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Upsales (UPSALE) investor relations material

Upsales Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary23 Jul, 2025

Executive summary

  • Achieved fifth consecutive quarter of ARR growth, reaching SEK 146.7M, up 6.6% year-over-year, with strong new customer acquisition and reduced churn.

  • Transitioned from CRM/marketing platform to AI revenue platform, investing heavily in AI agents and automation for sales, marketing, finance, and service.

  • Introduced new all-inclusive pricing model, improving clarity and supporting new sales growth.

  • Strategic focus on scaling ARR, cost discipline, and leveraging AI for customer expansion and productivity.

  • Identified 842 potential business opportunities (+22%) and estimated upsell potential of 128 customers (+17.9%).

Financial highlights

  • Net sales for Q2 were SEK 37.4M, up 5.8% year-over-year, with 95.7% from recurring subscription revenue.

  • EBITDA was SEK 8.5M (22.8% margin), up from SEK 6.7M (19% margin) year-over-year.

  • Net income was SEK 4.8M, compared to SEK 3.5M in the prior year.

  • Operating cash flow for Q2 was SEK 6.6M, up from SEK 4.0M last year; net cash at quarter-end was SEK 24.1M, down from SEK 33.5M.

  • Dividend of SEK 1.5 per share paid, totaling SEK 25.3M.

Outlook and guidance

  • Management prioritizes returning to rapid ARR growth, targeting previous levels of SEK 8–9M quarterly increases.

  • Focus remains on accelerating ARR growth, maintaining cost discipline, and expanding AI-native product offerings.

  • Positioned for growth within the existing customer base and broader market, leveraging new AI tools.

  • Financially strong, debt-free, and ready to capitalize on AI-driven opportunities despite market uncertainty.

  • No material impact from negative market conditions; churn continues to decline.

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Frequently asked questions

Upsales Technology AB operates as a software-as-a-service company that develops and sells web-based business systems with a focus on sales, marketing, and analytics. It offers Upsales CRM platform, which provides sales team with lead generation tools; deal management tools; and self-service Web site that lets customers manage their accounts using Upsales. The company was founded in 2003 and is based in Stockholm, Sweden.

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