Statistical gazette OnlyCrawl
Corporate deskFenix International Ltd 10354575

OnlyFans ownership, valuation and employee statistics

The most profitable media company per head in Britain is a 47-person London entity that takes 20% of other people’s inbox. Fiscal 2025 made that impossible to ignore.

TL;DR

  • Fenix International Limited, incorporated 1 September 2016, company number 10354575, 9th Floor, 107 Cheapside, London.
  • Leonid Radvinsky died 23 March 2026. BBC: the company is now owned by his widow, Yekaterina “Katie” Chudnovsky. He had been paid $535M dividends for FY2025 plus $174M between then and 26 March 2026.
  • Architect Capital bought a 16% minority at a $3.15B valuation (May 2026 reporting). An earlier Forest Road process around $8B did not close. 2.0× FY2025 net revenue. 4.4× pre-tax profit. Adult risk is priced in the multiple, not the cashflows.
  • 47 employees. ~1,500 external content moderators. $714M PBT ⇒ $15.2M profit per employee. BBC’s comparison: Marks & Spencer, 65,000 people, £671M profit.
  • Ofcom fined the firm about £1.05M for inaccurate age-assurance answers. The company says it has paid over £600M in UK corporation tax since 2016.

Cash extraction vs valuation

FY2025 dividends$535M

75% of $714M pre-tax profit.

Post-year dividends$174M

To 26 March 2026, days around the founder’s death.

Architect valuation$3.15B

16% minority. Implied equity cheque ~$504M.

EV / net revenue2.0×

$3.15B / $1.55B. SaaS this profitable would not trade here.

EV / PBT4.4×

A cash-yield business with a reputational discount.

Headcount47

Plus ~1,500 contractors on trust and safety.

FY2024 already paid $497M ordinary dividends (Sacra). The company has historically run with no external debt and no VC cap table. The Architect stake is the first widely reported institutional minority. CEO in the FY2025 communications: Keily Blair. Older Sacra copy still lists Amrapali Gan — a reminder to date your sources.

What 47 people actually are

Platform leverage of $165 million GMV per employee is not a miracle of software so much as a miracle of not employing the workforce. Creators are not staff. Moderators are largely not staff. Payment-processor risk sits with banks. The filing headcount is the residual: product, finance, legal, exec. BBC was right to reach for Marks & Spencer. The comparison is grotesque on purpose.

If you staff-adjust with 1,500 moderators, profit per “worker” falls from $15.2M to about $461k — still extraordinary, no longer science fiction. Always ask which labour is inside the 47.

Regulatory overlay

Ofcom dropped a child-access investigation but fined Fenix ~£1.05M for failing to describe its age-assurance settings accurately (facial estimation challenged at 20, not 23). Payment-processor risk remains the existential tail, not the UK fine. Anyone modelling OnlyFans as a perpetual 46% net-revenue margin without a regulatory scenario is not modelling it.