Q2 2026 Verve Group Media SE Earnings Call Transcript
Key Points
- Revenue grew 6.5% year-over-year to EUR152.3 million, with organic growth of 3.5%.
- Gross profit margin improved significantly to 40.0%, up 6.9 percentage points year-over-year.
- Adjusted EBITDA increased to EUR30.1 million, up from EUR29.5 million in the prior year.
- Customer retention rate remained high at 99%, and the number of large clients (over EUR100k) grew 21.5% year-over-year.
- The company is making strategic progress in retail media, building the largest in-store network in Germany with 17,000 stores and planning a US rollout.
- Organic growth of 3.5% was below expectations due to macroeconomic headwinds and reduced ad spend in key sectors like travel, CPG, and automotive.
- Ad impressions decreased 10% year-over-year due to a deliberate shift away from lower-quality inventory, which impacted revenue growth.
- Net dollar retention rate was 95%, indicating existing customers spent less than the prior year.
- The company incurred significant one-off costs of EUR9.3 million, including EUR4.2 million for restructuring and severances, impacting quarterly profitability.
- Leverage ratio increased to 3.3x from 3.1x, and the securitization facility is nearly fully drawn, with plans to expand capacity.
Welcome to all of you joining us from Europe as well. My name is Ingo Middelmenne, Head of Investor Relations at Verve Group. I'm pleased to welcome you to our Q2 2026 earnings call. As usual, our call format allows private investors to join the session live in listen-only mode. Institutional investors and analysts will have the opportunity to ask questions live during the Q&A session later on.
(Operator Instructions)
While Q2 was certainly not an easy quarter for us, nevertheless, as the figures show, we held our ground against the backdrop of a challenging market environment and continue to grow our business. We have prepared a presentation to give some additional insights. To our performance and provide further transparency.
After the presentation, we will of course take the time to answer your questions. Please note that the entire call, including the Q&A session will be recorded and made publicly available on our website after the call. If you already have a question in mind, feel free to
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