Board Change • May 21
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Ilkka Hiidenheimo was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Apr 15
Lemonsoft Oyj Appoints Mikael Da Costa to Its Board of Directors Lemonsoft Oyj at its AGM held on 14 April 2026 approved Mikael da Costa as a new member of the Board of Directors. Annuncio • Feb 20
Lemonsoft Oyj announces Annual dividend, payable on April 23, 2026 Lemonsoft Oyj announced Annual dividend of EUR 0.1400 per share payable on April 23, 2026, ex-date on April 15, 2026 and record date on April 16, 2026. Annuncio • Feb 14
Lemonsoft Oyj (HLSE:LEMON) entered into a share purchase agreement to acquire 76% stake in Jakamo Limited for €5.8 million. Lemonsoft Oyj (HLSE:LEMON) entered into a share purchase agreement to acquire 76% stake in Jakamo Limited for €5.8 million on February 13, 2026. The purchase price consists of approximately €3.5 million will be paid at closing and approximately €0.4 million as a deferred purchase price in early 2027. The purchase price will be paid fully in cash and the transaction will be financed with a bank loan. The agreement includes an option to acquire the remaining 24% of the shares during 2028 and 2029. In addition, the parties have agreed on an additional purchase price based on the year 2026, which is based on the company’s revenue growth and profitability. The maximum additional purchase price is €1.9 million and, if realised, it will be paid fully in cash in early 2027. Jakamo will be reported as part of the Lemonsoft Group as of the completion of the transaction. Jakamo’s current CEO Jarl Matti Anttila will continue as CEO and the organisation will continue to operate in its current form as a subsidiary of Lemonsoft Oyj.
For the period ending December 31, 2025, Jakamo Limited reported total revenue of €2 million, EBITDA of €0.19 million and employs approximately 20 employees.
The expected completion of the transaction is March 2, 2026.
Aktia Alexander Corporate Finance Oy acted as financial advisor for Lemonsoft Oyj. Board Change • Dec 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Ilkka Hiidenheimo was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Annuncio • Dec 03
Lemonsoft Oyj, Annual General Meeting, Apr 14, 2026 Lemonsoft Oyj, Annual General Meeting, Apr 14, 2026. Annuncio • Nov 28
Lemonsoft Oyj Announces Executive Changes, Effective 1 December 2025 Lemonsoft Oyj strengthens its management team as of 1 December 2025. Kari Yli-Hakuni has been appointed Product Management Director and member of the management team. At the same time, Kari Joki-Hollanti will transition from Chief Product Officer to Chief Development Officer, enabling a stronger focus on long-term development projects. Kari Yli-Hakuni joins Lemonsoft’s management team as of 1 December 2025 and will be responsible for the entire Lemonsoft Oyj’s product management organisation. Yli-Hakuni joined Lemonsoft in August 2025 and has recently served as ERP Product Manager. He has over 25 years of experience in ERP and SaaS product organisations. Prior to joining Lemonsoft, he served at Visma as Business Director and held several senior product management and consulting leadership roles. The updated management team consists of the following people and roles: Alpo Luostarinen, Chief Executive Officer; Kari Joki-Hollanti, Chief Development Officer; Mari Erkkilä, Chief Financial Officer; Janne Tammi, Chief Technology Officer; Jarno Lehikoinen, Chief Sales Officer (as of 8 December 2025); Kari Yli-Hakuni, Product Management Director. Annuncio • Apr 09
Lemonsoft Oyj Resolves Dividend for the Accounting Period Ended on 31 December 2024, Payable on 23 April 2025 Lemonsoft Oyj at its Annual General Meeting held on 9 April 2025 resolved that a dividend of EUR 0.14 per share will be paid according to the confirmed balance sheet for the accounting period ended on 31 December 2024, corresponding to a total dividend payout of approximately EUR 2.6 million. The dividend shall be paid to shareholders registered on the record date, 11 April 2025, as a shareholder in the company’s shareholders’ register maintained by Euroclear Finland Oy. The Board of Directors proposes that the dividend be paid on 23 April 2025. The Annual General Meeting resolved that the share of profits not paid out in dividends for the accounting period be transferred to the company’s retained earnings account. Annuncio • Feb 20
Lemonsoft Oyj to Report Fiscal Year 2024 Final Results on Mar 17, 2025 Lemonsoft Oyj announced that they will report fiscal year 2024 final results at 1:00 PM, USSR Zone1 on Mar 17, 2025 Annuncio • Nov 22
Lemonsoft Oyj Announces Change in Management Team Lemonsoft Oyj ("Lemonsoft") renews the group's management team as of November 22, 2024. The new management team consists of the following people and roles: Alpo Luostarinen, Chief Executive Officer; Kari Joki-Hollanti, Chief Product Officer; Mari Erkkilä, Chief Financial Officer; Tuomas Koivisto, Chief Commercial Officer and Janne Tammi, Chief Technology Officer. Janne Tammi joins Lemonsoft’s management team as of November 22, 2024 and will be responsible for the entire Lemonsoft Oyj’s product development organization. Tammi has been with Lemonsoft since 2019, and in recent years he has been responsible for the technology team and the architecture of the Lemonsoft product. Tammi has over 15 years of experience in various roles within product organizations of domestic companies in Finland and North America. The company's founder and current Development Director, Kari Joki-Hollanti, will continue as a member of the management team and takes on the role of Chief Product Officer, overseeing the group’s product management. Pauli Siirtola will step down from his role as Product Management Director and his position in the management team as of November 22, 2024. Siirtola will continue with the company until January 1, 2025. Reported Earnings • Nov 06
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €7.32m (up 7.2% from 3Q 2023). Net income: €1.72m (up 3.9% from 3Q 2023). Profit margin: 24% (in line with 3Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Germany. Annuncio • Oct 25
Lemonsoft Oyj (HLSE:LEMON) commences an Equity Buyback Plan for 1,800,000 shares, representing 9.7% of its issued share capital, under the authorization approved on April 9, 2024. Lemonsoft Oyj (HLSE:LEMON) commences share repurchases on October 24, 2024, under the program mandated by shareholders in the Annual General Meeting held on April 9, 2024. As per the mandate, the company is authorized to repurchase up to 1,800,000 shares, representing 9.7% of its share capital. The shares can be repurchased at a price formed on First North Growth Market Finland on the date of the repurchase or at a price otherwise determined by the markets. The purpose of the program is to finance or carry out acquisitions or other arrangements, to implement the company’s incentive schemes, to develop the company’s capital structure, or for other purposes as decided by the Board of Directors. The shares shall be repurchased using the company’s unrestricted equity. The authorization will be valid till Annual General Meeting of the company in 2025 or June 30, 2025, if earlier. As of March 4, 2024, the company had 18,562,005 issued shares.
On October 4, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 1.6% of its share capital for €2 million. The program will commence from October 7, 2024, and will be valid till Annual General Meeting of the company in 2025. As of October 4, 2024, the company had 18,671,632 issued shares and 0 treasury shares. Annuncio • Oct 15
Lemonsoft Oyj Announces Composition of the Shareholder's Nomination Board Lemonsoft Oyj have appointed the following members to the Shareholder’s Nomination Board: Victor Mellgren, appointed by Rite Internet Ventures AB; Jarmo Kinnunen, appointed by Kari Joki-Hollanti; Niklas Johansson, appointed by Handelsbanken Fonder. At the first meeting, Victor Mellgren was appointed as the Chairman of the Nomination Board. The Chairman of the Board of Lemonsoft Oyj acts as an expert member of the Nomination Board. The right to nominate members to represent shareholders rests with three shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd. or another operator on the last business day of August in the year preceding the Annual General Meeting and who hold the largest number of votes conferred by shares according to the shareholder register. The Shareholders’ Nomination Board is a body established by the Annual General Meeting consisting of the company's shareholders, whose task is to prepare proposals on the election and remuneration of the members of the Board of Directors for Lemonsoft’s Annual General Meeting. Annuncio • Sep 25
Lemonsoft Oyj Announces CEO Changes Lemonsoft Oyj’s Board of Directors has nominated Alpo Luostarinen, M.Sc. (Econ.), as the company’s new CEO as of September 25, 2024. Luostarinen has served the company since 2021 and has acted as Director responsible for mergers and acquisitions as well as investor relations. Prior to this, he has been in several positions in M&A, financing and management consulting in various organizations. Lemonsoft’s founder Kari Joki-Hollanti has acted as the company’s Interim CEO since March 2024. Joki-Hollanti will continue as Lemonsoft’s Development Director and Board member as of September 25, 2024, continuing to focus on developing the competitiveness of Lemonsoft’s product family. Alpo Luostarinen has been responsible for i.a. acquisitions and as a member of the management team has been involved in the development of the company's key operations. In addition, he has played a significant role in the development of Lemonsoft as a listed company and has successfully lead the company's investor relations. Annuncio • Aug 21
Lemonsoft Oyj Announces Riku Åkerblom Will Leave as Chief Delivery Officer and Member of the Management Team Lemonsoft Oyj announced that its Chief Delivery Officer and member of the management team Riku Åkerblom will leave his role and position in Lemonsoft’s management team on August 20, 2024. The updated management team consists of the following people and roles: Kari Joki-Hollanti, Interim CEO. Mari Erkkilä, Chief Financial Officer. Pauli Siirtola, Director, Product management. Alpo Luostarinen, Director, M&A and Investor Relations. Tuomas Koivisto, Chief Commercial Officer. Reported Earnings • Aug 09
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €7.03m (up 14% from 2Q 2023). Net income: €759.0k (down 23% from 2Q 2023). Profit margin: 11% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Germany. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €6.94, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 15x in the Software industry in Germany. Total loss to shareholders of 7.1% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €7.90 per share. Annuncio • Jul 02
Lemonsoft Oyj (HLSE:LEMON) acquired Applirent Oy for €2.80 million. Lemonsoft Oyj (HLSE:LEMON) acquired Applirent Oy for €2.80 million on July 1, 2024. The purchase price for the share capital of Applirent Oy is approximately €2.3 million, and the net debt-free enterprise value is €2.0 million. The purchase price will be paid 75% in cash and 25% in shares at closing. In addition, the parties have agreed on an additional purchase price based on Applirent Oy’s EBIT for the years 2024-2026. The additional purchase price amounts to a maximum of €0.8 million, and if realized, will be paid fully in cash.
For the period ending October 31, 2023, Applirent Oy reported total revenue of €0.8 million. As of October 31, 2023, Applirent Oy’s net cash was approximately €0.3 million. The company’s founders Tuomas Niemi, Antti Lehikoinen, and Vesa Harjunen will continue to work for Applirent Oy, with Tuomas Niemi continuing as CEO.
Lemonsoft Oyj (HLSE:LEMON) completed the acquisition of Applirent Oy on July 1, 2024. Annuncio • May 30
Lemonsoft Oyj Announces Appointment of Tuomas Koivisto as Chief Commercial Officer and Member of the Management Team Lemonsoft Oyj announced Tuomas Koivisto has been appointed as Chief Commercial Officer (CCO) of Lemonsoft Oyj and member of the management team. The updated management team consists of the following people and roles: Kari Joki-Hollanti, Interim CEO, Mari Erkkilä, Chief Financial Officer, Pauli Siirtola, Director, Product management,Alpo Luostarinen, Director, M&A and IR, Riku Åkerblom, Chief Delivery Officer, Tuomas Koivisto, Chief Commercial Officer. In his role as Chief Commercial Officer, Tuomas Koivisto is responsible for leading Lemonsoft’s sales and marketing functions on a group level. The CCO has an integral role in developing sales and marketing of all Lemonsoft Group’s products and executing Lemonsoft’s commercial strategy. Tuomas has successfully run Finvoicer Group Oy as its CEO for the past 10 years and will also continue in that role. Annuncio • Apr 27
Lemonsoft Oyj Announces Changes to Management Team Lemonsoft Oyj announced that Chief Human Resource Officer (CHRO) and member of the management team, Marjaana Murtomaa, will leave her role and position in Lemonsoft’s management team on April 26, 2024. The updated management team consists of the following people and roles: Kari Joki-Hollanti Interim CEO, Mari Erkkilä Chief Financial Officer,Pauli Siirtola, Director, Product management, Alpo Luostarinen Director, M&A and Investor Relations,Riku Åkerblom Chief Delivery Officer. Reported Earnings • Apr 26
First quarter 2024 earnings released First quarter 2024 results: Revenue: €6.94m (up 17% from 1Q 2023). Net income: €653.0k (down 30% from 1Q 2023). Profit margin: 9.4% (down from 16% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Software industry in Germany. Annuncio • Apr 10
Lemonsoft Oyj Approves Dividend for the Accounting Period Ending on 31 December 2023, Payable on 22 April 2024 Lemonsoft Oyj resolved at its AGM held on 9 April 2024 that a dividend of EUR 0.14 per share will be paid according to the confirmed balance sheet for the accounting period ending on 31 December 2023, corresponding to a total dividend payout of approximately EUR 2.6 million. The dividend shall be paid to shareholders registered on the record date, 11 April 2024, as a shareholder in the company’s shareholders’ register maintained by Euroclear Finland Oy. The Board of Directors proposes that the dividend be paid on 22 April 2024. Upcoming Dividend • Apr 03
Upcoming dividend of €0.14 per share Eligible shareholders must have bought the stock before 10 April 2024. Payment date: 22 April 2024. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.2%). Annuncio • Mar 29
Lemonsoft Oyj Announces Chief Executive Officer Changes The board of directors of Lemonsoft Oyj and Jan-Erik Lindfors have mutually agreed that Lindfors will leave the role as CEO with immediate effect. The Board of Directors has initiated the search for a new CEO. The Board of Directors of Lemonsoft Oyj has appointed the founder of Lemonsoft Oyj and the group’s Development Director Kari Joki-Hollanti as the interim CEO. He will commence in this position with immediate effect. In addition to the role as interim CEO, Joki-Hollanti will also continue in the role as Development Director. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: €0.29 (vs €0.27 in FY 2022) Full year 2023 results: EPS: €0.29 (up from €0.27 in FY 2022). Revenue: €26.3m (up 17% from FY 2022). Net income: €5.30m (up 5.4% from FY 2022). Profit margin: 20% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Software industry in Germany. Annuncio • Mar 22
Lemonsoft Oyj Announces Executive Appointments, Effective March 25, 2024 Lemonsoft Oyj announced that Marjaana Murtomaa (Chief HR Officer) and Riku Åkerblom (Chief Delivery Officer) have been appointed as new members of the management team. Murtomaa and Åkerblom will start working for Lemonsoft and as members of the management team on March 25, 2024. The updated management team consists of the following people and roles: Jan-Erik Lindfors, Chief Executive Officer; Mari Erkkilä, Chief Financial Officer; Kari Joki-Hollanti, Chief Product Officer; Pauli Siirtola, Director, Product management; Alpo Luostarinen, Director, M&A and Investor Relations; Marjaana Murtomaa, Chief HR Officer; Riku Åkerblom, Chief Delivery Officer. In her role as Chief HR Officer, Marjaana Murtomaa is responsible for Lemonsoft’s HR strategy, policies and operations as well as developing Lemonsoft’s organizational culture. Marjaana has extensive experience in HR operations in the software and SaaS industry ranging from organizational design and scaling up operations to developing and deploying and managing HR processes. In his role as Chief Delivery Officer, Riku Åkerblom is responsible for Lemonsoft’s customer success, customer deliveries and customer support as well as developing the company’s professional services offering. Previously, Riku worked at Sympa Oy as VP, Services and has over 15 years’ experience from customer delivery and scaling up SaaS businesses in the Nordics and in Europe. Buy Or Sell Opportunity • Mar 12
Now 20% undervalued Over the last 90 days, the stock has risen 15% to €6.00. The fair value is estimated to be €7.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has declined by 8.0%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: €0.29 (vs €0.18 in FY 2022) Full year 2023 results: EPS: €0.29 (up from €0.18 in FY 2022). Revenue: €26.8m (up 19% from FY 2022). Net income: €5.30m (up 64% from FY 2022). Profit margin: 20% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Buy Or Sell Opportunity • Feb 02
Now 21% undervalued Over the last 90 days, the stock has risen 23% to €5.82. The fair value is estimated to be €7.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Ilkka Hiidenheimo was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Jan 16
Now 22% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be €7.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Annuncio • Dec 08
Lemonsoft Oyj to Report Fiscal Year 2023 Results on Feb 15, 2024 Lemonsoft Oyj announced that they will report fiscal year 2023 results on Feb 15, 2024 Buying Opportunity • Nov 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €6.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €5.66, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 40% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €7.33 per share. Reported Earnings • Oct 28
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €6.83m (up 18% from 3Q 2022). Net income: €1.66m (up 93% from 3Q 2022). Profit margin: 24% (up from 15% in 3Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. New Risk • Oct 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €92.0m (US$96.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (114% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (€92.0m market cap, or US$96.8m). Buying Opportunity • Sep 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €7.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has declined by 60%. For the next 3 years, revenue is forecast to grow by 9.4% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: €0.053 (vs €0.052 in 2Q 2022) Second quarter 2023 results: EPS: €0.053 (up from €0.052 in 2Q 2022). Revenue: €6.16m (up 16% from 2Q 2022). Net income: €990.0k (up 3.1% from 2Q 2022). Profit margin: 16% (down from 18% in 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Annuncio • Aug 12
Lemonsoft Oyj Provides Earnings Guidance for the Year 2023 Lemonsoft Oyj provided earnings guidance for the year 2023. For the year, following the acquisition of Finvoicer Group Oy, the company expects net sales will increase by 15% to 20% compared to the financial year 2022.