SoftwareOne Q3: Revenues spike almost 50 per cent in first quarter since Crayon merger

Reported EBITDA also saw explosive triple-digit growth

SoftwareOne has posted a surge in Q3 2025 revenues in its first quarter as a combined business with Crayon.

Revenues soared 46 per cent year-on-year on a reported basis to CHF 343.2m (£328m) in the third quarter, reflecting the Crayon acquisition which closed July 2.

However, on a combined like-for-like basis, group revenue declined 3.2 per cent in reported currency to CHF 344.2m (£329m).

Reported EBITDA saw lightning growth of 237 per cent to CHF 42m (£40m) from CHF 12.4m (£11.8m) in the prior year.

SoftwareOne co-CEO’s Raphael Erb and Melissa Mulholland commemorated the milestone of this being the first quarter for the combined company since the merger between SoftwareOne and Crayon.

“We are encouraged to see early signs of growth recovery, as well as improved profitability driven by strict cost control and disciplined execution,” the duo said.

“Cost synergy realisation is progressing well, and as we move into the fourth quarter, we are increasing our focus on our strategic sales plays and joint go-to-market approach to capture additional revenue opportunities.

“With our strong position across the cloud and AI value chain, we are well placed to harness the next wave of demand and deliver sustainable, profitable growth.”

Geo breakdown

SoftwareOne showed stable growth across most of its regions.

The territory to grow the most in Q3 was APAC, up 8.6 per cent to CHF 68.5m(£65.4m), driven by Australia and India, supported by strong performance in the channel business.

DACH revenue dipped 0.8 per cent to CHF 77.2m (£74m) owing to a decline in the direct business related to Microsoft incentive changes on enterprise agreements. This was partly offset by strong growth in the multi-vendor business.

Revenue in the rest of EMEA saw a slight 1.6 per cent uptick to CHF 131.7m (£126m) supported by improved performance in the Nordics, with both the direct and services business growing high single digits.

Additionally, Western EMEA saw strong growth in services.

Performance by segment

Earnings for the software & cloud channel business leapt 18.3 per cent year-on-year to CHF 31.4m (£30m) thanks to a strong Microsoft CSP performance, continued AWS momentum, and successful investments in large, high-potential markets like NORAM and India.

Software & cloud services also had a good Q3 showing, delivering revenue growth of 5.9 per cent CHF 173.2m (£165.4m).

This was spearheaded by a solid display across the Nordics, APAC, and WEMEA.

Services growth reflects continued demand for cloud optimisation services, advisory work related to data & AI and cybersecurity services.

Revenue in software & cloud direct, however, fell 8.2 per cent to CHF 139.7m (£133.5m).

SoftwareOne blamed the drop on changes in incentives for enterprise agreements that continued to weigh on the business throughout 2025.

The group added that enterprise agreements to CSP conversion are gaining strong momentum, supported by Microsoft’s commercial changes, which are expected to further accelerate customer migration and strengthen the CSP value proposition.