HomeToGo (HTG) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 2025 IFRS revenue of €108.1 million, up 23.7% year-over-year, and highest-ever quarterly adjusted EBITDA of €43.0 million, up 19.8% year-over-year, driven by strong HomeToGo Pro growth and Interhome acquisition.

• HomeToGo Pro (B2B) segment became the largest revenue contributor, with Q3 revenues up 83.3% year-over-year to €50.9 million and adjusted EBITDA more than doubling to €13.0 million.

• Marketplace segment shifted focus to profitability, resulting in a 60% year-over-year increase in adjusted EBITDA for the first nine months, reaching €10.0 million, with deliberate reduction in marketing spend.

• Net income for Q3 2025 was €31.5 million, up 23.7% year-over-year.

• Successful closing and integration of Interhome, with key milestones achieved ahead of schedule, including B2C channel migration and onboarding of a dedicated CTO.

Financial highlights

• Q3 2025 IFRS revenues: €108.1 million (+23.7% YoY); nine-month 2025: €201.2 million (+14% YoY).

• Q3 2025 adjusted EBITDA: €43.0 million (+19.8% YoY); nine-month 2025: €22.0 million (+31% YoY).

• Q3 2025 net income: €31.5 million (vs. €25.5 million in Q3 2024); nine-month 2025 net loss: €11.4 million.

• Free cash flow for Q3 2025: €(24.5) million, impacted by Interhome acquisition; cash and cash equivalents at Q3 2025 end: €115.5 million.

• Gross profit margin in Q3 2025: 90.1% (down from 98.8% in Q3 2024) due to Interhome consolidation.

Outlook and guidance

• FY 2025 pro forma guidance: IFRS revenue ~€400 million, adjusted EBITDA ~€40 million, positive free cash flow.

• Statutory FY 2025 guidance: IFRS revenue >€260 million, adjusted EBITDA >€11 million, negative free cash flow due to Interhome seasonality.

• Interhome expected to contribute €30 million in IFRS revenue and €(8) million in adjusted EBITDA for the post-closing period (Aug 28–Dec 31, 2025).

• Guidance confirmed based on strong strategic execution and robust nine-month results.