NYORDA Reports Higher Q3 Revenue and Adjusted Earnings

NYORDA, the listed group behind Tradedoubler, reported 9% year-over-year revenue growth to SEK 570 million in its third-quarter results announcement on November 3. Adjusted EBITDA reached SEK 28 million, a company-reported increase of 25%.

The July–September 2026 update covers a portfolio extending beyond affiliate marketing into creator partnerships, app marketing, retail media, and AI discovery. It also includes a commercial milestone for EMNA AI, which has signed its first client.

Key Takeaways From the NYORDA Q3 Results

• Partner Marketing and Influencer Marketing both increased revenue and adjusted EBITDA.
• Operating cash flow fell to SEK 10 million from SEK 74 million, with NYORDA citing timing effects in the comparison.
• The results cover the wider group, rather than Tradedoubler’s affiliate network alone.
• EMNA AI’s first-client announcement adds a follow-up to its September market launch.

NYORDA Q3 Financial Results

Figures are in SEK millions. Adjusted EBITDA excludes change-related items; the other rows use the report’s rounded figures.

NYORDA attributed the cash-flow comparison to timing effects in working capital. Cash receipts and payments can move between reporting periods, so operating cash flow should be read separately from the quarter’s earnings improvement.

For January–September, revenue rose 3% to SEK 1.636 billion. Adjusted EBITDA increased to SEK 73 million from SEK 70 million, while unadjusted EBITDA fell to SEK 60 million from SEK 66 million.

Partner and Influencer Marketing Contribute to Growth

The full quarterly report records 8% revenue growth in Partner Marketing and 18% in Influencer Marketing. NYORDA identified its GROW self-service product and the US market as principal contributors within Partner Marketing.

The reporting categories require some context. Metapic sits within Influencer Marketing, while the report combines the other offerings within Partner Marketing. Those business-area figures therefore should not be treated as standalone results for each brand.

NYORDA’s corporate portfolio identifies Tradedoubler with partner marketing and Metapic with creator monetization. Appiness focuses on app growth, Bridge Retail Media connects brands with retailer audiences, and EMNA AI addresses visibility in AI search and discovery.

EMNA AI Adds Its First Client

In his shareholder letter, CEO Matthias Stadelmeyer wrote:

 “We are making progress with EMNA AI, our business focused on AI-driven brand discovery, and have now signed our first client.”

Affiverse’s coverage of EMNA AI’s September market launch explains the offering’s combination of visibility measurement and managed publisher campaigns. It tracks how brands appear in AI-generated recommendations, then uses that information to identify content gaps and organize relevant publisher activity.

That work addresses a different question from conventional conversion reporting. Visibility measurement concerns whether and how a brand appears in an answer. An affiliate transaction report concerns a sale attributed under the program’s tracking rules. Assessing one does not automatically establish the other.

Stadelmeyer discussed the broader strategy in Affiverse’s podcast on AI visibility in affiliate marketing, including publisher influence, customer journeys, and measuring visibility. The episode provides background on the group’s approach; the latest report supplies the financial and client update.

Priorities After Q3

NYORDA reiterated long-term ambitions of annual revenue growth above 10% and an EBITDA-to-gross-profit ratio above 25%. The CEO reported a Q3 ratio of 22.4% on an adjusted basis. That measure uses gross profit as its denominator and should not be confused with an EBITDA margin calculated against revenue.