Report Interim Report January – September 2026
Financial Data Interim Report January – September 2026
Storytel Group reports accelerating growth, the largest subscriber increase since 2023 and continued expansion of the adjusted EBITDA margin on a rolling twelve-month basis – full-year guidance confirmed.
“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% | ||
| ¹ Streaming net sales include 100% of Storytel Norway’s net sales. From Q2 2026, Norway is reported in the same way as in the Nordics segment. Previously, only 50 percent of the Norwegian joint venture company was included in the Streaming business area total. Comparative periods have been restated. See Note 5 for further information. ² Publishing net sales include both external and group-internal net sales. ³ Alternative Performance Measure (APM). See “Alternative Performance Measures” for definitions, purpose and reconciliation. | ||||||||