WebRock Ventures (WRV) Q3 2025 earnings summary

Executive summary

• Net Asset Value (NAV) reached SEK 268.5 million as of September 30, 2025, up 1.5% quarter-over-quarter and 4.0% year-to-date.

• NAV per share increased to SEK 12.7 from SEK 12.5 in the previous quarter.

• Operating profit for Q3 2025 was SEK 4.0 million, a turnaround from a loss of SEK -8.4 million in Q3 2024.

• Management transition: founders departed, Christian Manhusen appointed CEO.

• Portfolio streamlined to focus on two core holdings: Lara Finance Group and Olik.

Financial highlights

• Net profit for Q3 2025 was SEK 4.0 million, compared to a loss of SEK -8.5 million in Q3 2024.

• Profit per share for Q3 2025 was SEK 0.2, up from SEK -0.4 in Q3 2024.

• Portfolio value at quarter-end was SEK 259.0 million; cash and cash equivalents were SEK 7.7 million.

• No new investments made during the quarter (SEK 0.0 million vs. SEK 2.3 million in Q3 2024).

Outlook and guidance

• Focus remains on compounding value per share and narrowing the gap between market value and NAV.

• Continued momentum expected in Q4, with both Lara and Olik showing strong growth trajectories.