VOGO — Earnings Release 2021

Feb 9, 2022

Montpellier, 9 February 2022

2021: a successful year

Revenue up +53% to €8.5m Confirmation of the momentum in sports: +96% Sharp acceleration in the US: +164%

VOGO (ISIN: FR0011532225 – Mnemonic: ALVGO) published its revenue for the 2021 fiscal year today.

As expected, the solid sales momentum initiated in the second half of the 2020 fiscal year has been confirmed over the whole of 2021. This performance is all the more satisfying given that it was achieved in a still uncertain health context.

Innovation, growth, international influence, leadership in technological solutions for professionals and fans, and the conquest of new markets: decisive progress has been made in all of these areas, enabling VOGO to open up a new development cycle from 2022.

In €m	2021	2020	Chg. %	2021 pro forma	Pro forma change %
Total revenue	8.5	5.6	+53%	9.2	+65%
o/w Sports revenue	6.4	3.3	+96%	7.0	+117%
o/w Industry revenue	2.1	2.1	+3%	2.1	=

o/w EMEA revenue	7.0	5.0	+41%	7.7	+55%
o/w US revenue	1.2	0.5	+164%	1.2	+164%
Other	0.3	0.1	+123%	0.3	+123%

For the whole 2021 fiscal year, revenue was €8.5m, up 53% compared to the same period in 2020.

Crescent Comms, an international leader in the provision of services and integration of solutions for professional sports acquired in September 2021 and now known as VOGO UK, contributed nearly €132K to consolidated revenue (integrated over three months).

On a like-for-like basis, growth for the year was 51%.

On a pro forma basis, by integrating Crescent Comms over 12 months, the 2021 revenue is €9.2m, up 65%.

Montpellier, 9 February 2022

Sports:

Revenue increase of 96%, driven by solutions for professionals Fan solutions in place to support the recovery

In the sports market, business grew by 96%, with revenue of €6.4m (75% of total business for the year) compared to €3.3m in 2020.

As expected, the momentum of the fiscal year was driven by the commercial successes of the VOKKERO (audio communication solutions for refereeing, health monitoring, coaching, etc.) and VOGO-SPORT (Live & Replay video solution) professional ranges. For both brands, the acceleration in order intake was on target, resulting in a solid performance for the year. This growth also illustrates the success of the combination of integrated audio and video solutions.

In fan solutions, the recovery in sales momentum was logically more gradual in a still uncertain health context. The return to a normal situation, which is now in sight, will be a new growth engine driven by the disruptive innovations currently in place and the global roll-out of 5G.

The year was also marked by the successful launch of VOGOSCOPE, the first "turnkey" multi-camera recording and Live & Replay video broadcasting kit for amateur sports, training centres and communities. This solution, co-developed by VOGO and ABEO, has significant international growth potential, targeting sports coaches and technical staff (improving the sports performance of athletes) and enabling the public to follow competitions that are not filmed or televised. After the first major commercial successes in 2021 (CREPS, Federations, etc.), an increase in order intake is expected in the new fiscal year.

Industry: a still solid level of activity

In industry, VOGO generated revenue of more than €2m over the year, stable compared to 2020. This business activity contributed 25% of total revenue. After a 2020 marked by the growing presence of the distribution network and the execution of large orders, this development constitutes a good performance, demonstrating the strength of a market that still has a high demand for audio communication solutions in restricted environments.

Major references signed during the year include: Amazon, Eiffage Rail, etc.

Sustained growth in EMEA (+41%) Sharp acceleration in the US (+164%)

Over the year, all geographical regions benefited from the accelerated sales momentum. In the EMEA region (including France), revenue totalled €7m (83% of total business activity), for an increase of 41%.

In the US, the world's largest sports market, the improvement in health conditions led to a sharp acceleration in business activity. In this region, VOGO posted solid growth with revenue of over €1.2m, up 164%. 2021 was marked by significant new references: MLS, Pac12, SEC, and other major conferences.

In other regions (South America and Asia Pacific), performance was also satisfactory with revenue of €0.3m, up 123%.

In terms of marketing channels, all sales channels contributed to the year's momentum. Direct sales totalled more than €4.6m in revenue, up 71%. The increase in the contribution of direct sales to total business activity benefited from the growth in sales in the Sports markets and the integration over three months of Crescent Comms, now VOGO UK.

Sales partner business was also strong, with revenue of over €3.9m, up 37% (46% of total business activity over the year).

Montpellier, 9 February 2022

Outlook: All indicators in the green to succeed in 2022 Towards a new growth cycle

VOGO is approaching the new fiscal year 2022 with confidence in a context where the easing of the components supply and the improvement in the health situation should be confirmed.

This confidence was bolstered by a very good start to the fiscal year, both in terms of order intake and advanced discussions for future deployments.

Continued innovation efforts to widen the technological gap

In terms of innovation, the Group has decided to step up its efforts in audio and video, 5G networks and artificial intelligence. This commitment should enable the Group to widen the technological gap that is now recognised in all the markets it targets, and in particular in the world of sport, where the Group now occupies an established position as one of the world's leading players in the market.

A consortium to meet the global challenge of preventing and detecting concussions in sport

Innovation will also be on the agenda through the rise of the multidisciplinary consortium announced in January and dedicated to the development of innovative solutions for the prevention and detection of concussions in the sports. As the leader of this consortium, VOGO's ambition is to create a French network of excellence bringing together players with complementary sporting, academic, medical, industrial and technological expertise (SkillCell, Move in Med, Institut de Biomécanique Humaine Georges Charpak, CNRS, APHP, etc.) to respond to a global public health issue for sportsmen and women throughout the world, whether amateurs or professionals. Several leading sports clubs and federations are already associated with this initiative (Catalan Dragons Rugby League Club, French Football Federation, French Judo Federation, Ile de France Regional Rugby League, French Rugby Federation, etc.). VOGO has thus taken a new step in its ambition to deploy innovations at the crossroads of sport and health, for the benefit of sportsmen and women worldwide.

Acquisition of Crescent: strengthened position in the world of professional sports and extension of international influence

2022 will also benefit from the full-year integration of Crescent Comms (now VOGO UK) and its positive contribution to the Group's performance, both in terms of activity and results. VOGO UK is now a strong driver for the development of VOGO's audio and video activities, both in the UK and in many English-speaking countries (excluding the US), where its positions are already established in the sports world.

Upcoming global sporting events, full of opportunities

After a successful 2021, VOGO is now embarking on a new development cycle, as major sporting events, sources of new opportunities, are already scheduled: Football World Cup in 2022 (Qatar), Rugby World Cup in 2023 (France), Olympic Games in 2024 (Paris) and Rugby League World Cup in 2025 (France). These events, the majority of which will take place in France, will put Sport and Sportechs in the international spotlight for the next 4 years. VOGO intends to play a major role in this context.

About VOGO :

In the Sports sector, VOGO is a leading international player with its audiovisual solutions for fans and professionals alike, through its two flagship brands: VOGOSPORT and VOKKERO. For professionals, VOGO offers analysis and decision-making tools (referee assistance, medical diagnostics, coaching). VOGO's disruptive solution for fans transforms the stadium experience by providing multi-camera content on demand for tablets and smartphones, no matter how many people are connected. VOGO also operates in the Industry and Healthcare sectors. All of the Group's technologies are patent-protected. VOGO operates in France (Montpellier, Paris and Grenoble) and in North America, with an office in New York. It operates indirectly in other countries through its network of 35 distributors. The Group has been listed on the Euronext Growth Paris stock market since November 2018 (ISIN code: FR0011532225 – ALVGO). It also joined the European Tech40 in 2020.

For more information: www.vogo-group.com

Montpellier, 9 February 2022

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Contacts

VOGO Christelle Albinet Tel: +33(4) 67 50 03 98 Email:c.albinet@vogo.fr

ACTIFIN – Press Relations Jennifer Jullia Tel: +33(1) 56 88 11 19 Email:jjullia@actifin.fr

ACTIFIN - Financial Communications Stéphane Ruiz Tel: +33(1) 56 88 11 11 Email:sruiz@actifin.fr