Uptime is expanding in Estonia and foreign markets, the model so far has proved to be well established
Software company Uptime started 2018 with offices in Estonia, Norway and Switzerland and expanded to Denmark during the course of the year. The largest market is still Estonia, but the foreign offices are thriving in such a way that their income will catch up with Estonia very soon.
The consolidated sales revenue for 2018 was 6.25 million euros, an increase of 14% compared to the previous year. EBITDA increased 24% to EUR 1.3 million.
Estonia still had the largest market with 3.636 million (58% of total revenue), followed by Norway with 1.560 million (25%) and other countries totaling 1.051 million euros (17%).
In 2019, the income earned from the Group’s foreign markets is expected to exceed that of Estonia.