QPR SOFTWARE PLC STOCK EXCHANGE RELEASE October 30, 2026, at 9:00 AM EET
QPR Software Plc Business Review January-September 2026: SaaS net sales decreased by 5%, software net sales increased by 4% and total net sales decreased by 4%. EBITDA improved to EUR 678 thousand (81). The growth in software net sales and the improvement in profitability were significantly supported by a one-off licence revenue, recognised earlier in the year, from the sale of regional intellectual property rights to the QPR Metrics software.
This business review is not an interim report in accordance with IAS 34. The financial information in this review is unaudited.
JULY-SEPTEMBER 2026
- The company's SaaS net sales decreased by 9%.
- Software net sales decreased by 24%.
- Net sales decreased by 26% to EUR 1,085 thousand (1,473).
- EBITDA was EUR 145 thousand (297), a decrease of EUR 152 thousand from the comparison period.
- Operating result was EUR -14 thousand (97), a decrease of EUR 111 thousand from the comparison period.
- Result for the period was EUR -23 thousand (81), a decrease of EUR 104 thousand from the comparison period.
- Earnings per share were EUR -0.001 (0.004).
- Cash flow from operating activities was EUR -445 thousand (-440), a decrease of EUR 5 thousand from the comparison period.
JANUARY-SEPTEMBER 2026
- The company's SaaS net sales decreased by 5%.
- Software net sales increased by 4%. The growth was mainly due to the sale of regional intellectual property rights to the QPR Metrics software to Leaders Solutions, from which EUR 616 thousand in licence revenue was recognised.
- Net sales decreased by 4% to EUR 4,178 thousand (4,374).
- EBITDA was EUR 678 thousand (81), an increase of EUR 597 thousand from the comparison period.
- Operating result was EUR 155 thousand (-613), an improvement of EUR 768 thousand from the comparison period.
- Result for the period was EUR 123 thousand (-639), an improvement of EUR 762 thousand from the comparison period.
- Earnings per share were EUR 0.006 (-0.033).
- Cash flow from operating activities was EUR 618 thousand (-997), an improvement of EUR 1,615 thousand from the comparison period.
OUTLOOK FOR 2026 (Unchanged)
Based on the current contract portfolio and market outlook, the company estimates that its SaaS revenue for the 2026 financial year will be lower than in the previous financial year. The company estimates that SaaS revenue from QPR ProcessAnalyzer will remain at the level of the previous financial year.
The company expects EBITDA to be positive and higher than in the previous financial year.
Due to the nature of the business and long sales cycles, quarterly variations may be significant.
The company expects its operating environment to vary by region during the 2026 financial year, with economic growth forecast to remain moderate in several markets. Geopolitical tensions, trade policy risks, and political uncertainty increase uncertainty in the international business environment.
CEO REVIEW
Business development
In the third quarter of 2026, our net sales and profitability were weaker than in the comparison period, but EBITDA remained positive. SaaS net sales were reduced by the termination of two significant customer agreements, which we reported in our profit warning in August. Profitability for January-September improved clearly from the comparison period. This was largely due to the sale of regional intellectual property rights to the QPR Metrics software earlier in the year, from which a one-off licence revenue was recognised.
This year, we have developed our core product, QPR ProcessAnalyzer, to meet companies' needs as they use AI, and the first signs are promising. Our new AI solutions have been well received by both existing and potential customers, and enquiries from large international companies have increased clearly. The market remains challenging and customer decision-making slow, and the increased interest is not yet reflected in our net sales. However, the feedback we have received strengthens our confidence in the direction we have chosen.
Product development and growth opportunities
For AI to support business decision-making, it must understand how work actually flows in a company: where delays occur, where work is redone, and how deviations affect the outcome. Process intelligence gives AI this information, and integrating process intelligence with companies' AI solutions is a key focus of our product development.
In September, we also brought the QPR ProcessAnalyzer MCP (Model Context Protocol) interface, which serves AI applications, to our Snowflake Native App. It enables customers to use process data directly in Snowflake's AI agents without moving data to a separate environment. This makes deployment easier and makes process intelligence available to a wider range of users than before.
After the review period, we launched QPR AI Agent Mining for Snowflake, a solution that applies process mining to analysing how AI agents operate. It helps companies identify unnecessary work, excess costs and errors in the operation of their AI agents. The solution also lets us reach a new user group: companies' AI and development teams. The first customers have started trial use of the solution.
The new solutions complement each other: we help AI understand the business, and help companies understand how their AI operates. We see this as a significant growth opportunity for QPR.
Focus areas for the rest of the year
We believe that process intelligence will become more important as companies adopt AI more widely. For the rest of the year, we will focus on commercialising our new solutions and, together with Snowflake and our international partners, turning the increased interest into customer agreements. Our goal is to strengthen profitability through growth in recurring net sales and cost-efficient operations.
I would like to thank our customers and partners for their trust and good cooperation, our shareholders for their continued support, and our personnel for their commitment and work in developing the company.
Matti Erkheikki
CEO
NET SALES BY PRODUCT GROUP
| EUR in thousands | July-Sep, 2026 | July-Sep, 2025 | Change, % | July-Sep, 2026 | July-Sep, 2025 | Change, % | Jan-Dec, 2025 |
| Software licenses | 37 | 177 | -79 | 781 | 282 | 177 | 334 |
| Renewable software licenses | 43 | 82 | -47 | 272 | 294 | -7 | 314 |
| Software maintenance services | 271 | 341 | -21 | 828 | 1,056 | -22 | 1,330 |
| SaaS | 631 | 694 | -9 | 1,949 | 2,060 | -5 | 2,769 |
| Consulting | 104 | 180 | -42 | 348 | 683 | -49 | 873 |
| Total | 1,085 | 1,473 | -26 | 4,178 | 4,374 | -4 | 5,619 |
CONSOLIDATED COMPREHENSIVE INCOME STATEMENT (RESTATED)
| Restated | Restated | ||||||
| EUR in thousands, unless otherwise indicated | July-Sep, 2026 | July-Sep, 2025 | Change, % | July-Sep, 2026 | July-Sep, 2025 | Change, % | Jan-Dec, 2025 |
| Net sales | 1,085 | 1,473 | -26 | 4,178 | 4,374 | -4 | 5,619 |
| Other operating income | 60 | 1 | - | 112 | 1 | - | 1 |
| Materials and services | 201 | 235 | -15 | 655 | 746 | -12 | 933 |
| Employee benefit expenses | 513 | 621 | -17 | 2,016 | 2,330 | -13 | 3,044 |
| Other operating expenses | 286 | 320 | -11 | 941 | 1,219 | -23 | 1,569 |
| EBITDA | 145 | 297 | -51 | 678 | 81 | 741 | 75 |
| Depreciation and amortization | 159 | 200 | -20 | 523 | 693 | -25 | 887 |
| Operating result | -14 | 97 | -115 | 155 | -613 | 125 | -813 |
| Financial income and expenses | -8 | -16 | -50 | -32 | -55 | -43 | -50 |
| Result before tax | -23 | 81 | -128 | 124 | -668 | 118 | -862 |
| Income taxes | -0 | 0 | -614 | 0 | 29 | -100 | -187 |
| Result for the period | -23 | 81 | -128 | 123 | -639 | 119 | -1,050 |
| Profit for the period attributable: | |||||||
| To the Owners' of the Parent Company | -23 | 81 | 123 | -639 | -1,050 | ||
| Earnings per share, EUR (basic and diluted) | -0.001 | 0.004 | -128 | 0.006 | -0.033 | 119 | -0.054 |
| Consolidated statement of comprehensive income: | |||||||
| Result for the period | -23 | 81 | -128 | 123 | -639 | 119 | -1,050 |
| Exchange differences on translating foreign operations | 1 | 0 | 271 | 2 | 2 | 0 | 2 |
| Total comprehensive income | -22 | 80 | -127 | 126 | -636 | 120 | -1,048 |
| *Adjustment to the previous financial period due to a change in the reporting policy of product development activations |
For further information:
QPR Software Plc
Matti Erkheikki
Chief Executive Officer
Puh. +358 40 717 2570
QPR Software in Brief
QPR Software (Nasdaq Helsinki) is a leading player in the Digital Twin of an Organization (DTO) use case and one of the most advanced process mining software companies in the world. The company innovates, develops, and delivers software for analyzing, monitoring, and modeling organizational operations. Additionally, QPR provides consulting services to ensure its customers derive full benefits from the software and associated methodologies.
www.qpr.com
DISTRIBUTION
Nasdaq Helsinki
Key media
www.qpr.com/
