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
Overview Swedish online marketplace operator's Q1 net sales rose 13% yr/yr Co reported wider adjusted loss per share Company shifted supply mix, impacting gross profit and take rate Outlook Company did not provide specific financial guidance for the current or future periods Result Drivers SUPPLY 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 rate MERCHANT PERFORMANCE FEES - Fyndiq segment's GPAM grew 25%, driven by GMV growth and higher merchant performance fees EUROPEAN 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 2026 Company press release: Key Details Metric Beat/Miss Actual Consensus Estimate Q1 Sales SEK 90.60 mln Q1 Adjusted EPS -SEK 0.59 Q1 EPS -SEK 2.04 Q1 Gross Margin 83.10% Q1 EBIT -SEK 23.30 mln Q1 EBITDA -SEK 2.80 mln Q1 GMV SEK 394 mln Analyst Coverage The 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 SEK70.60 For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .