RugVista Group (RUG) Q3 2025 earnings summary

Executive summary

• Net revenue for Q3 2025 increased by 15.1% year-over-year to SEK 167 million, with organic growth at 18.4%.

• Order count grew by 19.4% to 80.6K, with 57,000 new customers, a 16% increase from last year.

• EBIT reached SEK 12 million (7.2% margin), including SEK 2 million in moving costs.

• Major warehouse and office relocation completed, investing SEK 43–45 million in fixed assets.

• Trustpilot score remained high and stable (4.6–4.7) despite operational changes.

Financial highlights

• Gross margin for Q3 was 63.4%, up from 62.4% the previous year.

• EBIT margin improved to 7.2% from 6.2% year-over-year.

• Marketing spend as a percentage of revenue was nearly flat at 29.9%.

• Cash flow from operating activities increased, with net cash at SEK 180.5 million at period end.

• Inventory as a percentage of LTM net revenue was 19.4%, within target range.

Outlook and guidance

• Entering Q4 with strong momentum but facing tougher year-over-year comparables and ongoing currency headwinds.

• Management confident in growth trajectory but refrains from quantifying double-digit order growth for 2026.

• Marketing investments expected to rise in coming quarters due to seasonality and increased competition.