QPR Expands Presence in the United States – Daniel Hughes Appointed to Lead Operations
QPR Software Plc has appointed Daniel Hughes to lead the company’s business operations in North America. He will be based in the United States, working for...
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CEO Jussi Vasama:
“I am satisfied with the company's fourth-quarter results and progress. SaaS (Software as a Service) revenue grew remarkably by 53% against the comparison period mostly due to a significant contract made to expand process mining SaaS cooperation with a leading global pharmaceutical company at the end of December. Net sales increased compared fourth quarter of 2021 while the operating profit was flat if the write-down for 2021 is not considered.
Consulting revenue was also slightly higher than in the comparison period (+2%).
I’m also very pleased that throughout the year 2022 and in line with the company’s strategy, the SaaS business showed clear growth (+35%). On top of closing new deals with the SaaS subscription model with new customers, we successfully transitioned existing customers into SaaS while simultaneously expanding the business thein value (+45%). Net sales in 2022 fell short of the last year (-14%). EBITDA and operating profit decreased clearly compared with 2021. The most significant factors were the decrease in perpetual licenses and challenges with the Middle East software delivery projects sold during previous years. The revenue of renewable software licenses decreased (-27%) which, however, is in line with our transition to SaaS business.”
October-December 2022 highlights
Chief Marketing Officer at QPR Software
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