Monterro releases new benchmark report: Six in ten Nordic SaaS companies have adopted AI. Two thirds expect increased growth.

Monterro has conducted its fifth Nordic B2B Software Benchmark Report. The report provides a unique insight into how the industry is navigating a new phase of disciplined growth, accelerating AI adoption, and intensifying strategic competition. The study is based on responses from over 230 Nordic B2B software companies and is presented during the Nordic Software Tour where Monterro meets 800 entrepreneurs in 18 cities across the Nordics from Aarhus in Denmark to Oulu in Finland.

– "After two years of recalibration, Nordic software companies are entering 2026 with the strongest growth confidence we have ever seen in this benchmark. 64% expect accelerating growth, that's nearly double last year's net sentiment," says Gustav Lagercrantz, CEO of Monterro. "At the same time, the nature of competition is changing. AI is the biggest shift in software since the internet. The companies that will win are those who not only implement AI, but monetize it, and who sharpen their positioning as barriers to entry fall."

AI reshapes how software is built, what products can do, and how companies operate.

According to the study, 60% of Nordic software companies have now moved beyond experimentation of AI into implementation or full integration, yet only 9% report significant monetization or view AI as a core revenue driver.

– "Almost every software company in the Nordics is now using AI in some form. But implementation and monetization are two very different things," says Gustav Lagercrantz, CEO of Monterro. "The companies that are actually converting AI into revenue are growing faster and retaining customers significantly better according to our study. That gap between those who implement and those who monetize will define who wins the next cycle."

Nordic B2B SaaS market enters a new phase of strategic re-acceleration

Monterro's study shows that while average revenue growth moderated from 32% in 2024 to 25% in 2025, profitability improved significantly with EBIT margins rising from 0% to 4%. The market is healthier, more disciplined, and increasingly optimistic about what comes next.

Some of the key trends in the report:

• Growth sentiment is at an all-time high: 64% of companies expect accelerating growth in 2026, up from 51% last year, resulting in a net sentiment of +44, nearly double last year's level.
• AI adoption has crossed a critical threshold. 60% of Nordic software companies have now reached the implementation or integration stage, up from 42% in 2024. Only 2% have not yet started their AI journey.
• There is a significant monetization gap. While 43% of companies generate some AI-related revenue (up from 34%), only a minority see AI as a core revenue driver. Companies that do are growing faster and retaining customers better, reporting an average NRR of 116%, compared to 104% for those not monetizing AI.
• Strategic challenges are rising up the agenda. Positioning, competitive differentiation, and pricing are becoming top pressure points, particularly as AI lowers barriers to entry. For five years, sales execution was the dominant challenge; it remains number one, but strategic challenges are accelerating fast.
  Customer satisfaction is declining. Overall NPS fell from 47 to 42, with the sharpest drop in the SMB segment (from 42 to 30). Net Revenue Retention also continued its gradual decline to 104.4%.
• Pricing models are diversifying. Feature-based and usage-driven pricing is on the rise, with nearly half of companies now operating with three or more pricing models.

– "What also stands out this year is the shift in what keeps founders up at night. Sales execution is maturing. The new pressure point is differentiation, and that is a harder, more strategic problem to solve. You can't buy your way out of weak positioning," continues Gustav Lagercrantz.

Read the full report here