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
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

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
    }
    ... 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
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      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
    }
  }
}


mgi-challenging-market-leads-lower-revenues

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Anton Damstén

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.

I’ll see what we can arrange! I believe this is also in the company’s interest, i.e., to improve communication with investors, so hopefully, this can become a recurring thing going forward.

Hi @Putti! Thanks, glad it’s appreciated! @Geologiopiskelija is touching on some of the underlying factors, and in addition to that, I can also add that Verve’s change in revenue recognition, which was communicated in Q3, also affects the revenue increase in 2026, but should be seen as artificial as it does not impact the result. Adjusted for the effects of the changed revenue recognition, we estimate a revenue increase of 18%, of which 9% is organic. The improvement in results is expected to be driven by a strengthened top line combined with improved cost efficiency now that the platform merger is complete. The deteriorated margins in 2025 were a combination of negative effects from the merger (lower revenues) and simultaneous scaling up of the workforce (increased costs). The development in the digital advertising market in 2026 will naturally be important for our estimated revenue growth, which in turn is largely driven by macro developments. As you all know, 2025 has been a relatively turbulent year, especially during the first half with tariffs and geopolitical unrest, a climate that creates uncertainty and thus affects advertising budgets. The second half, however, has been more stable, though relatively soft compared to last year. But as it looks now, there are conditions for a good market climate in 2026, which also includes some major events (FIFA World Cup, Olympic Winter Games, mid-term elections). Furthermore, Verve’s exposure to faster-growing segments and a strong position in privacy-first is expected to support organic growth in 2026. Furthermore, customer onboarding and maintaining high customer retention will be important for our revenue forecasts, where we want to see that the effects from the platform merger were truly temporary and have not created structural challenges for the company.

I can answer on behalf of the analyst regarding the 2026 vs 2025 question, things that everyone following the chain/company should know; in 2025, at least two quarters performed worse than anticipated due to system integrations. This problem will no longer exist on a similar scale in 2026, meaning there will be “weak comparison periods,” whereas this year faced very strong 2024 comparison periods. Secondly, the advertising market should be stronger in 2026 than in 2025, assuming nothing revolutionary (again) happens. US election years are stronger than non-election years. +Known acquisitions made in 2025, unless that 29% was the analyst’s organic growth forecast. I wouldn’t believe in such strong organic growth, even though the company has historically been capable of it.

@christoffer.jennel Thanks for a very good video interview👍 You expect Verve’s revenue to grow by around 29% in 2026 and that the result will improve significantly compared to 2025. What are the 2–3 most concrete things driving this development, and what makes 2026 so much better than 2025? And finally: which assumption in your forecast is the most sensitive if something doesn’t go as planned?

The questions were really well formulated, the answers were also good, and this was a clear relief for the market. Many investors had many unanswered questions, to which good answers were now provided. Could you make this a tradition, having a short interview after every quarter? However, ensuring a certain depth is maintained, meaning it doesn’t have to be immediately after the results, but perhaps a week later, allowing time to calmly digest the results and ask more in-depth questions. The forum here would also gladly submit questions. This would also improve the company’s communication with the market, as many investors do not listen to the Q&A section after the results. Today’s interview was a clear demonstration of the concept working, and both the company and investors benefited from it.

Good set and special thanks to Christoffer, well done!

Hi everyone! We have just published a longer interview with CEO Remco Westermann. Hope you enjoy it!                   Inderes              A sit-down with CEO Remco Westermann - Inderes    Time: 2025-12-12 09:09 In this interview, we sit down with Verve Group’s CEO Remco Westermann reflecting on 2025 and the path forward.

Verve Group

MGI’s Q2 revenues came in lower than expected, while operating profit was in line with our estimates. MGI decided to lower its guidance for 2023 due to a more challenging market environment. Operating cash flow improved compared to last quarter and should improve further as the year continues. Despite the challenging short-term outlook, MGI has maintained good operating margins. As highlighted in yesterday’s CMD, MGI is well-positioned to capture further market share and we see a clear upside in the low valuation as ad spending picks back up.

<p>MGI’s Q2 revenues came in lower than expected, while operating profit was in line with our estimates. MGI decided to lower its guidance for 2023 due to a more challenging market environment. Operating cash flow improved compared to last quarter and should improve further as the year continues. Despite the challenging short-term outlook, MGI has maintained good operating margins. As highlighted in yesterday’s CMD, MGI is well-positioned to capture further market share and we see a clear upside in the low valuation as ad spending picks back up.</p> 

	2022	23e	24e
Revenue	324.4	303.9	321.3
growth-%	28.7 %	-6.3 %	5.7 %
EBIT (adj.)	76.6	74.1	69.4
EBIT-% (adj.)	23.6 %	24.4 %	21.6 %
EPS (adj.)	0.19	0.18	0.15
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	9.2	8.7	10.4
EV/EBITDA	6.4	6.1	5.7

MGI: Challenging market leads to lower revenues

Key Estimate Figures2023-09-01

Forum discussions