Acast AB (ACASF) Q4 2025 Earnings Call Highlights: Record Revenue Growth and Strategic Expansions

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Thu, February 12, 2026 at 12:02 AM GMT+9 3 min read

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ACASF

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This article first appeared on GuruFocus.

Release Date: February 11, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Acast AB (ACASF) reported a 27% revenue growth in Q4 2025, with 31% of that being organic growth.

The company achieved its first-ever full-year positive operating profit and cash flow in 2025.

North America continues to be a major growth engine, with revenue up 50% year over year.

Acast AB (ACASF) expanded its footprint in Germany with the acquisition of Wakewood Studios and Podeus.

The company has a robust cash position of SEK589 million, indicating strong financial health.

Negative Points

The UK market experienced a negative currency impact on the reported top-line, affecting overall performance.

Contribution margins in Europe remained flat year on year, despite revenue growth.

The contribution margin in Sweden was slightly lower year over year.

Administration costs increased by SEK20 million from Q3, partly due to the LTI program and consultancy costs.

The company faces challenges with unrealized currency exchange losses, which have had an outsized impact this year.

Q & A Highlights

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Q: Prices are improving quite significantly. Can you explain why this is and how we should think about prices going forward, given the various drivers? A: Greg Glenday, CEO: The short answer is quality. The quality of our delivery from ad operations to the type of talent we have is directly reflected in the CPMs. Brands are more focused on outcomes, not just pricing. We are moving into a world where CPMs are earned, not just set. Our omnichannel campaigns emphasize quality and outcomes, which allows us to command premium rates.

Q: You do not provide any guidance or outlook for 2026, but you have long-term targets. Should we assume a gradual path towards the 2028 targets or can there be a lumpy road? A: Anders Hegg, CFO: Your assumption seems reasonable. We expect to make continued progress in the years ahead to deliver on these targets. Our strategy is built to deliver high value to advertisers across all formats, ensuring we are well-positioned for the future.

Q: In the US, can you explain the structure of that market? It is fragmented, but can you mention some competitors and how you ensure continued growth and market share? A: Greg Glenday, CEO: The US market is very competitive with no dominant player. We focus on being the largest pure play in podcasting. Our specialization in narrative influencer marketing allows us to focus solely on podcasting, unlike competitors who have other business interests.

Story Continues  

Q: How do you see the interest in advertisers not just buying podcasts, but podcasting, impacting the sell-through ratio over the coming years? A: Greg Glenday, CEO: It takes pressure off our sell-through rate because advertisers are looking for deep integrations. We engage in deep integrated campaigns with big shows and use long-tail audience buys for higher scale. We are uniquely positioned to offer both vertical and horizontal campaign strategies.

Q: What are your 2026 targets for organic net sales growth and EBITD margin? A: Anders Hegg, CFO: We don’t provide specific guidance for 2026, but our target is to achieve a 10% EBIT margin by 2028, with a CAGR of 15% until then. We expect gradual growth towards these targets.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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