QPR Software (QPR1V) Q2 2025 earnings summary

Executive summary

• SaaS net sales grew by 1% year-over-year, with QPR ProcessAnalyzer achieving double-digit growth, but total revenue declined by 11% due to lower software license sales and currency headwinds.

• Planned growth investments, especially in marketing, sales, and product development, negatively impacted profitability, resulting in negative EBITDA and net results.

• The company is in a transformation phase, shifting from legacy software to SaaS and cloud-based business, with recurring revenue now comprising 79% of total net sales.

• International expansion advanced, with a new SVP Americas appointed and strengthened presence in the Middle East and Snowflake ecosystem.

Financial highlights

• Net sales for January–June 2025 were €2,901k, down 11% year-over-year; Q2 net sales were €1,382k, down 6%.

• EBITDA for H1 2025 was -€216k (vs. €476k), and operating profit was -€710k (vs. -€34k).

• Net result for H1 was -€720k (vs. -€74k); EPS was -€0.037 (vs. -€0.004).

• Cash flow from operations was -€557k (vs. -€248k); cash and cash equivalents at period end were €1,180k.

• Share issue raised €1.62 million, improving equity ratio to 36.9% (from 10.7%).

Outlook and guidance

• 2025 outlook unchanged: global economic uncertainty and geopolitical tensions continue to challenge the business environment.

• Focus remains on growth investments, especially in the US, Europe, and Middle East, with SaaS revenue expected to grow and EBITDA to remain positive despite investments.

• Commercial breakthroughs in the Snowflake ecosystem are expected to require time and further investment.