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Verve Group

16.50 SEK

+3.19 %

1,280 following
Corporate customer

VER

First North Stockholm

Software

Technology

Overview
Financials & Estimates
Ownership
Investor consensus
Compare
+3.19 %
+3.97 %
-23.61 %
-12.70 %
-32.38 %
-45.72 %
+15.22 %
-62.50 %
+18.28 %

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.

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Market cap
3.3B SEK
Turnover
5.7M SEK
P/E (adj.) (26e)
4.97
EV/EBIT (adj.) (26e)
6.25
P/B (26e)
0.66
EV/S (26e)
1.07
Dividend yield-% (26e)
-
Coverage
Recommendation
Accumulate
Target price
18.00 SEK
Updated
08.04.2026
Disclaimer
 Christoffer Jennel
Christoffer Jennel

Analyst

Latest research

Latest analysis report

Released: 08.04.2026

Latest extensive report

Released: 08.04.2026

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
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3rd party
ShowingAll content types
Verve Group extensive report: Eyes on execution and cash flows
Extensive research4/8/2026, 5:15 AM by
Christoffer Jennel

Verve Group extensive report: Eyes on execution and cash flows

In our view, the investment case hinges on management proving it can convert a higher share of its profits into cash, sustain operational improvements, and deliver on 2026 guidance.

Verve Group
Regulatory press release3/31/2026, 2:30 PM

Verve Group intends to relocate registered office to Ireland aligning corporate structure with international and US peers

Verve Group
Press release3/31/2026, 8:48 AM

Verve Group SE invites investors, analysts and media to its upcoming Capital Markets Day 2026 in New York

Verve Group

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Behind the numbers: Verve Group CEO reflects on Q438:26
Video3/20/2026, 1:31 PM by
Christoffer Jennel

Behind the numbers: Verve Group CEO reflects on Q4

We had the opportunity to interview Verve Group’s CEO, Remco Westermann.

Verve Group
Press release3/10/2026, 12:00 PM

Verve Group launches industry-first targeting capability activating conversational intent signals from major LLM environments

Verve Group
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 Group
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.

Verve Group
Press release2/19/2026, 5:00 AM

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

Verve Group
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.

Verve Group
Press release2/4/2026, 1:14 PM

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

Verve Group
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.

Verve Group
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

Verve Group
Press release1/28/2026, 12:04 PM

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

Verve Group
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%.

Verve Group
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

Verve Group
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

Verve Group
A sit-down with CEO Remco Westermann37:35
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.

Verve Group
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

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

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

Verve Group
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 Group
Forum discussions
Hello everyone! The interview with Remco has now been published. Great job @christoffer.jennel You can find it here: Inderes Behind the numbers: Verve Group CEO reflects on Q4 - Inderes Time: 2026-03-20 14:31 We had the opportunity to interview Verve Group’s CEO, Remco Westermann...
3/20/2026, 1:34 PM
by Jesper Hagman
19
Considering the summer’s share issue, autumn’s acquisitions, platform integrations, indebtedness and high interest expenses, as well as the weak cash flow conversion, one could ask whether it is now the time for Verve to digest its debt load and if Remco believes the entity is “ready...
3/13/2026, 3:04 PM
by yellowbeak
11
Hello! Yes, the interview was conducted today, and I’ll publish it shortly.
3/20/2026, 1:06 PM
by Jesper Hagman
10
This is the bulletin that came out: “Verve Group intends to relocate registered office to Ireland aligning corporate structure with international and US peers” In addition, reporting will be in USD going forward, and the bulletin laid the groundwork for a potential official listing...
3/31/2026, 3:27 PM
by Geologiopiskelija
7
It seems the tax rate is around 12.5% in Ireland with various incentives (e.g. R&D), versus over 20% in Sweden, according to AI. USD reporting and a potential US listing sound good, assuming the business performs as expected. Perhaps then the valuation multiples would start to look...
3/31/2026, 4:28 PM
by yellowbeak
5
The figures for P/E have always been low in this company whenever I’ve followed it, but a credible cash flow conversion is yet to be seen.
4/8/2026, 8:48 AM
by Farseer
3
Inderes Verve Group laaja raportti: Katseet toteutuksessa ja kassavirrassa - Inderes Näkemyksemme mukaan sijoitustarina riippuu siitä, pystyykö johto todistamaan muuntavansa suuremman osan tuloksestaan kassavirraksii, ylläpitämään operatiivisia parannuksia ja saavuttamaan vuoden ...
4/8/2026, 8:47 AM
by Gwertheney
2
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