Adverty (ADVT) Q3 2025 earnings summary

Executive summary

• Focus on profitable growth and programmatic advertising led to improved margins and cost efficiency year-over-year.

• Programmatic segment revenue in USD grew 29% year-over-year in Q3, with total revenue up 16% in USD and 2.6% in SEK.

• Direct sales remained weak but showed signs of recovery mid-quarter.

• Strategic initiatives included a fully guaranteed rights issue of approximately SEK 14.4M, renegotiation of loan structure, and a bridge loan of SEK 1.5M.

• No significant events occurred after the reporting period.

Financial highlights

• Net sales for the first nine months: SEK 20,887K (down from SEK 23,004K year-over-year); Q3 net sales: SEK 7,393K (up from SEK 7,204K year-over-year).

• EBITDA for Q3 improved to SEK -1,101K from SEK -1,841K year-over-year; nine-month EBITDA improved to SEK -6,161K from SEK -7,223K.

• Net result for Q3: SEK -4,035K (improved from SEK -4,818K); nine-month net result: SEK -14,877K (improved from SEK -15,606K).

• Earnings per share for Q3: SEK -0.03 (improved from SEK -0.49); nine-month EPS: SEK -0.01 (improved from SEK -0.15).

• Cash flow for Q3: SEK 8,843K; cash and cash equivalents at period end: SEK 12,729K (up from SEK 1,420K year-over-year).

Outlook and guidance

• Positive year-over-year trend continues into Q4, with confidence for year-end and 2026.

• Ongoing focus on margin improvement, cost optimization, and strengthening the technical platform.