Growens — Earnings Release 2022

Jan 10, 2023

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Informazione Regolamentata n. 20054-1-2023	Data/Ora Ricezione 10 Gennaio 2023 15:38:17	Euronext Growth Milan
Societa'	GROWENS
ldentificativo Informazione Regolamentata	171351
Nome utilizzatore	MAILUPN03 - Capelli
Tipologia	REGEM; 3.1; 2.2
Data/Ora Ricezione	10 Gennaio 2023 15:38:17
Data/Ora Inizio Diffusione presunta	10 Gennaio 2023 17:50:10
Oggetto	· SaaS Annual Recurring Revenues up 28.6%, CPaaS Sales up 21.3%
Testo del comunicato

Milan, 10 January, 2023 – 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 and CPaaS as of December 2022 and Q4 2022 respectively.

Unaudited data show the following results:

-as per the SaaS (Software as a Service) business line, an ARR of 29.8M EUR as of December 2022, including Contactlab's recurring revenues, growing 28.6% vs the same data of 2021 (or 14.5% organic);

-as per the CPaaS (Communication Platform as a Service) business line, gross sales growing 21.3% in Q4 2022 at 16.2M EUR, vs 13.4M EUR in Q4 2021 and a FY 2022 preliminary sales figure at 64.9; EUR, growing 41.6% over FY 2021.

PRICE SENSITIVE

PRESS RELEASE

SaaS Annual Recurring Revenues up 28.6% CPaaS Sales up 21.3%

Milan, 10 January, 2023 – 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 and CPaaS as of December 2022 and Q4 2022 respectively.

Unaudited data show the following results:

• as per the SaaS (Software as a Service) business line, an ARR of 29.8M EUR as of December 2022, including Contactlab's recurring revenues, growing 28.6% vs the same data of 2021 (or 14.5% organic);
• as per the CPaaS (Communication Platform as a Service) business line, gross sales growing 21.3% in Q4 2022 at 16.2M EUR, vs 13.4M EUR in Q4 2021 and a FY 2022 preliminary sales figure at 64.9; EUR, growing 41.6% over FY 2021.

Main figures

SAAS ARR

ARR December 2022	ARR December 2021	Ch %
15,348	11,515	33.3%
10,056	7,292	37.9%
2,125	1,860	14.2%
2,235	2,487	(10.1%)
29,764	23,153	28.6%

Data in EUR/000.

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

Annual Recurring Revenue is calculated as the sum of unterminated annual subscriptions active as of December 2022 and 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 (December r 2022 estimates). ARR is not comparable with historical CPaaS sales below.

CPAAS SALES

Business Unit	Q4 2022	Q4 2021	Ch %	FY 2022	FY 2021	Ch%
Agile Telecom	16,195	13,356	21.3%	64,861	45,810	41.6%
Totale	16,195	13,356	21.3%	64,861	45,810	41.6%

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. 2021 data were restated to include an update in sales representation, currently showed gross of intercompany operations.

Within the CPaaS business line, Agile Telecom recorded Q4 sales of ca 16.2M EUR sales, up 21+% over the same period of the previous year. This confirms the recovery of economic activities and incorporates the positive contribution of the end of 2022, marked by relevant marketing events such as Black Friday and Christmas holidays, and material growth in foreign sales, which represent ca. 75% of Q4 2022 sales.

Within the SaaS business line, the business unit which recorded the highest growth rate is BEE (beefree.io), with a 10.1M EUR ARR, up 38% over the same period of the previous year (or 27% at constant USD/EUR fx), thanks to a combined increase in both volumes and usage.

Acumbamail's performance is also very good (growing 14+%), whereas MailUp+Contactlab posts growing sales (33%, 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 2.2M EUR ARR, decreasing by 10% YoY.

Growens (GROW) is a vertically integrated player in the field of Cloud Marketing Technologies. with a combined SaaS and CPaaS offer. 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), 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 ca. 26.000+ customers in 100+ countries.

The company is admitted to trading on the Euronext Growth Milan (EGM) market managed by the Italian Stock Exchange, with a free float of ca. 35%.

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

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

For further information please contact: 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

Eleonora Meneghelli +39 331 6780063 Michela Piccini +39 338 7366349 Alberto Colombini +39 335 1222631 growens@icorporate.it

Arrowhead Business and Investment Decisions. LLC

Thomas Renaud +1 212 619 6889 enquire@arrowheadbid.com arrowheadbid.com