Adtraction Group (ADTR) Q3 2025 earnings summary

Executive summary

• Net sales declined by 2% year-over-year to SEK 285.9 million in Q3 2025, with gross profit down 2.3% to SEK 54 million.

• EBITA increased by 2% year-over-year to SEK 11.9 million, maintaining profitability, with a margin of 4.2% for Q3.

• E-commerce segment grew 7% in gross profit, while the finance segment declined by 15%.

• Operating cash flow was strong at SEK 16 million, with a net cash position of SEK 115.1 million at quarter-end.

• The Affiliate Future acquisition, completed in October, supports European expansion and is expected to have a marginal impact on results.

Financial highlights

• Net sales and gross profit declined 2% year-over-year; flat when excluding currency effects.

• EBITA margin improved, and adjusted net result per share increased to SEK 1.25.

• Cost base has decreased year-over-year, with cost discipline a continued focus.

• Operating cash flow for Q3 was SEK 16 million, and net cash position at period end was SEK 115.1 million.

• One-off costs of SEK 1 million were recorded, down from SEK 2.5 million last year.

Outlook and guidance

• Q4 is expected to be seasonally strong, but overall growth is projected to remain slightly negative, including Affiliate Future's contribution.

• The main goal for 2026 is to return to growth, focusing on integrating Affiliate Future and further M&A.

• Strategic projects include platform updates, new tools, and international expansion.

• Brands are optimistic for Black Friday and holiday sales.

• Cost control is expected to maintain profitability.