Growens — Earnings Release 2022

Oct 10, 2022

Informazione Regolamentata n. 20054-89-2022		Data/Ora Ricezione 07 Ottobre 2022 17:28:39	Euronext Growth Milan
Societa'	:	GROWENS
Identificativo Informazione Regolamentata	:	168031
Nome utilizzatore	:	MAILUPN03 - Capelli
Tipologia	:	REGEM; 3.1; 2.2
Data/Ora Ricezione	:	07 Ottobre 2022 17:28:39
Data/Ora Inizio Diffusione presunta	:	10 Ottobre 2022 08:30:03
Oggetto	:	CPaaS Sales up 60%	SaaS Annual Recurring Revenues up 32%,
Testo del comunicato

Milan, 10 October, 2022 – Growens S.p.A. –GROW (the "Company" or the "Issuer" or "Growens"), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, has announced today certain data from management accounts, related to the business lines SaaS (Software as a Service) and CPaaS (Communication Platform as a Service).

Data show the following results:

-as per the SaaS business line, an ARR of 29.2M EUR as of September 2022, growing 31.7% vs the same period in 2021 (or 4.8% organic);

-as per the CPaaS business line, gross sales growing 60.2% in Q3 2022 at 17.6M EUR, vs 11.0M EUR in Q3 2021.

PRICE SENSITIVE

PRESS RELEASE

SaaS Annual Recurring Revenues up 32% CPaaS Sales up 60%

Milan, 10 October, 2022 – Growens S.p.A. –GROW (the "Company" or the "Issuer" or "Growens"), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, has announced today certain data from management accounts, related to the business lines SaaS (Software as a Service) and CPaaS (Communication Platform as a Service).

Data show the following results:

• as per the SaaS business line, an ARR of 29.2M EUR as of September 2022, growing 31.7% vs the same period in 2021 (or 4.8% organic);
• as per the CPaaS business line, gross sales growing 60.2% in Q3 2022 at 17.6M EUR, vs 11.0M EUR in Q3 2021.

Main figures

SAAS ARR

Business Unit	ARR September 2022	ARR September 2021	Ch %
MailUp+Contactlab	14,913	11,321	31.7%
BEE	9,810	6,591	48.8%
Acumbamail	2,093	1,782	17.5%
Datatrics	2,384	2,479	(3.8%)
Total	29.201	22.173	31.7%

Data in EUR/000.

Data from management accounts, not subject to a BoD resolution, unaudited. Data do not include Contactlab's ARR as of September 2021.

Annual Recurring Revenue is calculated as the sum of unterminated annual subscriptions active as of September 2022 e 2021. Monthly subscriptions are annualized (multiplied by 12). Subscriptions represent recurring revenues: they do not include professional services, SMS traffic, and other services sold on a one-off basis, whereas they include usage fees such as API calls, image hosting and additional users with a recurring pattern (September 2022 estimates). ARR is not comparable with historical CPaaS sales below.

CPAAS SALES

Business Unit	Q3 2022	Q3 2021	Var %
Agile Telecom	17,574	10,969	60.2%
Totale	17,574	10,969	60.2%

Data in EUR/000.

Data from management accounts, not subject to a BoD resolution, unaudited. Figures might differ from reported sales because of period adjustments.

Within the CPaaS business line, Agile Telecom recorded Q3 sales of ca 17.6M EUR sales, up 60+% over the same period of the previous year, thanks to the acquisition of strategic clients (most foreign), notwithstanding the regular business slow-down of summer months.

Within the SaaS business line, the business unit which recorded the highest growth rate is BEE (beefree.io), with a 9.8M EUR ARR (or 10.2M USD), calculated applying the average FX rate as of the date of subscriptions, up 49+% (or 33% at constant FX) over the same period of the previous year, thanks to a combined increase in both volumes and usage.

Acumbamail's performance is also very good (growing 17+%), whereas MailUp+Contactlab posts growing sales (32%, of which 5% organic), not including the SMS sales nor Contactlab's Agency component. The Datatrics business unit sales, operating in the Predictive Marketing space with a proprietary Customer Data Platform, generated a 2.4M EUR ARR, with a flat -4% YoY.

Growens (GROW) is a vertically integrated player in the field of Cloud Marketing Technologies. Its growing suite of data-driven solutions allows SMEs and large corporations globally to master the evolving ways of communicating with customers. Starting from the parent company, which includes the MailUp business unit (Email marketing technology), the group boasts a steady growth path both organically and through acquisitions: Acumbamail (Spanish and LatAm markets), Agile Telecom (wholesale SMS market) and Datatrics (artificial intelligence), Contactlab (Email marketing enterprise). The brand portfolio is completed by BEE, an email editor launched in 2017 as a complementary business line, already covering thousands of customers worldwide. Today, Growens is a leading European player in the field of Cloud Marketing Technologies, serving 26,000+ customers in 100+ countries.

The company is admitted to trading on the AIM Italia market managed by the Italian Stock Exchange, with a free float of 35%.

ISIN IT0005040354 - Reuters: GROW.MI - Bloomberg: GROW IM

Media & Guidelines: https://growens.io/en/media-guidelines

For further information

Growens Investor Relations Micaela Cristina Capelli +39 02 71040485 investor.relations@growens.io

Growens Press Office Maria Giulia Ganassini +39 02 89603080 press@growens.io

growens.io

Euronext Growth Advisor BPER Banca +39 051 2756537 growens@bper.it

iCorporate – Growens Press Office

Danja Giacomin +39 334 2256777 Alberto Colombini +39 346 6016675 growens@icorporate.it

Arrowhead Business and Investment Decisions, LLC Thomas Renaud +1 212 619 6889 enquire@arrowheadbid.com arrowheadbid.com