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Software and cloud services propel Crayon's Q4 earnings

Crayon's Q4 results show a 27% increase in gross profit and a cash flow of NOK 2.1bn (£160m), driven by strong software and cloud services demand. 

The MSP also achieved a 15% profit margin with an EBITDA of NOK 241m (£18.13m).

Crayon CEO Melissa Mulholland said: "As reflected in our gross profit performance, we continue to see strong demand for software and cloud.

"We remain committed to continued efficiency measures to increase profitability and net working capital. With the increase in cloud spend and demand for AI, we are uniquely positioned to capture market demand.”

Gross profit growth remind solid, backed by sustained strong performance in the Nordics and Europe.