Revenue and Earnings Growth
Q3 revenue amounted to EUR 11.6 million, a 9% increase versus Q3 2024 and a 22% increase versus Q2 2025. Adjusted for the weaker U.S. dollar, revenue increased by 15% from Q3 2024.
Adjusted EBITDA Improvement
Adjusted EBITDA improved to EUR 2.9 million, more than double from the previous quarter and Q3 2024. The adjusted EBITDA margin improved to 25%, up from 14% in the previous quarter and 13% in Q3 2024.
Operational Efficiency
The cost optimization program resulted in a 6.9% year-on-year reduction in operating expenses, contributing to improved efficiency across all business areas.
Geographical Revenue Focus
North America contributed 96% of group revenue, reflecting the company's strategic focus on this geography.
Launch of Marketplace Platform
The launch of the sub-affiliation platform Marketplace showed strong results, enhancing service delivery and empowering affiliates and operators in North America.