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Spir Group (SPIR) investor relations material
Spir Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong operational and financial performance in Q3 2025, with revenue growth above market rate and continued transformation toward real estate data and software.
Completed divestment of Sikri and Hjemla, making the company a pure-play real estate data and software provider.
Acquired Prosper AI's Real Estate Broker Solutions to strengthen AI-driven offerings for real estate professionals.
Expanded product offerings and customer base, with notable SaaS and GIS consulting service growth.
Launched new AI-driven products, including an AI assistant in iVerdi's EVIT and integration with Boligmappa.
Financial highlights
Q3 2025 revenue grew 8% to MNOK 236, with gross profit up 15% and gross margin improving to 54.6%.
Adjusted cash EBITDA increased 52% year-on-year to NOK 27.5 million, with margin rising to 11.6%.
Free cash flow improved by MNOK 8 compared to Q3 2024, reaching NOK 12 million.
Net interest-bearing debt reduced to negative MNOK 9.3 after paying down NOK 476 million in gross debt.
Extraordinary dividend of NOK 324 million distributed following Sikri divestment.
Outlook and guidance
Targets organic growth rate of 6%-9% long-term, with normalized OpEx growth of 5%-8%.
Rolling out a cost reduction program of at least NOK 20 million for 2026, in addition to NOK 10 million already implemented.
Aims for cash EBITDA margin of 12%-15%, up from 7.5% on a rolling 12-month basis.
Plans to distribute 40%-60% of cash EBITDA to shareholders via dividends or buybacks.
Positive outlook with growing demand for digital real estate solutions and stable transaction volumes.
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