Qt Group Plc | Stock Exchange Release | August 6, 2026 at 8:00 am EEST
This release is a summary of Qt Group Plc's Half-Year report for January-June 2026. The complete report is attached to this release as a PDF file, and it is also available on the company's website at www.qt.io/investors.
Second quarter 2026: Net sales grew 19.6%
April - June 2026
- Net sales increased 19.6 percent to EUR 61.3 million (EUR 51.2 million). The effect of exchange rates on the comparison period's net sales was EUR -0.6 million and at comparable exchange rates, net sales increased by 20.9 percent.
- ARR increased to 160.4 million in the second quarter, from 31.3.2026 ARR of 155.9 million, an increase of 2.4 percent at comparable exchange rates.
- Operating profit (EBITA) was EUR 9.3 million (EUR 11.6 million) or 15.1 percent (22.7%) of net sales.
- Operating profit (EBIT) was EUR 6.1 million (EUR 9.6 million) or 9.9 percent (18.8%) of net sales.
- Earnings per share were EUR 0.09 (EUR 0.27).
January - June 2026
- Net sales increased 15.8 percent to EUR 114.0 million (EUR 98.5 million). The effect of exchange rates on the comparison period's net sales was EUR -3.3 million and at comparable exchange rates, net sales increased by 19.8 percent.
- ARR increased to EUR 160.4 million (EUR 119.9 million), an increase of 32.1 percent from 30.6.2025 at comparable exchange rates.
- Operating profit (EBITA) was EUR 14.3 million (EUR 20.1 million) or 12.6 percent (20.4%) of net sales
- Operating profit (EBIT) was EUR 7.6 million (EUR 16.1 million) or 6.6 percent (16.3%) of net sales
- Earnings per share were EUR 0.11 (EUR 0.46).
The figures in brackets refer to the comparison period, i.e., the corresponding period in the previous year. The percentage of change in net sales at comparable exchange rates is calculated by translating the net sales from the comparison period 2025 with the actual exchange rates of the reporting period 2026 and by comparing the reported net sales in 2026 with the calculated 2025 net sales at comparable exchange rates
Key figures
| EUR 1,000 | 4-6/2026 | 4-6/2025 | Change, % | 1-6/2026 | 1-6/2025 | Change, % | 1-12/2025 |
| Net sales | 61,261 | 51,224 | 19.6% | 113,988 | 98,460 | 15.8% | 216,281 |
| Operating profit (EBITA) | 9,280 | 11,612 | -20.1% | 14,330 | 20,072 | -28.6% | 51,807 |
| EBITA, % | 15.1% | 22.7% | 12.6% | 20.4 % | 24.0% | ||
| Operating profit (EBIT) | 6,059 | 9,605 | -36.9% | 7,556 | 16,057 | -52.9% | 42,537 |
| EBIT, % | 9.9% | 18.8% | 6.6% | 16.3 % | 19.7% | ||
| Return on equity, % | 1.1% | 3.7% | 1.3 % | 6.4 % | 16.4% | ||
| Return on investment, % | 1.8% | 4.4% | 2.2% | 7.7 % | 15.5% | ||
| Interest-bearing liabilities 1 | 126,644 | 7,529 | 1582.1% | 126,644 | 7,529 | 1582.1% | 143,225 |
| Cash and cash equivalents 1 | 42,430 | 91,534 | -53.6% | 42,430 | 91,534 | -53.6% | 40,124 |
| Net gearing, % 1 | 39.6% | -44.3% | 39.6 % | -44.3 % | 49.2% | ||
| Equity ratio, % 1 | 53.6% | 83.2% | 53.6 % | 83.2 % | 50.8% | ||
| Earnings per share (EPS), EUR | 0.09 | 0.27 | -64.4% | 0.11 | 0.46 | -76.5% | 1.25 |
| Diluted earnings per share, EUR | 0.09 | 0.27 | -64.4% | 0.11 | 0.46 | -76.5% | 1.25 |
| Personnel, on average | 1,072 | 903 | 18.7% | 1,099 | 890 | 23.4% | 958 |
1 At the end of period
Juha Varelius, President and CEO
In the second quarter of 2026, net sales were EUR 61.3 million, an increase of 19.6 percent or 20.9 percent at comparable exchange rates. The effect of exchange rates on revenue was EUR -0.6 million. The recurring revenue base continued to strengthen in the second quarter of 2026.
Operating profit (EBITA) was EUR 9.3 million or 15.1 percent of net sales. The on-going reorganization and cost review will support better profitability for the second half of 2026 but burdens the second quarter with EUR 4.3 million.
The ARR on June 30, 2026, amounted to EUR 160.4 million, an increase of 32.1 percent in the last 12 months at comparable exchange rates from June 30, 2025. Increasing recurring revenue indicates a solid foundation for Qt Group's long-term growth.
The challenging geopolitical and macro backdrop continues to keep customers cautious about long-term investment decisions. Even so, the second quarter delivered stable business across Qt Group. We remain a critical part of many customers' production processes, resulting in strong commitment and stable renewals. Strong retention rates, particularly in EMEA and Americas, continue to support long term revenue. Securing new projects remains the key factor for future growth. In new product sales, we are seeing increased activity in the Aerospace & Defense and Medical industries. In the Consumer Electronics sector, we have also secured several important new customers, strengthening our position and creating opportunities for future growth. EMEA delivered the strongest execution of the quarter. Americas remained broadly stable, and APAC delivered a modest overall performance.
Adoption of the subscription licensing model within IAR continued to accelerate across the business in the second quarter, with subscription now representing the majority of bookings within the business unit. Integration of IAR, both in terms of operations and strategy, continues to progress according to plan.
Operational strengthening and cost review
The reorganization measures, launched during the quarter, will improve operational efficiency, responding to the changed market environment, and fully leveraging synergies arising from acquisitions, are being implemented according to plan. In Q2 change negotiations were finalized in Finland, resulting in 56 positions being reduced. Measures were also completed in the United States, and reorganizations are in progress at Qt's other European locations. Globally, the reorganization is expected to result in annual cost savings of at least EUR 20 million and may impact up to 200 positions in total.
During the second quarter, Qt Group decided to discontinue the embedded software security operations provided by IAR. This will lower cost with some EUR 3 million on a yearly basis and have little to no effect on revenue. Besides saving costs, it will support the focus on what is core to the long-term success of the Qt Group.
We remain confident that executing these measures will further strengthen our long-term profitability and competitive position.
Guidance for 2026
Qt estimates that the full-year net sales for 2026 will increase by at least 10 percent year-on-year at comparable exchange rates, and that the operating profit margin (EBITA %) will be at least 15 percent in 2026.
The percentage of change in net sales at comparable exchange rates is calculated by translating the net sales from the comparison period 2025 with the actual exchange rates of the reporting period 2026 and by comparing the reported net sales in 2026 with the calculated 2025 net sales at comparable exchange rates.
News conference
Qt Group will organize a news conference on August 6, 2026, at 10:00 - 11:00 am EEST in Helsinki, Finland, and as a live webcast at www.qt.io/investors. CEO Juha Varelius and CFO Ann Zetterberg will be presenting the results. Analysts and investors can participate in the news conference in person or via conference call:
https://events.inderes.com/qt/q2-2026/dial-in.
Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040
Distribution:
Nasdaq Helsinki
Key media
www.qt.io
About Qt Group
Qt Group (Nasdaq Helsinki: QTCOM) is a global software company, trusted by industry leaders and over 1.5 million developers worldwide to create applications and smart devices that users love. We help our customers increase productivity through the entire product development journey: from UI design to software development, optimizing embedded systems, and quality management. Our customers are in more than 70 different industries in over 180 countries. Qt Group employs some 1100 people, and its net sales in 2025 were 216.3 MEUR. To learn more, visit www.qt.io.
