Nyorda Ab Company Research (0GTU)

Tradedoubler reported Q126 results that showed continued strong revenue growth from Influencer Marketing and underlying growth from Partner Marketing. Evolving the product offering to meet market demand, the company has launched an AI discovery product, Emna.ai, and has invested in a joint venture to enter the retail media market. Reflecting the fact that the group now comprises five different products/brands, it is planning to change the company name to Nyorda. The company has narrowed its 25% EBITDA/gross profit margin target date to FY27. This is in line with our forecasts, which are substantially unchanged.