# Gofore Oyj

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/gofore).

## Overview

Gofore is an international digital transformation consultancy based in Finland. The company specializes in providing digital services and consulting, focusing on building a functional, secure, and equitable digital society. With a workforce of nearly 1,500 experts across 18 offices in Finland, Germany, Austria, Estonia, and Spain, Gofore aims to be a leading European expert in digital transformation. The company is listed on Nasdaq Helsinki and reported a revenue of 186.2 million euros in 2024.

## Products & services

• Digital transformation consulting
• Service design and application development
• Cloud service consulting
• Intelligent industry solutions
• Digital society solutions

- **Digital Society** (58%) — Includes digital services for public sector, health, and safety industries.
- **Intelligent Industry** (42%) — Focuses on digital product development services for industrial companies.

- Digital transformation consulting
- Service design and application development
- Cloud service consulting
- Intelligent industry solutions
- Digital society solutions

## Customers

Gofore serves a diverse range of clients, primarily focusing on the public sector, health and social services, and large corporations in the DACH region. The company's strategic customer base includes long-term partnerships built on trust and deep customer understanding. Gofore's services are highly valued by clients, as evidenced by a high customer satisfaction rate and a significant portion of revenue from returning customers. The company also engages with private sector clients, particularly in industries undergoing digital transformation.

- **Public Sector** (primary) — Digitalization solutions for government and public services.
- **Health and Social Services** (secondary) — Digital transformation services for healthcare and social sectors.
- **Large Corporations** (primary) — Digital product development for industrial and automotive sectors in DACH.
- **Private Sector** (secondary) — Digital transformation consulting for competitive advantage.

- Public sector clients seeking digitalization solutions
- Health and social services organizations in need of digital transformation
- Large corporations in the DACH region focusing on digital product development
- Private sector companies investing in digital transformation for competitive advantage

## Geography

Gofore operates primarily in Finland and the DACH region, with a strong presence in Germany, Austria, and Switzerland. The company has 18 offices across Europe, including in Estonia and Spain, allowing it to serve a wide range of clients. Finland accounts for the majority of its revenue, but the company is actively expanding its operations in the DACH region. This geographic focus supports Gofore's growth strategy and enhances its ability to deliver localized services.

- **Finland** (89%)
- **DACH** (11%)

- Primary operations in Finland and DACH region
- 18 offices across Europe, including Germany, Austria, Estonia, and Spain
- Finland contributes 89% of revenue, with 11% from other countries
- Expansion in DACH region to support localized service delivery

## Strategy

Gofore's strategy focuses on growth through digital society and intelligent industry sectors. The company aims to build on its existing customer base and expand in the DACH region, particularly in the public sector and automotive industry. Strategic priorities include developing long-term partnerships and enhancing service offerings through mergers and acquisitions. Gofore is committed to continuous improvement and innovation to maintain its competitive edge in the digital transformation market.

- **Expand in DACH region** (medium-term) — To increase market presence and serve local clients effectively.
- **Develop strategic partnerships** (long-term) — To create long-term value and trust with clients.
- **Enhance service offerings** (short-term) — To stay competitive and meet evolving client needs.

- Focus on digital society and intelligent industry sectors
- Expansion in DACH region, especially in public and automotive sectors
- Develop long-term strategic partnerships
- Enhance service offerings through M&A

## Risks

Gofore faces several risks, including geopolitical tensions and economic fluctuations that could impact client investment in digital services. The public sector, while more stable, may experience budget constraints affecting IT investments. The private sector is vulnerable to political and economic changes, potentially reducing project budgets. Additionally, the increasing share of fixed-price projects poses a risk due to tighter client budgets and potential cost overruns.

- **Geopolitical tensions** [high] — Could disrupt global markets and client investments.
- **Economic fluctuations** [medium] — May reduce client budgets for digital services.
- **Fixed-price project risks** [medium] — Increased potential for cost overruns.

- Geopolitical tensions affecting global markets
- Economic fluctuations impacting client investments
- Public sector budget constraints limiting IT spending
- Private sector vulnerability to political and economic changes
- Increased risk from fixed-price projects with tight budgets

## Accounting

Gofore's financial statements are influenced by revenue recognition practices, particularly for fixed-price projects. The timing of revenue recognition can affect quarterly results, as projects are often billed over time based on progress. The company must also manage estimates and provisions related to project costs and potential overruns. These accounting practices require careful management to ensure accurate financial reporting and compliance with IFRS standards.

- **Revenue recognition timing** — high
- **Project cost estimation** — medium

- Revenue recognition timing affects quarterly results
- Fixed-price projects require careful cost estimation
- Estimates and provisions for project costs and overruns
- Compliance with IFRS standards for financial reporting

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*Last updated: 2026-08-11T04:04:52.932491+00:00*