Evoke (EVOK) Q3 2025 TU earnings summary

Executive summary

• Achieved fifth consecutive quarter of year-over-year revenue growth, with all three divisions—UK & I Online, International, and Retail—showing positive performance in Q3 2025.

• Continued execution of strategic initiatives, including platform migrations and product enhancements, supporting long-term profitability and efficiency.

Financial highlights

• Group revenue reached £435m, up 5% year-over-year (+4% constant currency) for Q3 2025.

• Contribution grew faster than revenue, reflecting focus on sustainable, profitable growth and improved marketing returns.

• UK & I Online revenue grew 1%, International up 8% (+6% cc), and Retail up 6% year-over-year.

• Average monthly actives declined 9% in UK & I Online and 2% at Group level, but increased 15% in Retail.

Outlook and guidance

• FY25 Adjusted EBITDA margin guidance of at least 20% reiterated, with expectations to outperform current market consensus (£362m).

• Medium-term targets reaffirmed: 5–9% annual revenue growth, ~100bps Adjusted EBITDA margin expansion per year, and leverage below 3.5x by end of 2027.

• Plans in place to drive Q4 revenue improvement through product enhancements and customer lifecycle management.