QPR1VNasdaq HelsinkiSoftware - ApplicationIFRS · EUR

QPR Software Oyj

QPR Software is a Finnish software company focused on tools for analyzing, modeling, and improving how organizations operate. Its offering combines SaaS, software licenses, maintenance services, and consulting, with customers served through direct sales and partner channels across Finland, Europe, the Middle East, and other international markets.

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Revenue1.2m EUR
−81.2 %y/y
Operating profit (EBIT)-0.2m EUR
−1,150.0 %y/y
EBIT margin-16.1%
−15.8 ppy/y
Net income-0.4m EUR
−401.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-5.0-2.50.02.55.07.510.0m EUR2020: 9.0 m EUR2020: EBIT -0.94 m EUR20202021: 9.1 m EUR2021: EBIT -1.2 m EUR20212022: 7.8 m EUR2022: EBIT -2.8 m EUR20222023: 7.6 m EUR2023: EBIT -0.81 m EUR20232024: 6.6 m EUR2024: EBIT -0.02 m EUR20242025: 1.2 m EUR2025: EBIT -0.20 m EUR20251.2-0.20
RevenueOperating profit (EBIT)
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Business

Share of revenue
SaaS subscriptions52 %

Cloud-based process mining and DTO software delivered as recurring subscriptions.

Software maintenance22 %

Support and maintenance contracts for installed software and platform users.

Software licenses6 %

Perpetual or term license sales for QPR software products.

Consulting services20 %

Advisory and implementation services tied to process improvement projects.

Customers

QPR sells to organizations that want to understand, measure, and improve business processes using software and analytics. The customer base spans public and private sector organizations across more than 40 countries, with demand supported by both direct sales and local partners. Buyers typically use the products to increase process transparency, identify bottlenecks, and support continuous improvement programs.

Public sector organizations

Government and public institutions buy QPR tools to map, monitor, and improve service and process flows.

Private enterprises

Companies use the software to analyze operations, remove bottlenecks, and support digital transformation.

Existing software customers

Installed-base users renew maintenance, support, and SaaS subscriptions to keep the platform in use.

Consulting and implementation clients

Customers buy advisory services to deploy the software and translate insights into process changes.

Partner-sourced international customers

New customers acquired through local partners, especially outside the home market.

Strategy

QPR’s strategy is centered on the Digital Twin of an Organization offering and the international expansion of its process mining SaaS products. The company also emphasizes consulting and partner-led market access so customers can adopt the software and realize value more quickly. This focus aims to strengthen the product mix toward recurring software revenue while scaling beyond the home market.

Grow DTO and process mining SaaS internationallyMedium term

Recurring software revenue is the core of the company’s long-term growth model.

Deepen presence in Europe and the Middle EastShort term

These regions are highlighted as the main focus for growth investment and direct sales coverage.

Scale through partner channelsMedium term

Local partners extend market reach and reduce the need for a large direct-sales footprint in every country.

Geography

QPR reports its business by Finland, the rest of Europe including Turkey, and the rest of the world. It has direct sales staff in Finland and Saudi Arabia, with growth efforts concentrated in Europe and the Middle East and additional customer acquisition through partners in North America. The structure gives the company a broad international footprint while keeping local market access dependent on partner execution in many countries.

Risks

QPR faces typical software-company risks around product competitiveness, customer retention, and execution in international markets. Its business is also exposed to foreign exchange movements, credit risk on international receivables, and the challenge of converting consulting-led engagements into recurring software revenue.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Product competitiveness risk1International market execution risk2Information security and product integrity risk3Foreign exchange risk4Credit risk on international customers and partners5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Product competitiveness riskImpact: HighLikelihood: Low

    The company must keep its software differentiated to win against other analytics and process-mining vendors.

    Exposure: DTO and process mining SaaS

  2. International market execution riskImpact: HighLikelihood: Low

    Growth depends on direct sales and partners across many countries, which increases go-to-market complexity.

    ExposureEuropeMiddle EastNorth America
  3. Information security and product integrity riskImpact: HighLikelihood: Low

    Software and SaaS businesses depend on secure systems and reliable product performance to retain customers.

    Exposure: Cloud services and software platforms

  4. Foreign exchange riskImpact: MediumLikelihood: Low

    The company invoices in multiple currencies and reports that USD and AED are meaningful billing currencies.

    Exposure: Receivables and cash flows

  5. Credit risk on international customers and partnersImpact: MediumLikelihood: Low

    A broad geographic footprint increases exposure to payment delays or defaults from individual counterparties.

    Exposure: Trade receivables

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Accounting

Judgemental items
Revenue recognition by contract type

Different revenue streams are recognized at different times, affecting comparability across periods.

Impact: Licenses, SaaS, maintenance, and consulting

Contract assets and contract liabilities

These balances show timing differences between service delivery and invoicing.

Impact: Working capital and reported revenue timing

Deferred tax assets

Recognition depends on expected future taxable profits, which requires judgment.

Impact: Balance sheet and tax expense

Foreign currency measurement

Receivables and cash flows in USD and AED can move with exchange rates.

Impact: Reported receivables and financial income/expense

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Last updated: 24/09/2026