Questback Group AS — Earnings Release 2022

Jan 24, 2023

Q4 2022 TRADING UPDATE

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Note: Our Revenue KPIs are calculated using constant currency exchange rates based on the average for 2021 to exclude any effects of currency exchange rate fluctuations

Core ARR excluding revenue from reseller and brokerage agreements.

OPERATIONAL HIGHLIGHTS

	EXPANSION SALES	TOTAL NEW ARR	NET RETENTION RATE
	Q4 4.8 MNOK 6.1 MNOK		97%
2022	$+2\%$ vs Q4 2021	$+10\%$ vs Q4 2021	96% Q4 2021

YTD EXPANSION SALES	TOTAL NEW ARR	NET RETENTION RATE
	31/12/2022 16.6 MNOK 20.7 MNOK 101%
$+53\%$ Y-o-Y	$+48\%$ Y-0-Y	95% YTD Q4 2021

Note: Our Revenue KPIs are calculated using constant currency exchange rates based on the average for 2021 to exclude any effects of currency exchange rate fluctuations Core ARR excluding revenue from reseller and brokerage agreements.

NEW ARR GROWTH

Q4 2021 vs Q4 2022:

Total new ARR +10%

YTD 2021 vs YTD 2022:

Total new ARR +48%

120 000

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Note: Our Revenue KPIs are calculated using constant currency exchange rates based on the average for 2021 to exclude any effects of currency exchange rate fluctuations Core ARR excluding revenue from reseller and brokerage agreements.

CUSTOMER CASE

SOS Barnbyar

SOS Barnbyar works to improve the welfare of families. When development manager, Hannu Rusama, first joined SOS Barnbyar in 2017, his primary objective was to improve the data-based measurability of the effects of their services. Up to that point, their results were more speculation than actual data. In addition, distinct indicators of progress were needed, to be shared and distributed throughout the entire field and not just within the organization.

Data that makes the work easier

"We needed a tool that we could use to collect data rapidly and anonymously.", Hannu tells us. "The data collection should also not burden the employees with more work. We want to be able to use the data in our daily routines and as a tool for information management. Our employees felt that Questback understood and had the ability to realize their objectives in a way that other companies couldn't. This made it easy for us to choose Questback as our partner."

Questback and SOS Barnbyar

Even if SOS Barnbyar had previously collected data from client feedback, the organization didn't have the correct tools to correctly analyse it. The first step in their partnership with Questback was to figure out how to examine the different elements to measure the results and welfare of the clients. The data model that was created was based on a lot of different welfare components.

QUESTBACK KEY HIGHLIGHTS

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STRONG NORDIC POSITION WITH EUROPEAN AMBITIONS

• Leading position in the Nordics
• The strategic platform of choice for employee and customer experience data for a highly diversified customer base of c. 1.600
• · Sector agnostic and scalable software supporting growth both across industries and geographies

GROWING MARKET SUPPORTED BY STRUCTURAL TRENDS

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• Large addressable market growing at double-digit percentage rates • Business model supported by structural trends: (i) increased customer & employee expectations; (ii) remote work; and (iii) increased consumerization of software as a service.

ROBUST AND SCALABLE SAAS BUSINESS MODEL

• · Questback's platform is offered as a SaaS solution yielding high revenue visibility as well as crossand up-sell opportunities • Long contract per customer as
• each contract is typically a minimum of 12 months, with the vast majority extending beyond this period

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ATTRACTIVE FINANCIAL METRICS

• Customers pay upfront for their subscription, positive effect on our working capital
• ~96 % of revenue is recurring revenue, creating strong predictability
• The average lifetime for existing customers is +8 years