Voi reports another record quarter for revenue and profitability. Net sales rose 53 per cent to 88.2 million euros and adjusted EBITDA increased by 14.6 million euros to 31.0 million euros.
Net sales, MEUR
+53% vs Q3 2025
Adjusted EBITDA, MEUR
16.4 Q3 2025
Rides, thousands
37,369 Q3 2025
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Net sales | 88.2 | 57.5 | +53% |
| Vehicle profit | 57.9 | 36.2 | +60% |
| Adjusted EBITDA | 31.0 | 16.4 | +90% |
Record quarter
Voi completed 53 million rides during the quarter, almost half of all rides in the whole of 2025. Revenue per vehicle per day rose 10 per cent compared with the same quarter last year, despite 40 per cent more active vehicles. Cash flow from operating activities reached a record 33.4 million euros (19.8). On a rolling twelve-month basis, net sales are 241 million euros and adjusted EBITDA 54 million euros.
A stronger balance sheet
Voi has signed a revolving credit facility of 150 million euros with Danske Bank, Swedbank and DNB. The money has been used to redeem the company's outstanding bonds early and refinance the previous credit facility, and will be used for investments in the vehicle fleet. The redemption was completed on 19 October 2026. Leverage, interest-bearing net debt relative to rolling twelve-month adjusted EBITDA, fell to 0.94 times from 1.76 times at the end of the second quarter. The company expects a significantly lower cost of capital next year.
The markets
- Revenue in the United Kingdom rose 139 per cent to 15.0 million euros (6.3).
- So far this year, France is less than one million euros behind the United Kingdom in revenue.
- Voi's largest city accounted for less than 10 per cent of revenue during the quarter.
- Germany has started moving to tenders. Frankfurt, which Voi won earlier this year, was the first major city and Berlin is expected to follow.
A stock market listing in 2027?
According to Breakit, Voi is now eyeing the Stockholm Stock Exchange. “Next year we will have opportunities for a listing if we choose to,” CFO Mathias Hermansson tells Breakit.
Source: Voi Technology AB's report for the third quarter of 2026 (22 October 2026) and Breakit (22 October 2026).
