EQS-News: Verve achieves 32% Revenue and 37% Adjusted EBITDA Growth in Q1 2025 - Publishing FY 2025 Guidance

Verve achieves 32% Revenue and 37% Adjusted EBITDA Growth in Q1 2025 - Publishing FY 2025 Guidance

May 28, 2025 (08:00 CEST) – Verve Group SE (ISIN: SE0018538068) a cutting-edge ad software platform connecting advertisers seeking to buy digital ad space with publishers monetizing their content, publishes its Q1 Report 2025 and its financial guidance for the full year 2025.

Net Revenues increased by 32% to 109.0 €m in Q1 2025 (Q1’24: 82.5 €m)

• 16% Organic Revenue Growth¹ in Q1 2025
• 51% YoY increase in number of Large Software Clients¹ to 1,152 (Q1’24: 764)
• 24% YoY increase in Ad Impressions to 248 billion (Q1’24: 199 billion)

Adjusted EBITDA² increased by 37% to 30.2 €m in Q1 2025 (Q1’24: 22.0 €m)

• Further improved adj. EBITDA margin of 28% in Q1 2025 (Q1’24: 27%)
• EBITDA was positively affected by further efficiency gains and revenue growth (even though Q1 is seasonally the weakest quarter) and continued to grow rapidly despite further investments in our sales force
• Leverage Ratio¹ of 2.5x as per 31 March 2025 (31 December 2024: 2.4x)

Financial Guidance 2025 with double digit revenue and EBITDA growth

• Management expects 530-565 €m in revenues for the financial year 2025, reflecting an YoY increase of 21-29% (2024: 437 €m)
• Management expects 155-175 €m adjusted EBITDA for the financial year 2025, reflecting a YoY increase of 16-31% (2024: 133 €m)
• Guidance reflects management’s focus on gaining market share while further focusing on organic growth and decreasing leverage
• Guidance takes into account macroeconomic uncertainty, currency effects, platform integrations and investments in sales force and product

Q1 2025 FINANCIAL HIGHLIGHTS

• Net revenues amount to 109.0 (82.5) €m, an increase of 32%
• Adj. EBITDA of 30.2 (22.0) €m, an increase of 37%, adj. EBITDA margin of 28% (27%)
• Adj. EBIT of 23.3 (16.6) €m, an increase of 40%, adj. EBIT margin of 21% (20%)
• Adj. Net Result of 4.1 (3.1) €m, an increase of 30%

• Items affecting comparability impacts EBITDA negatively with 2.7 (1.8) €m, comprised mainly by one-off legal and advisor fees, share-based compensation and foreign currency translations effects
• Operating Cash Flow amounts to 0.3 (9.1) €m
• Total net debt amounts to 375.9 (318.8) €m
• Adj. Leverage Ratio of 2.5x (3.2x)
• Cash position amounts to 123.3 (124.7) €m
• Total Assets amount to 1,177 (1,024) €m
• Equity Ratio of 37% (36%)
• Earnings Per Share (EPS) amount to 0.00 (0.00) €
• Adj. EPS amounts to 0.02 (0.02) €

 

QUOTE FROM THE CEO

“We’re pleased to report another strong quarter, with 32% revenue growth, gaining further market share, while further expanding our EBITDA margin and growing our EBITDA by 37%.

Growth in the first quarter was again mostly driven by strong new customer momentum. We were able to add over 350 new large software clients compared to last year (up 51% YoY). With a 24% year-over-year increase in ad impressions, we demonstrated the strength of our solutions and the scalability of our platform. Overall, we showed a strong 16% year on year organic growth for the quarter.

Both our demand and supply sides are developing well, while we also continue our focus on product innovation for ID-less, AI, targeting and measuring. We are investing in further future growth by hiring a substantial number of new sellers and support on especially the brand and agency side. We have also started our final phase of platform integration, integrating our supply side platforms into one as well as our demand side platforms into one integrated platform, which will towards the end of the year lead to higher efficiencies, better scalability and lower costs.

We remain confident about continuing our growth path in our 2025 outlook, targeting 21–29% revenue growth, based on our strong organic growth drivers however anticipating some macroeconomic uncertainty.

Verve is becoming even more efficient, has a strong product offering and is now further scaling its sales, as such being well positioned for further growth”, commented Remco Westermann, CEO of Verve Group SE.

 

KEY FIGURES

	2025	2024	2024
In €m	Q1	Q1	FY
Net Revenues	109.0	82.5	437.0
Y-o-Y Growth in Revenues	32%	20%	36%
EBITDA	27.5	20.2	128.5
EBITDA Margin	25%	24%	29%
Adj. EBITDA	30.2	22.0	133.2
Adj. EBITDA Margin	28%	27%	30%
EBIT	16.7	12.3	90.3
EBIT Margin	15%	15%	21%
Adj. EBIT	23.3	16.6	107.1
Adj. EBIT Margin	21%	20%	25%
Net Result	0.2	0.6	28.8
Net Result Margin	0%	1%	7%
Adj. Net Result	4.1	3.1	40.9
Adj. Net Result Margin	4%	4%	9%

 

FINANCIAL GUIDANCE FOR THE FULL YEAR 2025

In €m	Guidance FY  2025	Actuals FY 2024
Revenue	530-565	437
Adj. EBITDA	155-175	133

Notes: (1) All definitions can be found in the Interim Report Q1 2025 on page 16. (2) Items affecting comparability impacts EBITDA negatively with 2.7 (1.8) €m, comprised mainly by one-off legal and advisor fees, share-based compensation and foreign currency translations effects.

The Q1 Report 2025 is available on Verve’s corporate website at  https://investors.verve.com/investor-relations/financial-reports-and-presentations/ in the Investor Relations section.

INVESTOR PRESENTATION 10:00 CEST, MAY 28, 2025  

Verve invites investors to the presentation of its Q1 2025 results by Remco Westermann (CEO) and Christian Duus (CFO) at 10:00 am CEST. The presentation will be held in English and will also be available on-demand on the Company’s website: www.investors.verve.com.

To participate via webcast, please visit:

https://verve-group.events.inderes.com/q1-report-2025/register

To participate via phone and ask questions, please register at the following link:

https://conference.inderes.com/teleconference/?id=50052197

 

Responsible parties

This information constitutes inside information that Verve Group SE is obliged to make public in accordance with the (EU) Market Abuse Regulation 596/2014. The information in this press release has been made public through the agency of the responsible person set out below for publication at the time stated by Verve's news distributor EQS Newswire at the publication of this press release. The responsible person below may be contacted for further information.

 

Contact:

Verve Group SE
Humlegårdsgatan 19 A
114 46 Stockholm, Sweden

Ingo Middelmenne
Head of European Investor Relations
+49 174 90 911 90
ingo.middelmenne@verve.com

Sören Barz
VP Corp. Communications & Strategic Initiatives
+49 170 376 9571
soeren.barz@verve.com

 

About Verve

Verve Group SE ("Verve" or the "Company", ISIN: SE0018538068) operates a cutting-edge ad software platform connecting advertisers seeking to buy digital ad space with publishers monetizing their content. Guided by the mission "Let's make media better," the Company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve is focused on delivering innovative technologies for targeted advertising without relying on identifiers like cookies or IDFA (the Identifier for Advertisers). Additionally, the platform fosters direct engagement between advertisers and publishers, eliminating intermediaries for greater efficiency. Verve's main operational presence is in North America and Europe, and it is registered as a Societas Europaea in Sweden (registration number 517100-0143). Its shares are listed on the regulated market of the Frankfurt Stock Exchange (Ticker: VRV) and on Nasdaq First North Premier Growth Market in Stockholm (Ticker: VER). Verve has an outstanding bond listed on Nasdaq Stockholm under ISIN SE0023848429. The Companies certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden AB; contact info: info@fnca.se

 

Forward-looking statements

This release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this release, including the pro-forma financial figures addressed therein, are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements and pro-forma financial numbers are reasonable it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this release (including the pro-forma financial figures) are free from errors and readers of this release should not place undue reliance on the forward-looking statements in this release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this release, unless it is so required by law or applicable stock exchange rules.