Vertiseit (VERT) Q1 2025 earnings summary

Executive summary

• ARR reached SEK 281 million (280.5 MSEK) for Q1 2025, up 67% year-over-year, with 19% organic growth and strong SaaS metrics; Visual Art integration completed.

• Net revenue increased 84% to 170.6 MSEK, driven by Visual Art acquisition and organic growth.

• Major new contracts signed with KFC UK, Caffè Nero, Shell Netherlands, and ICI Paris.

• Eiffel Investment Group invested via share issue and warrants, raising ~78 MSEK and contributing to net debt reduction.

• EBITDA margin was 12% for Q1 2025, with EBITDA at 21 MSEK and cash EBITDA at 13 MSEK.

Financial highlights

• ARR grew to SEK 281 million, up 67% year-over-year at constant exchange rates; organic ARR growth was 19%.

• Net revenue up 84% year-over-year; SaaS revenue rose 64% to 72.7 MSEK.

• Adjusted EBITDA was 20.5 MSEK (12.0% margin); net income was 5.6 MSEK; EPS was 0.19 SEK.

• Net debt reduced to 140 MSEK, with available liquidity at 133.3 MSEK.

• Profitability and cash flow impacted by integration costs and currency headwinds.

Outlook and guidance

• Profitability expected to remain lower in Q1 and Q2 due to Visual Art integration, with recovery targeted for Q3.

• Focus on operational synergies, SaaS revenue mix, and ISO/SOC2 certification post-integration.

• Long-term ambition to reach 1 billion SEK in ARR by 2032, with >20% annual ARR growth and >35% Cash EBITDA margin.