contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


qt-group-qt-group-oyj-managers-transactions-22

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

QT Group operates in the IT sector. The group develops various development tools for the global market. The technology is based on QT technology and is used to develop multi-platform interfaces and associated applications. The services are used in, among other things, industrial robots, entertainment systems, and vehicle systems. Operations are conducted on a global level and customers are found in the automotive and aerospace industries.

I have made a rough estimate based on publicly available information. In my opinion, various data points are quite readily available, making it possible to make an estimate in the right direction. Looking at the figures previously reported by IAR, we can see the following:  Q1 2024 - Q2 2025 revenue has been consistently between 109 MSEK and 132 MSEK. Q1 2025 revenue: 124.2 MSEK, i.e., approximately 11 MEUR. Q2 2025 revenue: 109.4 MSEK, i.e., approximately 10 MEUR.  Qt commented the following in their release: Based on Qt Group’s and IAR’s financial statements for 2024, IAR would have added approximately EUR 43 million in net sales and approximately EUR 15 million in EBITDA to Qt Group. That is roughly 10.8 MEUR in revenue per quarter. Prior to the acquisition, Qt maintenance sales were consistently around 3 MEUR per quarter (Q1 2024-Q3 2025 range of 2.9m-3.2m). With Qt’s subscription business model (“SaaS”), the focus is not on maintenance revenue. The situation is different for IAR, as the subscription/SaaS transition is ongoing. After the IAR acquisition, Qt’s quarterly maintenance sales grew to a level of about 8.2-8.5 MEUR, so from this, one can quite reliably estimate that IAR’s maintenance sales are about 5 MEUR per quarter. My understanding is that IAR does not receive distribution-based revenue in the same way as “legacy” Qt products. Therefore, the remainder of IAR’s revenue comes from developer licenses. My own rule-of-thumb estimate is that IAR’s subscription transition will decrease IAR’s revenue this year by at least 10% y-o-y. Based on management’s comments, the transition has progressed faster than expected. In that case, IAR’s revenue could now be roughly 9-10 MEUR per quarter. I believe that this year, IAR will dilute Qt’s profitability—both when adjusted for one-off “integration costs” and on a purely reported basis. Next year, the situation should be much better if IAR’s subscription transition proceeds in the right direction and the “excess fat” has been trimmed. This is certainly one part of the 20 MEUR cost-saving target.

“should be able to build a full 500 million euro business with highly, highly profitable operations” Perhaps someone actually updated their forecasts with this vision  …or maybe changing the name of the thread helped

Verneri interviewed Antti about how things are going at Qt    Topics: 00:00 Is there light at the end of the tunnel yet  03:25 Cyclicality  04:45 Strategic position  06:06 The threat of AI  12:15 Organic growth

Where did you find the IAR figures? I personally couldn’t find them with that level of precision in that report. For 2025 H1, IAR’s figures were €21.2M and the adjusted operating profit was €3.8M. If your figures are even close, that’s a €3.2M headwind in revenue, and the assumption is that a significant portion of that lost revenue hits the adjusted operating profit directly. Quickly calculated, the impact of IAR would have been -2–3% on revenue, with its contribution to profit being almost negligible. One can only hope that this is due to the billing model and not because the business is melting away. On the other hand, the “old” Qt’s performance would have been quite decent once again.

Now that I’ve taken a closer look at the Q2 2026 earnings report, my rough estimate is that revenue from Qt’s “legacy” development tools—that is, excluding IAR—grew by approximately 24–25% year-over-year in Q2. It’s true that you can’t draw too many long-term conclusions from a single quarter in Qt’s case, but that level of growth was certainly a positive surprise and raises the bar compared to previous quarters. One would assume there are some larger deals behind this as well. Note: In this analysis, development tools also include quality assurance.

I agree about the integration; it requires skill and patience. On the other hand, cost-cutting and change negotiations can even improve the atmosphere and culture, because in a company that has grown long and fast, it’s easy for 5% of the staff to be people whose departure is positive for everyone—the person leaving, the company, and those who remain.

I am considerably more optimistic about the outlook for the next 1.5 years. Admittedly, I went “all in” at the 18–22 euro levels, so I am a bit biased. Here is my own summary of the positive drivers. Nothing new here, of course, if you have been reading the reports closely. In my opinion, a major risk is associated with the success of the IAR integration and the Qt culture, now that they have started cutting costs and laying off people in a significant way for the first time. Will key personnel leave if the general mood in the company declines? Qt’s positive drivers for H2/26 and 2027 H2/26:  The profitability program is only now starting to have a full impact: Q2 adjusted EBITA-% was already 22.2% excluding 4.3 MEUR in one-off costs. On top of that, the discontinuation of IAR’s cybersecurity business adds ~3 MEUR in savings with no impact on revenue. The guidance (growth >10%, EBITA-% >15%) looks conservative after Q2, with room for an increase later in the year. Demand is recovering: Q2 +20.9% in comparable currencies; new sales were strong, ARR +32%. Organically, it is still modest, but the company isn’t priced as a growth stock (yet).  2027:  IAR’s transition to a subscription model is turning from a headwind into a tailwind and is clearly ahead of target (68% transitioned, the target was 40%). Earnings leverage opens up: savings at full weight + growth with a fixed cost structure → Inderes forecasts EPS of 1.53 → 2.51 € (+64%). 2027e EV/EBITA ~10x and P/E ~16x — still modest for accelerating earnings growth.  Figures from the Inderes Q2 report (Aug 7). My own target price by the end of 2027 is 48e/share. Let’s see how it plays out.

Qt Group

Stock Exchange Release May 5, 2020 2:00 pm ____________________________________________Person subject to the notification requirement Name: Holländer, Petteri Position: Other senior manager ...

Stock Exchange Release May 5, 2020 2:00 pm  ____________________________________________Person subject to the notification requirement Name: Holländer, Petteri Position: Other senior manager Issuer: Qt Group Plc LEI: 743700GO2XU2ZYYDKW67Notification type: INITIAL NOTIFICATION Reference number: 743700GO2XU2ZYYDKW67_20200505084642_19 ____________________________________________Transaction date: 2020-04-30 Venue: FNFI Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT ISIN: FI4000414420 Nature of the transaction: DISPOSAL (X) Linked to stock option programmeTransaction details (1): Volume: 35000 Unit price: 17.36 EURAggregated transactions (1): Volume: 35000 Volume weighted average price: 17.36 EUR  DISTRIBUTIONNasdaq Helsinki Principal media www.qt.io

Qt Group: QT GROUP OYJ - Managers' Transactions

Qt Group: QT GROUP OYJ - Managers' Transactions