Nasdaq CopenhagenIFRS · EUR

ADFORM A/S

ADFORM A/S is a Danish software company focused on digital advertising technology. Its platform is used across the buy side and sell side of the ad ecosystem, providing tools that help advertisers, agencies, publishers, and media owners plan, buy, sell, and manage digital media.

Kysy yhtiöstä
Liikevaihto103milj. EUR
+1,0 %v/v
Liikevoitto (EBIT)12,0milj. EUR
−0,6 %v/v
EBIT-marginaali11,6%
−0,2 %-yks.v/v
Nettotulos7,8milj. EUR
−15,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2024–2025

0255075100125milj. EUR2024: 102 milj. EUR2024: EBIT 12 milj. EUR20242025: 103 milj. EUR2025: EBIT 12 milj. EUR202510312
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: ADFORM A/S

Liiketoiminta

Osuus liikevaihdosta
Buy-side advertising platform45 %

Software used by advertisers and agencies to plan, purchase, and optimize digital media.

Sell-side publisher tools25 %

Technology for publishers and media owners to sell inventory and manage monetization.

Ad serving and measurement15 %

Tools that deliver ads, track performance, and support reporting and attribution.

Audience and data activation15 %

Capabilities that support audience targeting, segmentation, and first-party data use.

Asiakkaat

Adform serves both sides of the digital advertising market, with customers on the buy side and the sell side. Buyers include advertisers, agencies, publishers, and media owners that need software to execute, monetize, and measure digital campaigns. The platform is relevant where buyers want workflow control, audience reach, and programmatic execution in one system.

Advertisers

Use the buy-side platform to purchase digital media, target audiences, and optimize campaign performance.

Agencies

Manage media buying and campaign operations for multiple clients through the platform.

Publishers

Use sell-side tools to monetize inventory, manage demand, and improve ad yield.

Media owners

Buy tools for inventory management, ad serving, and programmatic sales execution.

Strategia

Adform’s strategy centers on integrating multiple products into one digital advertising platform that supports the full ad workflow. The business depends on expanding platform usage across both buy-side and sell-side customers, which increases customer stickiness and broadens monetization opportunities.

Platform breadth and integrationKeskipitkä aikaväli

A wider product suite makes the platform more useful across the ad workflow and improves switching costs.

Customer expansion across both sides of the marketLyhyt aikaväli

Serving advertisers, agencies, publishers, and media owners diversifies demand and supports cross-sell.

Maantiede

Adform is headquartered in Copenhagen, Denmark, and operates as a multinational software business with revenue monitored by customer location. The annual report indicates a Nordic market segment and notes that revenue is attributed to the geographic market where customer offices are located. This makes regional advertising spend patterns, media market structure, and regulatory conditions important to business performance.

Riskit

Adform is exposed to demand swings in digital advertising, since customer spending on campaigns and monetization tools can change with broader marketing budgets. It also faces competitive and regulatory risk typical of ad tech, including pressure on pricing, data access, and platform integration. Because the business serves multiple customer types across markets, changes in privacy rules or media buying standards can affect product utility and adoption.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Digital advertising cyclicality1Privacy and data regulation2Competition in ad tech3
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Digital advertising cyclicalityVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue depends on customer media budgets and platform usage, which can move with macro conditions.

    Kohdistuu: Advertiser and agency spend

  2. Privacy and data regulationVaikutus: KorkeaTodennäköisyys: Korkea

    Targeting and measurement tools rely on data access that can be constrained by privacy rules.

    Kohdistuu: Audience targeting and attribution

  3. Competition in ad techVaikutus: KeskitasoTodennäköisyys: Korkea

    The market includes global platforms and specialist vendors competing on functionality and integrations.

    Kohdistuu: Platform pricing and customer churn

Kysy Clarifolta: ADFORM A/S

Kirjanpito

Harkinnanvaraiset erät
EBITDAC and special items

Management uses this measure to adjust for non-recurring or non-cash items, which changes the view of operating performance.

Vaikutus: Affects comparability of underlying profitability

Capitalized development costs

Software development spend may be capitalized and later amortized or impaired based on expected benefit.

Vaikutus: Affects asset values, amortization, and impairment charges

Share-based payments

Warrants and options granted to employees and board members create compensation expense and dilution risk.

Vaikutus: Affects expenses and equity

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Addnode Group

ANOD-B · Technology

PubMatic, Inc.

PUBM · Services-Computer Programming, Data Processing, Etc.

Nanoform Finland Oyj

NANOFH · Biotechnology

Acast

ACAST · Technology

KNOREX LTD

KNRX · Services-Computer Programming, Data Processing, Etc.

Administer Oyj

ADMIN · Consulting Services

Päivitetty: 24.10.2026