InVision AG

Quarterly Report • Nov 30, 2023

Consolidated Interim Statements 9M 2023

of InVision AG as of 30 September 2023

Consolidated Balance Sheet

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Consolidated Statement of Equity

Explanatory Notes

Financial Summary

(in TEUR)	9M 2023	9M 2022	∆*
Total Revenues	11,723	10,724	+9%
EBIT	-1,382	-2,329	+41%
as a % of revenues	-12%	-22%	+10 PP
Consolidated result	-1,935	-2,998	+35%
as a % of revenues	-17%	-28%	+11 PP
Operating cash flow	794	-294	+370%
as a % of revenues	7%	-3%	+10 PP
Earnings per share (in EUR)	-0.89	-1.33	+33%

(in TEUR)	30 Sep 2023	31 Dec 2022	∆*
Balance sheet total	18,921	18,918	+0%
Liquid funds	7,105	6,489	+9%
Equity	6,151	7,965	-23%
as a % of balance sheet total	33%	42%	-9 PP

* The calculation of deviations from the previous year is based on non-rounded figures.

Consolidated Balance Sheet

InVision AG, 30 September 2023 IFRS, in Euro (condensed/unaudited)

Assets	30 Sep 2023	31 Dec 2022
Short-term assets
Liquid funds	7,104,976	6,489,076
Trade receivables	1,709,351	1,598,791
Income tax claims	0	7,654
Prepaid expenses and other short-term assets	378,571	223,625
Total short-term assets	9,192,898	8,319,146
Long-term assets
Intangible assets	196,391	231,420
Tangible assets	7,583,264	7,904,710
Right-of-use assets	1,040,261	1,037,355
Deferred taxes	897,714	1,413,060
Other long-term assets	10,647	12,115
Total long-term assets	9,728,277	10,598,660
Total assets	18,921,175	18,917,806

Equity and liabilities	30 Sep 2023	31 Dec 2022
Short-term liabilities
Leasing liabilities	220,430	200,491
Trade payables	303,785	172,596
Provisions	378,427	185,879
Income tax liabilities	174,065	207,267
Customer contract liabilities and other liabilities	2,715,781	1,199,733
Total short-term liabilities	3,792,488	1,965,966
Long-term liabilities
Bank loans	8,040,000	8,040,000
Leasing liabilities	937,212	947,064
Total long-term liabilities	8,977,212	8,987,064
Equity
Subscribed capital	2,235,000	2,235,000
Reserves	1,480,712	1,359,169
Equity capital difference from currency translation	-433,044	-490,923
Group/consolidated result	2,868,807	4,861,530
Total equity	6,151,475	7,964,776
Total equity and liabilities	18,921,175	18,917,806

Consolidated Statement of Comprehensive Income

InVision AG, 30 September 2023 IFRS, in Euro (condensed/unaudited)

	1 Jan - 30 Sep 2023	1 Jan - 30 Sep 2022
Revenues	11,723,074	10,724,387
Other operating income	92,073	54,059
Personnel expenses	-9,771,344	-9,675,167
Amortisation/depreciation of intangible and tangible assets	-546,591	-534,440
Other operating expenses	-2,879,333	-2,898,031
Operating result (EBIT)	-1,382,121	-2,329,192
Financial result	-47,936	-91,640
Currency losses/gains	-9,338	-19,859
Result before taxes (EBT)	-1,439,395	-2,440,691
Income tax	-553,328	-533,876
Consolidated net loss	-1,992,723	-2,974,567
Items recognised outside of profit or loss Exchange rate differences from converting foreign financial statements	57,879	-23,273
Consolidated result	-1,934,844	-2,997,840
Earnings per share (diluted and undiluted)	-0.89	-1.33

Consolidated Cash Flow Statement

InVision AG, 30 September 2023

IFRS, in Euro (condensed/unaudited)

	1 Jan - 30 Sep 2023	1 Jan - 30 Sep 2022
Cash flow from operating activities
Consolidated result	-1,992,723	-2,974,567
+ Depreciation and amortisation of fixed assets	546,591	534,440
Profits(-)/losses(+) from the disposal of intangible and tangible assets	-6,685	-3,050
Decrease(-)/increase(+) in provisions	192,548	-66,940
Increase(-)/decrease(+) in deferred taxes	515,346	518,168
Other non-cash income(-)/expenses(+)	132,996	88,379
Increase(-)/decrease(+) in trade receivables	-110,560	35,109
Increase(-)/decrease(+) in other assets and prepaid expenses	-153,478	-49,657
Decrease(-)/increase(+) in income tax liabilities/claims (netted)	-25,548	259,928
Decrease(-)/increase(+) in trade payables	131,189	125,087
Decrease(-)/increase(+) in other liabilities and customer contract liabilities	1,516,048	1,147,196
Interest income (-)/Interest expenses (+)	47,936	91,640
Cash flow from operating activities	793,660	-294,267

Cash flow from investing activities

- Payments made for investments in tangible assets	-14,963	-68,049
- Payments made for investments in intangible assets	-9,055	-6,000
+ Payments received from the disposal of intangible and tangible assets	7,482	3,050
+ Interest received	78,009	0
Cash flow from investing activities	61,473	-70,999
Cash flow from financing activities
+ Additions to long-term financing liabilities	0	3,000,000
- Payments made for redemption of lease liabilities	-158,543	-146,872
- Interest paid	-125,946	-91,640
Cash flow from financing activities	-284,489	2,761,488
Change in cash and cash equivalents	570,645	2,396,222
Effect of foreign exchange rate changes on cash and cash equivalents	45,255	-23,352
Cash and cash equivalents at the beginning of the period	6,489,076	6,338,332
Cash and cash equivalents at the end of the period	7,104,976	8,711,202

Consolidated Statement of Equity

InVision AG, 30 September 2023 IFRS, in Euro (condensed/unaudited)

	Subscribed capital	Reserves	Equity capital difference from currency translation	Profit/Losses	Equity
31 December 2022	2,235,000	1,359,169	-490,923	4,861,530	7,964,776
Consolidated net profit	0	0	0	-1,992,723	-1,992,723
Exchange rate difference from converting foreign financial statements	0	0	57,879	0	57,879
Total of costs and income	0	0	57,879	-1,992,723	-1,934,844
Stock option plan	0	121,543	0	0	121,543
30 September 2023	2,235,000	1,480,712	-433,044	2,868,807	6,151,475

	Subscribed capital	Reserves	Equity capital difference from currency translation	Profit/Losses	Equity
31 December 2021	2,235,000	1,204,142	-408,788	8,839,822	11,870,176
Consolidated net profit	0	0	0	-2,974,567	-2,974,567
Exchange rate difference from converting foreign financial statements	0	0	-23,273	0	-23,273
Total of costs and income	0	0	-23,273	-2,974,567	-2,997,840
Stock option plan	0	115,715	0	0	115,715
30 September 2022	2,235,000	1,319,857	-432,061	5,865,255	8,988,051

Explanatory Notes

of InVision AG as of 30 September 2023 (condensed/unaudited)

Expected development of InVision

Considering the impact of initiatives introduced in the current financial year to return to profitability while maintaining growth potential, we expect an increase in revenues of six to eight percent and an EBIT in the range of EUR -1.4 million and EUR -1.6 million in the 2023 financial year.