Hemnet Q1 Revenue Falls 25% on New Model

Hemnet Group AB reported Q1 2026 revenue of SEK 247.2 million, a 24.7% YoY decline to SEK 328.5 million.
The drop stems from the “Sell first, pay later” model shifting revenue recognition to sale completion, causing timing impact.
Adjusted EBITDA fell 43.3% to SEK 89.3 million, margin contracting 11.8 points to 36.1%, missing consensus.
Average revenue per paid listing rose 12.2% to SEK 9,109, while paid listings fell 38.3% to 25,400 units.