Spir Group reports strong Q3, sets ambitious growth and profit targets

Spir Group ASA reported a strong third quarter in 2025, with pro forma revenues increasing 6% year-on-year to NOK 236 million and gross profit up 17% to NOK 129 million. The gross margin improved by 3.1 percentage points to 54.5%, while Adjusted Cash EBITDA rose to NOK 27.5 million, up from NOK 21.7 million in Q3 2024, achieving a margin of 11.6%. Net income for the quarter reached NOK 806 million, largely due to the divestment of Sikri AS, which sharpened the company's focus on its core real estate data and software business.

Growth was broad-based across segments, with Ambita growing 7%, Boligmappa 15%, iVerdi 21%, and Metria remaining unchanged. The group's financial position strengthened, with net interest-bearing debt near zero after an extraordinary dividend payout of NOK 324 million. Operating expenses increased by 6%, while CAPEX decreased by 23%, reflecting disciplined cost control despite ongoing investments in product development and AI-driven innovation.

Looking ahead, Spir Group announced new long-term financial targets, including organic revenue growth of 6–9% per year, normalized OPEX growth of 5–8%, and a Cash EBITDA margin target of 12–15%. The company also committed to a dividend policy of distributing 40–60% of cash EBITDA to shareholders, supported by planned cost reduction programs in 2025 and 2026 totaling over NOK 30 million.