Sweden's Upsales Technology Q1 sales rise 13% led by new customers

Upsales Technology AB

22/04/2026 07:39

Overview

Sweden B2B AI software provider's Q1 net sales grew 13% yr/yr, highest in several years

EBITDA margin for Q1 was 17.6%, essentially flat yr/yr

Company plans to separate and list Aira unit, pending shareholder approval

Outlook

Upsales expects 2026 revenue growth of 10-15%

Company expects EBITDA margin to exceed 35% from Q2 2026 onward

Company sees cash flow improving in line with EBITDA after cost reductions and Aira separation

Result Drivers

NEW CUSTOMER ACQUISITION - Co said strong inflow of new customers contributed to Q1 net sales growth

RENEWAL TIMING IMPACT - ARR growth was modest due to concentration of annual renewals in Q1, resulting in higher churn

AI FEATURES DEPLOYMENT - Upsales said ongoing deployment of AI capabilities helped improve customer satisfaction and retention

Company press release: ID:nMFN58q8v0

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
SEK 40.8 mln
Q1 Net Income
SEK 3 mln
Q1 Cash Flow From Operating Activities
SEK 9.8 mln
Q1 EBIT
SEK 3.9 mln
Q1 EBITDA
SEK 7.2 mln
Q1 EBITDA Margin
17.6%


Analyst Coverage

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 21 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)