QPR Software Plc reports growth in SaaS and software revenue, planned turnaround on track.

From GlobeNewswire: 2024-08-02 02:00:00

QPR Software Plc’s Half-Year Report for January-June 2024 shows growth in SaaS and software revenue, with a planned turnaround on track. Financially, SaaS net sales increased by +15% and software net sales by +13%. Despite a 23% decrease in net sales to 1,473 thousand euros, the company saw improvements in EBITDA and operating profit.

Looking at the overall financial development in April-June 2024, QPR Software reported a positive EBITDA of 181 thousand euros, a significant improvement from the same period last year. Net sales saw a decrease of 23% to 1,473 thousand euros, mainly due to the discontinuation of consulting services outside the core business.

CEO Heikki Veijola expressed optimism for the future, highlighting positive milestones achieved in the second quarter, such as expanding agreements with existing clients and increasing international partnerships. QPR Software has also strengthened its position in North America with new partners and expects double-digit growth in SaaS net sales.

QPR Software Plc, known for its process management solutions, was recognized by Gartner in the Magic Quadrant for Process Mining Platforms for the second time. The company’s unique integration with the Snowflake AI Data Cloud service enhances real-time data availability and supports digital transformation projects using AI and machine learning technologies.

With a focus on expanding its global partner network, QPR Software secured new partnerships in the United States, particularly with Snowflake’s customers. The company’s presence in the Middle East has also grown, particularly in the financial sector, laying a strong foundation for continued growth and market share expansion.

Despite the uncertainties in the business environment, CEO Heikki Veijola is optimistic about the future, emphasizing growth opportunities driven by technology, innovation, and strategic partnerships. With the appointment of a new Sales Director, Antti Kivalo, QPR Software aims to further enhance sales and growth, supported by strong customer trust and employee efforts.



Read more at GlobeNewswire:: QPR Software Plc Half Year Financial Report January-June