Verve Reports Q2 2024 Results with 26% Organic Revenue Growth and 37% EBITDA Growth

Verve Group SE has published its Interim Report for Q2 2024, showing significant financial improvements. The company's net revenue reached €96.6 million, marking an increase of 27% compared to the same period last year. Organic net revenue growth was 26%, driven by new software clients and increased budgets from existing clients.

Adjusted EBITDA rose by 37% to €29.1 million, with a margin of 30%. The adjusted EBIT increased by 40%. These gains were achieved despite legal and ESOP costs impacting EBITDA by €1.0 million. The adjusted net result surged by 122% to €8.8 million.

Other financial metrics also showed improvement. Operating cash flow before changes in working capital was €31.2 million, and the leverage ratio improved from 3.6x to 2.2x. The company also reported a stronger cash position at €144.8 million.

Verve's CEO, Remco Westermann, highlighted the company's commitment to privacy-first advertising solutions, which has driven client growth. The number of software clients increased by 33% to 851.

The company has raised its full-year 2024 guidance to €400 million-€420 million in revenues and €125 million-€135 million in adjusted EBITDA.