Net sales for the quarter are expected to amount to approximately 41.4 MSEK, a year-on-year increase of approximately 10.7 per cent.

On a pro forma basis - excluding costs related to Aira (which was part of Upsales until the Lex ASEA dividend in mid-May 2026) and excluding extraordinary costs related to the spin-off - EBITDA margin is expected to amount to approximately 36-38 per cent. This exceeds the previously communicated guidance of 35 per cent.

Annual Recurring Revenue (ARR) increased by approximately 1.1 MSEK quarter-on-quarter compared with the first quarter of 2026, to approximately 154.0 MSEK.

Daniel Wikberg, CEO, comments:

"I'm pleased to see a very strong margin this quarter and continued double-digit revenue growth. It's also good to see ARR growing again after being flat quarter-on-quarter in Q1. Going into Q3, churn is lower and we have a good chance of accelerating growth."

The figures above are preliminary. Complete financial information for the second quarter will be presented in Upsales' interim report, to be published on 22 July 2026.

Further information

All financial reports are available at www.upsales.com

Contacts

Daniel Wikberg, CEO

Kristina Fridheimer, CFO

IR contact:

+46 70-261 84 05

This information is information that Upsales Technology is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-02 16:35 CEST.

About Upsales

Upsales is a Stockholm-based software company on a mission to build the leading AI platform for B2B revenue growth. With best-in-class data and proprietary AI agents, Upsales helps companies accelerate profitable growth. In the last two decades, the company has built a track record of organic, profitable growth. Upsales is a net cash company with zero debt and strong cash flows. Its scalable business model is powered by over 90% recurring subscription revenue. Upsales serves customers in 10 countries, with the majority of its customer base in Sweden.

Upsales Technology AB (publ) is a public company listed on the Nasdaq First North Growth Market. The Company’s Certified Adviser is DNB Carnegie Investment Bank AB (publ).

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