Finland · Delayed Price · Currency is EUR Inderes Oyj Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw 4% revenue growth, stable profitability, and strong international and recurring revenue gains. Software margins improved, but ongoing investments will weigh on short-term profitability. Guidance is unchanged, with growth and earnings expected to be back-end loaded.
Fiscal Year 2025
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Q4 saw accelerated growth and margin improvement, but full-year results were below long-term targets due to international expansion costs. Strong performance in Finland contrasts with slower international progress. 2026 guidance anticipates revenue growth and 10%-13% adjusted EBITDA margin.
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Q3 saw a 7% revenue decline due to weak project revenue, while recurring revenue and software momentum remained positive. Full-year guidance was lowered, but signs of IPO market recovery and structural shifts toward hybrid events support a positive long-term outlook.
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Double-digit growth in Finland offset flat international revenue, with adjusted EBITDA stable year-over-year and €0.6 million in one-time restructuring costs impacting reported results. Guidance remains for revenue and profitability growth, supported by new products and a revised international strategy.
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The company has restructured into three business units—research, events, and software—each with tailored international growth strategies. Product innovation, AI integration, and a focus on transparency and community engagement underpin the updated strategy. Financial targets remain ambitious, with renewed efforts to boost international revenue and maintain strong profitability.
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Q1 saw 6% revenue growth and resilient recurring revenues despite volatile markets, with strong performance in Finland offsetting weaker results in Sweden. Profitability dipped slightly year-over-year, but guidance for growth and improved margins remains unchanged.
Fiscal Year 2024
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Revenue grew 7% year-over-year with strong cash flow and improved profitability, led by 40% software growth. Despite market contraction and high delistings, recurring revenue rose and a major European license deal was secured. Outlook for 2025 is positive, with continued international focus.
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Q3 delivered 11% revenue growth and a record 24% EBITDA margin, driven by strong software and stable events segments. Market conditions are improving, with IPO activity picking up and new AI initiatives launched. Guidance for revenue and EBITDA growth remains unchanged.