Verve Group Media (VRV) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 6.5% year-over-year to EUR 152.3 million, with organic growth of 3.5%, despite macroeconomic headwinds and FX impacts.

• Gross margin improved to 40%, up from 33.1% in Q2 2025, reflecting platform performance and strategic partnerships.

• Adjusted EBITDA increased to EUR 30.1 million (19.8%–20% margin), with strong client retention at 99% and net dollar retention at 95%.

• Strategic focus on platform unification, AI-driven efficiency, and expansion in Retail Media, with Germany as a key market and US rollout underway.

• Workforce reduction and HQ relocation to Ireland to drive EUR 8 million annualized savings and enable potential U.S. listing.

Financial highlights

• Revenue: EUR 152.3 million in Q2 2026, up 6.5% year-over-year; gross profit margin at 40%.

• Adjusted EBITDA: EUR 30.1 million, up 2.2% year-over-year; margin at 19.8%–20%.

• Operating cash flow after working capital was EUR 10 million in Q2; cash position at quarter-end was EUR 132.4 million.

• Net interest-bearing debt: EUR 462 million; leverage ratio increased to 3.3x.

• Gross profit increased 29% to EUR 61 million.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: revenue EUR 680–730 million, adjusted EBITDA EUR 145–175 million.

• H2 expected to benefit from seasonality, returning ad budgets, and ramp-up of sales and Retail Media initiatives.

• Guidance based on USD/EUR exchange rate of 0.8510 and excludes future acquisitions.