New partner with 4,500 employees found in Spain QPR Software and hiberus: A Partnership Forged to Illuminate the Path to Operational Excellence
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More partnerships with Polish consultants.
The final installment of interest-bearing loans is being paid in the coming days, so going forward, there will be €500k more cash available per year. We’ll see how the money will be used in the coming years. Dividend distribution could be a realistic way to use the money, at least in part, as squandering the amount on travel or other marketing and R&D might strain the bottom line perhaps too much.
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New partners seem to be found at a good pace. This time, collaboration with Swedish SAP consultants.
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Will it turn into sales? Hardly any new contracts have been seen lately.
Atte’s preview comments as QPR reports its Q4 results on Friday, Feb 13. 
We expect the company’s revenue to have remained in decline due to the expiration of certain legacy contracts, the weakening of the dollar, and an otherwise subdued sales outlook. We expect a largely stable result, supported by staff reductions and temporary layoffs. In the report, the main focus will be on the sales and growth outlook for 2026. The company announced several deals at the end of the year, but in our assessment, clearly accelerating SaaS growth still requires more successes.
According to the latest press release, at least some customer relationships have been established with Cognitio Analytics.
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Here are Atte’s and Roni’s comments as QPR deepens its collaboration with Cognitio Analytics
The arrangement is a continuation of the collaboration that began in June 2024, which has already produced its first joint customers. The news is in line with QPR’s strategy, where developing the partner channel plays a critical role in scaling international sales.
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It seems QPR has started issuing daily announcements. A half-million-euro deal for QPR Metrics to the Middle East.
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Here are Atte’s comments as QPR sells the intellectual property rights for the QPR Metrics software for the Middle East & some African countries to Leaders Solutions
QPR Software announced on Thursday that it is selling the regional intellectual property rights for the QPR Metrics software for the Middle East and certain African countries to its long-term partner Leaders Solutions. The arrangement brings a significant one-off revenue stream relative to the company’s size and supports the strategic focus on process mining SaaS solutions. We will account for the arrangement in our forecasts in connection with QPR’s Q4 update.
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CEO Heikki Veijola was interviewed by Atte after the release of QPR’s Q4 results.
Topics:
00:00 Introduction
00:11 Q4 summary
01:40 Sales pipeline development
03:52 Full-year development and its drivers
04:57 Building the partner network
10:15 Cash flow and financial position
11:17 AI-based root cause analysis
13:50 AI threats and opportunities
16:42 Outlook and guidance
17:55 Growth investments
18:37 Market outlook
Here is a new company report on QPR from Atte and Roni based on the Q4 results.
We reiterate our Reduce recommendation for QPR and revise the target price to EUR 0.55 (prev. EUR 0.58). The Q4 figures clearly fell short of our expectations, and the growth outlook for 2026 was also a disappointment. With our lowered forecasts, QPR’s combination of growth and profitability will remain subdued in the coming years, in relation to which the stock’s valuation (2026e EV/S 1.8x) is elevated.
Here are Atte’s comments on the change of CEO at QPR.
QPR Software announced on Tuesday that it has appointed Matti Erkheikki as the company’s new CEO, effective immediately. He succeeds Heikki Veijola, who is stepping down from his role as CEO. The change of CEO came as a surprise to us as such, but in light of QPR’s sluggish growth in recent years, the change of leadership is understandable.
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