Q1 2026 Cdon AB Earnings Call Transcript
Key Points
- Cdon AB (OSTO:CDON) reported a 14% growth in GMV and a 9% increase in GPAM, indicating strong performance across both segments.
- The company has maintained a positive EBITDA trajectory, with a rolling 12-month EBITDA of SEK27 million, showing significant improvement from the previous year.
- Cdon AB (OSTO:CDON) successfully onboarded five European giants, contributing to 5% of the CDON segment's GMV, which aligns with their growth strategy.
- The company is expanding its Nordic presence, with a 7% growth in CDON and 32% growth in Fyndiq in the Nordic countries, excluding Sweden.
- Cdon AB (OSTO:CDON) has a strong liquidity position with an end-of-period cash balance of SEK96 million, up from SEK77 million a year ago, providing a stable foundation for future growth initiatives.
- Despite growth, Cdon AB (OSTO:CDON) reported a negative EBITDA of minus-SEK2.8 million for the quarter, indicating ongoing profitability challenges.
- The onboarding of large European merchants was delayed by approximately three months, affecting the anticipated timeline for GMV contributions.
- Marketing costs as a percentage of GMV increased to 8.4%, reflecting higher spending, particularly in the Fyndiq segment.
- The exit from the Prisjakt channel, due to unprofitability, highlights challenges in optimizing the marketing mix and customer acquisition strategies.
- Retail media revenue was zero in Q1, as the company focused on development and testing, delaying revenue generation from this initiative.
Good morning and welcome to the Cdon Q1 2026 earnings presentation. We are joined today by Fredrik Norberg, CEO and Carl Andersson, CFO. Welcome, gentlemen.
Thank you.
Thank you and welcome to this earnings call.
And at the new time, early hours, and we will continue with this new time going forward as well.
Together with me today, as usual, we have our CFO, Carl Andersson, who will dig into the numbers later on.
First, a little bit summary of who we are. We are one of the leading marketplaces in the Nordics, having 3 million active customers with 100 million annual visits. We are operating two segments, CDON and Fyndiq, with an asset light and scalable business model, and we are operating in a highly attractive market with large potential, where we can see an anomaly in the Nordics compared to the rest of the world in how you shop online, where we shop much less online through marketplaces in the Nordics, and that we want to change, of course.
To summarize the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
