contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Anton Damstén

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.

In connection with that bond release, there was a mention of upcoming IR meetings, which also had entries for yesterday and today:  It would be quite interesting to know what was asked/answered there  I suppose @christoffer.jennel wasn’t among the participants either?

Personally, I would have expected an announcement by now regarding the bond issuance and especially the pricing. Usually, these are well-prepared in advance and then handled quickly so that the matter doesn’t linger in the background. I interpret the duration of the process and the share price performance over the last few days as indicating that there hasn’t been much demand for this bond, at least at the price Verve was hoping for. Based on the share price chart for the last hour or so, one could imagine the bond is now finalized, so we’ll wait for the announcement.

I don’t think this has been posted here yet. I came across a relatively recent video featuring an interview (in German) with Verve’s “Head of Investor Relations” Ingo Middelmenne. From 4:00 onwards, there’s a rather unusual comment regarding market positions in the Android environment.

Sharing similar thoughts and have been an owner for just as long. I’ve bought the dips and trimmed during rallies. Now there is quite a strong overreaction in the air again, so I have added to my position somewhat over the past few days. About the company in general: in my opinion, the tech stack (i.e., the advertising platform & integrations) is still strong, but there are problems particularly in sales (i.e., customer acquisition) and certainly to some extent also in the company’s top management. The company’s background (before the shift to ad-tech) was in merging smaller gaming firms and benefiting from the long tail of their already released games (i.e., the so-called end-of-life monetization). At that time, it was quite logical that organic growth was not the focus and growth came practically through acquisitions. However, after the strategy shift, this should no longer continue; instead, acquisitions should aim for better synergies and organic growth. As I understand it, that platform should be an attractive target for acquisitions, so I wouldn’t be surprised if (also public) offers to shareholders emerge soon. But until this happens, or we see organic growth and improved profitability, the stock is unlikely to take off in the same way as in 2020–2021 and 2024.

You just have to keep buying resolutely when it’s cheap, but at the same time try to keep the position size small because we don’t know how low we’ll go yet. I’ve also been thinking that in a worst-case scenario, it might find new momentum as low as the 10 SEK level. Fortunately, I haven’t built a larger position in the company yet, as I’ve been waiting for further disappointments and better buying opportunities.

I believe quite strongly that the share price will go and test the previous 10 SEK (2023) lows. I’m no technical analysis expert, but I’d guess quite a few others think so too, so there probably won’t be much of a crowd on the buy side before that level. Verve as a company has developed a lot since then, and the business is on a much stronger footing / less fragmented than it was then, but Verve’s share price has bounced up and down throughout practically its entire history (revenue grows fairly steadily, profit fluctuates with conditions) without ever being absolutely expensive. I’ve been a shareholder since sometime in 2021/2022 and diamond-handed through the entire decline back then, and I intend to do the same now (at some point I trimmed a little, but at these prices and with this information I’m not trimming) as I consider the decline to be mainly just panic and I believe I know the company better than the average “paper hands” investor who has only owned the stock during the current “falling knife part two”  . Let it drop another -50% for no significant reason / due to one-off reasons, I’ll hold until something comes to light that actually affects my assessment of the company’s long-term potential. The 2021 (started in late 2020) and 2024 rocketing/peaks aren’t fully comparable, as the company structure has changed significantly in the interim + the COVID recovery, but I’m almost certain that at some point the share price will rocket hundreds of percent again in a short time when conditions are favorable and, funny enough, market sentiment will shift back to the opposite of what it is now, and I wouldn’t be surprised if those conditions occur next ahead of the 2028 US elections  .

I pulled the trigger yesterday at 14.7, thinking that this was it. Previous buys at the 25 and 17 levels. I wonder if my hands will get cut? Indeed, the story and all the “fundamentals” are in place in my opinion. So what’s the hitch? Probably something that hasn’t been disclosed.

Verve Group

MGI’s Q3 revenues declined as expected, while adjusted operating profit fell short of our expectations due to higher
operating costs than estimated. MGI reiterated its guidance of lower revenues in 2023 due to a challenging market
environment.

<p>MGI’s Q3 revenues declined as expected, while adjusted operating profit fell short of our expectations due to higher operating costs than estimated. MGI reiterated its guidance of lower revenues in 2023 due to a challenging market environment. During the quarter, MGI increased its market share further, and we believe MGI is well-positioned to continue to do so. We, therefore, see a clear upside in the low valuation as ad spending recovers. We recognize the possibility that the recovery might take longer than expected, which could impede the stock's performance until the outlook improves.</p> 

	2022	23e	24e
Revenue	324.4	303.0	312.0
growth-%	28.7 %	-6.6 %	3.0 %
EBIT (adj.)	76.6	74.4	63.0
EBIT-% (adj.)	23.6 %	24.5 %	20.2 %
EPS (adj.)	0.19	0.14	0.11
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	9.1	8.4	11.1
EV/EBITDA	6.4	3.9	5.9

Tough market environment persisting

Key Estimate Figures01.12.2023

Forum discussions