“A strong quarter in which our subscriber base grew by 80,000 paying subscribers – the largest increase since 2023. This, together with a continued increase in the adjusted EBITDA margin on a rolling twelve-month basis and net sales growth of 16.5% at constant exchange rates, enables us to confirm our full-year guidance,” says Bodil Eriksson Torp, CEO of Storytel Group.
Third quarter 2026
● Net sales amounted to SEK 1,179m (1,013).
● Net sales growth of 16.5% at constant exchange rates (CER), of which 11.7% organic.
● Publishing external net sales increased by 53.8% CER, of which 26.6% organic.
● Gross margin amounted to 45.3% (45.4%).
● Adjusted EBITDA margin amounted to 22.7% (22.9%).
● Operating profit increased 16% to 176m (152).
● Net profit amounted to 151m (138), with earnings per share of SEK 1.83 (1.69) after dilution.
● Paying subscribers increased by 80k (64k) during the quarter to 2.83m (2.63), up 7.6% YoY.
● ARPU (SEK/month) amounted to 119.6 (118.1).
● Buyback of B shares of up to 300m initiated in August.
January–September 2026
● Net sales amounted to SEK 3,229m (2,925).
● Net sales growth of 12.4% CER, of which 10.1% organic.
● Gross margin amounted to 45.6% (45.0%).
● Adjusted EBITDA margin amounted to 19.8% (18.0%).
● Operating profit increased 32% to 382m (289).
● Net profit amounted to 338m (204), with earnings per share of SEK 4.07 (2.43) after dilution.
● Paying subscribers increased by 163k during the period.
● Net debt amounted to −132m (23), corresponding to −0.15x adjusted EBITDA (R12M).
Outlook 2026
Full-year 2026 adjusted EBITDA guidance of SEK 900m is confirmed.
Financial summary
| SEKm | Q3 2026 | Q3 2025 | Change | Jan-Sep 2026 | Jan-Sep 2025 | Change | R12M | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales | 1,179 | 1,013 | 16% | 3,229 | 2,925 | 10% | 4,327 | 4,023 |
| Net sales growth, % | 16.4 | 6.2 | 10.2pp | 10.4 | 5.6 | 4.8pp | - | 5.9 |
| Net sales growth CER, %³ | 16.5 | 9.3 | 7.2pp | 12.4 | 8.1 | 4.3pp | - | 9.2 |
| Organic growth CER, %³ | 11.7 | 8.2 | 3.4pp | 10.1 | 7.4 | 2.8pp | - | 8.3 |
| Streaming Net sales¹ | 1,000 | 923 | 8% | 2,874 | 2,711 | 6% | 3,819 | 3,656 |
| Publishing Net sales² | 423 | 324 | 31% | 1,058 | 907 | 17% | 1,425 | 1,274 |
| Gross profit | 535 | 460 | 16% | 1,472 | 1,317 | 12% | 1,988 | 1,833 |
| Gross margin % | 45.3 | 45.4 | 0.0pp | 45.6 | 45.0 | 0.6pp | 45.9 | 45.6 |
| Adjusted EBITDA³ | 268 | 232 | 16% | 640 | 528 | 21% | 860 | 748 |
| Adjusted EBITDA margin %³ | 22.7 | 22.9 | −0.1pp | 19.8 | 18.0 | 1.8pp | 19.9 | 18.6 |
| EBITDA³ | 260 | 232 | 12% | 621 | 528 | 18% | 840 | 747 |
| EBITDA margin %³ | 22.1 | 22.9 | −0.8pp | 19.2 | 18.0 | 1.2pp | 19.4 | 18.6 |
| Operating profit (EBIT) | 176 | 152 | 16% | 382 | 289 | 32% | 516 | 423 |
| EBIT margin % | 14.9 | 15.0 | −0.1pp | 11.8 | 9.9 | 2.0pp | 11.9 | 10.5 |
| Net profit | 151 | 138 | 9% | 338 | 204 | 65% | 638 | 504 |
| Earnings per share, basic (SEK) | 1.84 | 1.70 | 8% | 4.09 | 2.45 | 67% | 7.90 | 6.26 |
| Earnings per share, diluted (SEK) | 1.83 | 1.69 | 8% | 4.07 | 2.43 | 67% | 7.85 | 6.22 |
| Cash flow from operating activities | 285 | 158 | 81% | 570 | 342 | 67% | 801 | 573 |
| Net Debt ³ | −132 | 23 | - | −132 | 23 | - | −132 | −136 |
| Net debt/adjusted R12M EBITDA ratio³ | −0.15 | 0.03 | - | −0.15 | 0.03 | - | −0.15 | −0.18 |
| End of period subscribers (thousands) | 2,828 | 2,628 | 8% | 2,828 | 2,628 | 8% | ||
| ARPU (SEK/month)³ | 120 | 118 | 1% | 116 | 118 | −2% |