TradeDoubler (TRAD) investor relations material

Executive summary

• Revenue grew 1% year-over-year to SEK 538M, or 6% adjusted for currency, with gross profit at SEK 117M, up 4% currency-adjusted, and gross margin at 21.7%.

• Adjusted EBITDA was SEK 23M, down 10% year-over-year, mainly due to lower Partner Marketing margins and restructuring costs.

• Strategic repositioning underway, including a proposed renaming to Nyorda AB and a portfolio approach with new growth engines like Emna.ai and Bridge Retail Media.

Financial highlights

• Operating costs excluding depreciation rose 12% to SEK 105M, driven by SEK 10M in one-time restructuring costs from layoffs affecting 25 positions; annual savings of SEK 17M expected.

• Net profit was SEK -5M (down from SEK 12M), with EPS at SEK -0.08 (0.20).

• Cash flow from operating activities was SEK -20M, impacted by working capital movements; net cash at quarter-end was SEK 51M.

• Investments in intangible assets, mainly product development, totaled SEK 9M.

Outlook and guidance

• Business momentum improved after a slow January, with February and March showing recovery.

• Focus remains on strengthening profitability in core Partner Marketing and scaling new growth areas, aiming for long-term EBITDA/gross profit margin above 25%.