“The third quarter of the fiscal year was challenging for QPR Software. During the quarter, the full scale of the challenges with Middle East software delivery projects sold in previous years came to light, which had a significant impact on the quarter's operations and financial results. On September 7, 2022, we issued a negative profit warning and communicated that we would immediately take action to improve profitability. On September 20, we announced the start of change negotiations.
The focus on growing the SaaS business can be seen in a clear 43% increase compared to the comparison period. We have also continued investing especially in process mining product development, strengthening the partner ecosystem, and ensuring the effectiveness of marketing and sales. During the second and third quarters, we have offered our customers new innovative solutions that distinguish us from our competitors in the growing process mining market.” Jussi Vasama, CEO of QPR Software, comments.
Highlights from the report (July–September 2022);
Download the full report here.