Storytel Group (STORY) Q2 2026 earnings summary

Executive summary

• Net sales grew 12.7% year-over-year in constant currencies for Q2 2026, with organic growth of 10.7% and reported growth of 11.7%.

• Adjusted EBITDA margin rose to 19.2% (from 16.8%), with adjusted EBITDA up 27% to SEK 205 million and net profit more than doubling to SEK 100 million; EPS was SEK 1.18.

• Subscriber base increased 7.2% year-over-year to 2.75 million, with non-Nordic subscribers surpassing Nordic for the first time and net additions of 11,000 in the quarter.

• Completed acquisition of Overamstel, strengthening Benelux presence, and transfer to Nasdaq Stockholm Main Market.

• Launched new products: Storytel Genie and author platform Storytel Pulse.

Financial highlights

• Q2 2026 net sales: SEK 1,098 million (reported), SEK 1,070 million (constant currency); H1 2026 net sales: SEK 2,049 million.

• Gross margin increased to 46.3% (up from 45.3% year-over-year).

• Adjusted EBITDA margin at 19.2% (up from 16.8%); adjusted EBITDA SEK 205 million.

• Net profit SEK 100 million, up from SEK 47 million; EPS SEK 1.18, up from 0.54.

• Net debt at period end: SEK 14 million; net debt/adjusted EBITDA: 0.02x.

Outlook and guidance

• Full-year 2026 adjusted EBITDA guidance raised to SEK 900 million (from SEK 870 million), assuming constant exchange rates and unchanged incentive costs.

• Targeting at least the same net subscriber adds for 2026 as in 2025, with acceleration expected in H2.

• On track for 2028 targets: annual sales growth of at least 10% (CER), EBITDA margin above 20%, net debt/EBITDA below 1.5x.