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Research

Inderes Group - Q3: Clear miss driven by September project revenue - SEB

By SEB
Inderes
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Inderes Q3 came in below our estimates, which however were not updated after the recent profit warning. Importantly, Inderes keeps its costs wellcontrolled and we find the clear miss in EBITA owing purely to the top line delta. The reason for the softness owes to project revenue which in addition to timing continues to suffer from customers' cost measures. Software remains on growth track and the company sees signs of IPO activity taking the market back to growth.

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.

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Forum discussions

Ending the year with accelerating growth - SEB Target price of 19-21 from SEB in pre-earnings analysis.
22 hours ago
by raisinglines
16
How big of a threat (or opportunity) is AI for Inderes? Analysis Business AI streamlines the work of analysts, but is a human analyst still ...
yesterday
by Karhu Hylje
16
These have been quite relaxed, at least we aim to keep them as informal as possible! Usually, 5-10 people have shown up, mostly private investors...
yesterday
by Mikael Rautanen
28
What kind of ”public events” are your financial statement releases? I’m wondering how serious of an investor one needs to be if they intend ...
1/29/2026, 8:33 AM
7
Now things are starting to look good. We just need to ensure this new hire gets all the support they need from the company’s management; without...
1/28/2026, 5:52 PM
by Hawkmountdiver
14
Now this looks like some serious business. linkedin.com Inderes Rekrytointi Senior Sales Manager, New Accounts Helsinki | LinkedIn Lähetetty...
1/28/2026, 5:11 PM
by @TeemuHinkula
41
Financial statement preparations are currently in full swing here in Ruoholahti. Welcome to hear the Q4 announcement in person (at the Ruoholahti...
1/28/2026, 2:05 PM
by Mikael Rautanen
23
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