Investor Information

Revenue for the first half of 2025 amounts to DKK 132 million, this is down 5% from DKK 139 million in the same period of 2024. Earnings before tax (EBT) total DKK 31 million, corresponding to an EBT margin of 24%.  

Software revenue for the first half of 2025 amounted to DKK 100 million, a decrease of 10% compared to DKK 111 million in the same period last year, primarily due to lower international license sales. Revenue from one-time software licenses declined by 58%, making up 14% of total revenue. Services revenue increased by15% to DKK 32 million, representing 24% of total revenue. Recurring revenue(subscriptions) grew by 24% and represent 61% of total revenue, up from approximately 47% last year. 

While revenue for the first half of the year was lower due to a decline in one-time software license sales, we are encouraged by the solid performance of recurring revenue streams. The first half demonstrates a strong underlying business, with subscriptions growing 24% and services revenue increasing 15%. In addition, the solid EBT margin of 24% generated a strong positive operating cash flow of DKK 40 million.