Interim Report Q3 2024
Verve Achieves 45% Revenue and 45% EBITDA Growth in Q3 2024, Strong Free Cashflow Reduces Leverage Ratio to 2.6x, Jun Group Accelerates Organic Growth Post M&A
The leading advertising platform in emerging channels
Verve primarily operates in North America but is registered as a Societas Europaea in Sweden (registration number 517100-0143). Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market. Verve's certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden AB.
This platform matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with our mission, “Let’s make media better.,” the company focuses on enabling better outcomes for advertisers, agencies, and publishers with responsible advertising solutions, while focusing on emerging media channels.
- Software Clients >100k USD
- 1000+
- Ad Impressions yearly
- 870bn+
- Connected Devices
- 2.5bn+
- Employees
- 800+
- Locations Worldwide
- 15+
News and Publications
Verve Group SE: Verve Group SE announces that the total number of shares of the company increases following the issuance of new shares to service parts of the employee stock option program
Verve Group SE:
Verve Group SE announces that the total number of shares of the company increases following the issuance of new shares to service parts of the employee stock option program
Year-End Investor Letter
As the end of the year approaches, we can conclude that 2024 has been a remarkable year for Verve.
Verve Group SE: Appointment of Nomination Committee
Verve Group SE: Appointment of Nomination Committee
Verve Achieves 45% Revenue and 45% EBITDA Growth in Q3 2024, Strong Free Cashflow Reduces Leverage Ratio to 2.6x, Jun Group Accelerates Organic Growth Post M&A
Verve Achieves 45% Revenue and 45% EBITDA Growth in Q3 2024, Strong Free Cashflow Reduces Leverage Ratio to 2.6x, Jun Group Accelerates Organic Growth Post M&A
Our mission
Verve’s "Let’s make media better" mission focuses on enabling better outcomes with responsible advertising solutions in emerging channels.
Better Outcomes
Verve creates a more efficient marketplace for advertisers, agencies, and publishers by reducing intermediaries, ensuring every ad dollar goes further. Leveraging AI and machine learning, we combine proprietary first-party data with innovative contextual solutions like ATOM and Moments.AI, along with enriched third-party data, to deliver campaigns with superior outcomes.
Responsible Advertising Solutions
Verve's commitment to responsible advertising solutions includes prioritizing consumer privacy, ad quality/safety and sustainability. We prioritize a privacy-by-design approach in building our technology, while also focusing on key initiatives that brands and consumers care about, such as sustainability, carbon offsetting and DE&I initiatives. The company ensures brand safety by collaborating with trusted partners to guard against fraudulent traffic and MFA pages. Verve’s dedication to quality is reinforced through robust internal processes, substantial AI investments, and a strong emphasis on transparency and measurement.
Emerging channels
Verve is focused on emerging and high-growth media channels where users are spending the majority of their time online, while most advertising dollars are still stuck in older digital channels. These include Verve's core channels of mobile in-app and connected TV (CTV), but also channels such as DOOH, audio and retail media. Verve is recognized as an expert and market leader in emerging channels.
History
2012 - 2017
Our roots as a games company
Verve's journey began in 2012, when Remco Westermann (CEO) acquired 100% of the shares in the German games company gamigo AG. At the time, gamigo AG was in financial distress, had around 100 employees and annual revenues of roughly 10 million euros. From 2012 to 2017, gamigo AG's focus was on achieving critical mass for long-term success. In 2013 and 2014, gamigo was restructured and focused on reducing costs, discontinuing risky new games development and introducing an M&A model, resulting in 30 million registered users. In 2015, the company made various acquisitions, including Looki Publishing GmbH. A key success factor for games companies is user acquisition and the monetization of content via advertising. As the company was not satisfied with the external providers in either area, gamigo made its first acquisition in the media sector in 2016. The aim was to support the games sector in-house in the areas of user acquisition and monetization.
2018 - 2023
Transformation into a leading digital media company
Drawing from our extensive experience in user acquisition and monetization as a games company, we began expanding our media business around 2018. No longer just supporting our games, this new focus on programmatic advertising became a second pillar alongside our games business. This led to the formation of MGI - Media and Games Invest, which has been listed on the German Stock Exchange since 2018 and on the Nasdaq First North Growth Market in Stockholm since 2020. Since then, our media business (which we operated under the Verve brand) has grown significantly faster than our games business, with a sharp acceleration in organic growth. As a result, we have increasingly shifted our operational focus to the media business, which accounts for more than 80% of our revenue of over EUR 300 million in 2023 and is the main driver of our strong organic growth.
2024
Focus on our Mission Let’s Make Media Better
Today, we have completed our transformation into a leading media company. The 2024 Annual General Meeting decided to change the name to Verve as a sign of our strategic focus now and in the future. Our mission is Let's Make Media Better. Our goal is enabling better outcomes with responsible media focusing on emerging channels. Today, Verve has over 700 employees worldwide, is profitable and growing organically at a substantial double-digit rate.
