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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Strong start to the year improves outlook

VERResearch2024-03-21 08:01
Anton DamsténAnalyst
Discuss
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Yesterday, MGI announced that its organic growth rate has increased to 25% in February 2024. This follows an earlier announcement of an 18% organic growth rate in January 2024. The robust organic growth rate is a strong start to the year and leads us to raise our revenue estimates. As the outlook continues to improve, we believe the risk-to-reward ratio remains very attractive.

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.

Read more on company page

Key Estimate Figures2024-03-21

202324e25e
Revenue322.0366.8399.9
growth-%-0.8 %13.9 %9.0 %
EBIT (adj.)76.981.076.9
EBIT-% (adj.)23.9 %22.1 %19.2 %
EPS (adj.)0.150.170.19
Dividend0.000.000.00
Dividend %
P/E (adj.)6.87.97.1
EV/EBITDA3.65.25.1

Forum discussions

My hunch is that Verve will post strong Q2 numbers. The FIFA World Cup has had an impact here; if you dig a little, quite a few FIFA sponsors...
8/7/2026, 6:32 AM
by Velkku
8
We have also seen strong second quarters from the adtech sector, so the weakness has at least been in Trade Desk’s own performance.
8/7/2026, 6:14 AM
by Putti
3
I don’t know how direct a competitor The Trade Desk is to Verve… either they are anticipating weakness in the entire ad market for Q2, or competitors...
8/7/2026, 4:56 AM
by Geologiopiskelija
2
Verve Wins 2026 ADWEEK Tech Stack Award for Mobile Product/Platform Award recognizes Verve’s mobile performance platform following successful...
8/4/2026, 10:12 AM
by Velkku
12
Is the market expecting bankruptcy for the company, or a highly dilutive share issue? According to Inderes’ estimates, next year’s P/E is 4....
7/9/2026, 1:55 PM
by Putti
7
I am ready to agree with you. I thought he was quite quick to respond with the benefits and the reasoning behind the rationale.
7/3/2026, 9:42 AM
by Jesper Hagman
1
Verve says it built its Retail Media business in Germany in about 10 months and now wants to replicate this in the U.S. My understanding is ...
7/1/2026, 12:49 PM
by Valerio Ferruggia
3