On Wednesday, the e-commerce company Rugvista presented its interim report for the third quarter of 2026. Net sales for the period amounted to SEK 194.6 million, representing an increase of 17 percent compared to the same quarter last year. Organic growth landed at 16 percent.
Profitability also strengthened significantly during the period. Operating profit nearly tripled to SEK 34.6 million, compared to SEK 11.9 million last year. This translates to an operating margin of 18 percent, up from 7 percent the previous year. The company's CEO, Ebba Ljungerud, summarizes the period in the report:
Rugvista concluded the third quarter with continued good growth and improved profitability. A strong quarter, especially considering that we are facing strong comparative figures from the previous year.
Higher average order value drives sales
A key explanation for the increased sales is that customers are spending more money per purchase occasion. The average order value increased by 11 percent to SEK 3,274, while the number of orders increased by 4 percent to just over 83,600.
The development follows the same pattern as in the second quarter, when rising average order values were also a central driver behind the company's growth. According to Ebba Ljungerud, this is the result of deliberate work on both range and website.
Growth came from both more orders and a higher average order value. The higher order value comes from several parts of the business, including assortment mix, pricing and the changes we have made to the customer experience.
Developing with AI agent support
In the report, Rugvista places great emphasis on how artificial intelligence is changing both internal work and how customers are expected to shop in the future. As early as spring, the company highlighted how future visibility is about getting AI models to trust the company's product data.
Now, Ebba Ljungerud notes that the technology has also taken over a significant part of the daily development work internally at Rugvista:
The majority of our development work is now carried out entirely or largely with the support of AI agents, which increases the pace at which we can develop, test and iterate. At the same time, we are improving technology, product data and content for a search and commerce landscape where AI plays a greater role in how customers find, compare and choose products.
Self-criticism regarding declining customer ratings
Despite the financial success, management highlights one area where development has gone in the wrong direction during the quarter. Customer satisfaction, measured via the review site Trustpilot, fell slightly to 4.5, compared to 4.6 during the corresponding period last year.
To reverse the trend, the company will now review several steps in the purchasing experience, including search functions, product visualization and the checkout flow. Ebba Ljungerud comments on the declining rating:
Our Trustpilot rating was 4.5. Although the level is still high, we are not satisfied with the direction. We are closely monitoring developments and focusing on the parts of the customer journey where we can improve.
Anticipating cost increases and monitoring the world
During the quarter, the gross margin strengthened to 68 percent, compared to 63 percent last year. However, Rugvista flags that the cost increases from suppliers announced in the spring have not yet fully impacted the company's cost of goods sold, as inventory is gradually turned over.
Looking ahead, the company sees a slightly more positive market as consumer purchasing power recovers in several parts of Europe, but at the same time warns of continued challenges in the supply chains. Ebba Ljungerud concludes with an assessment of the market situation:
The global picture has brightened somewhat during the quarter, not least regarding consumer confidence in some of our markets, but developments are still uneven between countries. At the same time, geopolitical uncertainty remains and there is a risk of impact on energy, freight and input costs.