64 towns and cities in the UK.
In the results for the fiscal year of 2025, the company posted revenue up 22% to £139m, said to be driven by subscriber and ARPU growth. The company’s customer base rose by 18% to over 440,000 subscribers, with average penetration of 31% and mature cohorts above 60%. ARPU inched up 1.8% to £27.63.
Adjusted EBITDA was up to £69m, with around 90% incremental revenue-to-EBITDA conversion, and the company is targeting annualised EBITDA of £110m for FY26. The company’s capital investment in 2025 totalled £134m, down 23% year-on-year as capital intensity reduces.
For the first half of 2026, Hyperoptic continued to build on the 2025 momentum, and by passing two million homes and businesses with its network, it has now reached the company’s long-term target. Annualised EBITDA was in the region of £90m, and on track to exceed £110m in FY26.
Going forward, Hyperoptic said that as the UK continues its transition to full-fibre connectivity, it will focus on accelerating customer acquisition and increasing penetration across its existing footprint to grow market share, as more customers migrate to full-fibre broadband.
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To propel growth further, an off-net retail proposition – launching in Q3 2026 – is designed to extend its reach to an additional 1.8 million homes, and is targeting a doubling of the customer base by 2030.
Assessing the year and a half, Hyperoptic claimed that the results reflect the strength of long-term investment strategy and its differentiated, high-density urban model. It added that having built the network at pace over the past decade as the first fibre altnet entrant in the UK broadband market, the business was “ideally positioned to continue converting that infrastructure advantage into sustained growth and margin expansion”.
Company CEO and co-founder Dana Tobak said: “Hyperoptic was the first altnet to launch in the UK in 2011, and we have spent more than 15 years building one of the UK’s most extensive full-fibre networks behind a clear and differentiated strategy. 2025 showed what that investment and strategic focus can deliver.
“As our business matures, we are increasingly focused on capitalising on our infrastructure advantage: increasing take-up, driving commercial growth through the off-net retail offer, and further enhancing the customer experience. The trajectory is clear, unit economics continue to strengthen, and the opportunity ahead remains significant.”
