Acroud (ACROUD) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue rose 41% year-over-year to EUR 13,033 thousand, driven by SaaS segment growth and record performance despite seasonal headwinds.

• Adjusted EBITDA increased 75% year-over-year to EUR 1,422 thousand, though it declined 9% sequentially from Q2 2025.

• Loss after tax narrowed to EUR -681 thousand from EUR -1,040 thousand in Q3 2024; adjusted loss after tax was EUR -221 thousand.

• New Depositing Customers (NDCs) grew 10% year-over-year to 45,508, but fell 7% quarter-on-quarter.

• CEO Mikael Strunge was appointed during the quarter, alongside key internal leadership promotions.

Financial highlights

• Q3 2025 revenue: EUR 13,033 thousand (up 41% year-over-year).

• Adjusted EBITDA: EUR 1,422 thousand (up 75% year-over-year); EBITDA margin 9%.

• Loss after tax: EUR -681 thousand; adjusted loss after tax: EUR -221 thousand.

• Earnings per share: EUR -0.0006; adjusted EPS: EUR -0.0002.

• Cash flow from operating activities: EUR 1,074 thousand (Q3 2024: EUR 206 thousand).

Outlook and guidance

• Entering Q4 with confidence in project pipeline, a stronger balance sheet, and improved organizational efficiency.

• Long-term target to maintain net debt/adjusted EBITDA at or below 2.5x.

• Focus remains on organic growth and operational excellence.