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Verve Group

16.25 SEK

-0.61 %

1,282 following

VER

First North Stockholm

Software

Technology

Overview

Financials & Estimates

Ownership

Investor consensus

-0.61 %

+14.60 %

-14.02 %

-9.47 %

-24.49 %

-58.23 %

-8.91 %

-57.57 %

+16.49 %

Verve (Ticker: VER) is a fast-growing, profitable, digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with the mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe. Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market.

Market cap

3.25B SEK

Turnover

9.26M SEK

P/E (adj.) (26e)

EV/EBIT (adj.) (26e)

P/B (26e)

EV/S (26e)

Dividend yield-% (26e)

Coverage

Recommendation

Buy

Target price

Updated

20.02.2026

Christoffer Jennel

Analyst

Latest research

Latest analysis report

Released: 20.02.2026

Latest extensive report

Released: 05.07.2024

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar

13.5.

2026

General meeting '26

20.5.

2026

Interim report Q1'26

18.8.

2026

Interim report Q2'26

Risk

Business risk

Valuation risk

Low

High

All

Research

Webcasts

Press releases

3rd party

ShowingAll content types

Verve Q4'25: Burden of proof remains on cash flows

Research2/20/2026, 7:02 AM by

Christoffer Jennel

Verve Q4'25: Burden of proof remains on cash flows

The detailed cash flow statement reinforced our concern about weak cash flows, which continue to challenge our investment thesis.

Verve Q4’25 flash comment: Strong retention rate, but cash flows disappoint

Analyst Comment2/19/2026, 6:56 AM by

Christoffer Jennel

Verve Q4’25 flash comment: Strong retention rate, but cash flows disappoint

Management noted that a stronger emphasis on liquidity management in 2026, aiming to notably reduce working capital impacts on future growth and improve cash conversion.

Press release2/19/2026, 5:00 AM

Verve Group shows accelerated new customer growth in Q4 2025, leveraging targeted investments in sales force expansion

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Model portfolio

Verve Q4'25 preview: Strong margins overshadowed by weak cash flows

Analyst Comment2/17/2026, 6:15 AM by

Christoffer Jennel

Verve Q4'25 preview: Strong margins overshadowed by weak cash flows

The company has already released preliminary figures for the quarter and guidance for 2026, which reveal a mixed picture of the business's current trajectory.

Press release2/4/2026, 1:14 PM

Verve Group SE Successfully Places Subsequent Senior Unsecured Bonds of EUR 50 million

Verve Group: Exploring a 50 MEUR bond tap

Analyst Comment2/2/2026, 7:40 AM by

Christoffer Jennel

Verve Group: Exploring a 50 MEUR bond tap

Verve announced this morning its intention to issue 50 MEUR in subsequent bonds, which the company states is aimed at strengthening liquidity and capitalizing on current business momentum.

Press release2/2/2026, 6:30 AM

Verve Group SE Announces Intention to Issue Subsequent Bonds to Capitalize on Business Momentum Following Strong Q4 Performance

Press release1/28/2026, 12:04 PM

Verve Group publishes LinkedIn case study validating demand-side growth strategy in privacy-first mobile advertising

Verve: Patience tested as cash flows continues to lag

Research1/27/2026, 6:54 AM by

Christoffer Jennel

Verve: Patience tested as cash flows continues to lag

Q4 revenue fell short of guidance and our estimates, but the adjusted EBITDA margin was better than expected at 25%.

Regulatory press release1/26/2026, 1:15 PM

Verve Group SE delivers strong operational performance in Q4 2025, driving organic growth and gross margin expansion, and publishes financial guidance for 2026

Press release1/22/2026, 6:05 PM

Verve Group Unifies Jun Group and Captify US Under Verve For Advertisers, Reinforcing its Strategy for Brands and Agencies

A sit-down with CEO Remco Westermann

37:35

Video12/12/2025, 8:09 AM by

Christoffer Jennel

A sit-down with CEO Remco Westermann

In this interview, we sit down with Verve Group’s CEO Remco Westermann reflecting on 2025 and the path forward.

Regulatory press release12/9/2025, 7:50 PM

Verve Group reclassifies deferred purchase price payment resulting in cash-neutral adjustments in the Q3 2025 cash flow statement

Regulatory press release11/28/2025, 7:00 PM

Verve Group SE: Number of Shares and Votes in Verve Group SE

Regulatory press release11/19/2025, 8:00 PM

Verve Group SE announces that the total number of shares of the company increases following the issuance of new shares to service parts of the employee stock option program

Verve Q3'25: Investor trust put to test

Research11/19/2025, 7:12 AM by

Christoffer Jennel

Verve Q3'25: Investor trust put to test

Following the Q3 report, we have made downward adjustments to our estimates.

Verve Q3’25 flash comment: Results below expectations though customer base remains intact

Analyst Comment11/18/2025, 7:49 AM by

Christoffer Jennel

Verve Q3’25 flash comment: Results below expectations though customer base remains intact

Verve's Q3 results fell short of our expectations

Regulatory press release11/18/2025, 5:00 AM

Verve Group SE remains on track for full year guidance in third quarter and records strong start into fourth quarter 2025

Regulatory press release11/13/2025, 6:30 PM

Verve Group SE: Appointment of Nomination Committee

Verve Q3'25 preview: Pace of recovery and customer base in focus

Analyst Comment11/13/2025, 4:45 PM by

Christoffer Jennel

Verve Q3'25 preview: Pace of recovery and customer base in focus

We expect the company to show flat organic growth, reflecting both the ongoing recovery from the SSP platform unification challenges that impacted Q2 and significantly tougher year-on-year comparisons.

Forum discussions

VERVE GROUP: CEO AND MAJOR OWNER HAVE PURCHASED SHARES FOR SEK 4.2 MILLION (OMS) Nordnet Nordnet Tee säästämisestä osakkeisiin & rahastoihin hauskempaa. Sijoittaminen osakkeisiin, rahastoihin ja ETF:iin ilman tarpeettomia kuluja. Tervetuloa Suomen tyytyväisimpien sijoittajien joukkoon...

3/6/2026, 10:11 AM

by Geologiopiskelija

18

STOCKHOLM (Nyhetsbyrån Direkt) Digital media company Verve’s CEO and largest owner Remco Westermann has on Tuesday, via the company Bodhivas, purchased 258,450 shares at a price of 1.18 euros in a transaction worth nearly 3.3 million SEK. This is stated in the Swedish Financial Supervisory...

2/24/2026, 7:25 PM

by Salkkumies

16

Intellego’s CEO was buying as well. I’ve come to the conclusion that when it comes to Sweden, insider buys don’t prove anything.

18 hours ago

by enska

11

Well, this was reacted to quickly; clearly, the forum is being read at Verve.

2/24/2026, 7:48 PM

by Kootteri

10

It’s certainly been a while since the last purchases . So one can finally expect that, for a change, no major news is coming in either direction for a while. It also confirms my own view that the market has (again) overreacted to the decline. Might have to consider topping up even...

2/25/2026, 4:28 AM

by Geologiopiskelija

5

Thumbs up for the next interview -What is the fastest path to operating cash flow consistently converting close to EBITDA levels? -By what means could you shorten customer payment terms? -In which part of the value chain do you see Verve’s AI capabilities bringing the most sustainable...

2/24/2026, 1:31 PM

by Putti

4

Not with quite as large sums, but if you scale the purchase amounts to the CEO’s total wealth, I’m not sure who would take second place in terms of buying . Edit. Looks like he picked up more shares on Friday as well; so he bought twice last week. “STOCKHOLM (News Agency Direkt) ...

14 hours ago

by Geologiopiskelija

2

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