Scout24 AG shares dropped 4.4% after the German real estate platform reported Q4 results that met expectations but revealed margin pressure from its pending Spanish acquisition. The company posted €165.7 million in Q4 revenue, up 13.0% year-over-year, with adjusted operating EBITDA reaching €106.1 million, slightly ahead of consensus.

For the full year 2025, Scout24 achieved revenue of €649.6 million, representing 14.7% growth and 11.0% organic expansion. The company's adjusted operating EBITDA margin expanded to 62.5%, while customer numbers grew across both Professional and Private segments, with the Professional segment reaching 26,027 customers, up 5.7% YoY.

to 2026, Scout24 guided for 16-18% revenue growth, including a 6-7 percentage point inorganic contribution from its Spanish acquisition. The company's margin outlook of up to 61% compared unfavorably to analyst expectations of 60.5%, with CEO Ralf Weitz highlighting ecosystem expansion and AI integration as strategic priorities despite near-term margin concerns.