Scout24 (G24) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 19.7% YoY to €198.2m, including 10.1% organic growth; 9M revenue increased 17.9% to €570.5m.

• Q3 ordinary operating EBITDA grew 15.9% to €120.8m and adjusted EPS rose 21.5% to €1.09.

• Subscription growth across Professional and Private, higher listings, and expanding AI-enabled products supported performance.

Financial highlights

• Q3 revenue was €198.2m, up 19.7% reported and 10.1% organically; 9M revenue was €570.5m, up 17.9% reported and 10.4% organically.

• Q3 ordinary operating EBITDA was €120.8m, up 15.9%; 9M reached €344.7m, up 15.1%.

• Adjusted EPS rose 21.5% to €1.09 in Q3 and 19.7% to €3.06 for 9M; adjusted net income increased 15.8% to €75.1m in Q3 and €213.6m for 9M.

• Reported net income fell 30.0% to €71.1m in Q3, while 9M net income rose 6.4% to €202.8m; Q3 comparison reflected a prior-year deferred tax benefit.

• 9M free cash flow was €151.1m, down 25.3%; excluding €50.7m in LTIP and Sprengnetter-related cash payments, it was €201.8m, up 14.6%.

Outlook and guidance

• FY2026 revenue growth guidance was raised to ~18% from 16%-18%, including 7-8 percentage points from Spain, versus the previous 6-7 points.

• FY2026 ordinary operating EBITDA margin guidance remained up to 61% reported and up to 64% organically.

• Stronger organic margin expansion is expected in Q4; management expressed confidence in 2027-28 CMD targets and expects professional ARPU opportunities from upgrades, ImmoPoints and products.