Germany's Serviceware Q3 SaaS revenue rises to record high on AI demand

By Reuters News


Overview

  • Germany enterprise service software firm's Q3 SaaS/Service revenue rose 23% yr/yr to record high

  • Q3 total revenue up 10.5% yr/yr; profitability improved with higher EBITDA and EBIT

  • Order backlog increased 25% yr/yr as company confirmed full-year revenue and profit guidance


Outlook

  • Serviceware confirms full-year revenue growth guidance of 5-15%

  • Company expects significant increase in EBITDA and EBIT for the full year

  • Serviceware says demand for its AI-native platform remains high and outlook is positive


Result Drivers

  • AI-NATIVE PLATFORM DEMAND - Co said consistently high demand for its AI-native Serviceware Platform drove revenue growth, attracting new customers across multiple sectors

  • INTERNATIONAL EXPANSION - Co reported strong progress in expanding its international partner ecosystem, supporting growth

  • ORDER BACKLOG GROWTH - Co said a 24.7% increase in order backlog contributed to revenue visibility and growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 SaaS/Service Revenues

EUR 27.70 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy."

  • Wall Street's median 12-month price target for Serviceware SE is €29.50, about 116.9% above its October 22 closing price of €13.60

  • The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 34 three months ago


Reuters Recommended Reads

  • Oct 21 - Software provider SAP Q3 revenue rises on cloud business growth

  • Oct 20 - Sweden's Exsitec Q3 net sales rise on recurring software revenue


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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