Q3 results: Strong revenue growth, improved margins, and new targets for growth and profitability

Oslo, 11 November 2025: Spir Group (“the Group”, OSE: SPIR) delivered a strong third quarter, with revenues up 6 percent year-on-year (numbers pro forma) to NOK 236 million, and gross profit increasing by 17 percent to NOK 129 million. The gross margin improved by 3.1 percentage points to 54.5 percent. Adjusted Cash EBITDA rose to NOK 27.5 million, up from NOK 21.7 million in Q3 2024, corresponding to a margin of 11.6 percent (9.9 percent). Net income for the quarter was NOK 806 million, reflecting the gain from the divestment of Sikri AS.

“The third quarter marks a significant milestone. Not only did we deliver strong financial results across all parameters, but we also took significant strategic steps forward. The successful divestment of Sikri has sharpened our focus, making Spir a pure-play real estate data and software company. We also completed the acquisition of Prosper AI’s real estate broker solutions, further strengthening our offering to real estate professionals. All of this paves the way for our new, ambitious growth and profitability targets presented today,” says Per Haakon Lomsdalen, CEO of Spir Group.

In the third quarter, growth and profitability improvement was broad-based, with Ambita growing 7 percent, Boligmappa 15 percent, iVerdi 21 percent and Metria unchanged year-on-year.

The Group continues to see positive effects from its simplification agenda, including the divestment of non-core assets and a disciplined approach to cost control. Operating expenses increased by 6 percent year-on-year and CAPEX down 23 percent, despite ongoing investments in product development and AI-driven innovation.

Financial position and capital allocation

The Group’s financial position is robust, with net interest-bearing debt now close to zero following the Sikri transaction and extraordinary dividend payout of NOK 324 million. Cash and cash equivalents at quarter-end were NOK 94 million, and the Group maintains significant liquidity reserves.

New financial targets and outlook

Spir Group has announced new long-term financial targets:

• Organic revenue growth of 6–9 percent per year
• Normalized OPEX growth of 5–8 percent
• Cash EBITDA margin target of 12–15 percent
• Dividend policy of distributing 40–60 percent of cash EBITDA to shareholders

A cost reduction program targeting at least NOK 20 million in annual savings will be implemented in 2026, in addition to NOK 10 million in savings already delivered in 2025.

“The real estate sector’s digital transformation is accelerating, and Spir Group is uniquely positioned as a trusted partner for data, software, and AI-driven solutions. With a sharpened focus, strong financial platform, and ambitious growth agenda, we are well positioned for continued value creation,” says Lomsdalen.

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Investors, analysts, and media are invited to follow the webcast presentation of the results today at 08:00 CET, hosted by CEO Per Haakon Lomsdalen and CFO Line Cecilie Stenseth.

Webcast link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251111_1

The report and presentation are available for download at https://www.spirgroup.com/en/investor-relations/investor-presentation and www.newsweb.no. The webcast will be available for replay immediately after the live stream is concluded.

For further queries, please contact:

• Per Haakon Lomsdalen, CEO Email: per.lomsdalen@spirgroup.com Tel: +47 90 27 19 18
• Line Cecilie Stenseth, CFO Email: line.stenseth@spirgroup.com Tel: +47 91 66 24 17

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Line Cecilie Stenseth, CFO, at the time and date set out above.