Wildanet has written another £17m off the value of its network
Wildanet has knocked another £17.1m off the value of its own fibre network. The Cornwall and Devon altnet has filed its accounts for 2025, and as reported by ISPreview, they show revenue up 43% to £2.51m and that write-down landing on top of a £55.6m one the year before. Roughly £72.7m of value gone in two years, on the same reading of the filing.
A write-down is not money walking out of the door. It is a company conceding that the thing it built will not earn what it once assumed, and the reasons ISPreview reports from the accounts are the ones the whole sector has been giving: pressure on what it can charge, the cost of building and running a network, and less certainty about future revenue. Wildanet also pulled out of two of the government’s Project Gigabit contracts in Cornwall at the start of this year, which the accounts name as part of it.
What it means if you are a Wildanet customer
Nothing about your line changes because of a set of accounts. The same filing carries better news than the headline number suggests. Revenue grew. The loss after tax narrowed to £30.2m from £74.3m. Adjusted earnings moved into positive territory, the company says it expects customer numbers to keep growing through 2026, and ISPreview notes it is backed by £100m from Gresham House and £35m from the National Wealth Fund.
The real uncertainty sits in the build rather than the service. Wildanet’s own warning in the accounts, as quoted by ISPreview, is that its main short to medium term risk is building network capacity quickly and safely enough to hit the customer growth it is counting on. Headcount fell over the year from 212 to 179. Its remaining Project Gigabit contract for Cornwall and the Isles of Scilly is reported as 30% complete.
What to do about it
If you are already connected, nothing. If you are waiting for Wildanet to reach your street, treat any date you have been given as a plan rather than a promise. Two dropped contracts and a smaller workforce are what a slower build looks like from outside the company, and only the availability checker knows what actually reaches you today. The Wildanet page carries its current pricing and contract lengths.
None of this is a surprise so much as this year’s pattern. An investor wrote off its stake in toob last month under much the same pressure. Writing down an asset is a long way from running out of money, though, and the two get muddled together every time a filing like this lands. Our guide on whether altnets are safe sets out what genuinely happens to your connection when a small network gets into difficulty, which is the question underneath the numbers.