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Verve Group

14.97 SEK

+0.54 %

1,282 following
Corporate customer

VER

First North Stockholm

Software

Technology

Overview
Financials & Estimates
Ownership
Investor consensus
Compare
+0.54 %
+9.83 %
-20.79 %
-17.16 %
-33.88 %
-61.71 %
-18.64 %
-61.91 %
+7.31 %

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
3B SEK
Turnover
1.24M SEK
P/E (adj.) (26e)
4.53
EV/EBIT (adj.) (26e)
6.02
P/B (26e)
0.6
EV/S (26e)
1.03
Dividend yield-% (26e)
-
Coverage
Recommendation
Buy
Target price
20.00 SEK
Updated
20.02.2026
Disclaimer
 Christoffer Jennel
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
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Press releases
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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 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

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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
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 Group
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

Verve Group
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

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

Verve Group SE: Appointment of Nomination Committee

Verve Group
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.

Verve Group
Forum discussions
Hi @yellowbreak! Thanks for your questions and sorry for the delay, it’s been a busy few days. 1. The company provided a bit more detail on this during their last earnings call; I’m attaching an image below from their presentation. So currently, the program is up to 100 MEUR and ...
2/23/2026, 1:36 PM
by Christoffer Jennel
22
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
15
Nordnet Nordnet Tee säästämisestä osakkeisiin & rahastoihin hauskempaa. Sijoittaminen osakkeisiin, rahastoihin ja ETF:iin ilman tarpeettomia kuluja. Tervetuloa Suomen tyytyväisimpien sijoittajien joukkoon! Avaa tili jo tänään! The report is out. I haven’t had time to read anything...
2/19/2026, 6:57 AM
by Geologiopiskelija
13
Well, this was reacted to quickly; clearly, the forum is being read at Verve.
2/24/2026, 7:48 PM
by Kootteri
9
The Q4/25 operating result was good, but cash flow was weak because payments only arrive after 90 days. Doesn’t this mean that Q1/26 cash flow should be correspondingly strong once the Q4/25 payments hit the company’s account? Or could the loss of that one major customer have such...
2/24/2026, 10:53 AM
by Juhani
8
Analyst’s quick comment: Verve Q4’25 quick comment: Strong customer retention, but cash flow caused disappointment - Inderes A couple of questions for @christoffer.jennel regarding this section of the company’s report, if you can shed some light, as cash flow is the crux of the matter...
2/19/2026, 7:55 AM
by yellowbeak
7
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
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