PSI Software (PSAN) Q1 2025 earnings summary

Executive summary

• Achieved record new orders of €158 million in Q1 2025, up 66.3% year-over-year, with order backlog rising 5.2% to €223 million despite divestiture of Mobility business.

• Revenues increased 35.1% to €67.9 million compared to Q1 2024, with operating result (EBIT) at €2.1 million versus a loss of €14.8 million last year, reflecting recovery from prior cyberattack.

• Net result turned positive at €0.3 million, up from a loss of €16.4 million in Q1 2024; EPS improved to €0.02 from -€1.06.

Financial highlights

• Revenue: €67.9 million (+35.1% year-over-year); Operating result: €2.1 million (vs. -€14.8 million); Net result: €0.3 million (vs. -€16.4 million).

• Cash and cash equivalents at €32.5 million, down 48.3% year-over-year but up from €26.5 million at 2024 year-end; operating cash flow €10.6 million.

• Result before income taxes: €1.5 million (vs. -€15.4 million); EBIT margin improved to 3.2%.

• PSI share price rose 19.9% in Q1 2025, outperforming TecDAX (+5.0%).

Outlook and guidance

• Management expects full-year new orders and revenue growth of around 10% and an adjusted EBIT margin of about 4%, despite ongoing investments in cloud/SaaS products.

• Strategic partnership with Google Cloud marks initial steps in cloud transformation.