Storytel Group (STORY) Q1 2026 earnings summary

Executive summary

• Achieved strong subscriber growth and margin expansion in Q1 2026, with net sales up 7.9% at constant exchange rates and adjusted EBITDA margin rising to 17.0% from 14.1% year-over-year.

• Net profit increased to SEK 86 million, up from SEK 19 million, and EPS rose to SEK 1.06 from SEK 0.20.

• Ended the quarter with a net cash position of SEK 220 million, reflecting strong cash flow and improved financial strength.

• Paying subscribers reached 2.74 million, up 8.1% year-over-year, with 72,000 net additions in the quarter and strong growth in Europe and the Nordics.

• Main Market listing on Nasdaq Stockholm remains on track for Q2 or Q3 2026.

Financial highlights

• Group net sales rose 3% reported and 7.9% in constant currency; streaming net sales up 7.4% CER, publishing external net sales up 9.2% CER.

• Adjusted EBITDA increased 24% to SEK 166 million, with margin improving to 17.0% from 14.1% year-over-year.

• Gross margin exceeded 45%, driven by publishing; operating profit (EBIT) reached SEK 88 million, margin 9.0%.

• Net profit reached SEK 86 million, supported by operational performance and positive tax impact.

• Cash flow from operations before working capital was SEK 135 million, up from SEK 88 million year-over-year.

Outlook and guidance

• On track to meet or exceed 2026 adjusted EBITDA target of at least SEK 870 million and deliver on mid-term (2028) targets.

• Confident in delivering net sales CAGR above 10% CER and EBITDA margin above 20% by 2028.

• Continued focus on profitable growth, innovation, and active M&A agenda, especially in publishing and tech.

• On track to exceed 3 million subscribers in 2027.