Qt Group Plc | Stock Exchange Release | October 29, 2026 at 1:00 pm EET
Third quarter 2026: Net sales grew 27.0%, and EBITA increased despite restructuring costs
This release is a summary of Qt Group Plc's Interim report for January-September 2026. The complete report is attached to this release as a PDF file, and it is also available on the company's website at www.qt.io/investors.
July - September 2026
- Net sales increased 27.0 percent to EUR 51.7 million (40.7 million). The effect of exchange rates on the comparison period’s net sales was EUR +0.3 million and at comparable exchange rates, net sales increased by 26.0 percent.
- ARR increased to EUR 164.1 million in the third quarter, from 30.6.2026 ARR of EUR160.4 million, an increase of 1.8 percent at comparable exchange rates.
- Operating profit (EBITA) was EUR 5.7 million (4.3 million) or 11.0 percent (10.5 percent) of net sales.
- Operating profit (EBIT) was EUR 2.6 million (2.3 million) or 5.0 percent (5.6 percent) of net sales.
- Earnings per share were EUR 0.04 (0.06).
January -September 2026
- Net sales increased 19.1 percent to EUR 165.7 million (139.2 million). The effect of exchange rates on the comparison period’s net sales was EUR -3.0 million and at comparable exchange rates, net sales increased by 21.7 percent.
- ARR increased to EUR 164.1 million (122.0 million), an increase of 32.1 percent from 30.9.2025 at comparable exchange rates.
- Operating profit (EBITA) was EUR 20.0 million (24.4 million) or 12.1 percent (17.5 percent) of net sales
- Operating profit (EBIT) was EUR 10.1 million (18.3 million) or 6.1 percent (13.2 percent) of net sales
- Earnings per share were EUR 0.15 (0.52).
Consolidated key figures
| EUR 1,000 | 7-9/2026 | 7-9/2025 | Change, % | 1-9/2026 | 1-9/2025 | Change, % | 1-12/2025 |
| Net sales | 51,725 | 40,722 | 27.0 % | 165,714 | 139,182 | 19.1 % | 216,281 |
| Operating profit (EBITA) | 5,715 | 4,284 | 33.4 % | 20,045 | 24,356 | -17.7 % | 51,807 |
| EBITA, % | 11.0 % | 10.5 % | 12.1 % | 17.5 % | 24.0 % | ||
| Operating profit (EBIT) | 2,584 | 2,277 | 13.5 % | 10,140 | 18,334 | -44.7 % | 42,537 |
| EBIT, % | 5.0 % | 5.6 % | 6.1 % | 13.2 % | 19.7 % | ||
| Return on equity, % | 0.5 % | 0.8 % | 1.8 % | 7.1 % | 16.4 % | ||
| Return on investment, % | 0.7 % | 1.3 % | 3.0 % | 8.9 % | 15.5 % | ||
| Interest-bearing liabilities 1 | 126,668 | 7,058 | 1694.6 % | 126,668 | 7,058 | 1694.6 % | 143,225 |
| Cash and cash equivalents 1 | 50,181 | 93,947 | -46.6 % | 50,181 | 93,947 | -46.6 % | 40,124 |
| Net gearing, % 1 | 35.9 % | -45.5 % | 35.9 % | -45.5 % | 49.2 % | ||
| Equity ratio, % 1 | 53.6 % | 84.5 % | 53.6 % | 84.5 % | 50.8 % | ||
| Earnings per share (EPS) 2 | 0.04 | 0.06 | - 28.1 % | 0.15 | 0.52 | -71.2 % | 1.25 |
| Diluted earnings per share 2 | 0.04 | 0.06 | - 28.0 % | 0.15 | 0.52 | -71.2 % | 1.25 |
| Personnel, on average | 1,011 | 916 | 10.4 % | 1,069 | 899 | 19.0 % | 958 |
1 At the end of period. 2 Euro
Juha Varelius, President and CEO
In the third quarter of 2026, net sales were EUR 51.7 million, an increase of 27.0 percent, or 26.0 percent at comparable exchange rates. The effect of exchange rates on revenue was EUR 0.3 million. The growth was largely driven by an increase in new sales of developer licenses in EMEA and revenue from the acquisition of IAR.
The EBITA grew despite restructuring costs of EUR 5.3 million in the third quarter, or EUR 9.7 million for January – September. This is our estimated total severance cost to close all negotiation processes. Operating profit (EBITA) was EUR 5.7 million or 11.0 percent of net sales.
The ARR on September 30, 2026, amounted to EUR 164.1 million, an increase of 32.1 percent in the last 12 months at comparable exchange rates from September 30, 2025.
Customers continue to be cautious about long-term investment decisions. Despite this, our solutions remain deeply embedded in many customers' critical production and engineering processes, supporting strong customer commitment and stable renewal performance. Retention rates remain steady, particularly in EMEA and AMER, continuing to support long-term customer value creation. Market uncertainty is reflected in customer purchasing behaviour, with some customers preferring shorter contract terms due to budget constraints.
In new product sales, demand remains strong across the Security, Defense, and Aerospace sectors. We also continue to see increasing demand across industries driven by evolving regulatory frameworks, cybersecurity expectations, and product security requirements, including initiatives such as the Cyber Resilience Act (CRA). Overall, new sales grew during Q3 compared to last year, with particularly strong contributions from EMEA. We increased the share of mid-sized and large customer wins, improving the overall outcome.
This regulatory momentum was reflected in our own product development; during the quarter, Qt 6.12 became our first release with a signed EU Declaration of Conformity under the CRA, giving customers a CRA-assessed foundation backed by five years of Long Term Support.
Integration of IAR
We have now reached one year since the IAR acquisition and the integration has come far. On strategy, IAR is now fully incorporated into Qt Group’s group-wide strategy. Operationally, core group functions have been integrated, with further system harmonization work planned through the remainder of 2026 as well. Adoption of the subscription licensing model within IAR Business Unit accelerated across the business in the third quarter, with subscription representing the majority of IAR bookings.
Qt World Summit 2026
On October 27 after the reporting period, Qt Group hosted the annual Qt World Summit which brings together the global Qt Group community from developers and engineers to designers and technical management. At the summit, we announced Clate, an AI-native design tool purpose-built for embedded user interfaces. As AI increases the volume of code and design work being produced, the need for tools built specifically for embedded constraints grows with it.
Guidance for 2026
Qt estimates that the full-year net sales for 2026 will increase by at least 10 percent year-on-year at comparable exchange rates, and that the operating profit margin (EBITA %) will be at least 15 percent in 2026.
The percentage of change in net sales at comparable exchange rates is calculated by translating the net sales from the comparison period 2025 with the actual exchange rates of the reporting period 2026 and by comparing the reported net sales in 2026 with the calculated 2025 net sales at comparable exchange rates.
News conference
Qt Group will organize a news conference on October 29, 2026, at 3:00 – 4:00 pm EET at Studio Valla (Flik), Itämerentori 2, in Helsinki, Finland, and as a live webcast at www.qt.io/investors. CEO Juha Varelius and CFO Ann Zetterberg will be presenting the results. Analysts and investors can participate in the news conference in person or via conference call: https://events.inderes.com/qt/q3-2026/dial-in.
Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040
Distribution:
Nasdaq Helsinki
Key media
www.qt.io