SoFi shares rise as record revenue, member growth drive strong Q3 results
Introduction & Market Context
Vimian Group AB (STO:VIMIAN) reported strong third-quarter results on October 22, 2025, with revenue climbing 19% year-over-year to €104.3 million. The animal health technology company’s stock responded positively to the earnings announcement, rising 8.24% to €32.06, reflecting investor confidence in the company’s growth trajectory and strategic initiatives.
The company, which operates across four segments – Specialty Pharma, MedTech, Veterinary Services, and Diagnostics – delivered 9% organic growth, demonstrating its ability to expand its core business while also executing on its acquisition strategy. Particularly noteworthy was the return to organic growth in the MedTech segment, which had previously faced challenges.
Quarterly Performance Highlights
Vimian’s Q3 2025 presentation highlighted continued strong performance in its Specialty Pharma and Veterinary Services segments, while MedTech showed signs of recovery. The company’s adjusted EBITA grew by 17% to €25.5 million, though the margin slightly decreased to 24.5% from 25.0% in the prior year period.
As shown in the following revenue and adjusted EBITA development chart, Vimian has maintained consistent growth over the past several years:
Specialty Pharma remained the standout performer with 11% organic growth and 14% adjusted EBITA growth. The segment generated €46.2 million in revenue and €13.6 million in adjusted EBITA, maintaining a strong margin of 29.5%.
The MedTech segment, which had previously struggled, returned to organic growth with a 5% increase and delivered an impressive 26% adjusted EBITA growth. This segment benefited from the company’s strategic acquisitions in veterinary dentistry.
Veterinary Services continued its positive momentum with 11% organic growth and 4% adjusted EBITA growth, adding 240 new member clinics during the quarter. Meanwhile, the Diagnostics segment achieved 4% organic growth despite lower levels of disease outbreaks but experienced a 36% decline in adjusted EBITA as the company invested in new products and personnel.
Detailed Financial Analysis
Vimian’s income statement revealed significant improvements across key metrics. Operating profit (EBIT) increased by 73% to €17.5 million, representing a margin of 15.1% compared to 13.6% in Q3 2024. Profit before tax jumped to €13.4 million from just €0.7 million in the prior year period, while the company swung to a net profit of €6.8 million from a loss of €1.9 million.
The company’s cash flow from operating activities was €10.8 million, down from €16.7 million in Q3 2024, primarily due to higher tax payments. Cash flow from investing activities improved significantly to -€5.1 million compared to -€89.2 million in the prior year period, which had included major acquisitions.
Vimian maintained a stable financial position with net debt of €253.5 million and a leverage ratio (Net Debt/LTM Proforma Adjusted EBITDA) of 2.1x, well within the company’s target of a maximum 3.0x.
Strategic Initiatives
Acquisitions remain a key growth driver for Vimian, with the company having completed 44 acquisitions since 2021, adding approximately €170 million in proforma revenue. The company has been particularly focused on building a global leader in veterinary dentistry, with recent acquisitions including iM3, Dental Focus, AllAccem, and David Al.
Cross-selling initiatives represent a significant contributor to Vimian’s organic growth. The company has 16 ongoing cross-selling initiatives and plans to launch 8 more in 2026. According to the presentation, 49% of the company’s year-to-date organic growth from cross-selling came from bringing products to new channels, while 35% came from substituting non-proprietary products.
Product innovation continues to be a priority, with 21 new products launched in Q3 2025 alone and 62 products launched year-to-date. The company has also focused on educational initiatives, having educated over 25,000 veterinarians year-to-date.
Sustainability has gained prominence in Vimian’s strategy, with the company improving its ESG ratings. Sustainalytics now places Vimian in the ’low risk’ category, ranking among the top 7% of companies in the global pharmaceuticals industry, while its MSCI rating improved to AA.
Forward-Looking Statements
Vimian remains optimistic about its future prospects, highlighting in its concluding remarks that it is well-positioned in the current geopolitical landscape. The company plans to accelerate efforts to expand and progress its M&A pipeline while continuing to strengthen performance in orthopedics.
Management emphasized its commitment to maintaining strong organic growth, particularly in the Specialty Pharma segment, which it views as a double-digit organic growth business. The company also plans investments in new geographies for its Veterinary Services segment.
While the presentation did not provide specific numerical guidance for the remainder of 2025, analysts tracked by Investing.com expect earnings per share to reach $0.11 for the full fiscal year, with revenue growth forecast at 13%. The company’s strong Altman Z-Score of 9.8 suggests minimal financial distress risk, supporting its ambitious growth plans.
As Vimian continues to execute on its growth strategy through both organic initiatives and strategic acquisitions, investors will be watching closely to see if the company can maintain its momentum and achieve its long-term target of €300 million in adjusted EBITA by 2030.
Full presentation:
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