Thinc (THINC) Q3 2026 earnings summary

Executive summary

• Q3 marked a clear recovery: revenue rose 41% YoY, organic growth was 36%, and EBITDA returned to profit at SEK 2.0m.

• Management highlighted growing commercialization of digital products, AI solutions and MarTech platforms as routes to scalable growth and improved long-term profitability.

Financial highlights

• Q3 revenue was SEK 83.4m, up 41% YoY; agency income rose 35% to SEK 22.0m. Excluding Safir consolidation, organic growth was 36% and 20%, respectively.

• Q3 EBITDA was SEK 2.0m vs. a SEK 1.0m loss; profit after financial items was SEK 12k vs. a SEK 3.3m loss, and net income was SEK 10k vs. a SEK 4.2m loss.

• 9M revenue rose 19% to SEK 249.2m and agency income rose 18% to SEK 70.1m; organic growth excluding Safir was 16% and 9%, respectively.

• 9M reported EBITDA was a SEK 1.2m loss, including a non-cash SEK 8.4m Safir remeasurement effect; adjusted EBITDA was SEK 7.2m vs. SEK 8.0m.

• 9M net income was a SEK 7.2m loss vs. SEK 1.1m profit; operating cash flow improved to SEK 20.1m from a SEK 6.8m outflow.

Outlook and guidance

• 2026–2030 targets: average annual organic agency-income growth above 10%, adjusted EBITDA margin of at least 7% by 2030, and net debt no higher than 2.5x adjusted EBITDA.

• Dividend policy targets distributing at least 30% of net income, subject to business opportunities, equity strength and liquidity.

• Management entered Q4 with improving results and a clearer commercial focus; Q2 and Q4 have historically been the strongest sales periods.

• Digital platform Echo has Analytics, Lead Intelligence and Smart Feed modules in use, with further media-buying, data and trading-capacity modules in development or testing.