SoftwareONE said 2025 revenue increased 22.5% year-on-year, a gain the company attributes to its purchase of Crayon.
On a per-share basis, adjusted earnings rose slightly versus the prior year to CHF 0.48, while reported earnings per share were CHF 0. The company recorded adjusted EBITDA of CHF 277.0 million and reported EBITDA of CHF 207.60 million. Operating cash flow for the full year amounted to CHF 268.60 million.
Business-unit performance was mixed. Revenue in the Direct segment fell, a decline the company linked to changes in Microsoft incentive programs. Management noted that the negative effect from those incentive changes eased in the fourth quarter.
Offsetting the Direct shortfall, the Channel and Services segments delivered growth. Services expansion was supported by demand for cybersecurity offerings, AWS cloud services, and IT asset management services.
Improved profitability reflected a trio of internal actions - the company’s cost reduction program, the impact of synergies and tight cost controls - which management said supported the higher adjusted EBITDA figure.
Looking ahead, SoftwareONE provided targets for 2026. On a combined like-for-like basis and in constant currency, the company expects mid-single-digit revenue growth. It also anticipates an adjusted EBITDA margin above 23% for the year and is targeting CHF 100 million in run-rate cost synergies by the end of 2026.
On capital allocation, SoftwareONE said repurchased shares will be retained for use in share-based remuneration programs rather than being cancelled.
Financial snapshot (2025)
- Revenue growth: 22.5% (driven by Crayon acquisition)
- Adjusted EPS: CHF 0.48
- Reported EPS: CHF 0
- Adjusted EBITDA: CHF 277.0 million
- Reported EBITDA: CHF 207.60 million
- Operating cash flow: CHF 268.60 million
The company’s commentary emphasized that while Direct was weighed down by external incentive changes, expansion across Channel and Services - particularly in cybersecurity and cloud-related IT services - helped sustain overall growth and cash generation.
Management set measurable targets for the coming year that focus on steady revenue growth, margin improvement and realizing cost synergies tied to recent M&A activity.