Scout24 stock keeps focus on Q3 growth and 18% 2026 outlook

Scout24 reported strong third-quarter growth on November 4, 2026, and tightened its full-year revenue outlook. In its corporate release, Scout24 said revenue growth remained broad-based across its Professional and Private segments, while the Spanish business continued to improve.

Scout24 stock traded at 90.68 euros on Lang & Schwarz at 11:06 CET on Friday, November 13, 2026, 0.52% below the Xetra close of Thursday, November 12. The move places the share below the latest completed Xetra session while investors continue to assess the stronger operating outlook.

Subscriptions support operating momentum

Group revenue reached EUR 198.2 million in the third quarter. Organic growth, excluding the Spanish business, remained in double digits. Ordinary operating EBITDA increased to EUR 120.8 million, while the reported margin stood at 60.9%. Scout24 said higher marketing expenses and increased impairment losses on receivables moderated organic margin expansion during the quarter.

The Professional segment generated EUR 146.7 million of revenue. German subscription revenue grew at a double-digit rate, supported by customer gains, while transaction enablement also accelerated. In the Private segment, revenue increased to EUR 51.6 million as subscription growth gained momentum and higher-value memberships supported average revenue per user.

Adjusted earnings per share reached EUR 1.09, compared with EUR 0.90 a year earlier. The adjusted figure benefited from the company's operating performance and a lower share count following accelerated buybacks. Basic earnings per share declined to EUR 1.03 from EUR 1.41, reflecting a one-off positive tax effect in the prior-year quarter.

AI strategy shapes the outlook

Scout24 said its Agentic OS strategy is expanding the ImmoScout24 ecosystem for consumers and professionals. Higher-value Pro and Unlimited plans accounted for around 40% of the membership mix, while products such as the AI-powered Application Assistant and Propstack's Proppi assistant are designed to raise customer value and create usage-based revenue opportunities.

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

The company also continued its capital allocation programme, repurchasing shares worth EUR 165 million in the third quarter and acquiring the remaining stake in Sprengnetter. These actions supported adjusted EPS growth but also leave investors focused on the balance between buybacks, leverage and further expansion.

Scout24's next scheduled reporting milestone is the publication of preliminary full-year and fourth-quarter 2026 results on February 25, 2027.

German large-cap trading conditions remain relevant for investors following the DAX.

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