Slides
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Juha Varelius, CEO Ann Zetterberg, CFO October 29, 2026 Q3 2026 results
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2 Agenda Business Highlights & Market Trends Financials Outlook and Guidance for 2026 01 02 03
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Business Highlights & Market Trends 01 Juha Varelius, CEO
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01 Business Highlights & Market Trends Quarterly net sales were EUR 51.7 million. An increase of 27.0% or 26.0% at comparable currencies. EBITA-margin at 11% and EBITA was EUR 5.7 million in Q3/26 ARR growth from 122.0 million 30.9.2026 was 32.1% at comparable currencies. 42 68 47 51 41 77 53 61 52 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net sales, MEUR Q3/26: Net Sales Growth of 27.0%, and EBITA Increased Despite Restructuring Cost
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29.10.2026Copyright ©️ 2025 Qt Group and its group companies. All rights reserved. 5 01 Business Highlights & Market Trends Growing new sales, particularly Qt device creation in EMEA Stable renewal performance due to solid long-term customer relations Growth in Medical and Industrial automation, and high growth in Aerospace and Defence Increasing demand in all sectors, driven by evolving security and regulatory requirements like CRA (Cyber Resilience Act). Qt 6.12 is our first release with a signed EU Declaration of Conformity under the CRA, backed by five years of Long -Term Support. Adoption to IAR's subscription licensing model progressing well, now representing the majority of bookings. Increased Net and New Sales
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Financials 02 Ann Zetterberg, CFO
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29.10.2026Copyright ©️ 2025 Qt Group and its group companies. All rights reserved. 7 02 Financials Net sales Growth 27.0%. Exchange rate impact +0.3 MEUR. 26.0% at comp currency. YTD Growth 19.1%. Exchange rate impact -3.0 MEUR. 21.7% at comp currency. ARR R12 164.1 MEUR (122.0), 34.5% growth or 32.1% at comparable currency. Expenses Personnel + 38.4% in Q3 and 34.1% YTD. 1,002 on September 30, year -on- year increase of 80. Restructuring costs 5.3 MEUR in Q3. 9.7 MEUR YTD. Other costs -3.3% in Q3 and 9.8% YTD. Total costs grew 26.3% in Q3 and 26.4% YTD -> Restructuring is on-going 20 MEUR target. May affect up to 200 employees. Profitability Q3 EBITA 5.7 MEUR (4.3 MEUR), a margin of 11.0% (10.5%). Total restructuring cost of 5.3 MEUR – EBITA 21.4% adj. YTD EBITA 20.0 MEUR (24.4 MEUR), a margin of 12.1% (17.5%). Total restructuring costs of 9.7 MEUR YTD – EBITA 17.9% adj. Income statement Q3/2026 EUR 1,000 7-9/2026 7-9/2025 Change, % 1-9/2026 1-9/2025 Change, % 1-12/2025 Net sales 51,725 40,722 27.0% 165,714 139,182 19.1 % 216,281 Other operating income 0 5 -100% 36 488 -92.7 % 534 Materials and services -875 -1,161 -24.7% -3,142 -4,067 -22.8 % -5,293 Personnel expenses -34,780 -25,125 38.4% -106,342 -79,302 34.1 % -111,064 Depreciation, amortization and impairment* -1,427 -927 53.9% -4,198 -2,789 50.5 % -4,036 Other operating expenses -8,929 -9,230 -3,3% -32,023 -29,155 9.8 % -44,614 Operating result (EBITA) 5,715 4,284 33.4 % 20,045 24,356 -17.7 % 51,807 EBITA-% 11.0 % 10.5 % 12.1 % 17.5 % 24.0 % Amortization (intangible assets arising from business combinations) -3,131 -2,008 56.0 % -9,905 -6,023 64.5 % -9,270 Operating result (EBIT) 2,584 2,277 13.5 % 10,140 18,334 -44.7 % 42,537 EBIT-% 5.0 % 5.6 % 6.1 % 13.2 % 19.7 %
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29.10.2026Copyright ©️ 2025 Qt Group and its group companies. All rights reserved. 8 02 Financials Goodwill 166.9 MEUR ->122.5 MEUR refers to IAR. Other intangible assets 114.2 Capitalization of intangible dev. assets in IAR in Q3 was 0.2 MEUR. Trade receivables balance 50.5 MEUR (39.5). Ending cash balance 50.2 MEUR (93.9). Interest-bearing debt 126.7 MEUR of which bank loan of 120 MEUR. Other receivables and other short-term liabilities both contain 5.2 MEUR held to purchase the last IAR shares. Equity 212.8 MEUR an equity/asset ratio of 53.6 % (84.5%). Operating Cash flow Jan-Sep was 29.5 MEUR (32.4). Main other cash flow was 15 MEUR repayment of bank loans in June. Total cash flow for the period was 10.0 MEUR (29.8). Balance sheet Q3/2026 EUR 1,000 09/30/2026 09/30/2025 12/31/2025 Non-current assets Goodwill 166,886 44,370 166,886 Other intangible assets 114,161 33,096 125,804 Other non-current assets 16,187 11,748 17,903 Total non-current assets 297,235 89,214 310,593 Current assets Trade receivables 50,480 39,512 58,449 Other receivables 39,168 24,803 34,331 Cash and cash equivalents 50,181 93,947 40,124 Total current assets 139,829 158,261 133,754 Total assets 437,064 247,474 444,347 Total shareholders’ equity 212,792 190,902 209,522 Long-term interest-bearing liabilities 92,241 3,917 109,038 Other long-term liabilities 30,481 15,660 34,543 Total long-term liabilities 122,722 18,621 143,581 Short term liabilities Interest-bearing liabilities 34,426 3,142 34,186 Accounts payable 2,897 2,602 4,379 Other short-term liabilities 64,227 32,207 52,679 Total short-term liabilities 101,550 37,951 91,244 Total shareholders’ equity and liabilities 437,064 247,474 444,347
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Outlook and Guidance for 2026 03 Juha Varelius, CEO
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10 Our plan is to have the majority of IAR’s customers transitioned to the SaaS model in the next three years If transition goes as planned, IAR’s revenue decreases year-on-year in 2026 and by 2027 revenue begins to increase again driven by the SaaS subscriptions The operational reorganization announced in April will improve operational efficiency and support long-term profitability. Challenges in market environment continue to cause uncertainty in short-term Long-term growth prospects look promising as the number of displays and intelligent devices is growing across industries, and use of AI boosts growth for quality assurance business We estimate that our full-year net sales for 2026 will increase by at least 10 percent year- on-year at comparable exchange rates, and that our operating profit margin (EBITA %) will be at least 15 percent in 2026. Market outlook and guidance for 2026 03 Outlook and guidance for 2026
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