Vend (VEND) Exceeds Q4 Profit Forecasts, Guides for 2026

Key Highlights

Vend Marketplaces ASA (OL:VEND) concluded its 2025 fiscal year with strong fourth-quarter results, reporting an EBITDA that surpassed company-compiled consensus by 13.6 percent. While group revenues were in line with expectations, the company demonstrated significant outperformance in profitability.

Performance Overview

The Norwegian operator's vertical segments were a primary growth engine, with revenue coming in 3 percent ahead of forecasts and adjusted EBITDA beating expectations by 11 percent. Growth in these segments accelerated to 8.1 percent on a constant currency basis during Q4, a notable increase from 2.8 percent in Q3. This performance was largely driven by the Real Estate and Jobs divisions, which exceeded profit expectations by 15 percent and 16 percent respectively.

Outlook and Challenges

For 2026, Vend has provided qualitative guidance, indicating sustained Average Revenue Per Account (ARPA) momentum across all verticals. This is expected to drive revenue growth consistent with medium-term targets of 5 to 17 percent. The company plans to maintain a broadly stable absolute cost base. However, it noted a delay in a planned pricing adjustment for its Mobility segment in Sweden and acknowledged that the migration of its Blocket platform was poorly executed.

Summary

Vend Marketplaces demonstrated robust profitability in Q4, signaling strong operational efficiency. Looking ahead, the market will monitor the company's ability to maintain its revenue momentum and successfully navigate operational challenges, including platform migrations and strategic pricing adjustments.

FAQ

Q: What was the main driver of Vend's Q4 profit beat?
A: The primary driver was significant outperformance in its vertical segments, specifically the Real Estate and Jobs divisions, which beat EBITDA forecasts by 15% and 16%.

Q: What is Vend's financial guidance for 2026?
A: The company offered qualitative guidance, anticipating continued revenue growth momentum driven by its go-to-market strategies, while keeping its cost base stable compared to 2025.

Source: Investing.com