• GBC set a BUY rating on Smartbroker Holding with a €17.8 target price, citing a shift from investment spending to scaling.
• FY2025 revenue rose 30.1% to €68.28 million; transaction revenue increased to €40.14 million, driven by Smartbroker+.
• Clients climbed to more than 259,000; client assets reached €14.7 billion; trades totaled 6,700,000.
• EBITDA after customer acquisition costs fell to -€330,000 as acquisition costs rose to €9.81 million; EBITDA before those costs was €9.5 million.
• GBC forecast 2026 revenue of €70 million; EBITDA of €500,000; net loss of €8.15 million, expecting profitability to return in 2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Smartbroker Holding AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26228) on July 21, 2026, and is solely responsible for the information contained therein.