ad pepper media International N.V.

Earnings Release • Oct 20, 2025

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ad pepper media International N.V.: Tripled revenue and record-high EBITDA in the third quarter of 2025

Nuremberg, Amsterdam, 20 October 2025

ad pepper Group, one of the leading performance marketing companies in Europe, generated revenue of EUR 16,969k in the third quarter (Q3 2024: EUR 5,224k), representing approximately a threefold increase. For the first time, revenue includes the full three-month contribution from the solute segment, amounting to EUR 11,582k (Q3 2024: n/a).

Group EBITDA for the third quarter also nearly tripled to EUR 1,284k (Q3 2024: EUR 485k), mainly due to the acquisition of solute. The segment EBITDAs for this period were as follows: solute generated EUR 971k (Q3 2024: n/a), Webgains achieved EUR 494k (Q3 2024: EUR 642k), and the ad agents and ad pepper segments generated a combined EBITDA of EUR 477k (Q3 2024: EUR 197k).

For the entire nine-month period, Group revenue amounted to EUR 35,060k (Q1–Q3 2024: EUR 15,624k) and EBITDA to EUR 2,153k (Q1–Q3 2024: EUR 1,192k).

Looking ahead to the traditionally strongest quarter of the year, the Group expects the dynamic upward trend in both revenue and profitability to continue, further accelerated by the recent acquisition of Checkout Charlie.

The liquidity reserve remained at a very high level of EUR 27,261k (Q3 2024: EUR 18,247k). There are still no liabilities to banks.

The report for the third quarter of 2025 will be published on 18 November 2025.

Key figures (unaudited) in EURk:

	Q3 2025	Q3 2024	Q1–Q3 2025	Q1–Q3 2024
Revenue	16,969	5,224	35,060	15,624
% growth	>100.0		>100.0
of which solute	11,582	n/a	19,231	n/a
% growth		n/a		n/a
of which Webgains	2,830	3,013	8,587	8,761
% growth	-6.1		-2.0
of which ad agents	1,560	1,738	5,028	5,301
% growth	-10.3		-5.2
of which ad pepper	998	473	2,213	1,562
% growth	>100.0		41.7
EBITDA	1,284	485	2,153	1,192
of which solute	971	n/a	1,913	n/a
of which Webgains	494	642	1,124	1,706
of which ad agents	107	159	487	613
of which ad pepper	370	38	537	111
of which admin	-660	-353	-1,909	-1,237
Liquid funds*			27,261	18,247

*Including securities at fair value.

For more information:

Dr Jens Körner (CEO)
ad pepper media International N.V.
+49 (0) 911 929057-0
ir@adpepper.com