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