LightSpeed Broadband Sees Revenues Double as UK Customers Top 22,000
Alternative network provider and UK ISP LightSpeed Broadband, which has built their full fibre (FTTP) network to cover 360,000 premises across the East of England and Midlands (36 towns), has reported their latest annual accounts to the end of December 2025 – revealing that they have 22,000 customers (May 2026) and revenues almost doubled to £4.21m (2024: £2.24m).
The network provider, which in 2023 was acquired by Kompass Kapital (here) after suffering some job cuts and a build slowdown in the East of England (here), is currently busy deploying across parts of various market towns in South Lincolnshire, Norfolk, Suffolk, Essex, Staffordshire, Cheshire, Cambridgeshire, and Rutland.
According to the accounts, Lightspeed Broadband reported incurring a loss after tax of -£15.68m for the year ended 31st December 2025 (2024: increased from -£8m) and they had net liabilities of -£43.01m (2024: -£27.32m). Despite this, “the directors considered the results at the year-end to be satisfactory and intend to pursue strategies that would enhance growth of the company and result in improved performance“.
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The results also reveal that, during the year, the company’s parent raised £50.2m from an entity affiliated to its shareholders to support the network build and operations. The total loans to the group by its shareholders for the network build costs and operations now amount to £61.2m, with a further £220.2m from an entity affiliated to its shareholders (i.e. the Kompass Kapital entities).
The average number of persons (inc. directors) employed by the company during the year was 64 (2024: 27).
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
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Good, I hope they keep on going and get more customers.
What’s good about making a loss that’s four times greater than their revenue? What investor will put up with that?
It is good that they are getting more customers and you know full well what I meant.
Wow that’s barely above 5% take-up. Completely abysmal. All that overbuild seems to have backfired
So on average each of the 22,000 customers is generating less than £16 of revenue each month. How can a company survive on that? Their take up is low, even by AltNet standards.
Currently with LightSpeed – they’ve been good up to the point OpenReach also started supplying our area. Will likely switch out to Vodafone at the end of the contract, as I was previously with them, and also get a bit of a discount as I’ve got my mobile contract with them.
Shocking. They must sell soon.
Moved to LightSpeed from VM a few months ago, with about £250 of VM contract left “bought out” by LightSpeed.
Didn’t have any real issues with VM despite the slating they get here, think one 12 hour outage and one hub failure sorted next day in the last three years.
Still only on FTTC here with Openreach so anything quicker was VM only, until LightSpeed rolled out.
Initial order, after their flyer came through the door, got cancelled about two weeks after as they “weren’t ready in our area yet”
Another six weeks or so went by and I ordered again and all went smoothly, installed within two-three weeks including civils in street, dig across garden for new conduit and then actual engineer install, who was happy to route fibre into the loft space.
No problems since going live with them, getting very close to the 1Gbps symmetrical speed I pay for.