A Market in Transformation
The 2025–2026 fiscal year was an important one for NorthCode. We returned to profitability, strengthened our financial position, and took a significant step forward in positioning ourselves in a rapidly changing expert services market.
AI are fundamentally reshaping the software industry and the market for technology expertise. The ways in which software is designed, developed, maintained, and operated are changing rapidly, as are clients’ expectations of their technology partners.
During the past fiscal year, we succeeded in significantly streamlining our offering in response to this new environment. We sharpened our focus on the areas where NorthCode can create the greatest value and adapted our expertise and services to a market that already looks very different from only a few years ago.
Our Fiscal Year 2025–2026
NorthCode Oy generated revenue of approximately EUR 2.55 million, compared with EUR 2.59 million in the previous fiscal year. While revenue remained broadly stable, profitability improved significantly. Operating profit increased to EUR 98.7 thousand, and profit for the fiscal year amounted to EUR 95.4 thousand.
After two challenging years, returning to profitability is an important milestone. More importantly, it demonstrates that we have been able to reshape our business while continuing to deliver value to our clients.
A New Chapter with NorthCode Alfa
Another significant milestone was the establishment of NorthCode Alfa Oy, NorthCode’s subsidiary, in June 2025. NorthCode Alfa completed its first fiscal year profitably, generating revenue of EUR 1.11 million.
More than 80% of NorthCode Alfa’s shares are owned by its employees. This ownership structure is at the heart of our business model. Its purpose is to make working life more open and equitable by aligning ownership more closely with the people doing the work.
Creating Client Value in an Accelerating AI Transformation
Our work with AI and LLM technologies has moved beyond exploring their potential. During the year, we applied new AI- and LLM-based approaches to create tangible benefits for our clients, improve development practices, and build more effective technology solutions.
We believe this transformation is still at an early stage and will continue to accelerate. For us, this is first and foremost an opportunity to build increasingly comprehensive solutions that combine platforms, automation, AI, and deep software development expertise. Our focus will remain firmly on turning technological progress into genuine client value, making software development more effective, and reducing unnecessary complexity.
Conclusion
Finally, I want to thank our clients and partners for their continued trust and willingness to build the future together with us.
Most importantly, I want to thank every NorthCoder. Our ability to respond to a rapidly changing market is built on your expertise, curiosity, and willingness to continuously rethink how things can be done better.
