Strong governance is what lets a bold strategy move with confidence. From our ownership structure to our board composition, we ensure that the people overseeing this business have skin in the game. And decades of experience to match.
Investors
Investors
We don’t chase growth. We build it.
We own business
software companies.
And shape them into
market leaders.
After decades of sustained growth, we have earned our position as an owner of business software leaders. Today, we use that foundation of deep industry expertise and compounding results to define what comes next.
Customers
2.9M
↗
28.1% YoY growth
More and more SMBs are choosing Visma, especially in our newer markets
Reached 2.9 million customers at the end of Q3 2026, representing YoY customer growth of 28.1%.
Our National Business Platforms are winning a growing share of smaller businesses and customers in newer markets, creating a meaningful opportunity to grow with them as they scale.
Momentum particularly strong in Continental Europe.
ARR (M EUR)
€3,139
↗
+16.9% year-over-year
↗
+12.9% organic growth
Our Business Platforms keep winning, in the Nordics and beyond
ARR of €3,139 million at the end of Q3 2026, up 16.9% YoY, of which 12.9% organic.
Business segment continues to be the key driver, with Business ARR of €2,577 million, up 18.5% (14.3% organic). The Nordics delivered organic growth close to 10%, with organic growth above 20% in our newer regions.
Nine transactions completed over the first three quarters, with three in Q3 strengthening our offering in France, Italy and Brazil.
Adjusted EBITDA (M EUR)
€865
↗
+18.2% year-over-year
↗
+15.9% organic growth
Organic EBITDA growing ahead of revenue reflecting the inherent operating leverage in the model
Adjusted EBITDA of €865 million for the first three quarters, up 18.2% YoY, of which 15.9% organic.
Adjusted EBITDA margin of 35.6%.
Strong operating leverage from the Business segment, slightly offset by €11 million of non-recurring expenses from the AI repositioning of R&D within the Public segment.
We are AI-first
Automation solution that turns purchase invoices into a revenue engine. Generates more than 40M NOK in new annual revenue.
AI is now Holded’s third largest acquisition channel. Customer acquisition cost 75% lower than traditional paid search.
AI that moves from assistance to delegation. Automating complex accounting for Finnish accounting offices.
Uses AI to interpret documents, suggest accounts and assist with bookkeeping. Saves time and simplifies accounting.
A Virtual CFO for small businesses. Uses peer benchmark data to advise on business optimisation – creating value that goes beyond automation.
AI-native engineering reduced a 4,200-hour app rebuild to 400 hours. A model now being replicated across the group.
The work behind the numbers
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