The following is a summary of the Qt Group Oyj (QTGPF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Qt Group recorded Q1 net sales growth of 13%, reaching EUR45 million or 14% in comparable currencies.

• The EBIT margin was 24%, a 40.5% increase from the previous period.

• Revenue growth was primarily from licenses and consulting, which saw a growth of 17%, and developer license sales also showed positive growth.

• Distribution licenses fell short of expectations for the quarter.

• OpEx growth was EUR2 million coupled with a revenue growth of EUR5 million, leading to a boost in the EBITA margin to 24.3%.

• Profit before taxes amounted to EUR9.4 million, with an effective tax rate of approximately 19%.

Business Progress:

• Despite variations in revenue groups, Qt Group is confident in meeting its annual targets, with strong growth projections for both Qt and QA businesses.

• Major expansion efforts are expected in their Quality Assurance business, and they aim to source 30% of future revenue from outside of the Qt ecosystem.

• The company continues to hire new talent and increase headcount, particularly in growth areas like sales, R&D, and QA.

• Qt Group has established successful cooperation with Infineon and Amazon, opening new growth avenues.

• There is a focus on increasing activities in the Asia Pacific region, specifically in China where the company has a strong position in the electric vehicle market.

• Through strategic partnerships and expansion in testing and quality assurance software sale, the company intends to increase its sales reach and visibility.

• They are also planning a global rollout and expanding their product portfolio to meet customers' quality assurance needs with fewer Qt products.

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