Net sales for the quarter ending in July climbed 25.8% to SEK 963 million, with recurring revenue accounting for SEK 723 million of that total. Operating profit followed a similar upward trajectory, rising 60.9% to reach SEK 191 million, which pushed the operating margin to 19.8% compared to 15.5% in the same period last year.

Despite these gains, contracted order bookings saw a 46.6% decline to SEK 699 million, a fluctuation the company attributes to the long-term, extensive nature of its client contracts. CEO Torbjörn Kronander noted that while the transition toward cloud-based enterprise imaging strengthens the company’s recurring revenue foundation, it also necessitates significant ongoing investment in security and delivery capacity. Cash flow from operations dropped to SEK 3 million, primarily due to increased capital tied up in current receivables and liability settlements.