Grain has announced that profitability has continued to improve with the independent network provider delivering 10% EBITDA margin across the year ended March 2026.
Grain secured further funding in the Summer of 2025 and even after this significant investment to scale the operation for delivery of the footprint expansion in the second half of the year, EBITDA margins still grew to over 16% during Q4, with Gross margin also expanding from 67% to 77% for the full year.
Full Fibre broadband available in more homes and businesses
Homes ready for service grew by 19% during the financial year to cover over 300,000 premises across the UK, with the rate of expansion expected to accelerate even further in the coming year.
Customer numbers also increased by 31% to 56,000, with penetration growing to 19%, up from 17% last year. Excluding new sites which went live during the year, penetration on the existing footprint grew from 17% to 21%.
Grain is fully funded and plans to continue investing significant capital into expansion of its footprint, thanks to the strong financial returns being generated.
Affordable Full Fibre broadband with transparent pricing
Grain CEO Richard Cameron stated: “The Altnet market has experienced significant challenges this year, with many providers struggling to deliver an efficient platform to compete in the market.
“We are proud to be doing something different and unique amongst altnets; building our own fully owned end-to-end network, giving us an efficient asset that delivers long-term profitability and cash generation.
“Others are undoubtedly being hit by the high operating and connection costs driven by the decision to build PIA based networks.
“I am pleased to say that these are problems which Grain doesn’t face, putting us in a strong position to compete over the long term.
“We’re excited about the future of Grain and the competition and choice it offers, allowing more customers to make the move to Full Fibre broadband, with affordable and transparent pricing.”