Acast (ACAST) Q3 2025 earnings summary

Executive summary

• Achieved 35% net sales growth and 41% organic growth in Q3 2025, led by North America (58% growth) and Europe (27% growth), with EBITDA margin improving to 6% and operating margin at 2%.

• Announced new financial targets: organic net sales growth CAGR >15% (2025–2028) and EBIT margin of 10% by 2028.

• Expanded partnerships, notably with Magnite, to enhance programmatic and self-serve ad sales channels.

• North America and Europe drove most of the growth, with continued expansion in listens and ARPL.

• Completed acquisition of Wonder Media Network LLC in January 2025.

Financial highlights

• Q3 2025 net sales reached SEK 642 million, up 35% year-on-year; organic growth was 41%.

• Gross margin held steady at 39%, with gross profit up 31% to SEK 252 million.

• EBITDA margin improved to 6% (SEK 37.6–38 million), and EBIT margin reached 2% (SEK 15.9 million).

• Operating cash flow for Q3 was SEK 19.6–20 million; cash position at quarter-end was SEK 547.8–548 million.

• Earnings per share for Q3 was SEK 0.04.

Outlook and guidance

• Targeting organic net sales growth CAGR >15% and EBIT margin of 10% by 2028.

• Committed to 3–5% adjusted EBITDA margin and positive operating cash flow for full year 2025.

• Focus on scaling global operations, optimizing costs, and leveraging operational momentum for margin expansion.

• Confident in robust Q4 performance, with strong year-to-date momentum.