Observed Signal · Feb 23, 2026 · Earnings Report · Source: Verve Group SE Investor Relations Monitor · Impact: 4/5 · Sentiment: Positive
MGI Reports 16% Q4 Growth, Exceeds 2023 Revenue Goals
Media and Games Invest SE (MGI) reported strong organic growth in Q4 2023, with net revenues of €98.7m and 16% organic revenue growth adjusted for FX and divestments. Full-year 2023 revenues amounted to €322.0m (‑1% YoY) and exceeded the company’s updated FY guidance by ~6%. Adjusted EBITDA was €31.7m in Q4 and €95.2m for FY 2023. Adjusted net result more than tripled in Q4 to €7.5m and increased 172.5% year‑on‑year to €57.4m for the full year. MGI reported operational KPIs growth: a 19% increase in software clients to 2,276 and 14% higher ad impressions to 206 billion. Pixalate data cited MGI market share of 12% on both iOS and Android in North America. The company started 2024 with continued momentum (18% organic growth in January 2024) and highlighted AI-driven, ID-less targeting solutions and cost-efficiency measures.
Quarterly earnings from a publicly listed ad‑tech company showing double‑digit organic growth, improved profitability metrics, market share data and guidance outperformance; relevant to investors and industry peers though not industry‑shifting.
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Key Takeaways & Evidence Grounding
- Q4 2023 net revenues were €98.7 million (Q4 2022: €92.9 million).
- MGI reported 16% organic revenue growth in Q4 2023 (adjusted for FX and divestments).
- Full-year 2023 revenues were €322.0 million, outperforming the updated FY 2023 guidance (~€303m) by ~6%.
- Adjusted EBITDA was €31.7 million in Q4 2023 and €95.2 million for FY 2023.
- MGI reported a 19% increase in software clients to 2,276, 206 billion ad impressions (+14%), and 12% mobile SSP market share on both iOS and Android in North America (Pixalate).
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2 Entities mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
MGI Reports Stable Revenue Amid Market Challenges
Media and Games Invest SE (MGI) reported Q2 2023 net revenues of EUR 76.2m (Q2 2022: EUR 78.1m) and adjusted EBITDA of EUR 21.3m (Q2 2022: EUR 21.1m). Revenue normalized for divestments and FX rose 3% year-over-year, with FX-adjusted organic growth of 1%. MGI via Verve Group reported in-app market shares of 11% on Google and 17% on Apple in North America per Pixalates. The company announced a structural personnel cost reduction of approximately EUR 10m annually while maintaining investments in platform innovation, data and AI. Updated guidance for FY 2023 expects revenue and adjusted EBITDA to be broadly stable year-over-year (guidance cites ~EUR 303m revenue normalized and adjusted EBITDA ~EUR 93m). Net interest-bearing debt was EUR 307.7m as of June 30, 2023, and leverage stood at 3.2x.
Media & Games Invest Surges: 150% EBIT Growth!
Media & Games Invest plc (MGI) reported strong Q3 2020 results with net revenues of €35.0m (up 29% year-over-year) and adjusted EBIT of €4.0m (up 150% YoY). Adjusted EBITDA for the quarter was €6.4m (up 61%). Following the quarter, MGI raised its full-year 2020 guidance, expecting consolidated revenues up to €135m and reported EBITDA up to €26m. The company cited continued organic growth in gaming, contributions from its media unit (including user acquisition services for external advertisers such as Zynga, InnoGames and Ubisoft), and the acquisition of freenet Digital GmbH which it expects to boost mobile game revenues from Q4 onward. MGI also noted its listing on Nasdaq First North Premier and a concurrent capital increase that was oversubscribed. Management announced an investor presentation and highlighted ongoing M&A and organic growth initiatives.
Global‑e Posts Double‑Digit Revenue and Profit Growth
Global‑e Online reported strong Q2 2026 results: GMV rose 44% to $2.089 billion, revenue increased 39% to $299 million, and adjusted EBITDA climbed 62% to $62.4 million. Adjusted gross profit and adjusted net income also grew, while GAAP net income and free cash flow improved. The company cited AI-driven efficiency and scale benefits, expanded Shopify Managed Markets v2.0 to Canada and the UK, and added multiple global brands as customers. Global‑e completed $68 million of share repurchases in Q2 (finishing a $200 million program) and its board authorized a new buyback program of up to $500 million. Following the strong first half, Global‑e raised its 2026 guidance for GMV, revenue and adjusted EBITDA and provided Q3 targets.
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