Verkkokauppa.com (VERK) Q3 2025 earnings summary

Executive summary

• Revenue grew 14.9% year-over-year in Q3 2025 to €131.2 million, with broad-based strength across segments and categories, and 9.3% for the first nine months to €358.2 million.

• Gross profit improved for the fourth consecutive quarter, up €5.2 million to €21.8 million, with gross margin rising to 16.6%.

• Operating profit (EBIT) surged to €7.2 million in Q3 (from €0.1 million), and to €12.2 million for the nine months (from -€2.3 million), supported by a non-recurring gain from the sale of the consumer financing business.

• Cash flow from operations surged to €29.6 million in Q3, mainly due to the sale of the consumer financing business.

• Market share increased, with strong performance in both consumer and B2B segments, and international sales up 34.5% year-over-year.

Financial highlights

• Online sales grew 23.1% year-over-year in Q3, representing 68.9% of total revenue.

• Consumer sales increased by 13.7%, B2B by 17.8%, and own brand sales by 7.4% in Q3.

• Inventory optimized to €72.5 million to support growth and seasonal campaigns.

• Equity ratio improved to 21.1% from 16.3% year-over-year.

• Basic earnings per share for Q3 2025 was €0.12, up from -€0.01 in Q3 2024.

Outlook and guidance

• Revenue and comparable EBIT are expected to grow in 2025, with 2024 revenue at €467.8 million and comparable EBIT at €1.8 million as the baseline.

• Market demand expected to remain cautious for the rest of the year due to consumer confidence uncertainties.

• Private consumption forecasted to recover as purchasing power strengthens, supported by rising incomes, slowing inflation, and lower interest rates.

• Guidance subject to uncertainties in consumer purchasing power and behavior, with significant seasonality in Q4.