QPR Software (QPR1V) H1 2026 earnings summary

Executive summary

• Revenue for January–June 2026 increased by 7% year-over-year to EUR 3,093 thousand, driven mainly by a one-off sale of regional IP rights, while SaaS revenue declined 3% due to customer churn.

• Profitability improved significantly: EBITDA rose to EUR 533 thousand from EUR -216 thousand, and net result turned positive at EUR 146 thousand versus EUR -720 thousand a year earlier.

• Cash flow from operating activities improved to EUR 1,122 thousand from EUR -557 thousand.

• Secured a major new public sector customer in North America and expanded the partner network.

Financial highlights

• SaaS revenue for H1 2026 was EUR 1,318 thousand, down 3% year-over-year; Q2 SaaS revenue fell 10% due to contract terminations.

• Software license revenue surged 605% to EUR 744 thousand, mainly from the IP rights sale.

• Consulting revenue dropped 51% to EUR 245 thousand, reflecting reduced resources post-IP sale.

• EBITDA margin improved to 17.2% from -7.4% year-over-year.

• Earnings per share for H1 2026 were EUR 0.007, up from EUR -0.037.

Outlook and guidance

• SaaS revenue for full-year 2026 is expected to be lower than 2025 due to recent contract terminations; EBITDA is expected to improve year-over-year.

• Market environment remains challenging with slow customer decision-making and significant quarterly variations expected.

• Geopolitical tensions and economic uncertainty are expected to impact international operations.