# Nepa > 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/nepa). ## Overview Nepa AB (publ) is a Swedish marketing intelligence company that helps brands measure and optimize the impact of their marketing activities. Its business combines recurring subscription products with project-based advisory work across brand tracking, campaign evaluation, media mix modeling, customer experience, and innovation research, delivered through an international group structure. ## Products & services • Brand tracker subscriptions • Ad tracker subscriptions • Continuous Marketing Mix Modeling • Campaign Evaluation and Category Insight • Market Segmentation advisory • Customer Experience and Innovation Acceleration • Panels and tracking products - **Marketing Optimization** (86%) — Subscription and advisory services for brand tracking, ad tracking, and marketing mix modeling. - **Other** (14%) — Customer experience, innovation, panels, and related tracking/advisory services. - Brand tracker subscriptions - Ad tracker subscriptions - Continuous Marketing Mix Modeling - Campaign Evaluation and Category Insight - Market Segmentation advisory - Customer Experience and Innovation Acceleration - Panels and tracking products ## Customers Nepa sells to marketing managers, insight teams, and brand owners that need ongoing measurement of brand health, campaign effectiveness, and market dynamics. Its client base spans well-established brands across multiple industries, with a mix of recurring subscribers and customers buying ad hoc research or advisory projects. - **Enterprise brand owners** (primary) — Buy brand tracking, ad tracking, and marketing mix modeling to guide brand investment decisions. - **Marketing and insight departments** (primary) — Use recurring subscriptions and dashboards to monitor campaign performance and market shifts. - **Ad hoc research clients** (secondary) — Purchase campaign evaluation, segmentation, and category insight projects when specific decisions arise. - **Customer experience and innovation teams** (secondary) — Buy tracking and advisory services to measure customer journeys and test new ideas. - Marketing managers seeking brand and campaign measurement - Insight departments needing recurring tracking and analytics - Brands buying subscription-based marketing intelligence - Clients purchasing ad hoc research and advisory projects - Large enterprise customers across multiple industries - Subscribers that expand usage through additional services ## Geography Nepa operates from the Nordics with additional presence in the UK, US, and India, and it serves clients in more than 50 markets across all continents. The business is therefore geographically diversified, but its delivery model depends on coordinating research, analytics, and client service across multiple regions. - Nordics are a core operating base and client market - UK, US, and India support international delivery and sales - Clients are tracked in more than 50 markets worldwide - Global footprint reduces dependence on any single country - Cross-border delivery requires coordinated research and analytics ## Strategy Nepa is focused on shifting its mix toward recurring revenue, especially ARR and subscription-based marketing intelligence. It is also simplifying its operating model and tracking platform so that delivery becomes more scalable, more consistent, and more focused on product innovation. - **Increase recurring revenue mix** (short-term) — Recurring subscriptions provide more predictable revenue and better customer lifetime value. - **Improve scalability of delivery** (medium-term) — Simpler platforms and less customization reduce delivery complexity and support growth. - **Strengthen commercial focus** (short-term) — A refined customer profile and better go-to-market execution should improve bookings quality. - Grow ARR and subscription revenue - Improve retention and net revenue retention - Reduce dependence on customized, low-scalability work - Simplify the operating model and cost base - Consolidate tracking platforms and technology - Strengthen product innovation and commercial execution ## Risks Nepa’s business depends on retaining qualified personnel, maintaining product relevance, and converting client interest into recurring contracts. Demand can also be cyclical because marketing and research spending is sensitive to macroeconomic conditions, while the company’s mix of subscriptions and project work creates variability in reported revenue. - **Dependence on qualified personnel** [high] — The business relies on analysts, researchers, and client-facing specialists to deliver insights. - **Macroeconomic sensitivity of client budgets** [high] — Marketing and research spending can be delayed when customers face uncertainty. - **Customer concentration** [medium] — A limited number of large clients can still influence revenue trends. - **Technology and platform execution risk** [medium] — Legacy systems and technical complexity can increase delivery effort and limit scalability. - Dependence on qualified personnel for research and client delivery - Client spending can slow in weak macroeconomic conditions - Project revenue is more volatile than subscriptions - Legacy platform complexity can hurt scalability - Customer concentration remains relevant despite diversification ## Accounting Nepa’s results are affected by the split between subscription revenue and ad hoc project revenue, which can shift revenue timing and comparability between quarters. Investors should also watch impairment testing of intangible assets, lease accounting, and estimates tied to receivables and group-company balances, since the company operates with a service-heavy model and a multi-entity structure. - **Revenue mix and timing** — Affects quarterly revenue comparability and trend analysis - **Intangible asset impairment** — Could affect reported assets and earnings if assumptions weaken - **Lease accounting** — Influences EBITDA, depreciation, and lease liabilities - **Intercompany eliminations** — Important for consolidated revenue and balance sheet presentation - Subscription vs ad hoc mix affects revenue timing and comparability - Quarterly seasonality can distort short-term trend analysis - Intangible asset impairment is relevant for software and platform assets - Lease accounting affects reported assets and liabilities - Receivables and intercompany balances require judgment and elimination --- *Last updated: 2026-08-11T04:04:54.762445+00:00*