QPR Software Half Year Financial Report 2023

H1'23 SaaS net sales increased by 49%, net sales decreased by 2%. EBITDA was positive. Operating profit improved significantly but was still loss-making. The Company announced that it is investigating possibility of implementing a share issue in order to strengthen its capital and financial position.

”The first half of the year generally continued in an uncertain market situation. Regarding the acquisition of new customers, the general economic uncertainty has postponed customers' decisions and the start of new tenders.

Despite the obstacles, the company has achieved a remarkable turnaround evident in its key performance indicators for the year's first half. The strategic actions taken to enhance operational efficiency, optimize cost structures, and boost overall profitability have yielded results.”

Heikki Veijola, CEO

Highlights from the report:

APRIL-JUNE 2023 

• SaaS software business grew +36%
• Net sales amounted to EUR 1,908 thousand, a decrease of 5% (April-June 2022: 2,012)
• EBITDA was EUR 7 thousand (-270)
• Operating result (EBIT) amounted to EUR -231 thousand (-515)  
• Result before taxes was EUR -254 thousand (-526)  
• Result was EUR -249 thousand (-629)
• Earnings per share was EUR -0,015 (-0,039)
  
  

JANUARY-JUNE 2023

• SaaS software business grew +49% (January-June 2022: +24%)
• Net sales amounted to EUR 4,146 thousand, a decrease of 2% (January-June 2022: 4,213)
• EBITDA was EUR 33 thousand (-471)
• Operating result (EBIT) amounted to EUR -455 thousand (-988)  
• Result before taxes was EUR -518 thousand (-1,009)  
• Result was EUR -518 thousand (-1 009)
• Earnings per share was EUR -0,032 (-0,082) 

Read the full report here.

Our CEO Heikki Veijola was interviewed by Inderes today about how QPR’s Q2/2023 went. See the video of the interview here: (Interview is in Finnish)