YouGov swaps its dividend for a buyback as adjusted profit falls 11%
The London-listed research group is building its panel data into clients’ AI systems, cutting costs and reviewing its Shopper division as co-founder Stephan Shakespeare prepares to hand over to a new chief executive
- Adjusted operating profit guidance for the year to July 2027: £58m–£61m, growth of 7–12%
- Revenue for the year to July 2027 already contractually secured: 49% of expectations
- Data Products adjusted operating margin: 34%, up from 31%
- Shopper adjusted operating profit: £18.2m, down from £27.2m, reflecting panel investment
The results show YouGov treating its panel as a data supply that other companies’ software and AI tools draw on directly, which puts it up against data providers as well as research agencies. For buyers of research, that points to opinion data bought by subscription and queried inside their own systems, alongside commissioned projects. Keeping the co-founder on the board to chair innovation, while an incoming chief executive with a background in transformation and operations inherits the Shopper review, splits product direction from running the business.
“The broader macroeconomic focus on investment in AI infrastructure capable of delivering higher productivity underpins the growing importance of trusted data in an AI-driven world within the market research industry.”Stephan Shakespeare, chief executive, YouGov
YouGov said on 13 October that adjusted operating profit fell 11% to £54.3m in the year to 31 July 2026, while revenue rose 2% to £396.6m. The adjusted margin narrowed to 14% from 16%, and statutory operating profit fell 32% to £21.2m after non-cash impairment charges on goodwill and intangible assets.
Adjusted operating profit in the second half was 26% higher than in the first. The board said it sees a disconnect between the share price and the company’s intrinsic value, and it has replaced the dividend for the year with a share buyback of up to £15m, which began on the day of the results.
Stephan Shakespeare, the co-founder who returned as chief executive on an interim basis in February 2025, has shifted the group toward placing its data inside clients’ own workflows, platforms and AI systems. YouGov Voices, an AI interviewing tool launched in February 2026 as an add-on to BrandIndex, helped win a $2m (£1.5m) contract with a major professional services company. In the second half the group added Model Context Protocol support across its products, so AI applications and agents can query its data in natural language. It has also released a public prototype of YouGov Parallax, which pairs digital twins with validation from real people.
The first two waves of a three-wave Value Delivery Plan cut costs and simplify the organization; the third is meant to open new revenue streams from AI products and data sold as a product. A strategic review of Shopper, a division YouGov acquired from GfK, began in March and is ongoing. Ian Griffiths, the chair, said the strategic rationale for the acquisition remains unchanged.
Wayne Levings, whose appointment was announced in August, joins on 1 November as chief executive-elect and takes over no later than February 2027. Shakespeare will then move to a non-executive role on the board, chairing a newly formed Innovation Committee.
Sources
- YouGov, “Results for the year ended 31 July 2026”, RNS announcement, 13 October 2026. https://www.investegate.co.uk/announcement/rns/yougov--you/results-for-the-year-ended-31-july-2026-/9819161
- YouGov, “Our history”, company timeline, corporate.yougov.com. https://corporate.yougov.com/about/timeline/
