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Vetted Assets (VETT) investor relations material
Vetted Assets Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 99% year-over-year net sales growth in Q2 2026 to 76.6 Mkr, driven by the Andy okay acquisition and 48% organic growth in existing portfolio companies.
Adjusted EBITDA surged nearly 1000% to 3.0 Mkr in Q2 2026, reflecting operational improvements and excluding significant one-time costs.
Andy okay, the largest holding, grew sales by 80% in Q2 and 181% in July 2026 compared to July 2025.
The group completed its first acquisition and strengthened its capital structure, with a second acquisition agreed post-period.
Financial highlights
Q2 2026 net sales: 76.6 Mkr (38.5 Mkr Q2 2025); H1 2026 net sales: 101.5 Mkr (72.2 Mkr H1 2025).
Q2 2026 adjusted EBITDA: 3.0 Mkr (0.3 Mkr Q2 2025); Q2 EBITDA: 0.9 Mkr (0.1 Mkr Q2 2025).
Q2 2026 EBITA: 0.8 Mkr (-0.1 Mkr Q2 2025); Q2 EBIT: -8.2 Mkr (-6.1 Mkr Q2 2025).
Q2 2026 net result: -8.7 Mkr (-7.0 Mkr Q2 2025); H1 2026 net result: -20.4 Mkr (-5.3 Mkr H1 2025).
Q2 2026 gross margin: 60.8% (47.4% Q2 2025); Q2 adjusted EBITDA margin: 4.0% (0.8% Q2 2025).
Outlook and guidance
2030 targets: net sales of 1.2–1.4 billion SEK, adjusted EBITDA margin of 7–10%, net debt/EBITDA ≤2.5x.
Andy okay targets: net sales of 500–750 Mkr and EBITDA margin of 10–20% within 5–7 years.
Continued focus on DTC acquisitions with proven profitability and international scalability.
- Q1 2026 set the baseline for Vetted Assets, with restructuring and early signs of strong growth.VETT
Q1 2026 - Profitability rebounded in 2025 despite lower sales, with a stabilized financial position and reduced debt.VETT
Q4 2025 - Restructuring and cost savings improved margins and reduced losses, with new digital asset initiatives.VETT
Q3 2025 - Revenue fell sharply year-over-year, but gross margin and financial stability improved.VETT
Q2 2025 - Q3 2024 saw improved profitability and reduced debt, with market conditions gradually stabilizing.VETT
Q3 2024 - Q2 saw improved sales, positive EBITDA, and strengthened finances amid a challenging market.VETT
Q2 2024 - Net profit turned positive in Q1 2025 despite lower sales, driven by divestments and debt cuts.VETT
Q1 2025 - Operational turnaround underway with reduced debt and improved subsidiary EBITDA.VETT
Q4 2024
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Next Vetted Assets earnings date
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