Qt Group’s profit decreased, turnover increased

A software company of the Qt Group as expected, the earnings condition deteriorated at the beginning of the year from the comparison period a year ago.

The company’s ebita operating profit fell to 5.0 million euros in January–March from 8.5 million euros in the comparison period. Ebita means operating profit before amortization of intangible assets. Ebit operating profit, on the other hand, fell to 1.5 million euros from 6.5 million euros in the comparison period.

Turnover, on the other hand, grew to 52.7 million euros from 47.2 million euros. The turnover was partly boosted by the company’s IAR Systems acquisition.

Analysts following the company expected ebita operating profit to drop to 4.2 million euros on average. Database Factsetin according to a total of 4 analysts had given a forecast for the result. The turnover analysts expected to settle at an average of 53.2 million euros.

Earnings per share in the beginning of the year were EUR 0.01 per share. It was predicted to drop to 0.02 euros from 0.2 euros in the comparison period.

Customers still cautious

The company kept the instructions it gave in connection with the financial statements unchanged. For the year 2026, Qt has guided for at least 10 percent currency-adjusted turnover growth and at least 15 percent ebita margin.

The company expects profitability to improve in the second half of 2026, supported by the ongoing reorganization of operations and cost savings.

“The geopolitical tension and market uncertainty that prevailed in 2025 continued past the turn of the year, and customers were still cautious about new product development investments, especially in export-dependent industries,” describes the company’s CEO Juha Varelius in the bulletin.

However, the company’s recurring billing turnover continued to strengthen in the first quarter of 2026. ARR turnover grew by 32.7 percent at comparable exchange rates over the past 12 months, which, according to Varelius, shows that long-term customer relationships remain strong despite the challenging operating environment.

According to the company, the integration of IAR into Qt Group is progressing as planned.

“AI-assisted software development is growing rapidly, but industries that use embedded and safety-critical systems face unique challenges in terms of hardware requirements, physical testing, and legislative requirements. Although our customers are already using AI in the development of software code used in production, industry-wide certification and verification standards are just taking shape. Thanks to tools like Squish and IAR Compiler, Qt is well positioned to meet this need.”