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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Acroud
Acroud (ACROUD) investor relations material
Acroud Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary25 Aug, 2026
Executive summary
Revenue grew 9% year-over-year to EUR 11,959 thousand in Q2 2026, with organic revenue growth at 9.5%.
Adjusted EBITDA decreased 15% year-over-year to EUR 1,331 thousand but increased 7% sequentially from Q1 2026.
Net loss after tax was EUR -80 thousand, with adjusted loss after tax at EUR -225 thousand.
New Depositing Customers (NDCs) rose 38% year-over-year to 67,558.
The company completed the final principal repayment on all interest-bearing debt outside the bond structure, improving financial flexibility.
Financial highlights
Revenue: EUR 11,959 thousand (Q2 2026), up 9% year-over-year.
Adjusted EBITDA: EUR 1,331 thousand, down 15% year-over-year, up 7% quarter-on-quarter.
EBITDA margin: 11% (down from 14% in Q2 2025).
Net loss after tax: EUR -80 thousand (vs. EUR 218 thousand profit in Q2 2025).
Cash flow from operating activities: EUR 234 thousand (vs. EUR 1,053 thousand in Q2 2025).
Outlook and guidance
New financial targets for 2026–2028: compound annual adjusted EBITDA growth of 12% and net debt/adjusted EBITDA below 1.25x by end of 2028.
Focus on sustained earnings growth, continued deleveraging, and capital structure optimization over dividends.
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Latest events from Acroud
- Revenue and profitability surged, with improved cash flow and lower leverage supporting growth.ACROUD
Q1 2026 - SaaS-led revenue growth offset by margin compression and bond restructuring in Q4 2025.ACROUDQ4 2025
- Record SaaS growth drove 41% revenue increase and improved margins in Q3 2025.ACROUDQ3 2025
- Q2 2025 saw record revenue, strong SaaS growth, and a return to profitability.ACROUDQ2 2025
- Q3 2024 saw revenue and EBITDA declines, but SaaS growth offset iGaming weakness.ACROUDQ3 2024
- Profitability improved despite revenue decline, with SaaS growth and lower non-recurring costs.ACROUDQ2 2024
- Revenue up 3% but profitability hit by Brazil regulation and restructuring; SaaS outperformed.ACROUDQ1 2025
- Restructuring and SaaS growth drive Acroud's improved outlook despite ongoing losses.ACROUDQ4 2024
Next Acroud earnings date
Q3 202625 Nov, 2026
Acroud
Next Acroud earnings date
Q3 202625 Nov, 2026
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Frequently asked questions
Assists other companies to generate traffic
Acroud’s core business is based on operating affiliate sites for companies in the iGaming industry. The company has a portfolio of 30+ comparison and news sites, where the main purpose is to assist other companies to generate more traffic and enhance their search engine optimization. In addition, Acroud offers SaaS services to other affiliates, which enables them to reach larger client bases and campaign pools.
Making it easier to find, compare and choose
Acroud was founded in 2003, with the idea of making it easier to find, compare and choose different digital services. Since then, the company has undergone a couple of mergers and acquisitions, a public listing on the Nasdaq First North Growth Market in June, 2018, and a name change from Net Gaming to Acroud in 2020.
The company now has over 70 employees with offices in Denmark, United Kingdom, Sweden, and is headquartered in Malta. Acroud has grown rapidly during the last years, as it grew sales from approximately 50 million SEK in 2016, to roughly 250 million in 2022, with a mix of organic and acquired growth.
An adapting and rapidly growing market
The iGaming industry is expected to grow from roughly $450 billion in 2022 to $765 billion in 2027, corresponding to a compounded annual growth rate (CAGR) of 11%. This rapid growth is in part attributable to the constantly ongoing regulations of the industry, which obstructs the black iGaming market – forcing the market towards regulated and legal services.
For instance, several states in the U.S have now passed legislation that allows certain types of online gambling such as online poker, live casino, slots, and sports betting. More states are expected to open up for iGaming during the coming years which contributes to the industry growth.
However, regulations within iGaming can also be considered a risk for companies such as Acroud since the whole industry is heavily relying on governmental decisions, which could be completely decisive for many companies and the industry as whole. Other notable affiliate companies that faces similar potential challenges, and opportunities, are Better Collective, Raketech, and Catena Media.