WITTEDNasdaq HelsinkiSoftware - ApplicationIFRS · EUR

Witted Megacorp Oyj

Witted Megacorp is a Finland-based IT services company that provides software development and technology consulting through a network of in-house experts and subcontractors. Its business is organized around delivering project-based and recurring specialist capacity to clients that need software engineering, product development, and digital delivery capabilities.

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Revenue52.7m EUR
−1.5 %y/y
Operating profit (EBIT)-0.8m EUR
−97.7 %y/y
EBIT margin-1.5%
−0.8 ppy/y
Net income-0.7m EUR
−73.5 %y/y

Fiscal year 2025 · change from previous year

Development 2016–2025

-20020406080m EUR2016: 64 m EUR20162022: 53 m EUR2022: EBIT -0.61 m EUR20222023: 64 m EUR2023: EBIT -1.8 m EUR20232024: 53 m EUR2024: EBIT -0.40 m EUR20242025: 53 m EUR2025: EBIT -0.79 m EUR2025TTM 2026: 71 m EURTTM 2026: EBIT 0.09 m EURTTM710.09
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Software development services55 %

Custom software engineering, application development, and delivery work for client projects.

Technology consulting20 %

Advisory and specialist consulting around software, architecture, and delivery execution.

Staff augmentation and expert resourcing15 %

Provision of named experts and flexible capacity to client teams.

Subcontracted delivery10 %

External specialist capacity used to scale delivery for larger client assignments.

Customers

Witted sells primarily to organizations that need software talent and delivery capacity but do not want to build all capabilities internally. The customer base typically includes companies running digital transformation, product development, and ongoing application work, where access to experienced engineers and flexible staffing is important.

Enterprise and mid-market clients

Buy software development and consulting capacity for internal product and platform work.

Digital transformation programs

Purchase project teams and specialist expertise to accelerate modernization efforts.

Recurring delivery customers

Use ongoing expert resourcing for continuous software maintenance and feature delivery.

Project-based buyers

Engage Witted for defined software initiatives that require flexible staffing.

Strategy

Witted’s strategy centers on growing organically while using acquisitions and delivery scale to expand revenue and improve operating leverage. The company also emphasizes disciplined execution, stronger sales conversion, and maintaining a flexible expert base to support client demand.

Organic growthMedium term

Recurring client demand and new sales are the main drivers of scalable services growth.

Acquisition-led expansionMedium term

Add scale and complementary delivery capability faster than organic hiring alone.

Operational efficiencyShort term

A services model depends on utilization, delivery mix, and cost discipline.

Geography

Witted is headquartered in Finland and operates in a Nordic-oriented market for software services and specialist resourcing. Its reporting highlights a business model that depends on local client demand, access to technical talent, and the ability to serve customers across multiple markets through delivery teams and subcontractors.

Risks

Witted is exposed to cyclical demand in IT services, where client spending can slow quickly if customers delay projects or reduce external consulting. The business also depends on retaining skilled software professionals and managing subcontractor capacity, which affects delivery quality, utilization, and pricing power.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cyclical demand for software services1Talent availability and retention2Customer concentration and project volatility3
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. Cyclical demand for software servicesImpact: HighLikelihood: High

    Customers can postpone development projects when macro conditions weaken.

    Exposure: Project and consulting revenue

  2. Talent availability and retentionImpact: HighLikelihood: Medium

    The company’s output depends on experienced experts and subcontractors.

    Exposure: Delivery capacity and service quality

  3. Customer concentration and project volatilityImpact: MediumLikelihood: High

    Large client accounts or individual projects can affect quarterly revenue trends.

    Exposure: Revenue timing

  4. Execution risk in acquisitionsImpact: Medium

    Purchased businesses must be integrated into sales, delivery, and reporting processes.

    Exposure: Growth strategy

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Accounting

Judgemental items
Revenue recognition for services

Revenue depends on when software work is delivered and billed across projects.

Impact: Quarterly revenue and margin comparability

Seasonality and workday effects

Services revenue can vary with the number of working days and client scheduling.

Impact: Short-term fluctuations in reported growth

Goodwill and intangible assets

Acquisitions may create assets that require periodic impairment testing.

Impact: Balance sheet carrying values and earnings risk

Subcontractor cost recognition

External delivery capacity affects the timing and level of cost of services.

Impact: Gross margin and EBITA

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Last updated: 24/09/2026