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Inderes operates in the financial industry. The company provides a community platform for investors and listed companies. Via the platform, users can communicate with each other and exchange investment tips. The customers consist of both companies and private individuals. In addition, the company offers analysis services and a basis for investment decisions. The largest operations are in the Nordic region.
Inderes' sales grew by 5% in October, in line with our estimate. The growth was driven by Software and Research, while the company notes flat y/y sales in project revenue, i.e. events. All in all, well in accordance with our estimates and thus our read is neutral.
Inderes is expected to release its January to September 2026 Business Review on October 27, 2026. Inderes CEO Mikael Rautanen will present the results in a live online event on the same day at 13:00 CET, where you will also have the opportunity to ask questions.
Inderes’s Q3 sales came in line with our estimates, while EBITA was 4% above our estimate thanks to lower slightly lower personnel costs. However, the soft spot of the report is the slower-than-expected development of international sales (read Sweden). Also the number of research contracts stayed flat q/q and was slightly below our estimate, indicating our Q4 sales estimate of 9% may be slightly optimistic.
