Informazione Regolamentata n. 20149-3-2023		Data/Ora Ricezione 31 Marzo 2023 07:25:55	Euronext Growth Milan
Societa'	:	NEOSPERIENCE
Identificativo Informazione Regolamentata	:	174457
Nome utilizzatore	:	NEOSPERIENCEN01 - Scaravelli
Tipologia	:	1.1
Data/Ora Ricezione	:	31 Marzo 2023 07:25:55
Data/Ora Inizio Diffusione presunta	:	31 Marzo 2023 07:25:56
Oggetto	:	2022	Press Release NSP BoD Financial figures
Testo del comunicato

Vedi allegato.

PRESS RELEASE

THE BOARD OF DIRECTORS OF NEOSPERIENCE APPROVES THE CONSOLIDATED FINANCIAL STATEMENTS AS OF 31/12/2022

DOUBLE-DIGIT GROWTH OF CONSOLIDATED REVENUES, EBITDA, EBIT AND NET PROFIT ALL IMPROVED

CONSOLIDATED REVENUES OF EURO 21.0 MILLION, INCREASE OF 15.8% COMPARED TO THE PREVIOUS YEAR

COMPOUND ANNUAL GROWTH RATE OF CONSOLIDATED REVENUES EQUAL TO 32% IN 2017/2022

Main consolidated results as at 31 December 2022:

Revenues of Euro 21.0 million compared to Euro 18.2 million in 2021 (+15.8%)
EBITDA of Euro 6.4 million (31% of turnover) compared to Euro 5.9 million in 2021 (+8%)
EBIT of Euro 1.50 million compared to Euro 1.48 million in 2021 (+2%)
Group net profit of Euro 675 thousand, compared to Euro 597 thousand in 2021 (+13%)
Shareholders' equity of Euro 32.5 million, compared to Euro 23.3 million at the end of 2021 (+39%)
Net financial position equal to Euro 11.6 million, compared to Euro 8.8 million in June 2022
Strong focus for the rationalization of the group following the 11 strategic acquisitions completed over the last 4 years; after the incorporation of 5 subsidiaries in the parent company completed in 2022, significant savings in G&A costs and a relevant streamlining in operating procedures are expected in the coming years
The 2023/25 strategic plan that defines the Neosperience development guidelines in the coming years is being completed and will be soon communicated to the market
The BoD decided to convene the Shareholders' Meeting in ordinary session

Milan, 30 March 2023 – The Board of Directors of Neosperience S.p.A. ("Neosperience" or the "Company"), an innovative SME and reference player in Artificial Intelligence, listed on Euronext Growth Milan from 20 February 2019, has approved the draft financial statements and the consolidated annual results as of 31 December 2022.

Dario Melpignano, President of Neosperience, commented: "We are pleased with the results achieved, that testify to the correctness of our strategic development path and the commitment of our entire team. Also due to the recent evolution of Large Language Models, in particular GPT-4, which we have already adopted to enhance the Neosperience Cloud application platform, we will continue to invest in innovation and development to consolidate our leadership position in the artificial intelligence sector.

Year 2022 saw an expansion of the company's customer portfolio, and an enhanced penetration in the health, tourism, legaltech, security & safety sectors. We increased both turnover (+16%) and net profitability, with an EBITDA margin of 31% and a Net Profit of 7% of turnover.

We achieved an excellent result in terms of revenues and profitability despite having made investments to a greater extent than in previous years. The goal was to accelerate the development of our platform's verticalizations in high-potential sectors, such as health, industry and professional services. In a year that has suffered from the uncertainties of the geopolitical framework and the financial sector, we are pleased with the results obtained that have rewarded our efforts and the investments made in favor of growth.

At the same time, we have continued to strengthen our team and entrepreneurial and technological skills and support the digital transformation of companies through our Neosperience Cloud platform, characterized by modularity and ease of adoption. The flexibility and effectiveness of our solutions have enabled customers to respond to changing market needs, generating value and improving their customer experience."

Luigi Linotto, Executive Vice President of Neosperience, expressed appreciation for the achievement of profitability at an all-time high, although with particularly significant investments: "2022 was a positive and fundamental year in which we organized the company, enhanced crossselling, invested in the creation of new vertical platforms and expanded the offer of solutions based on Neosperience Cloud. We have strengthened our collaboration with HubSpot, integrating the CRM platform with cutting-edge artificial intelligence solutions, in order to improve the customer experience of end clients and at the same time differentiate our competitive positioning from other global partners, laying the foundations for our next development initiatives abroad.

With the completion of the strategic plan 2023/2025, which will be disclosed to investors in the coming weeks, we have defined the new guidelines and investment areas to accelerate the growth we expect for the coming years, both organic and through acquisitions, aimed at consolidating the

role of Neosperience as a European reference point in the applications of Artificial Intelligence for the digital transformation of companies."

Evolution of Neosperience offering

During 2022, Neosperience solutions supported the evolution of customers' business processes with an even more open and scalable integrated architecture, based on the logic of composable software.

This approach has allowed customers to respond to the changing demands of the market efficiently, enhancing the contribution and know-how of the most experienced professionals of each company, transforming them into a real business asset.

Neosperience's competitive positioning has been even more distinguished than traditional end-toend platforms for three key elements: (1) application focus, concentrating the evolution of the platform on the application differential specific to each different industrial sectors, instead of incorporating the entire technological stack; (2) modularity, thanks to a modular software architecture, easily integrated into any business ecosystem; (3) ease of adoption, accompanying the customer in its evolutionary path, starting from the resolution of specific needs.

The platform at the heart of the company's offering - Neosperience Cloud - has been updated to include modular solutions and subsystems to assemble, customize and release enterprise-class application solutions, in an increasingly integrated and open ecosystem.

From the Neosperience Cloud platform our company has developed technological and business initiatives in the HealthTech, LegalTech, and Tourism sectors.

HealthTech

In 2022, Neosperience launched a major strategic initiative with Neosperience Health. This digital health services platform has been developed for clinical centers, pharmacy networks and associated physicians, with the aim of helping people live healthier, happier and longer. Neosperience Health combines a web software platform and an app for iOS and Android devices, using artificial intelligence to analyze biometric data and support clinicians in monitoring the health status of clients, suggesting the most appropriate exams and promoting healthy lifestyles.

Neosperience Health offers a full range of digital tools, technologies and solutions for health and care, including support for personalized medicine, empathic patient relationship, therapeutic adherence, single-patient view, teleconsultation, messaging, with a privacy-by-design approach and remote monitoring. In addition, the platform integrates with the Revoo software solution, leader in Italy in the field of personal training, offering a complete experience that extends to the world of wellness. This initiative was a great success in 2022 and laid the foundations for further development, including at international level, as early as 2023.

LegalTech

During 2022, Neosperience expanded its presence in the LegalTech sector through the Elibra strategic initiative. Aimed at professional firms, lawyers and accountants, Elibra is a new generation end-to-end management platform that digitizes the work of these professionals. The solution particularly helps law firms to empower a rapidly evolving market with AI, where content quality, all-round advice and pre-determined pricing models have become key factors. Elibra includes an allin-one ERP system, a knowledge management system based on artificial intelligence and business intelligence tools to optimize all the activities of professional firms, improving their economic performance. Launched in 2017 as an innovative startup, Elibra is currently in a strong growth phase and has already reached a turnover of about 1.5 million euros, largely recurring, with the main law firms in Italy. Further sales to key customers in Europe are underway, demonstrating the success and positive impact of this strategic initiative, which is also ready for international development.

Tourism

Neosperience has also finalized a strategic initiative in the tourism sector, giving life to Neosperience Tourism Cloud. This platform, a verticalisation of Neosperience Cloud dedicated to hospitality and culture operators, has been designed to meet the specific needs of these companies and support them in competition in a rapidly evolving market, at the centre of PNRR's attention.

Also thanks to the support of the Ministry of Economic Development, Neosperience Tourism Cloud has been developed with an investment of more than 6 million euros. The platform includes tools for generating contacts, building customer communities through a dedicated Customer Data Platform, personalizing the customer experience thanks to AI and integrating with the main distribution channels. The platform has established itself in the field of tourism solutions based on AI, with reference customers worldwide such as Borgo Egnazia, and has been chosen as a technological partner of Milan Cortina 2026. Neosperience Tourism Cloud also plans to create an innovative startup with dedicated technical-commercial structures to further expand its presence in the tourism market and consolidate Neosperience position in this sector.

Comments on the consolidated results as of 31 December 2022

At the end of fiscal year 2022, Neosperience recorded consolidated revenues of Euro 21.0 million: +15.8% compared to Euro 18.2 million as of 31 December 2021, thanks to the acquisition of new relevant customers and the growing diffusion of solutions based on the Neosperience Cloud platform.

The positive trend of revenue growth continues, with an average compound growth rate (CAGR) of more than 32% per year in the 2017/2021 period.

The Value of Production increased from Euro 20.7 million to Euro 25.2 million (+21%).

EBITDA grew by 8.1%, from €5.9 million at 31 December 2021 to €6.4 million at 31 December 2022, with an incidence of 31% on turnover.

EBIT marginally increased compared to the previous year, from Euro 1.48 million to Euro 1.50 million (+2% compared to 31 December 2021) with an incidence of 7.2% on turnover, as a result of the significant depreciation of intangible assets, a fact that distinguishes us from most companies in our sector, demonstrating the company's willingness to continue investing in proprietary application solutions.

Net profit, equal to 882 thousand euros, of which 675 thousand euros attributable to the group, recorded a significant increase compared to the previous year (+13% for both items).

Shareholders' equity amounted to Euro 32.5 million (of which Euro 4.07 million are attributable to third parties), compared to 23.3 million at 31 December 2021 (+39%).

Net financial debt increased from Euro 7.0 million at the end of 2021 to Euro 8.8 million in June 2022 to reach Euro 11.6 million in December 2022, mainly due to the significant investments made during the year.

Proposed allocation of net profit for the year

The Board of Directors decided to propose to the Shareholders' Meeting to set aside the Group net profit as a reserve and therefore not to distribute any dividend on the net result of Neosperience S.p.A.

Specifically, the financial statements of Neosperience S.p.A. show a profit for the year of Euro 1,251,850 after having set aside deferred taxes for the year of Euro 34,038. The Board of Directors intends to propose to the Shareholders' Meeting the financial statements as illustrated, without distributing dividends; therefore, the profit is returned to the legal reserve for Euro 21,752 and to the extraordinary reserve for Euro 1,230,098.

Significant events after the end of the financial year 2022

After the end of the 2022 financial year, Neosperience continued to enhance the Neosperience Cloud platform by integrating emerging technologies, including Large Language Models and, in particular, GPT-4. As early as the early months of 2023, the availability of these advanced language models led to a significant acceleration in improving Neosperience Cloud capabilities. This has allowed the company to offer more personalized, sophisticated and engaging user experiences, thanks to its ability to understand and generate predictions in a more accurate and contextualized way.

In addition, GPT-4 integration is already enabling Neosperience customers to increase operational efficiency by simplifying content creation and analysis, while already helping to optimize interactions between customers and the solutions offered.

This technological advancement has further increased the value generated for customers, reinforcing Neosperience position as a leader in AI applied to the customer experience and operational processes, confirming the company's commitment to adopting the most innovative technologies to guarantee customers extraordinary results.

In the first months of 2023, the initiatives of technological and commercial development in healthcare continued, in collaboration with important pharmaceutical companies, universities, research centers and reference realities of the hospital world. In particular, the acquisition of 100% of the company Revoo srl has been completed.

In these, as in other innovative projects under development, Neosperience employs sophisticated Machine Learning techniques that are gradually incorporated into the Neosperience Health Cloud platform. The latter, also thanks to the support of the PNRR plan, is intended to provide a key contribution to the world of public and private health, supporting remote diagnosis and AI-assisted telemedicine, as well as improving the care of chronic patients and the elderly, reducing costs for the community.

Convening of the Ordinary Shareholders' Meeting

The Board of Directors decided to convene the Ordinary Shareholders' Meeting at the registered office of the Company in Via Orzinuovi 20 in Brescia on 28 April 2023, at 17.00, on first call and on 15 May 2023, at 17.00, on second call, to discuss and resolve on the following items on the agenda:

Approval of the financial statements as of 31 December 2022 and of the consolidated financial statements as of 31 December 2022; related and consequent resolutions;
Integration and appointment of new directors.

More news

Please note that on 29 March 2023 the Specialist contract, currently in force with MiT Sim SpA, was terminated, effective from 1 July; in the coming days, a contract will be signed with another Specialist of primary standing, which will start operating from July 1, 2023.

***

Neosperience is an innovative SME listed on Euronext Growth Milan that operates as a software vendor. Recently named by Gartner as the only Italian company among the six most innovative software companies in the world, together with Adobe, Salesforce and SAS, Neosperience was founded in Brescia in 2006 by Dario Melpignano and Luigi Linotto, respectively President and Executive Vice President. The company is active in the field of Artificial Intelligence with Neosperience Cloud: a proprietary software platform based on advanced digital solutions that allows companies to offer their customers an empathetic digital experience, with which to attract new customers, increase the value of existing customers, improve revenues and margins and optimize business processes. Neosperience's client companies include leading companies in the fashion, retail, healthcare, manufacturing and financial services sectors.

www.neosperience.com

Further information:

INVESTOR RELATIONS

Neosperience S.p.A. Lorenzo Scaravelli | [email protected] | +39 335 7447604

IR Top Consulting

| [email protected] | + 39 02 4547 3883/4 |

SPECIALIST

MiT Sim S.p.A. Gianni Eusebio | [email protected] | + 39 02 305 61 276 Andrea Scarsi | [email protected] | + 39 02 305 61 276

EURONEXT GROWTH ADVISOR CFO SIM S.p.A.

| [email protected] | +39 02 303431

Group Income Statement

	Group Income Statement
	31.12.2022	31.12.2021
	Group Income	Group Income	Delta
	Statements	Statements
Sales Revenues Changes in inventories of work in progress	21.018.911 126.985	18.153.423 256.778	2.865.488 (129.793)
Work performed by entity and capitalised	3.525.177	1.903.131	1.622.046
Other income	566.730	395.266	171.464
VALUE OF PRODUCTION	25.237.803	20.708.598	4.529.205
Raw material and services used	(9.334.344)	(7.420.879)	(1.913.465)
VALUE ADDED	15.903.459	13.287.719	2.615.740
Employee benefit expense	(8.927.776)	(7.010.380)	(1.917.396)
Other expenses	(289.987)	(238.542)	(51.445)
Changes in inventories of work in progress	(256.778)	(94.093)	(162.685)
EBITDA	6.428.918	5.944.704	484.214
Depreciation and amortisation expense	(4.925.080)	(4.464.770)	(460.310)
EBIT	1.503.838	1.479.934	23.904
Finance costs	(379.415)	(379.200)	(215)
Depreciation of Investements	(963)	0	(963)
Depreciation of Financial Assets	0	0	0
PROFIT/LOSS BEFORE TAX	1.123.460	1.100.734	22.726
Income tax expense	(241.135)	(321.378)	80.243
PROFIT/LOSS FOR THE PERIOD	882.325	779.356	102.969
Profit/Loss attributable to minority interests	206.886	182.130	24.756
PROFIT/LOSS OF THE GROUP	675.439	597.226	78.213
EBITDA %	30,6%	32,7%	-2,2%
EBIT %	7,2%	8,2%	-1,0%
Profit/Loss Before Tax %	5,3%	6,1%	-0,7%
Profit/Loss For The Period %	4,2%	4,3%	-0,1%

Consolidated Balance Sheet

	Consolidated Balance Sheet
	31.12.2022		31.12.2021
	Consolidated Balance Sheet	inc. %	Consolidated Balance Sheet	inc. %	Delta
NON-CURRENT ASSETS
Fixed Intangible Assets	34.291.178	60%	21.270.681	44%	13.020.497
Fixed Tangible Assets	3.240.628	6%	3.022.309	6%	218.319
Investements in associates	955.531	2%	1.314.043	3%	(358.512)
Other non-current credits Other non-current Financial credits	266.509 145.968	0% 0%	260.284 9.028	1% 0%	6.225 136.940
Prepaid Taxes	116.198	0%	155.966	0%	(39.768)
TOTAL NON-CURRENT ASSETS	39.016.012	68%	26.032.311	54%	12.983.701
CURRENT ASSETS
Inventories	126.985	0%	256.778	1%	(129.793)
Trade recivables Trade recivables from associates	10.173.770 40.810	18% 0%	8.102.340 3.375.515	17% 7%	2.071.430 (3.334.705)
Tax credits	2.082.897	4%	590.064	1%	1.492.833
Other current credits	1.533.637	3%	965.034	2%	568.603
Trading assets	836.669	1%	152.450	0%	684.219
Cash and Equivalents	3.565.300	6%	8.461.078	18%	(4.895.778)
	TOTAL CURRENT ASSETS 18.360.068	32%	21.903.259	46%	(3.543.191)
EQUITY	TOTAL ASSETS 57.376.080	100%	47.935.570	100%	9.440.510
Shareholders Capital	959.166	2%	872.216	2%	86.950
Share Premium Reserve	23.156.447	40%	18.439.318	38%	4.717.129
Legal Reserve	170.081	0%	131.165	0%	38.916
Statutory Reserve	3.090.762	5%	2.358.859	5%	731.903
Negative reserve for treasury shares in portfolio	(41.419)	0%	(306.587)	-1%	265.168
Other Reserves Consolidation Reserve	696.892 5.865	1% 0%	552.594 (53.904)	1% 0%	144.298 59.769
Retained Earnings	(306.001)	-1%	56.813	0%	(362.814)
Net income of the year	675.439	1%	597.226	1%	78.213
Minority interests	4.072.516	7%	627.283	1%	3.445.233
	TOTAL EQUITY 32.479.748	57%	23.274.983	49%	9.204.765
NON-CURRENT LIABILITES
Employees Benefits Provisions for risks and charges	1.685.069 133.756	3% 0%	1.292.219 28.393	3% 0%	392.850 105.363
Non-current Financial Debts	11.898.489	21%	12.587.127	26%	(688.638)
Non-current Tax Payables	75.239	0%	-	0%	75.239
Other non-current Payables	-	0%	-	0%	-
TOTAL NON-CURRENT LIABILITES	13.792.553	24%	13.907.739	29%	(115.186)
CURRENT LIABILITIES Current Financial Debts	4.105.403	7%	3.004.569	6%	(21.270.681)
Deposits	-	0%	-	0%	(21.270.681)
Accounts Payables	3.351.628	6%	2.801.238	6%	(21.270.681)
Tax Payables	710.318	1%	1.319.006	3%	(21.270.681)
Other Payables	2.324.509	4%	3.107.589	6%	(21.270.681)
Accruals and Deferred Income	611.921	1%	520.446	1%	(21.270.681)
	TOTAL CURRENT LIABILITIES 11.103.779	19%	10.752.848	22%	(21.270.681)

Neosperience S.p.A. - Capitale Sociale: € 959.166,10 i.v. - Codice fiscale e Partita IVA: 02792030989 25125 Brescia, via Orzinuovi, 20 - Tel. +39 030 3537300 - Fax +39 030 3537343 20137 Milano, via Privata Decemviri, 20 - Tel. +39 02 36755690

Net Financial Position

Net Financial Position
	31.12.2022 Consolidated	30.06.2022 Consolidated	31.12.2021 Consolidated
	Balance Sheet	Balance Sheet	Balance Sheet
A. Cash at the bank	(3.565.300)	(6.496.483)	(8.461.078)
B. Cash equivalents	0
C. Other current financial assets	(836.669)	(1.154.669)	(151.669)
D. Liquid assets` (A) + (B) + (C)	(4.401.969)	(7.651.152)	(8.612.747)
E. Current financial credit	0
F. Current financial debt G. Current portion of non-current financial debt	3.062.751 0	2.931.925	2.080.874
H. Other non-current financial debt	1.042.652	853.419	923.695
I. Current financial debt (F) + (G) + (H)	4.105.403	3.785.344	3.004.569
J. Net current financial debt (I) + (E) + (D)	(296.566)	(3.865.808)	(5.608.178)
K. Non-current financial debt	8.509.138	8.821.082	8.409.567
L. Debt instruments	1.490.916	1.840.674	2.182.638
M. Trade payables and other non-current payables	1.898.435	1.995.073	1.994.922
N. Non-current financial debt (K) + (L) + (M)	11.898.489	12.656.829	12.587.127
O. Total financial debt (J) + (N)	11.601.923	8.791.021	6.978.949

A. Cash flows deriving from operating activities (indirect method)	31.12.2022	30.06.2022	31.12.2021
Profit (loss) for the year	882.325	529.112	779.356
Income taxes Interest expense/(assets)	241.135 379.415	526.923 182.491	319.768 379.200
(Dividends) Capital gains / losses on disposed assets	- -
1. ) Profit (loss) for the year before income taxes, interest, dividends and capital gains / losses on disposal	1.502.875	1.238.526	1.478.324
Adjustments for non-monetary items not included in net working capital
Provisions to funds Depreciation of fixed assets	546.506 4.921.759	196.554 2.862.598	408.940 4.420.435
Non monetary adjustments of financial assets Write-downs / (revaluations) of financial assets	135.371 -	-	23.071
Other adjustments for non-monetary items 2. Cash flow before change in net working capital	- 7.106.511	4.297.678	6.330.770
Change in net working capital
Decrease / (increase) in inventories Decrease / (increase) in receivables from customers	129.793 1.104.275	(67.821) (137.622)	(162.685) (2.990.187)
Increase / (decrease) in trade payables from suppliers Decrease / (increase) in accrued income and prepaid expenses	550.390 (225.395)	637.611 201.376	(1.157.136) 245.820
Increase / (decrease) in accrued liabilities and deferred income	91.475	231.472	130.941
Other changes in net working capital 3. Cash flow after change in net working capital	(1.354.734) 7.402.315	1.425.674 6.588.368	2.624.953 5.022.476
Other adjustments Interest received / (paid)	(379.415)	(182.491)	(379.200)
(Income taxes paid) Dividends collected	(479.652) -	(340.757)	(771.399)
(Use of funds) 4.Cash flow after other adjustments	(153.656) 6.389.592	(50.994) 6.014.126	(120.045) 3.751.832
Operating Cash flow (A)	6.389.592	6.014.126	3.751.832
B. Cash flows deriving from the investment activity
Tangible fixed assets	(771.305)	(273.246)	(2.731.955)
(Investiments) Sale price of divestments	(771.305)	(273.246)	(2.731.955)
Intangible assets	(11.389.270)	(8.765.553)	(5.821.536)
(Investiments) Sale price of divestments	(11.389.270) -	(8.765.553)	(5.821.536)
Financial assets	- 517.512	213.574	(339.958)
(Investiments) Sale price of divestments	- 517.512	213.574	(339.958)
Other financial assets	(824.529)	(818.743)	(411.757)
(Investiments) (Increase) / Decrease in other assets / liabilities	(685.000) (139.529)	(1.003.000) 184.257	(11.206) (400.551)
Acquisition of subsidiaries net of cash and cash equivalents Sale of subsidiaries net of cash and cash equivalents		-	(129.500)
Cash flows deriving from the investment activity (B)	(12.467.592)	(9.643.968)	(9.434.706)
C. Cash flows deriving from the financing activity
Third party funds Increase (decrease) in short-term bank position	1.081.448	897.473	2.030.687
New medium term financing Reimbursement of loans	2.847.029 (3.011.423)	1.847.029 (1.344.423)	2.828.629 (1.297.781)
Equity
Paid-in capital increase Sale (purchase) of own shares	- 265.168	- 265.168	4.293.328 (213.621)
Cash flows deriving from the financing activity (C)	- 1.182.222	1.665.247	7.641.242
Increase (decrease) in cash and cash equivalents (A ± B ± C)	(4.895.778)	(1.964.595)	1.958.368
Cash and cash equivalents (beginning of period)	- 8.461.078	8.461.078	6.502.710
	3.565.300	6.496.483	8.461.078
Cash and cash equivalents (end of period)	(4.895.778)	(1.964.595)	1.958.368

AI Terminal

Neosperience

4396_er_2023-03-31_3bac85af-818d-4f26-9637-9958f7e8b032.pdf