Sweden · Delayed Price · Currency is SEK Upsales Technology AB Earnings Call Transcripts
Fiscal Year 2026
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A leadership transition is underway, with Johan Kallblad set to become CEO after a period of strong growth and the spin-off of Aira. The company is focused on cash flow, customer success, and exploring capital-efficient M&A, while maintaining organizational stability and attractive financials.
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A new generation of AI agents is being launched to automate and enhance sales workflows, leveraging proprietary data and two decades of expertise. Integrated into the core platform, these agents are designed to amplify top performers, drive ARR growth, and adapt through user feedback, all while maintaining financial independence and compliance.
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Q1 saw 13% revenue growth and strong profitability, with EBITDA margin set to exceed 35% from Q2 after the proposed Aira separation. The company remains debt-free, continues to invest in AI, and expects 10–15% revenue growth for 2026.
Fiscal Year 2025
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ARR reached SEK 153 million with the largest quarterly increase in three years, driven by strong demand for AI-powered solutions and a strategic pivot to deeper AI integration. Profitability remains high, with EBITDA nearly doubling year-on-year and a proposed dividend of SEK 0.75.
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ARR grew 6.8% year-over-year to SEK 147.7 million, with 95.9% of revenue recurring and EBITDA margin rising to 35.1%. Strategic focus remains on AI-driven product innovation, expanding within the existing customer base, and scaling the sales team for future growth.
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ARR grew 6.6% year-over-year to SEK 146.7M, with EBITDA margin rising to 22.8%. Investments in AI agents and a new pricing model are driving growth, while churn continues to decline and the company maintains a strong net cash position.
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ARR grew 6.5% year-over-year to SEK 144.7 million, with 95.6% of net sales from recurring revenue. New AI agents and a shift to all-inclusive pricing support continued growth, while profitability and a strong cash position are maintained.
Fiscal Year 2024
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Q4 2024 delivered accelerated growth, record new customer wins, and reduced churn, with ARR up 1% year-over-year. The new AI-powered product and pricing model are expected to drive further growth and higher ARPU in 2025.
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ARR and revenue showed modest sequential growth but remain below last year's levels, with profitability metrics slightly down. Investments in AI, product integration, and compliance are expected to drive future growth, while a strong net cash position supports stability.
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ARR returned to quarter-over-quarter growth in Q2, though year-over-year figures declined. Profitability and margins fell due to continued hiring amid low growth, but management remains optimistic about returning to historical growth rates and sees a long runway for expansion.