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Verve Group

14.89 SEK

-0.47 %

1,279 following
Corporate customer

VER

First North Stockholm

Software

Technology

Overview
Financials & Estimates
Ownership
Investor consensus
Compare
-0.47 %
+1.29 %
-21.22 %
-20.50 %
-38.67 %
-58.87 %
+6.36 %
-57.09 %
+6.74 %

Verve (Ticker: VER) is a fast-growing, profitable, digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with the mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe. Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market.

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Market cap
2.98B SEK
Turnover
1.55M SEK
P/E (adj.) (26e)
4.45
EV/EBIT (adj.) (26e)
5.98
P/B (26e)
0.59
EV/S (26e)
1.03
Dividend yield-% (26e)
-
Coverage
Recommendation
Buy
Target price
20.00 SEK
Updated
2026-02-20
Disclaimer
 Christoffer Jennel
Christoffer Jennel

Analyst

Latest research

Latest analysis report

Released: 2026-02-20

Latest extensive report

Released: 2024-07-05

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
13/5
2026

General meeting '26

20/5
2026

Interim report Q1'26

18/8
2026

Interim report Q2'26

Risk
Business risk
Valuation risk
Low
High
All
Research
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3rd party
ShowingAll content types
Behind the numbers: Verve Group CEO reflects on Q438:26
Video3/20/2026, 1:31 PM by
Christoffer Jennel

Behind the numbers: Verve Group CEO reflects on Q4

We had the opportunity to interview Verve Group’s CEO, Remco Westermann.

Verve Group
Press release3/10/2026, 12:00 PM

Verve Group lanserar branschens första lösning för målgruppsstyrning baserad på avsiktsdata från stora LLM-miljöer

Verve Group
Press release3/10/2026, 12:00 PM

Verve Group launches industry-first targeting capability activating conversational intent signals from major LLM environments

Verve Group

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Analytikerintervju: HomeMaid, Starbreeze och Verve25:38
Video2/25/2026, 7:10 AM by
Jesper Hagman, Christoffer Jennel

Analytikerintervju: HomeMaid, Starbreeze och Verve

HomeMaid, Starbreeze och Verve har alla släppt sina siffror för det fjärde kvartalet 2025. Varför fortsätter problemen kring PAYDAY 3, hur ska HomeMaid växa utan att tumma på marginalerna och varför oroar analytiker Christoffer sig för Verves svaga kassaflöden? Svaren får du i denna analytikerintervju.

HomeMaidStarbreezeVerve Group
Verve Q4'25: Burden of proof remains on cash flows
Research2/20/2026, 7:02 AM by
Christoffer Jennel

Verve Q4'25: Burden of proof remains on cash flows

The detailed cash flow statement reinforced our concern about weak cash flows, which continue to challenge our investment thesis.

Verve Group
Verve Q4’25 flash comment: Strong retention rate, but cash flows disappoint
Analyst Comment2/19/2026, 6:56 AM by
Christoffer Jennel

Verve Q4’25 flash comment: Strong retention rate, but cash flows disappoint

Management noted that a stronger emphasis on liquidity management in 2026, aiming to notably reduce working capital impacts on future growth and improve cash conversion.

Verve Group
Press release2/19/2026, 5:00 AM

Verve Group visar accelererad kundtillväxt under fjärde kvartalet 2025 tack vare riktade investeringar i utökad säljorganisation

Verve Group
Press release2/19/2026, 5:00 AM

Verve Group shows accelerated new customer growth in Q4 2025, leveraging targeted investments in sales force expansion

Verve Group
Verve Q4'25 preview: Strong margins overshadowed by weak cash flows
Analyst Comment2/17/2026, 6:15 AM by
Christoffer Jennel

Verve Q4'25 preview: Strong margins overshadowed by weak cash flows

The company has already released preliminary figures for the quarter and guidance for 2026, which reveal a mixed picture of the business's current trajectory.

Verve Group
Press release2/4/2026, 1:14 PM

Verve Group SE Successfully Places Subsequent Senior Unsecured Bonds of EUR 50 million

Verve Group
Verve Group: Exploring a 50 MEUR bond tap
Analyst Comment2/2/2026, 7:40 AM by
Christoffer Jennel

Verve Group: Exploring a 50 MEUR bond tap

Verve announced this morning its intention to issue 50 MEUR in subsequent bonds, which the company states is aimed at strengthening liquidity and capitalizing on current business momentum.

Verve Group
Press release2/2/2026, 6:30 AM

Verve Group SE Announces Intention to Issue Subsequent Bonds to Capitalize on Business Momentum Following Strong Q4 Performance

Verve Group
Press release1/28/2026, 12:04 PM

Verve Group publishes LinkedIn case study validating demand-side growth strategy in privacy-first mobile advertising

Verve Group
Verve: Patience tested as cash flows continues to lag
Research1/27/2026, 6:54 AM by
Christoffer Jennel

Verve: Patience tested as cash flows continues to lag

Q4 revenue fell short of guidance and our estimates, but the adjusted EBITDA margin was better than expected at 25%.

Verve Group
Regulatory press release1/26/2026, 1:15 PM

Verve Group SE levererar starkt operativt resultat under fjärde kvartalet 2025, driver organisk tillväxt och bruttomarginalökning, och publicerar finansiell prognos för 2026

Verve Group
Regulatory press release1/26/2026, 1:15 PM

Verve Group SE delivers strong operational performance in Q4 2025, driving organic growth and gross margin expansion, and publishes financial guidance for 2026

Verve Group
Press release1/22/2026, 6:05 PM

Verve Group Unifies Jun Group and Captify US Under Verve For Advertisers, Reinforcing its Strategy for Brands and Agencies

Verve Group
A sit-down with CEO Remco Westermann37:35
Video12/12/2025, 8:09 AM by
Christoffer Jennel

A sit-down with CEO Remco Westermann

In this interview, we sit down with Verve Group’s CEO Remco Westermann reflecting on 2025 and the path forward.

Verve Group
Regulatory press release12/9/2025, 7:50 PM

Verve Group omklassificerar uppskjuten köpeskilling med betalningsneutrala justeringar i kassaflödesanalysen för Q3 2025

Verve Group
Regulatory press release12/9/2025, 7:50 PM

Verve Group reclassifies deferred purchase price payment resulting in cash-neutral adjustments in the Q3 2025 cash flow statement

Verve Group
Forum discussions
Hello everyone! The interview with Remco has now been published. Great job @christoffer.jennel You can find it here: Inderes Behind the numbers: Verve Group CEO reflects on Q4 - Inderes Time: 2026-03-20 14:31 We had the opportunity to interview Verve Group’s CEO, Remco Westermann...
3/20/2026, 1:34 PM
by Jesper Hagman
17
Hi everyone! I have now received confirmation that there will be a new interview with Remco next week. If you have any questions, please feel free to ask them here by replying to this post. Please send these by Monday, March 16th, at the latest. I will try to include as many questions...
3/11/2026, 7:52 AM
by Christoffer Jennel
17
(Imagine some cheerful music here) Buy when the insiders buy Nordnet Nordnet Tee säästämisestä osakkeisiin & rahastoihin hauskempaa. Sijoittaminen osakkeisiin, rahastoihin ja ETF:iin ilman tarpeettomia kuluja. Tervetuloa Suomen tyytyväisimpien sijoittajien joukkoon! Avaa tili jo ...
3/10/2026, 2:11 PM
by Geologiopiskelija
14
Considering the summer’s share issue, autumn’s acquisitions, platform integrations, indebtedness and high interest expenses, as well as the weak cash flow conversion, one could ask whether it is now the time for Verve to digest its debt load and if Remco believes the entity is “ready...
3/13/2026, 3:04 PM
by yellowbeak
11
Hello! Yes, the interview was conducted today, and I’ll publish it shortly.
3/20/2026, 1:06 PM
by Jesper Hagman
10
Remco shopping. STOCKHOLM (Nyhetsbyrån Direkt) Verve’s CEO and major shareholder Remco Westermann has purchased approximately 32 thousand shares in the ad-tech company in a transaction worth half a million kronor. This is stated in the Swedish Financial Supervisory Authority’s (Finansinspe...
3/12/2026, 7:55 AM
by Uuno
9
Expansion into other markets. How can Verve’s platforms adapt to markets other than the US? The weight of the US in the business is so significant that one might hope that, over time, the relative weight of the US can be brought down by growing in new markets (preferably, of course...
3/11/2026, 11:38 AM
by Geologiopiskelija
9
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