Inderes reported revenue of 1,4 MEUR (1,2) for August, corresponding to 12 % growth YoY. According to the company, this was already the fourth month in a row where revenue grew with double-digit pace, a clear step up compared to the company's growth in recent years. The development is well in line with what we assumed for the third quarter.

Growth was driven mainly by the software business, where recurring revenue continued to grow and remains the biggest growth driver for the company. Recurring revenue from the analysis business also increased, supported by improving IPO market. Current development in August is in line with our Q3 2026 estimates therefore we do not make any changes to our forecasts at this stage. Inderes will publish its Q3 2026 results on 27 October, and we will publish our preview a few weeks before the release.