Greenmerc (GMERC) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in trading volume and revenue, with a 156% increase in net sales year-over-year for Q3 2025.

• Strategic investments in technology, regulatory compliance, and product development to support transition toward a full-service fintech and digital bank.

• Customer base reached 74,226, now defined as customers with full KYC and access to all regulated services.

Financial highlights

• Q3 2025 trading volume: 200 MSEK (up from 79 MSEK year-over-year).

• Net sales: 6.85 MSEK (2.67 MSEK), up 156% year-over-year; gross profit: 7.99 MSEK (3.46 MSEK), up 131%.

• Adjusted EBITDA: 3.06 MSEK (0.68 MSEK); adjusted net income after tax: 0.54 MSEK (0.54 MSEK).

• Adjusted operating cash flow: 1.85 MSEK (0.66 MSEK); period cash flow: 0.40 MSEK (-2.57 MSEK).

• For Jan–Sep 2025: net sales 21.16 MSEK (10.99 MSEK), gross profit 23.76 MSEK (13.36 MSEK), adjusted EBITDA 8.52 MSEK (4.61 MSEK).

Outlook and guidance

• Continued investments in technology, compliance, and product innovation to support growth and regulatory ambitions.

• Crowdfunding market in Europe expected to grow at a 17.4% CAGR through 2030, supporting expansion plans.

• Focus on building a comprehensive ecosystem combining capital, payments, and investments.