Business
Sweden's Cdon Q1 net sales rise 13%, loss widens
Sweden's Cdon Q1 net sales rise 13%, loss widens
About this update from Cdon Ab
OverviewSwedish online marketplace operator's Q1 net sales rose 13% yr/yrCo reported wider adjusted loss per shareCompany shifted supply mix, impacting gross profit and take rateOutlookCompany did not provide specific financial guidance for the current or future periodsResult DriversSUPPLY MIX SHIFT - CDON segment's GPAM declined due to clearing old inventory and removing merchants not aligned with brand strategy, which negatively affected gross profit and take rateMERCHANT PERFORMANCE FEES - Fyndiq segment's GPAM grew 25%, driven by GMV growth and higher merchant performance feesEUROPEAN GIANTS - Large European merchants onboarded in late 2025 contributed to sales growth, increasing their share of GMV from less than 2% in December 2025 to 5% in March 2026Company press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ1 SalesSEK 90.60 mlnQ1 Adjusted EPS-SEK 0.59Q1 EPS-SEK 2.04Q1 Gross Margin83.10%Q1 EBIT-SEK 23.30 mlnQ1 EBITDA-SEK 2.80 mlnQ1 GMVSEK 394 mlnAnalyst CoverageThe one available analyst rating on the shares is "strong buy"The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy."Wall Street's median 12-month price target for Cdon AB is SEK105.00, about 48.7% above its April 22 closing price of SEK70.60For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .