QSYSNasdaq StockholmScientific & Technical InstrumentsIFRS · SEK

Qualisys Holding

Qualisys Holding AB is a Swedish company focused on motion capture and precise motion measurement systems. Its business combines high-speed cameras, software, and related services to help customers analyze the movement of humans, animals, and objects across research, engineering, and entertainment applications.

Revenue254.2bn SEK
+99,900.0 %y/y
Operating profit (EBIT)50.3m SEK
+0.2 %y/y
EBIT margin0.0%
−19.7 ppy/y
Net income39.8bn SEK
+0.0 %y/y

Fiscal year 2025 · change from previous year

Development 2023–2025

0100200300bn SEK2023: 0.25 bn SEK2023: EBIT 0.05 bn SEK20232024: 0.25 bn SEK2024: EBIT 0.05 bn SEK20242025: 254.2 bn SEK2025: EBIT 0.05 bn SEK2025TTM 2026: 0.25 bn SEKTTM 2026: EBIT 0.04 bn SEKTTM0.250.04
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Motion capture hardware45 %

Cameras and related hardware used to record precise movement data.

Software and licenses20 %

Software tools and licenses used to capture, process, and analyze motion data.

Services and support20 %

Installation, repair, maintenance, training, and support agreements.

Custom development and integration10 %

Customer-specific system solutions and development work built around the platform.

Third-party solutions and accessories5 %

Complementary products and accessories sold alongside the core system.

Customers

Qualisys sells to customers that need accurate motion measurement for research, product development, and specialized applications. The customer base spans life science, engineering, and entertainment users, with purchases often tied to integrated system projects and multi-year service relationships.

Life Science

Research and clinical-adjacent users buying motion capture systems for precise measurement and analysis.

Engineering

Industrial and technical customers using the systems for product development, testing, and analysis.

Entertainment

Media and production customers using motion capture for creative and performance applications.

Research institutions

Universities and labs that buy systems for scientific motion analysis and experimentation.

System integrators and channel partners

Partners that help deliver or embed Qualisys solutions in larger customer projects.

Strategy

Qualisys is focused on strengthening its position in motion capture through product development, system integration, and broader application coverage. The company also emphasizes local market presence and aims to complement project-based sales with subscription-based revenue streams over time.

Technological leadershipMedium term

Higher precision and reliable data quality support differentiation and customer trust.

Geographic expansion and local presenceMedium term

Regional expertise improves customer relationships and supports sales in key markets.

Platform scalabilityLong term

Reusing the same technology platform helps spread development costs across more use cases.

Recurring revenue mixMedium term

Subscription-based streams can smooth project volatility and deepen customer relationships.

Geography

Qualisys is headquartered in Sweden and operates through a global footprint that includes North America, Asia Pacific, and China. Its reported revenue is concentrated in the Americas and EMEA, reflecting a business that depends on regional sales presence, local support, and application-specific customer relationships.

Risks

Qualisys faces supply-chain risk because its proprietary products depend on semiconductor and other components that can be difficult to source. It also operates across multiple geographies and regulated applications, which creates exposure to compliance changes, geopolitical shifts, and talent competition in a specialized technology market.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Component supply disruption1Geopolitical and regional demand volatility2Regulatory compliance across applications3Talent acquisition and retention4
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. Component supply disruptionImpact: HighLikelihood: Medium

    The company uses semiconductors and other sourced components in proprietary products.

    Exposure: Hardware production and delivery schedules

  2. Geopolitical and regional demand volatilityImpact: MediumLikelihood: High

    A global sales footprint makes the company sensitive to regional disruptions and market shifts.

    ExposureAmericasEMEAAPAC sales
  3. Regulatory compliance across applicationsImpact: MediumLikelihood: Medium

    Different geographies and use cases have different rules, including medical-device requirements.

    Exposure: Sales into regulated markets and product approvals

  4. Talent acquisition and retentionImpact: MediumLikelihood: Medium

    The business depends on highly qualified technical employees in a competitive labor market.

    ExposureR&DProduct developmentCustomer support

Accounting

Judgemental items
Revenue recognition by performance obligation

Contracts can include hardware, software, installation, training, and service elements with different timing.

Impact: Affects revenue timing and quarterly comparability

Goodwill impairment testing

Recoverable amount depends on management assumptions for growth, inflation, and discount rate.

Impact: Can materially affect intangible asset carrying values

Expected credit losses

Trade receivables are subject to lifetime loss allowances under a simplified ECL model.

Impact: Affects provisions and receivable valuation

Lease accounting

Premises and vehicle leases create right-of-use assets and lease liabilities.

Impact: Affects balance sheet leverage and operating cost presentation

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Qualisys Holding (XSTO) – Scientific & Technical Instruments | Financial Analysis – Clarifo