QPR Software (QPR1V) Q3 2025 earnings summary

Executive summary

• SaaS net sales grew by 2% year-over-year for January–September 2025, with QPR ProcessAnalyzer showing strong double-digit growth.

• Total net sales declined by 6% year-over-year, mainly due to lower software net sales and currency headwinds.

• Profitability was impacted by significant growth investments, but Q3 saw improved EBITDA and operating profit compared to the prior year.

• A major long-term customer agreement was signed with a Central European financial institution.

Financial highlights

• Q3 2025 net sales: €1,473k (+5% YoY); EBITDA: €297k (up €28k YoY); operating profit: €97k (up €103k YoY).

• Q1–Q3 2025 net sales: €4,374k (-6% YoY); EBITDA: €81k (-€664k YoY); operating loss: -€613k.

• Q3 net result: €81k (vs. -€33k prior year); Q1–Q3 net result: -€639k (vs. -€107k prior year).

• Cash flow from operations Q1–Q3: -€997k (vs. -€226k prior year); cash and cash equivalents at period end: €562k.

• Equity ratio improved to 40.7% (from 11.0% YoY), mainly due to a €1.62m share issue.

Outlook and guidance

• 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 positive EBITDA expected despite these investments.

• SaaS revenue is forecasted to grow, but quarterly fluctuations are expected due to long sales cycles and legacy contract expirations.

• The process mining market is shifting toward platform-based models, with QPR ProcessAnalyzer positioned as the only solution on Snowflake Marketplace.