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Vercom S.A (VRC) investor relations material
Vercom S.A Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Celebrated 20th anniversary with record-breaking Q3 2025 results, surpassing Q2, and achieving profitable growth in line with guidance through organic expansion and value-accretive acquisitions.
Over 111,500 paying customers globally, up 20% year-over-year, with 11,000+ new clients added in Q3 and strong presence in 180 markets.
AI integration across products, especially MailerLite, improved onboarding, support, campaign automation, and operational efficiency.
Strategic focus on scalable, high-margin services and a long-term goal of reaching over one million paying customers.
Revenue for the nine months ended 30 September 2025 was PLN 341,361 thousand, down 6.6% year-over-year, but net profit rose 20.7% to PLN 65,802 thousand.
Financial highlights
Gross margin/gross profit grew 18% year-over-year to PLN 65 million in Q3 2025, with gross profit for nine months at PLN 184,096 thousand.
Adjusted EBITDA rose 23% year-over-year to PLN 35 million in Q3, with a 40% CAGR since Q3 2021; operating EBITDA for nine months at PLN 92,983 thousand (27.2% margin).
Adjusted net profit up 29% year-over-year to PLN 25 million in Q3; net profit for nine months at PLN 65,802 thousand, up 20.7%.
Free cash flow margin at 20%, with 74–75% EBITDA to FCF conversion rate and 100 million PLN in free cash flow.
Currency headwinds (USD/PLN) reduced margin by 3.5 million PLN YTD.
Outlook and guidance
Optimistic Q4 outlook, historically the strongest quarter due to seasonality, with potential to reach 120,000 clients by year-end.
Targeting PLN 135 million adjusted EBITDA for 2025, with new incentive scheme aiming for PLN 230 million by 2028.
Dividend policy to distribute at least 50% of net profit, with expectations for a higher payout in 2025.
Continued focus on international expansion and scaling customer base.
Analyze the drivers of reduced cost of services sold
Evaluate the significance of the new incentive scheme's EBITDA targets
Detail the rationale for the 2025 share buyback
AI's impact on customer acquisition efficiency?
MailerLite pricing strategy given AI value-add?
Shoper integration: client conversion expectations?
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Next Vercom S.A earnings date
Q4 202517 Mar, 2026
Next Vercom S.A earnings date
Q4 202517 Mar, 2026
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Frequently asked questions
Vercom S.A. is a Poland-based technology company specializing in cloud-based communication solutions. The company provides platforms for automated messaging, including email, SMS, push notifications, and chat services, enabling businesses to enhance customer engagement. Vercom serves clients across various industries, offering API-based solutions for transactional and marketing communications. The company is headquartered in Poznań, Poland, and its shares are listed on the WSE.
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