Dormy (DORMY) Q3 2026 earnings summary

Executive summary

• Q3 2026 was the first quarter as a listed business after the Nasdaq First North Premier listing on 24 September; revenue was broadly flat while adjusted EBIT margin improved.

• Active customers rose 9% YoY to 562,400, and management cited growing golf participation, including among younger players, as a basis for long-term growth.

Financial highlights

• Q3 revenue fell 0.5% YoY to SEK 375.1M; net income was SEK 46.3M vs SEK 47.6M, and EPS was SEK 3.09 vs SEK 3.17.

• Q3 EBITDA was SEK 74.9M vs SEK 75.0M; reported EBIT was SEK 61.5M vs SEK 62.0M, while adjusted EBIT rose to SEK 65.1M from SEK 63.6M.

• 9M revenue rose 3.5% to SEK 942.6M; net income was SEK 94.8M vs SEK 99.4M, and EPS was SEK 6.32 vs SEK 6.63.

• 9M EBITDA was SEK 169.0M vs SEK 171.1M; reported EBIT was SEK 128.9M vs SEK 132.2M, and adjusted EBIT was SEK 137.6M vs SEK 133.8M.

Outlook and guidance

• Financial targets remain unchanged: annual organic growth above 5%, adjusted EBIT margin above 10%, and net debt/adjusted EBITDA below 1.5x, excluding IFRS 16 and measured on an R12 basis.

• Sales activity was intentionally kept lower early in Q4 to support central-warehouse management-system implementation; implementation was on plan and preparations were underway for the year-end sales period.

• October revenue was SEK 36.8M, down 10.3% YoY; organic growth was -11.5%.