Verve Group Se Class A · OMXSTO:VER
Verve Group Se Class A — Q2 2026 Earnings Presentation
23 slides from Verve Group Se Class A's earnings presentation, Aug 27, 2026
Slide 1: Verve Group Q2 Report 2026
August 2026 Verve Group Q2 Report 2026
Slide 2: Disclaimer
Disclaimer THE INFORMATION CONTAINED IN THIS PRESENTATION IS STRICTLY CONFIDENTIAL. ACCORDINGLY, THE INFORMATION INCLUDED HEREIN MAY NOT BE REFERRED TO, QUOTED OR OTHERWISE DISCLOSED BY YOU, NEITHER DIRECTLY OR INDIRECTLY NOR WHOLLY OR PARTLY. BY REVIEWING THIS INFORMATION, YOU ARE ACKNOWLEDGING THE
Slide 3: Q2 Performance Highlights
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Slide 4: Q2 2026 - Continued Growth Despite Macro Pressure, Guidance Reaffirmed
Q2 2026 - Continued Growth Despite Macro Pressure, Guidance Reaffirmed Key overview of Q2 2026 financial headlines and FY 2026 guidance 1 2 Revenue Growth Despite Headwinds Customer Base Continues to Expand Like-for-like revenue +6.5% to EUR 152.3m Total clients +35.6% YoY, Large clients +21.5% YoY
Slide 5: A Leading Mobile Ad-Tech Company
A Leading Mobile Ad-Tech Company Unparalleled capabilities in matching advertisers and publishers and reaching end consumers worldwide 1159 Large software clients2 10% 13% +65,000 App integrations 12% Revenue Revenue by Device by Region Q2 2026 Q2 2026 +2.5 Billion Consumer reach1 75% 90% 1.2 Trilli
Slide 6: Revenue Growth impacted by macro headwinds, but margins remain high
Revenue Growth impacted by macro headwinds, but margins remain high Macro headwinds and heterogeneous market weighing on growth, while EBITDTA remains stable despite one-offs €m FX +7pp €m -1.7% YoY +2% +7% In Q2’26 40% LfL1 30 143 29 33% 37 152 106 Q2‘25 Q2’26 Q2’25 Q2’26 Q2’25 Q2’26 Revenue Gross
Slide 7: Solid Customer Growth Coupled with Structural Retention
Solid Customer Growth Coupled with Structural Retention We are successfully scaling our clients into large software clients Ad Impressions (billions) Number of Software Clients3 Total -10% 4,176 310 311 4,086 288 3,079 3,734 259 234 2,948 3,056 3,079 >100k $ 1,140 1,152 1.067 1,124 1,135 1,159 954 Q
Slide 8: Q2 2026 Key Commercial Indicators
Q2 2026 Key Commercial Indicators Continued growth and reaffirmed guidance despite macro pressure and internal optimizations 1 2 Unified Platform Performing As Planned Market Split Remains Visible Platform performance significantly ahead of prior year Walled gardens continued to grow strongly Strong
Slide 9: Solving The Open Internet's Challenge: Outcome Measurability
Solving The Open Internet’s Challenge: Outcome Measurability Ad budgets remain heavily skewed toward walled gardens despite the open internet receiving most consumer attention ● Walled Gardens ● Open Internet ● Ad Spend per User Hour Third-party Mobile Apps (Open Internet) $0.07 80% 69% Walled Garde
Slide 10: Our Strong Foundation for Success: Scale + Platform + Data
Our Strong Foundation for Success: Scale + Platform + Data Superior Targeting & Outcome Measurement Capabilities AI INTELLIGENCE Verve Demand Verve Side Supply Side (Advertiser (Publisher Connection) Connection) Verve Data Platform Critical Mass Unified Platform Vast Data Scaled Full Stack One of La
Slide 11: Sector Specific Focus – Taking Retail Media to a New Level
Sector Specific Focus – Taking Retail Media to a New Level A High-Growth Market with a Long-Standing Unsolved Challenge Upper Funnel Disconnect Lower Funnel Missing Link between Online Fragmented Landscape Prevents Lack of Measuring Results Ad Spend and In-Store Sale Cross-Retailer Campaigns No Full
Slide 12: Verve's First Measurable Outcome Loop in Retail Media
Verve’s First Measurable Outcome Loop in Retail Media Sofa to Store With Measurable Outcomes Receipt and Redemption Data More Data with every Impact and additional Campaign Preference Signals Improved Targeting, more Redemptions >17,000 >46 m >5,000 +9% 200+ Retail Stores Gross In-store Proven Activ
Slide 13: Leveraging existing Receipt and Redemption Data from Stores for Measuring
Leveraging existing Receipt and Redemption Data from Stores for Measuring Understanding Where to Target is Key to Achieving the Best Possible Advertising Impact for Brands Measuring Cross-retailer receipt data feeds an AI layer that reads category dynamics down to the postal-code level, showing exac
Slide 14: Financials
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Slide 15: Second Quarter Financial Highlights
Second Quarter Financial Highlights LfL revenue growth of 6.5% YoY despite homogeneous market growth; profitability impacted by strategic investment phase Q2 2026 Revenues and Adj. EBITDA1 Q2 2026 Margins and Cash Flows +6.5% +3.5% Adj. EBITDA impacted by strategic investments LfL Revenue Organic Re
Slide 16: Structural Improvement in Gross Profit Margin Carries Through to Q2
Structural Improvement in Gross Profit Margin Carries Through to Q2 Unified Supply Side platform more cost efficient and better at dynamic margin management, paired with cloud savings Gross Profit Margin Like-for-Like1 +6.9%-pts -1.0%-pts Gross Profit = Revenues – Purchased Services Q2’26 vs Q2’25 Q
Slide 17: Operating Cash Flow after NWC Back to Strong Normalized Levels
Operating Cash Flow after NWC Back to Strong Normalized Levels LTM cash conversion improves further in Q2’26, CAPEX up to 80m expected for the full year incl. acquisitions Operating Cash Flow Development1 CAPEX Development €m €m ESTIMATE 137.0 162* Acquisition: Hereof 115.6 115.6 9.9m in deferred 10
Slide 18: Q2 2026 Development in Group Cash Position
Q2 2026 Development in Group Cash Position Cash position was €132.4m at the end of Q2 2026, €14.8m lower than end of Q1 2026 Group Cash Position, EURm – Cash movement walk-through -€14.8m 147,2 16,1 6.1 8.7 16,4 132,4 0.3 Q1’26 cash CF from Net change CF from CF from FX effects Q2’26 cash position o
Slide 19: Balancing Growth and Deleveraging Remains a Key Focus Point
Balancing Growth and Deleveraging Remains a Key Focus Point 3.3x net leverage elevated by acquisitions; interest coverage ratio remains at healthy levels Adjusted Leverage Ratio Interest Coverage Ratio €m €m 1471 1462 462 1422 1392 446 448 351 95 295 3.1x 3.0x 3.1x 3.3x 4.5x 2.4x 4.3x 4.4x 3.3x 2.5x
Slide 20: Guidance FY 2026
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Slide 21: Reaffirmed Outlook for 2026
Reaffirmed Outlook for 2026 Sales team ramp-up resulting in 'front-loaded' investment phase in H1 FY 2025 FY 2026 Actuals Guidance Revenue (like-for-like) 602 680 – 730 (in €m) Adj. EBITDA 134 145 - 175 (in €m) As exact timing of 'sales-productivity inflection point' is difficult to forecast with qu
Slide 22: Our Tasks Ahead - Building on a Strong Position to Drive Further Growth
Our Tasks Ahead - Building on a Strong Position to Drive Further Growth Expanding our Strengths and Building New Ones Sales Force Expansion AI and Scaling Search & Conversational Intent Continue Scaling Further Improvement of Further Expansion and Demand and Supply Ad Intelligent Platform Improvemen
Slide 23: Got Questions?
Got Questions? If you have any questions, please contact: Ingo Middelmenne ingo.middelmenne@verve.com © 2026 Verve Group, Inc.