Verisure Group (VSURE) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 operating and financial performance, with new installations up 5.2% year-on-year and ARR up 10.2% year-on-year.

• Completed IPO on Nasdaq Stockholm, raising €3.1 billion and expanding shareholder base.

• Closed acquisition in Mexico, adding 125,000 customers and entering the 18th national market.

• Largest customer portfolio in 14 of 18 markets, with total customer base reaching 6 million, up 8.0% year-on-year.

• Commitment to transparency, long-term value creation, and innovation as key differentiators.

Financial highlights

• Q3 2025 revenue reached €933 million, up 9.9% year-over-year at constant currency.

• Adjusted EBIT for Q3 was €250 million, up 17.1% year-over-year, with a margin of 26.8% (+165bps year-on-year).

• Adjusted EBITDA for Q3 was €443 million, up 11.6% year-over-year, with a margin of 47.4%.

• ARR at €3.292 billion, up 10.2% year-over-year.

• Customer attrition remained low at 7.1% annualized in Q3.

Outlook and guidance

• 2025 ARR growth expected above 12% (over 10% organic, ~2% from Mexico acquisition).

• Adjusted EBIT for 2025 guided at €940–950 million.

• Medium-term guidance: ARR growth around 10% and EBIT margin progression toward 30%.

• Net leverage guidance of 2.5–2.75x by end of 2026; ordinary dividends to start in H2 2026.

• Guidance incorporates currency devaluation risks in LATAM.