Redeye provides an initial comment on Nyorda's Q3 2026 report. This was a clearly strong quarter, with net sales 7.6% above our estimate and all underlying metrics improving, including our normalised cash flow proxy. Metapic grew 18% year-on-year against our estimate of 13%, while Partner Marketing delivered solid growth and healthy profitability following the efficiency measures taken in the first half. Management stressed that growth was broad-based across all markets, which suggests the general market climate is improving slightly rather than a few geographies carrying the quarter. We expect to raise our estimates slightly across the board, and view the report as a clearly positive datapoint that strengthens our conviction in the case.
LÄS MER
