Serviceware (SJJ) Q1 2025 earnings summary

Executive summary

• Sales revenues grew 11.2% year-over-year to EUR 27.8 million, with SaaS/Service revenues up 30.5% to EUR 20.8 million, now 74.9% of total sales.

• EBITDA increased 14.9% to EUR 654k; EBIT improved slightly to EUR -295k, reflecting ongoing SaaS transition.

• Strong internationalization progress, with new contracts in the US and Italy and a growing international order pipeline.

• AI integration in the Serviceware Platform advanced, highlighted by the launch of the AI-native Process Engine.

Financial highlights

• Net income after taxes improved to EUR -416k from EUR -494k year-over-year.

• Cash and cash equivalents at EUR 31.6 million, down 6% sequentially; equity at EUR 45.95 million, down 0.9%.

• Contract liabilities rose 26% to EUR 101.6 million, reflecting future SaaS revenue.

• Equity ratio decreased to 26.7% from 29.9% due to increased contract liabilities and negative result.

Outlook and guidance

• Expects full-year sales revenue growth of 5–15% year-over-year, likely at the upper end if international expansion continues.

• EBITDA and EBIT expected to improve slightly despite negative impact from ending capitalization of internally generated intangibles.

• Long-term, recurring SaaS revenues and low churn rate expected to drive higher profitability and resilience.