Verve Group, a European digital advertising company, reported a 6.5% rise in like-for-like revenue to €152.3 million for the second quarter of 2026, though its shares fell more than 16% in early trading on Thursday.
Gross margin expanded to 40.0% from 33.1% a year earlier, while adjusted EBITDA increased to €30.1 million. Adjusted EBITDA margin narrowed to 19.8%, down 0.8 percentage points year-over-year, reflecting continued investment in technology and sales infrastructure.
Despite the revenue growth, the company faced softer-than-expected ad spend on its platform, attributed to macroeconomic headwinds and a more selective advertising market. Verve Group reaffirmed its full-year 2026 guidance, citing expectations of an acceleration in the second half and improving sales team productivity.
CEO Remco Westermann noted that the second quarter was more demanding than anticipated but emphasized that the company’s technology and sales investments were positioning it for long-term growth. The shares fell 15.73% to €1.10, erasing a portion of the gains recorded earlier in the week.
