Interim report
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Q1 Report 2026/2027 1 Interim Financial Report Q1 2026/27 1 May 2026 – 31 July 2026 Q2 Q3 Q4 Skalhuse 13, 9240 Nibe CVR-nr. 34 89 37 72 Dataproces Group A/S
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Overview Management Statement Financial Statements Management’s Review Dataproces Group A/S 2 Interim Financial Report Q1 2026/27 COMPANY Dataproces Group A/S Skalhuse 13 9240 Nibe Denmark CVR-no. 34 89 37 72 Established: 11 December 2012 Registered Office: Aalborg Financial year: 1 May – 30 April WWW www.dataproces.dk BOARD OF DIRECTORS Mikkel Ulstrup, (Chairman) Per Hansen Kim Jakobsen Morten Mortensen Kristoffer Nørbo Schøn EXECUTIVE BOARD Kasper Lund Nødgaard, CEO Kristina Koed, COO AUDITORS KPMG Statsautoriseret Revisionspartnerselskab Østre Havnegade 22 D, 9000 Aalborg CERTIFIED ADVISOR Norden CEF A/S, v/John Norden Kongevejen 365, 2840 Holte CVR-no. 31 93 30 48 Company Details Financial Calendar Annual General Meeting 2025/26 20 August 2026 Q1 Report 2026/2710 September 2026 Half-Year Report 2026/2710 December 2026 Q3 Report 2026/2711 March 2027 Annual Report 2026/2724 June 2027 Annual General Meeting 2026/2719 August 2027
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Dataproces Group A/S Interim Financial Report Q1 2026/27 3 Contents 2 Company details 2 Financial calendar 3 Dataproces in figures 4 A word from the CEO 5 Financial highlights and key figures 8 Management’s review 13 Management Statement 14 Financial Statements 14 Income statement 15 Balance sheet - Assets 16 Balance sheet - Equity and liabilities 17 Cashflow Statements 18 Notes (Figures in brackets are the key figures for the same period last year, at 31 July 2025) Dataproces in figures as at 31 July 2026 (9.6M DKK) 8.9M REVENUE EBITDA 0.2M (2.4M DKK) EBIT -2.2M (0.6M DKK) SaaS ARR GROWTH 3.2% (3.5%)
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Overview Management Statement Financial Statements Management’s Review Dataproces Group A/S 4 Interim Financial Report Q1 2026/27 The first quarter of 2026/27 marked a further step in the continued develop- ment of Dataproces. Our strategic direction is clear: to strengthen our recurring software business in Denmark, establish a scalable position in Germany and pursue selected acquisitions that can contribute to our long-term development. During the first quarter, we made progress across these priorities. Our recurring software business continued to grow, demonstrating that the market is responding positively to our expanded port- folio, including the seven solutions developed during 2025/26. During the quarter, we sold four KommuneProfil licences, exceeding our internal expectations based on the historical adoption rates of previously launched prod - ucts. Software revenue increased by 15.2%, while the number of active SaaS subscrip - tions increased from 173 to 211 compared with the same quarter last year. Uncertainty remains regard- ing the full impact of expected terminations relating to MARC Fleksløn. The overall financial results were below the corresponding period last year. Revenue amounted to DKK 8.9 million, compared with DKK 9.6 million, while earnings were affected by lower revenue from Data Analytics and Advisory Services and the planned increase in our organisational capacity. The development is consistent with the seasonal pattern observed in our business. Revenue from our analysis of business naturally fluctuates between quarters, while our cost base developed in line with our plans. Consequently, the development does not change the assumptions underlying our guidance for 2026/27. For a more detailed review, please refer to the Management Review, which provides a more in-depth explanation of the fluctuations in our Data Analytics & Advisory Services revenue. Uncertainty remains regarding the full impact of expected terminations relating to MARC Fleksløn. Nevertheless, the quarter demon - strates that our recently developed products A word from the CEO Kasper Lund Nødgaard Chief Executive Officer (CEO) As reflected in this interim financial report, we remain focused on disciplined execution and on developing a more scalable busi - ness with a growing proportion of recurring revenue. are gaining traction and that our first initia - tives in Germany are generating commercial results.
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Overview Management Statement Financial Statements Management’s Review Dataproces Group A/S 5 Interim Financial Report Q1 2026/27 • Revenue amounted to DKK 8.9 million (DKK 9.6 million). Software revenue increased by 15.2% to DKK 5.0 million (DKK 4.3 million), while revenue from Data Analytics and Advisory Servic- es amounted to DKK 3.9 million (DKK 5.3 million). • EBITDA amounted to DKK 0.2 million (DKK 2.4 million), while EBIT amounted to DKK -2.2 million (DKK 0.6 million). The development primarily re - flects the lower revenue from Data Analytics and Advisory Services during the quarter. • ARR increased by 19.7% to DKK 29.5 million compared with DKK 24.6 million at the end of Q1 2025/26. Since the beginning of the financial year, ARR increased by 3.2%. The number of active SaaS subscriptions increased to 211 (173). • EBITDA remained positive at DKK 0.2 million (DKK 2.4 million), corresponding to an EBITDA margin of 2.6% (25.3%). EBIT amounted to DKK -2.2 million (DKK 0.6 million), while the result for the period amounted to DKK -1.5 million (DKK 0.5 million). The development in earnings primarily reflects the lower revenue from Data Analytics and Advisory Services, while the Group main - tained the organisational capacity required to execute its plans for product development and Germany. • The Group maintained a strong financial posi- tion, with equity of DKK 51.7 million (DKK 28.3 million) and a solvency ratio of 70.3% (59.3%). Financial highlights and key ratios The first quarter of 2026/27 was characterised by continued strong growth in the Group’s recurring SaaS business, while total revenue and earnings were impacted by lower revenue from Data Analytics and Advisory Services. Overview Management Statement Financial Statements Management’s Review
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Overview Management Statement Financial Statements Management’s Review Dataproces Group A/S 6 Interim Financial Report Q1 2026/27 DKK’000 QI 2026-27 (3 months) Q1 2025-26 (3 months) Q1 2024-25 (3 months) Q1 2023-24 (3 months) Q1 2022-23 (3 months) Income statement Revenue 8,888 9,625 8,215 5,206 2,716 - Revenue Software (SaaS) 4,953 4,301 4,480 3,069 2,600 - Revenue Data analyses and other activities 3,935 5,324 3,734 2,137 116 Gross Profit/ loss 8,276 9,421 8,409 5,504 3,427 EBITDA 233 2,435 2,897 (758) (4,149) EBIT (2,193) 576 904 (2,415) (5,441) Profit/loss from financial income and expenses 99 32 (73) (203) (64) Profit/loss for the period (1,452) 476 648 (2,096) (4,315) Balance sheet Total assets 73,497 47,805 39,163 37,062 34,859 Equity 51,654 28,340 21,431 12,681 17,565 Cash flows Cash flows from operating activities (10,053) (2,670) (1,298) (1,853) (2,675) Cash flows from investing activities 16,782 (2,067) (1,761) (1,649) (2,325) Cash flows from financing activities 164 587 51 3,692 2,650 Total cash flows 6,893 (4,150) (3,008) 190 (2,350) Financial highlights and key figures
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Overview Management Statement Financial Statements Management’s Review Dataproces Group A/S 7 Interim Financial Report Q1 2026/27 Financial highlights and key figures (continued) DKK’000 QI 2026-27 (3 months) Q1 2025-26 (3 months) Q1 2024-25 (3 months) Q1 2023-24 (3 months) Q1 2022-23 (3 months) Financial ratios stated as a percentage Gross margin 93.1% 97.9% 102.4% 105.7% 126.2% EBITDA margin 2.6% 25.3% 35.3% -14.6% -152.8% Operating margin (EBIT) -24.7% 6.0% 11.0% -46.4% -200.3% Solvency ratio 70.3% 59.3% 54.7% 34.2% 50.4% SaaS KPIs ARR at quarter end 29,489 24,639 17,844 11,650 7,352 SaaS ARR growth since financial year end 3.2% 3.5% 7.0% 8.1% 2.0% Number of active SaaS subscriptions 211 173 153 106 59
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Dataproces Group A/S 8 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review The lower total revenue in the first quarter was attributable to Data Analytics and Advi - sory Services, where revenue amounted to DKK 3.9 million, compared with DKK 5.3 million in the corresponding period last year. Revenue from this business area depends on the number and size of the analyses per- formed, the financial potential identified and when municipalities complete their review of our findings. Revenue may therefore vary considerably between quarters. First-quarter revenue from Data Analytics and Advisory Services amounted to DKK 3.7 million in 2024/25 and DKK 5.3 million in 2025/26. Despite this difference, full-year revenue reached almost the same level in both years: DKK 20.7 million and DKK 20.9 million, respectively. We therefore consider the current develop - ment consistent with the pattern observed over the past two financial years. It does not change our guidance, which assumes that full-year revenue from Data Analytics and Advisory Services will remain at approxi - mately the same level as in 2025/26. EBITDA amounted to DKK 0.2 million, com - pared with DKK 2.4 million in the corre - sponding quarter last year. EBIT amounted to a loss of DKK 2.2 million, compared with a profit of DKK 0.6 million, while the result after tax amounted to a loss of DKK 1.5 million, compared with a profit of DKK 0.5 million. The decline in earnings reflects the lower analysis revenue and the planned increase in personnel costs associated with the organisational capacity established to sup - port product development and our activities in Germany. Personnel costs increased from DKK 7.0 million to DKK 8.0 million, in line with our plans for the financial year. Our earnings also follow a recurring season- al pattern, primarily driven by the periodiza- tion of annual software revenue. In 2025/26, 16.1% of full-year software revenue was recognized in the first quarter, while 82.8% had been recognized by the end of the third quarter. In 2024/25, the corresponding fig - ures were 18.9% and 78.6%. Financial Development Management’s review Due to the high contribution margin on soft- ware revenue, this seasonal revenue profile has a significant impact on the distribution of EBITDA and EBIT throughout the financial year. First quarter earnings should therefore not be extrapolated across the full year. This recurring pattern is reflected in our guidance for 2026/27. Our solvency ratio amounted to 70.3% at the end of the quarter, compared with 59.3% at the same time last year, providing us with a strong financial position from which to exe - cute our strategy.
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Dataproces Group A/S 9 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review DKK 0.906 million. The majority of the churn related to MARC Fleksløn. In the corresponding quarter last year, churn amounted to DKK 0.067 million and net ARR increased by DKK 0.832 mil - lion. At the beginning of the financial year, MARC Fleksløn represented ARR of approximately DKK 4.4 million. As previously communicated, our ARR growth guidance assumes terminations representing approximately DKK 2.2 million in ARR, corresponding to 50% of the opening MARC Fleksløn ARR. Only part of the expected impact has material - ised, and we expect further terminations during the coming months. We do not expect sufficient visibility of the timing and final extent until after the turn of the year. The development supports our assessment that the market is responding positively to our expanded portfolio. However, first-quarter ARR growth should not be interpreted as an adjust - ment of our full-year guidance of 10–15%. SaaS revenue growth Annual Recurring Revenue increased from DKK 28.6 million to DKK 29.5 million, corresponding to growth of 3.2%. Before churn, new agree - ments contributed DKK 1.180 million in addition- al ARR, compared with DKK 0.898 million in the corresponding quarter last year, an increase of approximately 31%. After churn of DKK 0.274 million, corresponding to 0.96% of opening ARR, net ARR increased by Strong Underlying Development in Software Software revenue increased by DKK 0.7 million to DKK 5.0 million, representing growth of 15.2%. Active SaaS subscriptions increased from 206 at the beginning of the financial year to 211 at the end of the quarter, compared with 173 at the same time last year. Overview Management Statement Financial Statements Management’s Review
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Dataproces Group A/S 10 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Overview Management Statement Financials Management’s Review Dataproces - customers as of 31 July 2026 Denmark Germany Customers using 1 SaaS platform Customers using 2 SaaS platforms Customers using 3 SaaS platforms Customers using 4 SaaS platforms Customers with 1 SaaS solution in Germany July 2025 Development in ARR for recurring products over the last 12 months Churn New agreements (9 month) (3 month) April 2026 Churn New agreements July 2026 .0 10000.0 20000.0 30000.0 40000.0 50000.0 60000.0 70000.0 80000.0 90000.0 100000.0 Increase Decrease 24,639 5,485 28,582 -273 -1,542 1,180 29,489 Overview Management Statement Financial Statements Management’s Review
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Dataproces Group A/S 11 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review As announced in Company Announcement No. 10/2026 on 9 June 2026, we entered into an agreement to acquire Lexis & Rother Partnerschaftsgesellschaft’s subscription-based monitoring activi - ties related to student forecasts and student development. The activities generated revenue of EUR 14,800 in 2025 and were acquired for EUR 37,000. They include associated know-how, meth- odologies and municipal relationships and will be transferred to Dataproces with effect from 1 September 2026. The agreement includes a three-year strategic collaboration with Lexis & Rother and its founder, Ulrike Lexis. Dataproces will assume responsibility for future projects within school development, day - care and capacity planning, while Lexis & Rother will refer relevant consulting and software opportunities to us. The collaboration has already resulted in three sales. While the initial results are encouraging, our focus remains on building the market presence required to create a scalable business over time. As announced in Investor News No. 37/2026 on 25 June 2026, we also entered into a strategic collaboration with Institut für Public Management to develop and commercialise KommuneProfil in Germany. The German version is being adapted to German data and administrative structures and is expected to be launched during the second quarter at the KGSt-FORUM in Leipzig and the Smart Country Convention in Berlin. First Results from Germany
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Dataproces Group A/S 12 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Based on the development during the first quar - ter, we maintain our announced guidance for 2026/27: • ARR growth of 10–15% • Revenue of DKK 50–53 million • EBITDA of DKK 15–17 million • EBIT of DKK 7–9 million The guidance reflects the exp ected negative impact from MARC Fleksløn, investments in Ger - many and our expectation that full-year revenue from Data Analytics and Advisory Services will remain broadly in line with the previous financial year. Acquisitions are not included in the guidance. We continue to pursue relevant opportunities and maintain our ambition of realizing acqui - sition-driven revenue growth of DKK 7.5–10.0 million during 2026/27. OutlookOur Strategic Direction Our strategic direction is based on continued organic growth in Denmark, the establishment of a scalable position in Germany and growth through selected acquisitions. Our Data Analytics and Advisory Services activ - ities provide insight into municipal challenges and allow us to develop specialist knowledge and close customer relationships. We transform this knowledge into recurring software solutions that can be scaled across municipalities. Our focus is to expand our recurring software business; strengthen the value we create for our municipal customers and gradually apply our capabilities in new markets. In Germany, we combine our software capabilities with local expertise, relationships and partnerships to build a scalable and sustainable business over time. Acquisitions represent a complementary growth track. We will pursue opportunities that strength- en our product portfolio, market position or organizational capabilities and can create long- term shareholder value. We remain focused on disciplined execution, scalable growth and the continued development of a business with an increasing proportion of recurring revenue. Events After the Reporting Date No significant events have occurred after the reporting date that affect the assessment of this interim financial report.
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Overview Dataproces Group A/S 13 Interim Financial Report Q1 2026/27 Management Statement Financial Statements Management’s Review The Board of Directors and the Executive Board have today dis- cussed and approved the interim financial report of Dataproces Group A/S for the period 1 May 2026 – 31 July 2026. The interim financial report has been prepared in accordance with the Danish Financial Statements Act and the additional disclosure requirements applicable to companies admitted to trading on Nasdaq First North Growth Market Denmark. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the assets, liabilities and financial position of the Group and the Parent Company as at 31 July 2026, and of the results of the Group’s and the Parent Company’s operations and the Group’s cash flows for the period 1 May 2026 – 31 July 2026. Further, in our opinion, the Management’s Review provides a fair review of the development in the activities and financial affairs of the Group and the Parent Company, the results for the period, and the financial position of the Group and the Par- ent Company. Statement by the Board of Directors and the Executive Board Board of Directors Executive Board Mikkel Ulstrup Chairman Morten Mortensen Kristoffer Nørbo Schøn Kim JakobsenPer Hansen Kasper Lund Nødgaard CEO Kristina Koed Pedersen COO Nibe, 10 September 2026
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Overview Dataproces Group A/S 14 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Income statement QI 2026-27 (3 months) Q1 2025-26 (3 months) 2025/26 (12 months) Revenue 8,888 9,625 47,585 Work for own account and recognised as assets 2,034 2,038 11,077 Other operating income 223 55 894 Other external costs (2,869) (2,297) (11,402) Gross profit/loss 8,276 9,421 48,154 Staff costs (8,043) (6,986) (31,886) Earnings before interest, taxes, depreciation and amortisation (EBITDA) 233 2,435 16,268 Depreciation/amortisation/impairment (2,426) (1,859) (8,208) Operating profit/loss (EBIT) (2,193) 576 8,060 Financial income and expenses, net 99 32 7 Profit/loss before tax (EBT) (2,094) 608 8,067 Tax on profit/loss for the period 642 (132) (1,762) Profit/loss for the period (1,452) 476 6,305
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Overview Dataproces Group A/S 15 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Balance sheet - Assets 31 July 2026 31 July 2025 30 April 2026 (audited) Fixed assets Capitalised development costs 23,348 20,754 24,061 Total intangible assets 23,348 20,754 24,061 Land, buildings, fixtures, tools and equipment 7,236 6,229 7,299 Total property, plant and equipment 7,236 6,229 7,299 Total fixed assets 30,584 26,983 31,360 Current assets Trade receivables 2,574 1,946 4,908 Work in progress 6,467 5,686 5,742 Corporation tax 297 218 - Other receivables 263 - 132 Prepayments 1,052 492 984 Total receivables 10,653 8,342 11,766 Securities and equity investments - - 18,432 Cash and cash equivalents 32,260 12,480 25,367 Total current assets 42,913 20,822 55,565 Total assets 73,497 47,805 86,925
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Overview Dataproces Group A/S 16 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Balance sheet - Equity and Liabilities 31 July 2026 31 July 2025 30 April 2026 (audited) Equity Share capital 744 684 742 Retained earnings 50,910 27,656 52,149 Total equity 51,654 28,340 52,891 Provisions Provisions for deferred tax 4,857 3,734 5,722 Total provisions 4,857 3,734 5,722 Non-current liabilities Payables to credit institutions 2,586 2,789 2,636 Other payables 2,211 2,053 2,142 Total non-current liabilities 4,797 4,842 4,778 Current liabilities Current portion of payables to credit institutions 205 205 206 Trade payables 167 663 823 Corporation tax 349 - 212 Other payables 3,398 3,624 10,330 Deferred income 8,070 6,397 11,963 Total current liabilities 12,189 10,889 23,534 Total liabilities other than provisions 16,986 15,731 28,312 Total equity and liabilities 73,497 47,805 86,925
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Overview Dataproces Group A/S 17 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review Cash flow Statement QI 2026/27 (3 months) QI 2025/26 (3 months) 2025/26 (12 months) Profit/loss for the period (1,452) 476 6,305 Depreciation, amortisation and provisions for the period 2,426 1,859 8,208 Tax on profit/loss for the period (642) 132 1,762 Change in working capital (10,385) (5,137) 3,794 Corporation tax paid/received - - 218 Cash flows from operating activities (10,053) (2,670) 20,287 Acquisition of intangible assets (1,650) (2,038) (11,090) Acquisition of property, plant and equipment - (29) (480) Acquisition of financial assets and securities 18,432 - (18,432) Cash flows from investing activities 16,782 (2,067) (30,002) Repayment of long-term debt (51) (52) (204) Exercising of warrants 213 639 647 Cash capital increase 2 - 18,619 Costs attributable to the capital increase - - (610) Cash flows from financing activities 164 587 18,452 Cash flows for the period 6,893 (4,150) 8,737 Cash and cash equivalents at the beginning of the period 25,367 16,630 16,630 Cash and cash equivalents at the end of the period 32,260 12,480 25,367
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Overview Dataproces Group A/S 18 Interim Financial Report Q1 2026/27 Overview Management Statement Financial Statements Management’s Review The interim financial report of Dataproces Group A/S has been prepared in accordance with the Danish Financial Statements Act and the additional disclosure requirements applica- ble to companies admitted to trading on Nasdaq First North. The interim financial report has been prepared using the same accounting policies as those applied in the Annual Report 2025/26. For a full description of the Group’s accounting policies, reference is made to the Annual Report 2025/26. The interim financial report is presented in Dan- ish kroner (DKK). Accounting Policies Financial reporting basis Note 1 ment Statement Financial Statements
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Dataproces Group A/S Skalhuse 13, 9240 Nibe CVR-nr. 34 89 37 72