Verve Group - Short-term impacts of platform unification

Verve Group's Q225 results show year-on-year growth slowing to 10% (-4% organic), from 32% (16% organic) in Q125, affected by technical challenges over the integration and unification onto a single supply-side platform (SSP), now resolved. FY25 revenue guidance is revised down 9% at the mid-point, affecting the anticipated EBITDA margin, which is also affected by adverse fx moves. The platform unification was a major exercise in enabling the business to scale more efficiently and effort is now being focused on driving sales, including expansion into new geographic markets. The group's ID-less, AI-driven advertising solutions have established a leading position in the important US mobile market and the medium- to longer-term prospects remain attractive.

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