Sitowise lifts sales 5.3% to €37.6 million, while Lemonsoft reports €7.171 million
Key Facts
Finnish companies Lemonsoft and Sitowise reported third-quarter 2026 results, with Sitowise sales rising 5.3% to €37.6 million and Lemonsoft sales increasing 1.5% to €7.171 million. The companies took different paths on profitability: Sitowise lifted its adjusted operating profit margin, while Lemonsoft kept its adjusted margin close to its level a year earlier. Lemonsoft said net sales were €7.171 million, compared with €7.065 million in the year-earlier period. Sitowise said its adjusted organic growth was 5.3%, after a 1.8% decline a year earlier. The results highlight differing demand across software, technical consulting and infrastructure services in Finland.
At Lemonsoft, software-as-a-service revenue rose 8.2% year on year, accounting for 82.6% of net sales, compared with 77.5% in the third quarter of 2025. The company attributed the higher share to its acquisition of Jakamo. Adjusted operating profit was €2.507 million, compared with €2.476 million a year earlier, while the margin edged down to 35.0% from 35.1%. Profit for the period fell to €619,000 from €1.872 million. For the first nine months, the company recorded sales of €22.472 million, up 1.9% from €22.047 million, and adjusted earnings before interest and taxes were €7.066 million, compared with €6.380 million.
Lemonsoft said the recovery in the manufacturing and wholesale markets continued during the quarter, and sales opportunities for enterprise resource planning systems and the value of submitted bids increased clearly. It said, however, that new deals came in slightly below its target, with customer decisions accelerating late in the quarter. The company said the use of artificial intelligence and agent-based development helped it deliver product features at about three times the level recorded at the start of the year. This coincided with an increase in the share of software-as-a-service revenue, which the company said grew 8.2%. In the second quarter, Lemonsoft recorded sales of €7.8 million, up 5.4%, while software-as-a-service revenue rose 12.4% and accounted for 79.8% of net sales.
At Sitowise, adjusted earnings before interest, taxes, depreciation and amortization rose to €3.7 million from €3.2 million, and the margin climbed to 9.8% from 8.9%. But cash flow from operating activities before financial items and taxes remained negative at €0.3 million. For the first nine months, sales rose 2.1% to €122.0 million from €119.4 million, while adjusted earnings were €9.4 million compared with €9.6 million, and the margin fell to 7.7% from 8.1%. The order backlog stood at €140 million at the end of September, up 0.7% from €139 million a year earlier. These figures reflect an improvement in quarterly performance compared with a slight decline in profitability year to date.
By segment, Sitowise infrastructure sales rose 8.2%, supported by tram, transport infrastructure and green transition projects. Building revenue also increased 7.6%, with data center support work contributing. Digital solutions sales, by contrast, fell 3.4% as demand remained weak. The differences align with the company’s quarterly growth relying on infrastructure and buildings, while demand for digital solutions remained under pressure. The results did not provide a separate figure for each project’s contribution to total sales growth.
Sitowise said technical consulting market conditions are expected to remain mixed through the end of 2026 and in 2027, citing data center, energy and electricity grid investments as growth opportunities. In contrast, a slow recovery in construction and a decline in the number of large municipal projects are weighing on traditional infrastructure demand. The company decided not to issue sales or profitability guidance for 2026. Lemonsoft said the market recovery, faster launches and adoption of modern solutions, and improved customer satisfaction provide a basis for accelerating growth in 2027. The companies’ outlooks thus reflect two markets that remain uneven, with Lemonsoft relying on improved customer activity and product expansion, and Sitowise on continued investment opportunities in infrastructure and energy.