Legend Internet PLC Reports Quarterly Loss Due to Rising Costs and Declining Revenue

Legend Internet PLC, a Nigerian internet service provider based in Abuja, swung to a loss of N14.8 million for the period ending October 31, 2025. The company faced higher operating expenses and a 17% decrease in revenue, mainly driven by a drop in Legend Fiber sales.

This decline in revenue resulted in a net loss compared to a profit of N94.5 million in the previous year. The company's financial statement also showed a decrease in shareholder funds, tight cash reserves, and a negative net cash position.

Despite some revenue contributions from other sources, Legend Internet PLC struggled with weakening financial performance.