Deezer (DEEZR) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 revenue rose 1.8% YoY to €133.8 million, the second consecutive quarter of growth, as Direct more than offset declines in Partnerships and Other.

• Nine-month revenue was €402.0 million, up 0.9% YoY; FY26 revenue and adjusted EBITDA outlook were raised.

Financial highlights

• Q3 revenue was €133.8 million versus €131.4 million, up 1.8% reported and 1.0% at constant FX; 9M revenue rose 0.9% to €402.0 million.

• Q3 revenue by geography: France €84.7 million, up 3.8%; Rest of World €49.1 million, down 1.4% reported and 3.6% at constant FX.

• 9M revenue by geography: France €251.8 million, up 4.2%; Rest of World €150.2 million, down 4.2% reported and 4.9% at constant FX.

Outlook and guidance

• FY26 revenue is now expected to grow slightly versus FY25, replacing the prior outlook for broadly stable revenue.

• FY26 adjusted EBITDA is expected to exceed €10 million, versus prior guidance for positive adjusted EBITDA; selective investment continues.

• Positive free cash flow is expected for the third consecutive year.