CM.com N.V. — Earnings Release 2021

Apr 20, 2021

QUARTERLY TRADING UPDATE

CM.COM IS CONTINUING ITS STRONG GROWTH PATH

Core revenue growth y-o-y 73% in Q1 2021

BREDA, 20 APRIL 2021

Q1 2021 Highlights

• Core revenue increased by 73% to € 47.7 million, organic core revenue growth was 64%
• Core gross profit increased by 97% to € 12.0 million, organic core gross profit growth was 63%
• FY 2021 total revenue expected to come in between € 205 million € 225 million (FY 2021 core revenue expected between € 200 million – € 220 million)

Key Financials	Q1 2021	Q1 2020	Q1 - Q1 ∆
Total revenue (€ millions)	49.8	29.3	+70%
Core revenue (€ millions)	47.7	27.6	+73%
Core gross profit (€ millions)	12.0	6.1	+97%
Core gross margin	25%	22%

Key Performance Indicators	Q1 2021	Q1 2020	Q1 - Q1 ∆
Number of messages (millions)	1,151	867	+33%
Number of voice minutes (millions)	163	37	+349%
Total payments processed (€ millions)	207	166	+25%
Number of tickets (millions)	0.2	0.5	(64%)

Message from the CEO

In the first quarter of 2021, we continued our stellar growth path in both revenue and gross profit. Growth was fueled by both existing and new customers, particularly in the APAC region. In addition, we saw a healthy demand for the Mobile Marketing Cloud and Mobile Service Cloud.

On the back of these strong Q1 results, our increased sales efforts and the revenue of recent acquisitions, we feel confident to give more color on our expectations for 2021. We expect 2021 total revenue to come in between € 205 million to € 225 million.

Jeroen van Glabbeek CEO CM.com

Continued strong revenue and gross profit growth

In Q1 2021, core revenue continued to grow at a rapid pace of 73% year-over-year to € 47.7 million. Organic core revenue grew by 64%. All segments, CPaaS, Payments, and Platform, contributed to the growth with CPaaS as the main driver in absolute terms, due to increased messaging and very strong voice volumes.

Platform saw continued demand for subscription services, such as the Mobile Marketing Cloud and the Mobile Service Cloud. Additionally, the acquisitions of CX Company and RobinHQ contributed positively to Platform revenue. Organic Platform revenue growth, however, remained subdued due to lower Ticketing revenue.

Obviously, the pandemic and its related lockdowns continue to negatively impact our Ticketing business. Nevertheless, we do see initial signs of recovery on the back of easing of lockdowns, with the first sold-out events in the UK and some events in the Netherlands.

Core gross profit almost doubled with a growth rate of 97% to € 12.0 million, on the back of strong revenue growth and a favorable gross margin development. Organic core gross profit also showed a healthy growth rate of 63%.

Strategy roll out and global expansion

In Q1 2021, the total number of full time employees (FTE) has grown by 18% to 591. We have started building teams in Brazil and Mexico and added 39 FTE through the acquisition of PayPlaza.

#FTE	As at 31 March 2021	As at 31 December 2021	∆
Sales and Marketing	325	273	+19%
Research and Development	188	156	+20%
General and Administration	78	71	+10%
Total	591	500	+18%

Acquisitions

In March 2021, CM.com acquired fintech company PayPlaza, an innovative Point of Sale (POS) Payment Acceptance Platform. The acquisition formed a next step to offer omnichannel communications and payments solutions from one single platform.

CM.com further strengthened its position in the Dutch events and venue ticketing business, by the acquisition of Yourticketprovider.

2021 Outlook

Once lockdowns will ease, we expect our results to be positively impacted by the reopening of venues and the return of events. Additionally, we expect messaging volume of the retail and travel industry to return to pre-pandemic levels and retain part of the current additional Covid-related revenue. These positive developments more than compensate the Covid-related revenue that might vanish post Covid. In combination with our increased sales efforts and the revenue of recent acquisitions, we expect FY 2021 total revenue to come in between € 205 million - € 225 million (core revenue € 200 million - € 220 million).

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Contact Investor Relations

Anneke Hoijtink anneke.hoijtink@cm.com +31 643280788

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. The information was released for publication on 20 April 2021 at 7:30 AM CET

Overview of quarterly KPIs

	2021	2020			2019
	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Total revenue (€ million)	49.8	45.3	38.5	28.5	29.3	29.0	23.0	23.3	21.0
Core revenue (€ million)	47.7	43.2	36.7	26.9	27.6	26.9	20.9	20.6	18.1
Core gross profit (€ million)	12.0	11.0	9.1	5.8	6.1	5.8	5.0	5.7	5.4
Core gross margin (%)	25	25	25	22	22	22	24	26	32
Number of messages (billion)	1.2	1.2	0.9	0.7	0.9	0.8	0.6	0.6	0.5
Numer of voice minutes (million)	163	109	97	52	37	38	34	34	35
Total payments processed (€ million)	207	217	164	183	166	162	169	146	148
Total tickets (million)	0.2	1.4	2.8	0.6	0.5	0.3	0.8	0.5	0.3

About CM.com

CM.com is a listed company (Euronext Amsterdam: CMCOM) and provides Conversational Commerce services from its cloud platform that connects enterprises and brands to the mobile phones of billions of consumers worldwide. Conversational Commerce is the convergence of messaging and payments.

CM.com provides messaging and voice channels, such as SMS, Over The Top (OTT) (e.g. WhatsApp Business, Apple Business Chat, Google RCS, Facebook Messenger, and Viber), Voice API and SIP. These messaging channels can be combined with cloud platform features, like Ticketing, eSignature, Customer Contact, identity services and a Customer Data Platform.

CM.com is a licensed Payment Service Provider (PSP) offering card payments, domestic payment methods and integrated payment methods like WeChat Pay. CM.com has over 600 employees and 20 offices globally. The platform of CM.com delivers fully integrated solutions, based on a privately owned cloud and 100% in-house developed software. By doing so, CM.com can guarantee scalability, time-to market and, global redundancy and delivery.

Forward Looking Statements

Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward-looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are typically identified by the use of terms such as "may," "will", "should", "expect", "could", "intend", "plan", "anticipate", "estimate", "believe", "continue", "predict", "potential" or the negative of such terms and other comparable terminology. The forward-looking statements are based upon our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forwardlooking statements