contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


modular-finance-ir-consensus-verve-consensus-estimates-q1-2026

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

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.

@christoffer.jennel Will you be arranging a video interview with the CEO?

In my opinion, this image makes it quite clear that the market either does not trust:  Analysts’ earnings forecasts The realization of cash flows consistent with those earnings forecasts in the near future.  It would be quite humorous if, in 2027, Verve were trading at a trailing P/E of 6-ish while the coffers were ringing in sync with earnings (cash flow conversion ~100%) and earnings simultaneously continued their annual growth.

A satisfactory report, at the very least. Other lines apparently missed forecasts slightly, but EPS beat expectations and there were no negative line items? Cash flow was good, though likely included some “one-offs” given how high it is compared to the profit lines. The amount of debt did not rise significantly from the end of 2025 levels. This is a good place to continue towards a better rest of the year. I assume the upcoming US midterm elections will be fairly intense, so election advertising should provide good support for the business, even if it isn’t as strong a boost as presidential election years. And the markets never seem to like anything Verve puts out

Inderes – 27 May 26              Verve Group Q1'26 -pikakommentti: Askel oikeaan suuntaan - Inderes    Verve raportoi Q1-lukunsa pääosin odotustemme mukaisesti vahvan operatiivisen kassavirran noustessa raportin kohokohdaksi.                             Cristoffer also wrote a quick comment, and it seems our thoughts are pretty much aligned. Based on the report, things are moving in the right direction, just as the headline suggests. This was definitely a good report for the company during a quiet quarter. The company surely has strong confidence in the upcoming major global events and the momentum of the advertising market there. The market didn’t seem to like this report at the opening, so there was enough weakness to be found, or expectations were simply higher.

Since a very large part of our revenue is invoiced in USD while we report in euros, this remains a visible factor in our reported numbers and is one reason why we aim to  adopt USD reporting by 1 January 2027, subject to AGM approval of the planned relocation to Ireland. Board proposes to relocate registered office to Ireland aligning corporate structure with international and US peers The intention to relocate the registered office from Sweden  to Ireland was announced during the quarter, marking an  important strategic step in further aligning Verve’s corporate  structure with internationally recognized and US-listed  peers. The proposed relocation is expected to simplify  access to international capital markets and strengthen the  company’s long-term strategic flexibility. In addition, the  relocation would enable the possibility of a potential future  direct US listing. Management highlighted that Ireland  offers a highly established corporate and legal framework  widely used by leading global technology and advertising  companies. The proposal remains subject to shareholder  approvals at 2026 Annual General Meeting.  The intention is to start reporting in USD as of 1 January 2027; I hadn’t noticed this myself before. And it enables a direct US listing.  Unification of Jun Group and Captify US under Verve For Advertisers In January Verve announced the unification of Jun Group  and Captify US under the brand Verve for advertisers,  marking an important milestone in the company’s strategy  to simplify its market positioning and strengthen its offering  for brands and agencies. By consolidating its demand-side  activities under a single commercial identity, Verve enhances  operational efficiency and reinforces Verve’s positioning as a  scaled alternative in the privacy-first advertising ecosystem.  The rebranding reflects the company’s long-term objective  of deepening direct relationships with global advertisers and  agency partners while leveraging its differentiated data and  AI-driven targeting capabilities.  It feels like the train is chugging along quite well on this front too. Guidance was maintained, and Inderes is currently pretty much at the lower end of the forecasts. Cash flow growth is explained:  Cash flow improved significantly compared with the prior-  year quarter, supported by solid operating performance  and more effective use of our securitization capacity.  A lower utilization of securitization in the fourth quarter  furthermore resulted in a delayed conversion of customer  receivables into cash. Consequently, these inflows shifted  into the first quarter, bolstering Q1 operating cash flow in-  stead of being realized in Q4. At the same time, the balance  sheet remains positioned to support the next phase of  growth. Net debt was virtually unchanged from year-end,  while cash and cash equivalents increased significantly.  This gives us the flexibility to continue investing while keeping  a clear focus on leverage and cash generation.  Cash balances amounted to 147.2 (123.3) €m. Net Debt as of the end of the first quarter amounted to 447.9 (375.9) €m.

So this result has finally arrived:                   Inderes              Verve Group Reports Solid Organic Growth in the First Quarter, Along with...    Verve Group Reports Solid Organic Growth in the First Quarter, Along with Strong Operating Performance and Significant Cash Flow Growth Verve Group Reports Solid Organic Growth in the First...                               Comments by the CEO  On a like-for-like basis, revenue increased to 137.2 €m. Organic growth was strong at 6.4 percent, and the inorganic contribution from recent acquisitions was even slightly higher. This shows that the underlying business continues to move forward. At the same time, we had to absorb a negative currency effect of almost 10 percent from the weaker US dollar. What matters most to me is that the quality of our revenue and platform economics continued to improve. Gross margin rose to 41 percent, clearly above the prior-year level Adjusted EBITDA of 28 €m was lower year-on-year. This development, however, does not reflect a weaker business model, it reflects a deliberate investment phase that we had already communicated in our outlook. We are investing in the areas where we see the strongest medium-term growth potential, particularly in our global sales team, where we planned additional investments of 10 €m in 2026. These costs start immediately, while new sales talent typically needs 9 to 15 months to reach full productivity. In other words: The first half of 2026 carries part of the cost of growth that we expect to translate into revenues later in the year. Cash flow improved significantly compared with the prioryear quarter, supported by solid operating performance and more effective use of our securitization capacity. A lower utilization of securitization in the fourth quarter furthermore resulted in a delayed conversion of customer receivables into cash. Consequently, these inflows shifted into the first quarter, bolstering Q1 operating cash flow instead of being realized in Q4. At the same time, the balance sheet remains positioned to support the next phase of growth. Net debt was virtually unchanged from year-end, while cash and cash equivalents increased significantly. This gives us the flexibility to continue investing while keeping a clear focus on leverage and cash generation.   Financial Guidance 2026 The Company expects revenue for fiscal year 2026 in a range of 680 – 730 €m and adjusted EBITDA in a range of 145 – 175 €m.  At a quick glance, there’s a lot of good here and money is coming in. Guidance was maintained, with confidence in H2 strength.

Here are the latest comments from Christoffer regarding Verve’s latest announcement   Verve Group announced today its retail media offering, creating a closed-loop system between mobile advertising and in-store purchases in Germany. While we view this as a logical and strategically sound expansion that leverages the point-of-sale capabilities acquired through Acardo in late 2024, we remain cautious about its near-term impact on earnings. Management has explicitly stated that the current 2026 guidance does not include any impact from this expansion, except for the modest growth already expected from the 2025 acquisitions. However, the guidance remains unchanged. Therefore, the announcement does not lead to immediate changes in our forecasts.                    Inderes – 26 May 26              Verve Group lanseeraa retail-mediatarjooman - Inderes    Vaikka pidämme laajentumista loogisena ja strategisesti järkevänä, suhtaudumme sen lähiajan taloudelliseen vaikutukseen varovaisesti.

Verve Group

Estimates compiled by Modular Finance on behalf of Verve.Number of contributors: 7 (all of which have been updated or confirmed before the report)MEUR (unless otherwise specified)Q1 2026ENet...

<div class="mfn-body"><p>Estimates compiled by Modular Finance on behalf of Verve.</p><p>Number of contributors: 7 (all of which have been updated or confirmed before the report)</p><table class="mfn-w-set"><tbody><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>MEUR (unless otherwise specified)</strong></td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>Q1 2026E</strong></td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net Revenue</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">143.6</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net Revenue growth (%)</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">31.67</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adj. EBITDA</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">29.1</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adj. EBITDA margin (%)</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">20.24</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adj. EBIT</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">18.9</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="558.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adj. EBIT margin (%)</td><td align="right" colspan="1" rowspan="1" valign="bottom" width="109.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">13.06</td></tr></tbody></table><p>Verve’s Q1 report will be released on Wednesday 27 May.</p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Attachments</strong><br><a class="mfn-generated mfn-primary" href="https://storage.mfn.se/a4b9d6b9-4f8f-454c-8a20-477e04249e7d/verve-consensus-estimates-q1-2026.pdf" rel="noopener">Verve – Consensus estimates Q1 2026</a></p></div>

MEUR (unless otherwise specified)	Q1 2026E
Net Revenue	143.6
Net Revenue growth (%)	31.67
Adj. EBITDA	29.1
Adj. EBITDA margin (%)	20.24
Adj. EBIT	18.9
Adj. EBIT margin (%)	13.06