Verve
41.7
SEK
+2.33 %
VER
First North Stockholm
Software
Technology
826 following
+2.33%
-7.33%
+13.01%
+119.47%
+256.41%
+317%
-9.35%
-
+198.92%
investors.verve.com
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.
Read moreP/E (adj.) (24e)
15.73
EV/EBIT (adj.) (24e)
10.69
P/B (24e)
1.61
Dividend yield-% (24e)
-
Target price
50.00 SEK
Recommendation
Accumulate
Updated
29.11.2024
First North Stockholm
VER
Daily low / high price
40.4 / 42.5
SEK
Market cap
7.77B SEK
Turnover
16.31M SEK
Volume
395K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Christoffer Jennel
Analyst
Major OwnersSource: Millistream Market Data AB
| Owner | Capital | Votes |
|---|---|---|
| Bodhivas GmbH | 24.4 % | 24.4 % |
| Oaktree Capital | 20.3 % | 20.3 % |
| Nordnet Pensionsförsäkring | 4.8 % | 4.8 % |
| Sterling Strategic Value Fund | 4.4 % | 4.4 % |
| Trend Finanzanalysen GmbH | 1.5 % | 1.5 % |
| PAETA Holdings | 1.2 % | 1.2 % |
| Avanza Pension | 1.0 % | 1.0 % |
| Smile Autovermietung GmbH | 0.9 % | 0.9 % |
| Anthony Gordon | 0.9 % | 0.9 % |
| Dawn Fitzpatrick | 0.9 % | 0.9 % |
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 140.2 | 252.2 | 324.4 | 322.0 | 423.0 | 521.0 | 573.2 | 624.7 |
| growth-% | 67.1 % | 79.8 % | 28.7 % | -0.8 % | 31.4 % | 23.2 % | 10.0 % | 9.0 % |
| EBITDA | 26.5 | 65.0 | 84.8 | 128.5 | 122.3 | 159.9 | 182.4 | 199.4 |
| EBIT (adj.) | 17.5 | 54.9 | 76.6 | 76.9 | 97.2 | 132.9 | 153.0 | 164.0 |
| EBIT | 11.0 | 36.8 | 26.6 | 99.0 | 83.3 | 115.9 | 135.2 | 146.2 |
| Profit before taxes | 3.9 | 14.9 | -11.3 | 48.9 | 29.7 | 73.2 | 98.9 | 116.1 |
| Net income | 3.1 | 16.1 | -20.3 | 46.7 | 25.7 | 54.9 | 74.2 | 87.0 |
| EPS (adj.) | 0.11 | 0.24 | 0.19 | 0.15 | 0.23 | 0.38 | 0.49 | 0.56 |
| growth-% | 30.5 % | 117.0 % | -21.2 % | -18.4 % | 47.9 % | 68.0 % | 28.0 % | 14.0 % |
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend ratio |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 18.9 % | 25.8 % | 26.1 % | 39.9 % | 28.9 % | 30.7 % | 31.8 % | 31.9 % |
| EBIT-% (adj.) | 12.5 % | 21.8 % | 23.6 % | 23.9 % | 23.0 % | 25.5 % | 26.7 % | 26.3 % |
| EBIT-% | 7.9 % | 14.6 % | 8.2 % | 30.7 % | 19.7 % | 22.2 % | 23.6 % | 23.4 % |
| ROE | 2.2 % | 6.6 % | -6.4 % | 13.8 % | 6.7 % | 12.3 % | 14.5 % | 14.7 % |
| ROI | 4.3 % | 7.7 % | 3.7 % | 13.1 % | 10.1 % | 13.0 % | 14.6 % | 15.0 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 2.10 | 4.30 | 1.60 | 1.02 | 3.60 | 3.60 | 3.60 | 3.60 |
| Shares | 117.1 | 149.7 | 159.2 | 159.2 | 186.8 | 186.8 | 186.8 | 186.8 |
| Market cap | 245.9 | 643.6 | 254.8 | 162.8 | 673.1 | 673.1 | 673.1 | 673.1 |
| Enterprise value | 301.0 | 839.4 | 526.1 | 455.6 | 1,039.6 | 986.8 | 927.4 | 835.6 |
| EV/S | 2.1 | 3.3 | 1.6 | 1.4 | 2.5 | 1.9 | 1.6 | 1.3 |
| EV/EBITDA | 11.3 | 12.9 | 6.2 | 3.5 | 8.5 | 6.2 | 5.1 | 4.2 |
| EV/EBIT (adj.) | 17.2 | 15.3 | 6.9 | 5.9 | 10.7 | 7.4 | 6.1 | 5.1 |
| EV/EBIT | 27.3 | 22.8 | 19.8 | 4.6 | 12.5 | 8.5 | 6.9 | 5.7 |
| P/E (adj.) | 18.9 | 17.9 | 8.4 | 6.6 | 15.7 | 9.4 | 7.3 | 6.4 |
| P/E | 58.7 | 37.9 | - | 3.5 | 24.2 | 12.3 | 9.1 | 7.7 |
| P/B | 1.4 | 2.1 | 0.8 | 0.5 | 1.6 | 1.4 | 1.2 | 1.1 |
| P/S | 1.8 | 2.6 | 0.8 | 0.5 | 1.6 | 1.3 | 1.2 | 1.1 |
| Dividend yield | ||||||||
| Equity ratio | 45.8 % | 32.9 % | 30.8 % | 35.0 % | 36.3 % | 40.0 % | 44.4 % | 49.1 % |
| Gearing ratio | 31.2 % | 63.7 % | 84.3 % | 83.1 % | 87.6 % | 66.3 % | 46.5 % | 25.6 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 98.7 | 322.0 | 82.5 | 96.6 | 113.7 | 130.2 | 423.0 | 106.9 | 122.3 |
| EBITDA | 27.3 | 128.5 | 20.2 | 28.1 | 36.2 | 37.9 | 122.3 | 31.1 | 37.2 |
| EBIT | 19.7 | 99.0 | 12.3 | 19.6 | 24.5 | 27.0 | 83.3 | 20.1 | 26.2 |
| Profit before taxes | 5.6 | 48.9 | -1.9 | 6.7 | 9.8 | 15.0 | 29.7 | 8.6 | 15.2 |
| Net income | 4.9 | 46.7 | 0.6 | 6.3 | 7.6 | 11.2 | 25.7 | 6.5 | 11.4 |
ShowingAll content types
Verve Q3'24: The risk/reward just got more attractive
Verve Group, Audiocast with teleconference, Q3'24
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Verve Achieves 45% Revenue and 45% EBITDA Growth in Q3 2024, Strong Free Cashflow Reduces Leverage Ratio to 2.6x, Jun Group Accelerates Organic Growth Post M&A
Verve Today Announced that Paul Echt will Step Down from His Role as CFO as of December 31, 2024. Christian Duus, Former CFO of Adform, has been Appointed CFO, Effective January 1, 2025
EQS-News: Verve Achieves 45% Revenue and 45% EBITDA Growth in Q3 2024, Strong Free Cashflow Reduces Leverage Ratio to 2.6x, Jun Group Accelerates Organic Growth Post M&A
Verve Group SE Invites Investors to the Presentation of its Interim Report Q3 2024 on November 28, 2024 at 10:30am CET
EQS-News: Verve Group SE Invites Investors to the Presentation of its Interim Report Q3 2024 on November 28, 2024 at 10:30am CET
Verve Q3’24 earnings preview: Focus on privacy-first targeting solutions is paying off
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: The strong momentum continues
EQS-News: Verve Accelerates Organic Revenue Growth to 31%in Q3’24, Driven by Increased Demand from New and Existing Clients for Privacy-First Targeting Solutions and Additional Budgets for Full-Screen Video Ads
Verve Accelerates Organic Revenue Growth to 31% inQ3'24, Driven by Increased Demand from New and Existing Clients for Privacy-First Targeting Solutions and Additional Budgets for Full-Screen Video Ads
Verve Group SE: Publishes Bond Prospectus and Applies for Listing of the Bonds on Nasdaq Stockholm
Redeye: Verve Group - Another strong quarter and more to come
Verve Group Q2'24: Gaining market share
Verve Group, Capital Markets Day, 2024
Verve Publishes Interim Report Q2 2024 With Organic Revenue Growth of 26% and EBITDA Growth of 37%, Capital Markets Day starting 10:00 CEST
EQS-News: Verve Publishes Interim Report Q2 2024 With Organic Revenue Growth of 26% and EBITDA Growth of 37%, Capital Markets Day starting 10:00 CEST
