Good afternoon, everyone. Good morning in America. Apologies for invading your Memorial Day weekend. I'm here with Mary in our London office, and Scott is in Singapore. We've got a brief presentation by Mary on the Q1 results. Then Scott will fill out the Q1 by talking about our two additions, our two mergers. Then we'll open up for Q&A. Mary, off you go.
Thank you. Hello. Thank you for joining us today for our Q1 trading update. We have delivered strong top-line growth in the first quarter, with revenue up 70% on a reported basis and 41% on a like-for-like basis at GBP 207 million. Gross profit net revenue was up 35% on a like-for-like basis to GBP 171 million. We maintain our full year guidance of 25% growth in gross profit net revenue. In the full year, we continue to target a steady improvement in EBITDA margin, and from this year onwards, in line with our three-year plan. Operational EBITDA for the year will be significantly weighted to the second half. The group is naturally weighted to the second half, with the average second half delivering around two-thirds of the full year EBITDA.
This will be even more the case in 2022 due to investment in our growth, including our whoppers and our new pitch whopper, as well as investment in our management infrastructure. In addition, we will be taking selective cost actions with an increased focus on operational efficiency given the current economic uncertainty. Since the end of Q1, we have added two new whoppers, one through pitch and one through combination. Both will be fully effective in 2023 and will take our total to eight. The new pitch whopper will be operative from the second half of this year, with resources ramping in the first half. Net debt at the end of March was GBP 48 million, and it is currently ranging between GBP 140 million and GBP 190 million on a monthly basis, reflecting significant combination payments, including TheoremOne and the growth of the business.
We continue to maintain significant liquidity. Moving to the next slide. My comments here are all on a like-for-like basis. We delivered strong gross profit net revenue growth across all practices and regions. Content grew 33%, including strong growth from our whoppers and particularly BMW. Data & Digital Media was up 35%, with continued strong performance from the activation and performance business. Technology Services was up 58%, with Zemoga now operating under the integrated brand as the Media.Monks. From a regional perspective, EMEA grew fastest with gross profit net revenue up 55%, and it accounted for 20% of the business. The Americas, our largest region, grew 29%. In APAC, we saw gross profit net revenue for the quarter up 41%, with the region accounting for 8% of the mix.
In the appendix, recognizing questions which have been asked following the full year results, we've included information on outstanding contingent consideration and invested capital, and we're happy to take any questions on these at your convenience. With that, I will pass to Scott for an update on our mergers.
Great. Thank you, Mary. Welcome, everyone. I'm gonna just quickly cover a couple of the mergers that we've done, one in Q1 and one after Q1. The first one was 4 Mile Analytics. That was the deal we did in Q1. 4 Mile Analytics has joined our data and digital media practice. It's a very focused company specializing in data analytics, data engineering, governance, and they have a specific platform expertise, particularly around Looker, which is a platform that Google acquired several years ago, but also Snowflake, Fivetran, and Google Cloud. They have 50-plus data engineers, primarily in California, and generated revenues and gross profit, which is the same for them, of approximately $6.5 million in 2021, and growing strongly.
It's a great addition to our business and a great example of a company that's come in and made a real difference, quite quickly. It's also a business that from a sort of addressable market perspective, really is not attacking the digital media spend market, but much more the data analytics and digital transformation kind of budgets. We move on to TheoremOne, which is a more recently completed transaction. This is in our Technology Services practice, which you just heard Mary reference. I think it's important to sort of define that maybe what that means for us. For us, that's custom software development.
Essentially building digital products and services for our clients and also the systems integration around their marketing technology. The thesis for us sort of moving more into this direction is really that technology and marketing we see them intersecting more and more, and our clients need the kind of partners who they can trust to work with them seamlessly across both technology and marketing. Just as they internally are increasingly seeing collaboration between the CMO, the CIO, the CTO across their own digital transformation efforts. I think you're all familiar with the Zemoga merger, which Mary referenced, which was a significant expansion for us last year. In the six months since that deal, we've seen really meaningful synergies already.
They've converted several of our existing clients and likewise introduced both creative and data and digital media capabilities to several of their existing clients. Actually TheoremOne is a great sort of additional deal in this area for us. It's very complementary to Zemoga, both in terms of structure, business model, client base, and really approach. While Zemoga is primarily a nearshore offering with most of their engineering staff in Colombia, most of their clients and revenues in the US. TheoremOne has a more onshore offer and a more consultative offer. The two will work very well and very closely together and already are. TheoremOne generated revenues and GP of around $58 million in 2021. It does bring, as Mary referenced, one whopper with it, so that's in the financial services industry.
They also have very strong relationships and large relationships with several of our other technology whoppers. A great addition to the team. With that, I'll pass it back to Martin and, I think, Sergey, we're open to Q&A.
Okay. Thanks, Scott. Thank you, Mary. Sergey, can you take questions, please?
Certainly. Ladies and gentlemen, if you wish to ask a question at this time, please signal by pressing star one on your telephone keypad. Please make sure the mute function on your phone is switched off to allow your signal to reach our equipment. Again, just press star one to ask a question. There are currently no questions in the phone queue. As a reminder please press star one to ask a question.
Okay.
Please press star one to ask a question.
We'll just give it another minute or so, and if none. We had several this morning on our London call. I think we had six analysts that were asking a number of questions that have been covered by analysts' material already being sent out. If anybody needs it, by all means, just send us a note and we'll send you the broker circulars. Any questions, Sergey?
No, sir. I don't see any questions in the phone queue.
All right. Very good. Well, thank you very much, everybody. We'll be back with you, half year should be. We have our AGM in the middle of June, and half year should be in September. Look forward to talking to you again soon. Thank you.
Thank you.