Upsales
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Upsales (UPSALE) investor relations material

Upsales Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary18 Feb, 2026

Executive summary

  • Achieved the largest quarterly ARR increase in three years, driven by strong demand for AI-related services and a strategic pivot to an AI revenue platform.

  • Profitability remained high with zero debt, supported by investments in senior expertise and AI-driven services.

  • European market sentiment is shifting away from U.S. software providers, creating new opportunities.

  • Churn rates declined, supporting stable recurring revenue and higher retention.

  • Strategic reorganization of the product team, phasing out 14 positions to align with AI-driven development.

Financial highlights

  • ARR reached MSEK 153.0 at year-end, up MSEK 11.1 year-on-year and MSEK 5.3 in Q4.

  • Q4 net sales were MSEK 40.4, up 10.8% year-on-year, with annual net sales at MSEK 152.0.

  • EBITDA for Q4 was MSEK 10.4 (25.7% margin); full-year EBITDA was MSEK 38.6 (25.4% margin).

  • Net income for Q4 was MSEK 5.8; full-year net income was MSEK 22.5.

  • Net cash at year-end was MSEK 37.0, with a proposed dividend of SEK 0.75 per share.

Outlook and guidance

  • Continued investment in product development and AI capabilities, with a focus on hiring broad-skilled talent.

  • Revenue growth is expected to accelerate in 2026, supported by low churn and strong commercial activity.

  • Largest growth opportunities are within the existing customer base, driven by demand for AI agents.

  • Ongoing innovation projects, such as the Aira mobile app, are in early stages and not yet generating revenue.

  • Well-positioned to capitalize on AI opportunities and European market shifts.

How does AI reorganization enhance product dev?
How does data sovereignty impact sales pipeline?
What growth initiatives justify the dividend cut?
How does Upsales' AI pivot leverage existing data?
Detail the impact of AI demand on ARR growth.
How does AI impact engineering team productivity?
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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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