Verkkokauppa.com (VERK) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 2.1% YoY to €133.9m; comparable operating result increased to €4.7m from €3.9m, while reported operating result fell to €4.7m from €7.2m.

• International and B2B sales led growth as consumer demand remained soft; improved gross margin and operating efficiency supported profitability.

• 9M revenue grew 4.7% to €374.9m; comparable EBIT was €9.6m versus €9.1m.

Financial highlights

• Q3 gross profit increased to €22.3m from €21.8m; gross margin rose to 16.7% from 16.6%.

• EBITDA was €6.4m versus €8.9m; net result was €3.5m versus €5.3m.

• Q3 operating cash flow was €2.6m versus €29.6m; Q3 2025 included €32.3m from the consumer-financing sale.

• Comparable operating expenses fell to 12.1% of revenue from 12.8%, reflecting the divestment and continued cost discipline.

• 9M operating cash flow was -€7.8m versus €14.6m, despite €14.9m cash flow before working-capital changes.

Outlook and guidance

• 2026 guidance remained unchanged: revenue and comparable EBIT expected to increase from 2025 levels of €526.5m and €14.8m.

• Q4 is the key seasonal period; guidance is subject to purchasing-power and consumer-behavior uncertainty.

• 2026–2028 targets include revenue CAGR above 5%, outgrowing the market, and EBIT margin above 5% by end-2028.