Acast (ACAST) Q4 2025 earnings summary

Executive summary

• Achieved 29% year-over-year net sales growth to SEK 2,516.9m, with North America up 60% and now the largest market, driven by strong podcast ad demand and strategic acquisitions.

• Delivered first-ever full-year positive adjusted operating profit and cash flow, marking a significant milestone in scalability and operational leverage.

• Expanded global footprint through strategic acquisitions in Germany and the US, and exclusive partnerships in France.

• Relisted on Nasdaq Stockholm's main market in November 2025, signaling maturity and growth.

• CEO transition in June 2025 and new CFO appointed in January 2026.

Financial highlights

• Q4 net sales rose 27% year-over-year to SEK 732.6m, with organic growth at 31%.

• Full-year revenue reached SEK 2.5 billion, up 29% from last year.

• Q4 adjusted EBITDA margin reached 9%; adjusted EBIT margin 6%.

• Full-year adjusted EBITDA margin 5%; adjusted EBIT margin positive at 1%.

• Operating cash flow for Q4 was SEK 67m; full-year operating cash flow SEK 62m; year-end cash position SEK 589m.

Outlook and guidance

• New financial targets: organic net sales CAGR above 15% for 2025–2028 and EBIT margin of 10% by 2028.

• Entering 2026 with a strong market position, proven scalable model, and focus on further US and European expansion.