Yoti has seen a surge in revenue as the identity verification business was boosted by fresh rules introduced under the Online Safety Act.
The London-based business posted a 55 per cent rise in turnover to £20.3m for the year to end March, according to accounts filed with Companies House.
“Regulatory issues are central to the business and Yoti is expecting to benefit from significant regulatory changes, in both identity and age, both in domestic and overseas markets,” the firm said.
“Anticipated regulatory changes in the United Kingdom, France and Australia, in particular, are expected to support the company’s growth.
“Rapid development in the sophistication of both online fraud, deep fakes and the technology to prevent this, means that the market is constantly developing and growing.”
Porn ID laws boost company growth
The Online Safety Act, which was passed in October 2023, introduced age verification requirements for access to adult content in online services, such as porn sites and dating apps.
Media regulator Ofcom set a deadline of 25 July 2025 for the implementation of age verification systems.
Leadenhall Street-based Yoti, which was founded in 2015, offers a host of identity verification, age verification and facial age estimation services, and has partnered with a host of porn companies including Spankbang, Sexlikereal and Live-Strip.
The company, which continues to be loss-making, said it completed its first month of EBITDA profitability in March. The firm posted a pre-tax loss of £12.4m for the year, a drop of 58 per cent on the previous year.
But Yoti has racked up a debt pile of more than £100m, of which shareholder loans totalled £87m. The firm also has a £12.5m debt facility with HSBC which it warned “will need to be refinanced” in December 2026.
“The directors believe they will be able to successfully refinance on acceptable terms given the progress of the business,” Yoti said.