Netcompany Group (NETC) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue grew 34.6% year-over-year, with 8.5% organic growth, driven by public and private sector demand, new AI-driven platforms like VERÁ and AMPLIO Estate, and the integration of Netcompany Banking Services (NBS, formerly SDC).

• Integration of NBS is progressing ahead of schedule, with significant cost synergies and operational improvements expected.

• Special items and restructuring costs related to NBS led to a net loss for Q3 2025.

• Secured major new contracts in the public and private sectors across multiple European countries.

Financial highlights

• Q3 2025 revenue: DKK 2,172.0m (up 34.6% YoY); organic revenue up 8.5%.

• Adjusted EBITDA margin for the Group was 16.6% in Q3 2025, with organic margin at 19%.

• Net profit for Q3 2025 was negative DKK 67.9m, mainly due to special items from NBS integration.

• Free cash flow for Q3 2025 was negative DKK 55.5m, down from DKK 145.3m in Q3 2024.

• Days sales outstanding improved to 53 days from 70 days year-over-year.

Outlook and guidance

• Organic revenue growth guidance for 2025 raised to 6–8%, with adjusted organic EBITDA margin expected between 16–18%.

• Long-term targets set at 5–10% annual organic revenue growth and adjusted EBITDA margin above 20% by 2029, including NBS.

• Share buyback programme of DKK 500m ongoing, with a total DKK 2bn programme to be completed by 2026.