Qt Group Oyj (0RG5) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the QD Group's third quarter 2025 results presentation. My name is Heli Jansson, I am your lead and with me today are CEO Juha Varelius and CFO Jouni Lintunen to present the results. After the presentations we will have Q&A first in the room and if we have time left we will move on to questions from the lines. Without further ado, please Juha, the floor is yours. Thank you. Good afternoon everyone. My name is Juha Varelius, CEO of the company and As Heli was already saying, I'm going to go through the business performance on Q3 first. Well, our quarterly sales was, say, 40.7 million, and the decrease on 3.4 or comparable currencies, it was flat, basically. And year-to-date, we've been growing – on 1% on comparable currencies and our EBITDA margin on Q3 was 10 and a half. What has actually led into this and why are we below on our expectation is the fact that the market has been softer longer than we've been anticipating. So if we looked at what we've been missing is basically larger deals. The number of the deals we've been making this year and on a Q3 has been pretty steady and growing. And so we've been doing more deals than we've been doing before, and we've not been losing any customers. So the turn rate, per se, is at the same level that it has traditionally been, but the average deal size has been lower. So what we are experiencing on a few segments particularly, Where our customers are suffering, we are doing smaller deals. Our customers are reviewing the number of licenses they require, and they try to go forward with their, let's say, kind of with their minimum investment. So there is still life in the market. We see the activity in the market. We don't see any competing technologies. So we're dealing with the same customers. We...