Scout24 stock rises as Q3 growth lifts 2026 outlook

Scout24 reported strong third-quarter results on Wednesday, November 4, 2026, and tightened its full-year revenue outlook. In its corporate announcement, Scout24 said group revenue increased 19.7% year over year to 198.2 million euros. Nine-month revenue reached 570.5 million euros, up 17.9%.

Organic revenue growth excluding the Spanish business remained in double digits at 10.1% in the quarter and 10.4% for the first nine months. The Professional segment grew 23.3% to 146.7 million euros, while Private revenue advanced 10.5% to 51.6 million euros. Subscription growth in the Private segment accelerated to 10.4%.

Profit growth and AI expansion

Ordinary operating EBITDA increased 15.9% to 120.8 million euros in the third quarter. The reported margin was 60.9%, while the organic margin expanded by 0.4 percentage points to 63.3%. Scout24 attributed the progress to process efficiency, automation and rising AI adoption, although higher marketing expenses and increased impairment losses on receivables moderated margin expansion during the quarter.

Adjusted earnings per share rose 21.5% year over year to 1.09 euros. Basic earnings per share fell 26.5% to 1.03 euros, mainly because the prior-year quarter included a one-off positive tax effect. The company said higher-value Pro and Unlimited memberships represented around 40% of the membership mix. More than 10,000 professional customers used ImmoPoints in September, with usage up more than 30% year over year.

Chief Executive Ralf Weitz said the Agentic OS strategy was supporting customer value and new AI applications across the real-estate platform. The company highlighted its AI-powered Application Assistant for consumers and Proppi, an AI assistant for agents, as products intended to improve engagement and monetisation.

Guidance moves to upper range

Scout24 now expects full-year 2026 revenue growth of about 18%, compared with its previous range of 16% to 18%. The updated view includes an inorganic contribution of 7 to 8 percentage points from Spain, versus the prior 6 to 7 percentage points. Management maintained its target for an ordinary operating EBITDA margin of up to 61%, or up to 64% on an organic basis.

Scout24 stock traded at 90.00 euros on Lang & Schwarz at 11:42 CET on Monday, November 9, 2026, 1.01% above the Xetra close of Friday, November 6. The latest company update therefore leaves investors focused on whether subscription growth, Spanish integration and AI-led products can sustain the higher end of the outlook.

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