Upsales ARR update - Q2 2023

Annual recurring revenue (ARR) amounted to 141.4 MSEK at the end of Q2 2023, corresponding to a growth of 9.4% during the last 12 months. ARR changed by 0.0 MSEK during the quarter.

“In the second quarter, we have continued working on transforming our sales organisation. With the hire of our new CRO, Christian Nyberg, joining us in Q3 and several other recruitments, we continue building the organisation needed to support our ambitious growth targets for the coming 3-5 years. We continue to close deals specifically because of our Swedish cloud offering, with more advanced features for privacy-sensitive customers. GDPR and related legislation give our enterprise offering a clear competitive advantage. 
While I am not satisfied with the lower growth rates, I am confident that the investments we are making in the product and the changes in the sales organisation position us for growth in the coming years. We don’t expect growth rates to improve during Q3, but we expect continued profitability during this period of transformation.”
says Daniel Wikberg, CEO