Tap Global Shares Tumble as CFO to Step Down

Tap Global (LON: TAP) shares fell 14.9 percent on Friday after the digital finance firm reported full-year results and confirmed the impending departure of its chief financial officer.

The company said CFO Steven Borg will step down from the Board with effect from Jan. 9, 2026. The Board thanked him for his contribution, “particularly during the period surrounding the Group’s admission to AIM,” and said it wished him well in his next role.

Tap appointed Andrew Milmine as head of finance, noting his senior experience across gaming and fintech.

The update accompanied results for the year ended June 30, 2025, which Tap described as a “defining period of graduation.”

Revenue rose 31 percent to £3.48 million, driven by higher trading volumes and user growth, while gross profit increased 68 percent to £2.62 million. Operating expenses fell 6.6 percent to £3.8 million following cost controls and restructuring.

The company also recognised £0.42 million in other income from the recovery of historic Bitcoin referral bonuses, helping adjusted EBITDA turn positive at £0.41 million once one-off AIM listing and regulatory expenses were stripped out.

After statutory charges, including a £4.7 million goodwill impairment, Tap reported a pre-tax loss of £5.7 million, narrowing sharply from £18.2 million the prior year.

CEO Arsen Torosian said Tap had “evolved from a challenger fintech acquiring its first wave of users into a fully regulated digital finance platform,” adding that the group is now “positioned to monetise the infrastructure we have built” as it focuses on scaling its B2B offering.