Vertiseit (VERT) Q3 2026 earnings summary

Executive summary

• ARR reached SEK 464.0m, up 43.9% YoY at fixed FX; organic ARR growth was 3.5% QoQ, equivalent to 14.6% annualized.

• Q3 revenue rose 45.4% YoY to SEK 219.2m; SaaS contributed 53.9% of revenue, and adjusted EBITDA margin expanded to 25.1%.

• Scala integration was completed within the planned three months; strategy now differentiates Scala, Grassfish and Visual Art brands and partner models.

Financial highlights

• Adjusted EBITDA rose 80.9% YoY to SEK 55.1m; margin was 25.1%, including SEK 1.5m of comparability adjustments.

• Cash EBITDA increased 114.0% YoY to SEK 48.8m; margin was 22.2% versus 15.1%.

• EBIT was SEK 24.8m versus SEK 12.2m; profit for the period increased 56.8% to SEK 16.7m.

• Cash EBITDA per share increased 91%, meeting or exceeding the stated target.

• 9M revenue rose 19.2% YoY to SEK 583.1m; adjusted EBITDA was SEK 117.5m and Cash EBITDA SEK 96.6m.

Outlook and guidance

• Long-term targets by end-2032 are ARR above SEK 1bn and Cash EBITDA margin above 35%; ARR growth target exceeds 20%.

• Financial targets include ARR growth CAGR above 20%, Cash EBITDA per-share growth CAGR above 25%, and annual NRR above 100%.

• Working-capital normalization, reversal of ~SEK 15m in Scala-related receivables, and lower integration and restructuring expenses are expected to support Q4 cash flow.

• Scala synergies are expected to be fully realized during 2026; SaaS conversion of perpetual and maintenance revenue may lift ARR by almost 50% over at least three years.