Slides
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Let’s make media better. Capital Markets Day
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Disclaimer THE INFORMATION CONTAINED IN THIS PRESENTATION IS STRICTLY CONFIDENTIAL. ACCORDINGLY, THE INFORMATION INCLUDED HEREIN MAY NOT BE REFERRED TO, QUOTED OR OTHERWISE DISCLOSED BY YOU, NEITHER DIRECTLY OR INDIRECTLY NOR WHOLLY OR PARTLY. BY REVIEWING THIS INFORMATION, YOU ARE ACKNOWLEDGING THE CONFIDENTIAL NATURE OF THIS INFORMATION AND ARE AGREEING TO ABIDE BY THE TERMS OF THIS DISCLAIMER. THIS CONFIDENTIAL INFORMATION IS BEING MADE AVAILABLE TO EACH RECIPIENT SOLELY FOR ITS INFORMATION AND IS SUBJECT TO AMENDMENT. This company presentation, which should be understood to include these slides, their contents or any part of them, any oral presentation, any question or answer session and any written or oral materials discussed or distributed during a company presentation (the "Investor "), has been prepared by Verve Group SE ("Verve" or the "Company"), to be used solely for a company presentation. Verve does not accept any responsibility whatsoever in relation to third parties. 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Verve Group Mishel Alon CBO Paul Hayton CTO Dataseat Christian Duus CFO Keynote Speaker Eric Seufert Media Strategist, Quantitative Marketer, Author Moderation Remco Westermann CEO Ingo Middelmenne IR Verve Group Speakers
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Part 1 - Business update 10:00 Welcome Ingo Middelmenne 10:20 Introduction to Verve’s Equity Story Remco Westermann, CEO Verve 10:40 Commercial Update Remco Westermann, CEO Verve 11:00 Financial Update Christian Duus, CFO Verve 11:30 Q&A Session 1 12:00 Lunch Break Part 2 – Expert sessions 12:45 Keynote: Transformative Trends in the Advertising Industry: Evolution of ID-less Advertising and Growing Impact of AI Eric Seufert, Media Strategist, Quantitative Marketer, Author 13:15 ID-less Advertising – Solving the Blind Spot Mishel Alon, CBO Verve 13:45 AI in Advertising – A Competitive Edge Paul Hayton, CTO Dataseat 14:15 Q&A Session 2 14:30 Closing Remarks Remco Westermann, CEO Verve Agenda
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Part 1 Business update
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Introduction to Verve’s equity story Remco Westermann, CEO Verve
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Emerging Channels Digital Channels Traditional Channels Mobile Advertising Connected TV Advertising Digital Out of Home Advertising Display Advertising Video Advertising Social Media Television Radio Print Media Introduction Growth Maturity Decline Digital Audio and Podcast Advertising Retail Media Advertising Content Marketing Search Engine Marketing Email Marketing Affiliate Influencer Marketing … Outdoor Advertising Direct Mail Event Marketing Product Placement … Future leaders in emerging advertising channels being decided now Consumers are leaving traditional channels and moving into emerging channels outside the walled gardens
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375 435 481 535 581 628 676 2022 2023 2024 2025 2026 2027 2028 25 30 34 39 44 48 51 2022 2023 2024 2025 2026 2027 2028 ~$ 1,100 billion Global ad spend ~$ 600 billion Global Programmatic ~$ 225 billion Mobile (In-app, open web) 6% YoY 9% YoY 12% YoY ~$ 35 billion CTV 14% YoY Our TAM (Mobile in-app + CTV) Notes: (1) Source: Statista, Forbes (2) source: eMarketer (3) source: Statista (4) source: company data in Q2 2025 MOBILE Global digital ad spend 96% Verve revenues from Mobile4 (US$, Bn) 4% Verve revenues from CTV4 (US$, Bn) CTV Global digital ad spend 11% CTV CAGR (’24-’27) 10% mobile in-app CAGR (’24-’27) 239 245 259 264 274 282 290 0 100 200 300 400 500 600 700 800 2022 2023 2024 2025 2026 2027 2028 0% Verve revenues from Desktop4 DESKTOP Global digital ad spend (US$, Bn) 3% US desktop CAGR (’24-’27) In Comparison: Verve operates in large and growing addressable markets Verve focuses on Mobile and CTV — fueled by rising ad budget allocation and growing double-digit
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9 Strong Outlook for Our Core Market1 Favorable Macroeconomic and Industry-Specific environment for further market share gains Well-positioned to capitalize on market growth, backed by strong industry recognition and a proven track record 0 50 100 150 200 250 2024 2025 2026 2027 2028 CAGR: 10.2% SSP U.S. Seller Trust Index3 Thirdpresence #1 Nimbus Advertising #2 Verve #3 Reklamup #4 Taboola #5 Premium Ads #6 Index Exchange #7 cadent.tv #8 Brave #9 IronSource #10 SSP iOS Market Share U.S.2 Verve #1 IronSource #2 Liftoff #3 Mintegral #4 Video Heroes #5 PubMatic #6 AlgoriX #7 Equativ #8 Adtelligent #9 Magnite #10 Leading U.S. Mobile Ad Supply #1 Quality and Reach US Mobile In-App Advertising Notes: (1) US in-app advertising (2) Pixalate: Mobile SSP Market Share Report Q1 2025 (3) Pixalate - Seller Trust Index Q1 2025. Verve strongly positioned to capture further growth in the US Verve leads in iOS Mobile Ad Supply and Seller Trust Index
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…many other advertisers ADVERTISER PUBLISHER / END CONSUMER Marketplace enabling buying, matching and selling of ads programmatically We automate the buying and selling of ads Vertically integrated multichannel ad-software platform
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„Sports“ „Champions League“ „England“ „Date“ „Location“ „Electronics“ „BBC“ …many other advertisers ADVERTISER $ 0.9 $ 1.0 $ 0.8 $ 0.7 $ 0.4 $ 0.6 Ad Bids Verve Demand Side (Advertiser Connection) Verve Data Platform Verve Supply Side (Publisher Connection) “Matching fully automated the right brands to the right audience in milliseconds” DooH Ad Request Data SignalsCampaign Parameters Verve’s proprietary tech utilizes AI to match ‘right ad’ with ‘right end consumer’ Verve automates and optimizes the buying and selling of ads on all digital devices PUBLISHER / END CONSUMER
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$201 $101 $201 $50 Agencies3 Demand-side- platform (“DSP”) Marketplace Supply-side- platform (“SSP”) Publishers2 ConsumerBrands Verve can act as DSP, ad-exchange and SSP – achieving up to 50% on agency ad-spend2 $100 Payment from brands to agency We actively drive the trend towards industry consolidation and platform combination Verve attractively positioned to monetize the digital advertising value chain Our full-suite Ad-Tech platform enables better outcomes for advertisers and publishers Notes: (1) take rates are typical rates in the market, they vary though per channel, market and participant, (2) Verve plays various roles in the value chain. Strongest position is Marketplace/SSP, (3) With limited visibility there are also agency take rates not taken into account to keep the overview simple and focused on Verve’s role
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ATT 132 171 LTM Jun-24 LTM Jun-25 +29% Verve iOS revenue surged2 $m Google plans to let users make and adjust an informed choice3 ~20% Share of ID-less android traffic on Verve’s ad- platform Additional upside through google policy changes expected Share of ID-less iOS traffic on Verve’s ad-platform1 Notes: (1) Share of ID-less ad traffic on Verve's ad-software platform in the period from August 2024 to January 2025 (2) Based on gross revenues from the programmatic ad exchange business, non-IFRS. Growth is driven by various ID-less targeting solutions like ATOM, Moments.AI or SKAN Optimization. (3)Tech Crunch, retrieved February 26. 2025, URL: https://techcrunch.com/2024/07/23/googles-latest-privacy-sandbox-gambit-could-pit-user-choice-against-tracking/ Verve is leading the transition into AI-driven ID-less advertising The backbone of user tracking and ad personalization (ID-based) disappears +80% Ask app not to track Verve’s ID-less Solutions
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Notes: (1) Unique end-consumers receiving advertising from Verve’s ad exchange. (2) As of Q2 2025, software clients with >$100k revenue / year. (3) Ads delivered LTM June 2025 79% 9% North America Europe Rest of World Revenue by Region Q2 2025 96% 4% Mobile CTV Other Revenue by Device Q2 2025 12% 25% 75% Business Composition Q2 2025 Demand (Advertisers) Supply (Publishers) 954 large software clients2 +2.5 Billion end consumer reach1 1 Trillion yearly ad impressions3 +65,000 mobile app integrations +200 Million CTV screens A technologically leading global ad-tech company focused on US and mobile Unparalleled capabilities in matching advertisers and publishers and reaching end-consumers worldwide
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Note: (1) Revenue adjusted for FX and divestment effects of EUR 21m 71 93 95 133 1422 2014 4 2015 7 2016 11 2017 13 2018 18 2019 29 2020 2021 2022 2023 2024 LTM Jun-25 15 22 39 42 45 84 140 252 3031 322 437 473 Revenue (€m) Adj. EBITDA (€m) Full transformation into an ad tech company Solidified position as technology platform geared for organic growth Started as a pure games company in 2012 Roll-Up Gaming; 25+ game acquisitions Strategic decision to establish a strong organic growth driver that offers synergies with the gaming segment: Digital Advertising Media revenues exceeds games revenues Evolving from publisher to scaled ad-tech software platform Transformation from a games company to a global leader in ad tech 36% growth FY 2024 30% margin FY 2024
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Commercial update Remco Westermann, CEO Verve
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Let’s make media better. Notes: (1) includes total number of demand and supply software clients Double-digit growth continues, while integration efforts set important milestones for further rapid scaling. 10% Revenue growth Q2 2025 – continued market share gains 2.5x Leverage Ratio 1% Adj. EBITDA Growth +22% Software Clients1 28% Adj. EBITDA Margin 98% Retention Rate
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Challenges & highlights of Q2 2025 01 | Liberation day impact • Soft market and consumer sentiment due to tariff uncertainties • Weakened ad-spend in Q2 • Limited impact on operations 02 | Growing customer base • 22% increase in total number of software clients (of which 10% organic) • 98% retention rate despite reduced ad spending • Solid base for growth on market recovery 06 | Capital markets focus • Uplisting general standard • Strengthened IR • Bond placement with lower coupon • Oversubscribed capital increase 04 | Integration of Jun • Team integrated and offers unified • Cost and revenue synergies well on track • Preparing rebranding Jun Group to Verve for Q3 03 | Platform unification • Not without pain in Q2 (cost & margin effect) • Majority of SSP & DSP integration done • Worth the pain; seeing positive effects now 05 | Sales team expansion • >100 new sales experts to be added, starting Q2 • Regional adaptation of sales strategy • Strong segment focus Trimming Verve for rapid scaling while having faced issues with platform unification
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90 95 100 105 Jun. 20 Dez. 20 Jun. 21 Dez. 21 Jun. 22 Dez. 22 Jun. 23 Dez. 23 Jun. 24 Dez. 24 Jun. 25 Global supply chain disruptions Energy crisis due to Ukraine war Monetary policy uncertainties Interest rate hikes & recessionary fears Consumer confidence erosion & global trade conflicts% Notes: US Bureau of Labor Statistics, Producer Price Index by Commodity: Advertising Space and Time Sales, Base June 2009 = 100 Verve’s overall performance in 2025 builds on: • Strong underlying market dynamics in programmatic advertising • Ability to continuously gain market share in all market conditions • High level of customer satisfaction & high customer retention • Technological supremacy as result of continuous evolution How geopolitical headwinds affect ad spending: liberation day effect in Q2 Periods of rapid decline followed by periods of fast recovery 2023 Peak of restrictive monetary policy 2021 End of ultra-expansionary monetary policy 2025 Structural market adjustments due to monetary policy shocks 2022 Start of interest rate hike cycles Price index for advertising space
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• Innovation on ID-less targeting solutions • New Ad-formats like full screen and video ads • New Channels like audio and podcasts New products 3 • Network effects enhance Verve’s relevance towards customers on both demand and supply • AI models continue to learn and improve matching of advertisers & end-consumers • Economies of scale lead to OPEX & infra efficiencies, further cost synergies through data sharing Platform synergies 4 Emerging channels accelerated by consumer time spent on screen 10% CAGR Mobile In-App (2024-2027) 11% CAGR CTV (2024-20271) Market growth 1 • Adding Advertisers • Adding Publishers • Adding New Verticals & Geos Growing Share of Wallet Customer expansion 2 Notes: (1) Global Mobile in-app data and CTV market data, source: Statista, eMarketer Four structural growth drivers enabling high organic growth Strong focus on every part of the business to ensure maximum scalability
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Verticalization by industry Multichannel approach Privacy-first & quality standards Offer customized solutions for specific customer industries (e.g. CPG, Medical & Health, Retail) Achieve higher industry impact & improved customer satisfaction through high expertise in industry-specific solutions Serve all relevant emerging formats and channels (e.g. In-app, Mobile Web, CTV, DOOH, Retail Media) via direct publisher integrations Match consumer privacy needs with advertiser expectations Meet highest quality standards via smart ID-less and ID-based targeting as important differentiator from competitors Achieve most efficient results for advertisers by more transparency, multi-channel reach and direct publisher access Verve’s strategic rationale – focus meets differentiation Fundamental approach of how we will continue to scale faster than the market
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Reducing the cost to reach patients and providers Through data integrations and direct inventory, we’re driving industry- leading efficiency for pharma brands. Driving incremental sales with direct-to-cart media Leader in privacy-first performance marketing Our ad formats streamline the path to purchase by enabling consumers to add products to retailer shopping carts. Our user acquisition product helps performance marketers thrive under the latest privacy standards. Medical & Health CPG Digital Brands XX%+ Insert stat here -27% Cost per patient reach1 +18.4% Incremental sales lift1 244% Return on ad spend1 Strategic roadmap – verticalization by industry Maximize Expertise and Impact in all Customer Industries to maximize Market Perception Notes: (1) Performance metrics from recent campaigns
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DOOH Upcoming State of the art out of home advertisement Ads enriched with datapoints from platform business (e.g. live weather) Audio / Podcast Upcoming Combine power of sound to in-app Sweden and Norway have largest rate of monthly listeners Retailers developing channel as important income stream 10%1 CAGR 2024 - 2027 Notes: 1) Statista 2) Statista 3) Statista 4) decenterads.com 5) eMarketer 11.4%2 CAGR 2024 - 2027 9%3 CAGR 2024 - 2027 9%4 CAGR 2022 - 2027 Very strong Access to 2 billion mobile phones 65,000 in-app integrations Premium Supply Mobile Strong Access to 200m CTV screens 60% household reach in the US Fragmentation and lack of standards still hinder stronger growth CTV Retail Media Upcoming Utilizing retailer's online & offline platforms to influence purchase behavior Focus of technological expansion Strong underlying market growth in US and Europe 17.2%5 CAGR 2024 - 2027 Strategic Roadmap – Multichannel Approach in emerging growth channels Committed to serving all relevant emerging formats and channels, focus on direct supply Market Growth:
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2021 – Apple ATT1 iOS Users can now actively decide on tracking 2023 – IAB TCF2 v2.2 New version eliminates “legitimate interest” as legal basis, making active consent mandatory 2023 – Meta Court Ruling €390 million fine for personalized advertising practices → 23% decline in EU conversion rates 2024 – CCPA & APRA3 New complex legal framework particularly affecting behavioral targeting Today – Privacy concerns 86% of consumers express privacy concerns, with 60% having abandoned services due to privacy policies Today – Tailored Ads Despite privacy concerns: 80% of consumers prefer personalized ads Tomorrow – Cookiepocalypse… …isn’t there yet, but seems like the regulatory destiny of mobile advertising Strategic roadmap – privacy first & quality standards Government regulation and concerns about the future of AI drive the user demand for privacy 1) Apple App Tracking Transparency; 2) IAB Europe Transparency & Consent Framework; 3) California Consumer Privacy Act (CCPA) & American Privacy Rights Act (APRA) 4) Smartyads.com First-mover advantage in the ID-less ecosystem While the industry is waiting for cookie alternatives, Verve has established a scalable, identifier-free solution with ATOM 3.0 Privacy Compliance as a competitive advantage With 88% of advertisers viewing privacy laws as threat to personalized targeting, Verve is perfectly positioning as a future-proof solution Advertiser Bridge ATOM 3.0 enables meaningful trait predictions for anonymous users, optimizing publisher monetization and advertiser performance AI-powered programmatic optimization Real-time campaign adjustments without personal data ID-less targeting becomes standard Android will follow iOS with similar restrictions First-party data renaissance Brands investing in zero- & first- party data collection 63% More purchase intent for privacy compliant, contextual ads4
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% Expansion in existing markets as well as expansion to new ones Strategic roadmap – investments into sales & geo expansion 2025/26 Doubling down on US 2025/26 LATAM 2025/26 Europe 2026/27 APAC USA Core market with 79% revenue share (Q2/2025) 01/2025 35 Sales Managers 12/2026e 150 Sales Managers Internationalization More efficient market penetration and better customer loyalty through localized sales approaches. 2025e UK, Scandinavia, Brazil, Mexico 2026e Scale to 3-5 new markets
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AdTech Market Customer demand Outcome Strategic roadmap – M&A as add-on to organic growth Organic growth is key. To accelerate growth selective, highly accretive M&A within leverage targets Clear focus on organic growth paired with Selective M&A Data Enrichment Channel Expansion Customer Access Regional Access Technology Enhancement Adding scale, adding tech-solutions, filling gaps, faster way to hiring… 100+ SSPs & 100+ DSPs 200+ Data Providers 4000+ Agencies • Less complexity (partners) • Maximum ability to scale • Highly specialized offerings Strong trend towards market consolidation in upcoming 24 – 36 months!
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Mishel, CBO Remco, CEO Sameer, CRO Alex, CSO David, CPO Prasanna, CTO 79% North America revenue ~350 North American employees ~380 European employees 9% Europe revenue ~120 ROW employees 12% Rest of world revenue Strategic roadmap – strengthening the core team Strong focus on every part of the business to ensure maximum scalability Christian, CFO
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Notes: (1) Revenue adjusted for FX and divestment effects of EUR 21m 71 93 95 133 1332 2014 4 2015 7 2016 11 2017 13 2018 18 2019 29 2020 2021 2022 2023 2024 2025e 15 22 39 42 45 84 140 252 3031 322 437 485-515 Revenue (€m) Adj. EBITDA (€m) Full transformation into an ad tech company Solidified position as technology platform geared for organic growth Started as a pure games company in 2012 Roll-Up Gaming; 25+ game acquisitions Strategic decision to establish a strong organic growth driver that offers synergies with the gaming segment: Digital Advertising Media revenues exceeds games revenues Evolving from publisher to scaled ad-tech software platform Transformation from a games company to a global leader in adtech 25% Mid-point growth 30% Mid- point margin
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EBITDA margin2 30 - 35% Net leverage 1.5 - 2.5x Revenue CAGR1 25 - 30% EBIT margin2 20 - 25% Notes: (1) Yearly Revenue CAGR across 3 to 5-year time horizon, (2) EBITDA and EBIT margin on adjusted basis, (3) using mid-point of perspective on basis of 2025 FY guidance 2028 / 2029 financials3 €1bn+ Revenues €330m+ EBITDA Disclaimer: Statements in the Investor Presentation, including those regarding the possible or assumed future or other performance of the Company or its industry or other trend projections, constitute forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors as they relate to events and depend on circumstances that will or may occur in the future, whether or not outside the control of the Company. No assurance is given that such forward-looking statements will prove to be correct. Revenue CAGR Composition 25-30% ~30% ~80% ~20% Organic Growth M&A Verve group’s mid-term growth perspective Mid-term understood as 3 to 5-year time horizon
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Financial update Christian Duus, CFO Verve
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XX%+ Insert stat here Photo: martinjoppen.de & Deutsche Börse Capital market highlights 2025 Positioned for growth - optimized capital structure, expanded investor base, enhanced market profile Uplisting to Frankfurt Regulated Market and inclusion in SDAX - May 2025 Moved from Scale to General Standard New ticker: VRV Enhances our visibility and attracts regulated investors and ETF flows Cost per patient reach Bond Refinancing - April 2025 €500m senior unsecured bonds placed at 3m EURIBOR + 4.00% Redeemed 2026 & 2027 bonds €12.5m in annual interest savings Improved financial flexibility and free cash flow Directed Capital Raise - June 2025 Oversubscribed and with strong institutional demand SEK 360M gross proceeds (€32m) Proceeds to fund growth and strengthen balance sheet
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Q2’24 Q2’25 10% net revenue growth amid challenging operational environment and ‘softish’ market backdrop: SSP revenues down 3%, DSP revenues up 82% Adjusted EBITDA grows slightly (+1%) as we invest in the future via unification of platforms and growing our staff base 97 106 Net Revenue, EURm +10% 29 29 Q2’24 Q2’25 Adj. EBITDA, EURm +1%€m 8,8 4,1 Q2’24 Q2’25 -54% DSP Segment Growth, YoY % +82% Q2’24 Q2’25 SSP -3%
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>100k $ Client Retention Rate1 98% Q2’24 96% Q3’24 97% Q4’24 94% Q1’25 98% Q2’25 Net $ Expansion Rate2 109% Q2’24 108% Q3’24 110% Q4’24 100% Q1’25 92% Q2’25 224 Q2’24 244 Q3’24 274 Q4’24 248 Q1’25 259 Q2’25 Ad Impressions (billions) Notes: (1) includes demand and supply partners > USD 100k gross revenues per year (2) Until Q4’24 based on total media business, afterwards calculated in line with organic growth methodology Number of Software Clients 851 1.076 1.140 1.152 954 2.518 2.842 2.948 3.056 3.079 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Total >100k $ Total no. of software clients up 22% despite challenging market, 10% organically Low client churn (2%) whereas large clients scale down their spend, impacting Net $ Expansion Rate +15%
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10% Revenue Growth1 28% Adj. EBITDA margin 21% Adj. EBIT margin Profit margins -4% Organic Revenue Growth adjusted for M&A and FX 5.3 €m Operating Cash Flow (before NWC changes) 9.4 €m Investing Cash Flow (excl. M&A) Positive Cashflow 1% Adj. EBITDA growth2 -2% Adj. EBIT growth2 Profit growth Revenues and Adj. EBITDA Margins and Cash Flows Notes: (1) Total revenue growth incl. Jun Group acquisition (2) EBITDA and EBIT growth includes growth from Jun Group acquisition, consolidated from August 2024 97 114 144 109 106 29 34 48 30 29 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Net revenues Adj. EBITDA Adj. EBITDA margin 28% 28%30% 30% 34% In €m Second Quarter Financial Highlights Short-term marketplace integration challenges impacted Q2 revenues. Investments in future growth are maintained
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29 71 93 95 133 142 Revenue Growth EBITDA Growth2 Long-term trajectory and LTM growing, despite lower growth in Q2 Proven ability to convert investments into sustainable revenue growth and attractive returns over time 2 2020 2021 2022 2023 2024 LTM Jun-25 Adj. EBITDA (€m) Adj. EBITDA % 140 252 303 322 437 473 0 50 100 150 200 250 300 350 400 450 500 0 50 100 150 200 2020 2021 2022 2023 2024 LTM Jun-25 21% 28% 29% 30% 30%30% Net Revenue (€m) 1 +32% CAGR +45% CAGR In €m In €m Notes: (1) 2022 revenue normalized by €21m for FX effects and divestments, (2) EBITDA adjusted for one-time, M&A and financing costs
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41 19 28 34 35 244 148 119 120 Operating cash flow development1,2 Capex development Notes: (1) Operating cash flow defined as in the annual IFRS financial statements, (2) Free cash flow defined as: Operating cash flow, less interest expenses, less maintenance capex, (3) Starting 2021A only includes Cash Interest Payments, (4) Maintenance Capex not an IFRS definition, with maintenance capex the lifetime of assets is significantly extended, (5) Expansion capex primarily includes investments in the advertising software platform, IP-rights and further investments in the Group’s infrastructure Continued investments in technology differentiation and organic growth Lower Q2 FCF generation mainly due to short-term marketplace integration challenges impacting on revenue income 102 In €m 4 Normalization working capital Operating Cash Flow Free Cash Flow after Interest Expenses Cash Interest Expenses 65 39 79 102 69 23 137 83 115 64 15 23 39 45 43 55 134 10 2021 9 2022 8 2023 9 2024 296 177 36 162 LTM Jun-25 8 162 Maintenance Capex4 Expansion Capex5 Acquisition Capex 20213 2022 2023 2024 LTM Jun-25 Bond refinancing reducing LTM cash interest expenses amount Outlook closer to €40 than 45m in annual capex In €m One-off cash expenses in Q1 and Q2
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Net Leverage Ratio Interest Coverage Ratio Notes: (1) Adjusted EBITDA includes pro-forma LTM EBITDA for Jun Group Deleveraging continued focus point for 2025 Ratios largely maintained into Q2: Net Leverage Ratio slightly up due lower CF generation for the Q and one-offs 274 295 351 376 368 2022 2023 2024 LTM Mar-25 LTM Jun-25 2.9x 3.1x 2.4x 2.5x 2.5x 2022 2023 2024 LTM Mar-25 LTM Jun-25 4.7x 4.0x 2.5x 3.3x 3.4x In €m In €m Net leverage Ratio Net Interest Bearing Debt Interest Coverage Ratio Adj. EBITDA 93 95 147 1511 1451 4.0x 2.5x 3.3x 3.3x 3.4x
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EBITDA mid-point (Guidance 28/5) 19 Trading impact of unification project 9 Translation effect USD/EUR 4 Cost impact of unification project EBITDA mid-point (Guidance 15/8) 165 132 Changes between initial FY 2025 guidance and our revised guidance EBITDA, EURm Two factors: Platform unification challenges accounting for 2/3s, and USD/EUR FX impact accounting for 1/3 Notes: Figures are estimated
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New 2025 full-year guidance due to unification challenges and currency effects Net revenue guidance narrowed and revised down with 10%, and Adjusted EBITDA with 20% 2024 Actuals 2025 Guidance May 28th 2025 Revised Guidance August 14th Net Revenue (in €m) 437 530 – 565 485 – 515 Adj. EBITDA (in €m) 133 155 – 175 125 – 140 Revised FY 2025 guidance provided on a constant currency basis as of August 13th 2025, i.e. assuming a USD/EUR FX rate of 0.855 rest of year Disclaimer: Statements in the Investor Presentation, including those regarding the possible or assumed future or other perfor mance of the Company or its industry or other trend projections, constitute forward-looking statements. By their nature, forward -looking statements involve known and unknown risks, uncertainties, assumpti ons and other factors as they relate to events and depend on circumstances that will or may occur in the future, whether or not outside the control of the Company. No assurance is given that such forward-looking statements will prove to be correct.
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Q&A Session 1
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Part 1 - Business update 10:00 Welcome Ingo Middelmenne 10:20 Introduction to Verve’s Equity Story Remco Westermann, CEO Verve 10:40 Commercial Update Remco Westermann, CEO Verve 11:00 Financial Update Christian Duus, CFO Verve 11:30 Q&A Session 1 12:00 Lunch Break Part 2 – Expert sessions 12:45 Keynote: Transformative Trends in the Advertising Industry: Evolution of ID-less Advertising and Growing Impact of AI Eric Seufert, Media Strategist, Quantitative Marketer, Author 13:15 ID-less Advertising – Solving the Blind Spot Mishel Alon, CBO Verve 13:45 AI in Advertising – A Competitive Edge Paul Hayton, CTO Dataseat 14:15 Q&A Session 2 14:30 Closing Remarks Remco Westermann, CEO Verve Agenda
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Lunch break Next presentation starts at 12:45 CEST
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Part 2 Expert sessions
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Keynote Transformative trends in the advertising industry Eric Seufert, Heracles Capital
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COMMERCE AT THE LIMIT Subtitle text here MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT FRONTIER APPLICATIONS OF AI IN DIGITAL ADVERTISING
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AGENDA WHAT’S AT STAKE MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT WHERE WE ARE WHERE WE’RE GOING
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ABOUT ME MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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PREVIOUSLY MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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WHAT’S AT STAKE MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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2. TITLE HERE LOREM IPSUM Lorem ipsum dolor sit amet, consectetur adipiscing elit MARK ZUCKERBERG, STRATECHERY INTERVIEW (MAY 2025)
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DIGITAL ADVERTISING IS MASSIVE - Dentsu expects the digital advertising market to reach $678.7BN in 2025, for 68.4% of total ad spend - Digital ad spend will grow by 7.9%, faster than the broader advertising spend growth rate of 4.9% - A meaningful proportion of this growth will be delivered by channels that don’t adhere to traditional measurement methodologies https://www.dentsu.com/news-releases/ad-spend-forecast-to-grow-by-four-point-nine-percent-in-2025-despite-a-reduced-economic-outlook
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MEASUREMENT HAS BECOME MORE CHALLENGING AS THE ECOSYSTEM GROWS MORE COMPLEX PLATFORM POLICY RESTRICTIONS “EVERYTHING IS AN AD NETWORK” Increasing platform restrictions on identity and data sharing (eg., ATT) Growth in retail media and CTV has increased the scope of channels used, muddying attribution END-TO-END AUTOMATION The largest platforms have implemented total end-to- end automation tools that obfuscate targeting and attribution
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ULTIMATELY, AI WILL TOUCH ALL ASPECTS OF ADVERTISING VALUE CHAIN CREATIVE PRODUCTION CAMPAIGN OPTIMIZATION PRODUCT PERSONALIZATION AND MONETIZATION MEASUREMENT AND ATTRIBUTION
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1. CUSTOMER ACQUISITION 2. CUSTOMER ONBOARDING Where, how, and with what messaging customers are reached The process that guides the customer through their first interaction with a product 3. CUSTOMER ACTIVATION 4. CUSTOMER RETENTION AND MERCHANDISING The specific moments that are chosen to surface monetization opportunities to customers The content and opportunities that are exposed to the user that keep them engaged with the product AI WILL INFLUENCE THE TOTALITY OF THE CUSTOMER RELATIONSHIP MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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WHO CAN WIN? - The largest platforms have natural data and R&D advantages in developing and deploying AI tools - But they face concrete limitations: - Inventory: advertisers want to reach audiences on CTV, retail media, and elsewhere - Diversification: while SMBs in certain categories are not sensitive to concentration, many larger advertisers are - On-site use cases: the influence of large platforms doesn’t extend into the product experience
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WHERE WE ARE MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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HOW IS AI BEING USED? 2. CAMPAIGN OPTIMIZATION 1. CREATIVE PRODUCTION Tools like Advantage+ (Meta), Performance Max (Google), Smart+ (TikTok), and Performance+ (Amazon) allow advertisers to optimize campaigns automatically Meta announced in its Q2 earnings results that 2MM advertisers use its GenAI tools for creative production Two use cases are mostly trapped inside the walled gardens currently
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BUT THERE ARE OBVIOUS OPPORTUNITIES FOR OTHER CHANNELS TO EMBRACE AI THAT REMAIN UP FOR GRABS TARGETING MEASUREMENT Targeting consumers outside of the walled gardens Advertisers want unbiased measurement that accommodates their entire channel portfolios CREATIVE Creative production is mostly viewed as a cost-reduction exercise currently, but other use cases can be tailored to channel- specific contexts, eg., creative concepting
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None of this is superficial and none of this is temporary: • Direct response marketing teams are embracing the overhaul of the media buying process with open arms • While this starts at the top of the funnel, it will only be enhanced by bottom-of-the-funnel improvements: • Better personalization to improve monetization • Better signal construction to improve optimization and targeting • Ultimately, every ad channel can benefit from these capabilities – and advertisers will expect every channel to offer them.
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AI-ENABLED ADVERTISING IS ALREADY DELIVERING CONSIDERABLE COMMERCIAL VALUE MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT Meta Q2 Earnings: “On advertising, the strong performance this quarter is largely thanks to AI unlocking greater efficiency and gains across our ads system. This quarter, we expanded our new AI-powered recommendation model for ads to new surfaces and improved its performance by using more signals and a longer context. It’s driven roughly 5% more ad conversions on Instagram and 3% on Facebook.”
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WHERE WE’RE GOING MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT
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AI WILL ULTIMATELY DELIVER “COMMERCE AT THE LIMIT” MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT MDM Podcast, Season 5, Episode 27 “I’d characterize this model as Commerce at the Limit: the fulfillment of complete optimization across every component of the digital advertising process such that commercial performance attains its theoretical maximum. ”
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COMMERCE AT THE LIMIT: EVERY LINK IN THE VALUE CHAIN OPERATES AT MAXIMUM POSSIBLE EFFICIENCY CREATIVE PRODUCTION CAMPAIGN OPTIMIZATION PRODUCT PERSONALIZATION AND MONETIZATION MEASUREMENT AND ATTRIBUTION
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WHAT ARE THE DOWNSTREAM CONSEQUENCES OF COMMERCE AT THE LIMIT? INCREASED PARTICIPATION PRICE INFLATION Commerce at the Limit will expand the advertising economy to every business that can possibly benefit from it As all ads perform at their maximum potential, and all advertisers compete on equal footing, bids become the auction focus. PERSONALIZATION AS IMPERATIVE With advertising mostly automated, advertisers will shift development and analytics resources to in-product personalization. These improvements will surface better quality signals that can be passed to their channel partners for optimization.
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THANK YOU MOBILEDEVMEMO.COMERIC BENJAMIN SEUFERT @eric_seufert
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ID-Less Advertising - Solving the Blind Spot Mishel Alon, CBO
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Two demand businesses unified by Verve, founded on a privacy-centric thesis ≈ Verve For Advertisers Founded on the premise that consumer choice is the future of privacy-first advertising for brand media campaigns Verve Dataseat Founded on the premise that ID-less advertising is the future of privacy-first advertising for performance media campaigns
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2021 Today Evolving GDPR, U.S. state privacy laws, and Google policy changes continue to reshape addressability Privacy standards and regulations continue to evolve, positioning both businesses as pioneering solutions for tier 1 advertisers globally. That vision is now a reality Apple kills the IDFA with App Tracking Transparency (ATT)
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How does traditional ID-based targeting differ from our ID-less approach?
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Data is collected passively with inconsistent consent management processes User-level targeting profiles, often challenged by evolving privacy regulations Key factor in Apple removing the IDFA and Google's attempt to deprecate cookies ID-based behavioral targeting Alex, 30 Traveler TV show enthusiast Single New York, NY
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ID-less contextual targeting Female Creative Gen Z Casual gamer Age: 18–28 Eco-conscious Publisher whitelist is curated based on the advertiser’s audience and demographic Users are anonymized, instead observing when, where, and how they interact with content Increased engagement and conversion by aligning ads with a user’s activity
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Verve Dataseat has developed a world-class IP in contextual targeting and AI-powered optimization. The new era of attribution Apple’s SKAN and Google’s AAK replace MMPs by managing attribution directly. MMPs “cheat” the system with a process called “finger printing.” Replaces mobile measurement partners Stops ad tech giants from profiling SKAN/AAK prioritize privacy, using random delays and limited signals to prevent user profiling, while benefiting Apple/Google by giving them control over data. Extremely complex for most marketers Despite high adoption by app developers, SKAN/AAK is challenging for brands to navigate, which creates opportunity for Verve Dataseat.
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We’ve entered the true year of mobile With audiences moving from the web to LLMs, mobile plays a key role in reaching individuals. Personalized Always-on Real-time signals Mobile
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Those prioritizing compliance with Apple SKAN/AdKit today Privacy-focused advertisers Most are using MMPs fingerprinting solution which Apple prohibits; however enforcement has not yet occurred. The rest of the industry When it does, we’re positioned to capture immense market share. Apple’s fingerprinting ban is a 10x opportunity iOS holds 50% of the US market (vs. 32% in Europe) and captures high-value audiences advertisers want.
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Powering the world’s top advertisers The largest brands rely on our ID-less solutions to achieve a wide range of goals. Outcome-based objectives • Impressions/reach • View-throughs • Completion rates • CTR/VCR • Installs • Subscriptions/registrations • Sales/placed orders • Re-engagement/repeat orders
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2.44x Return on ad spend “For our first SKAN campaign built around ROAS, it was important to partner with a team that truly understands how to drive performance without device IDs. Verve Dataseat helped us take control of our conversion schema, optimize transparently, and deliver measurable results at scale. ” - Marian Bucher, Senior Expert App Growth Otto unlocks 244% ROAS on iOS with Verve Dataseat’s contextual SKAN strategy >90% Visibility into post-view events Germany’s third-largest e-commerce retailer, after Amazon and eBay
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Consent-based targeting Consumers opt-in to share their interests, ensuring data is collected with explicit consent Functions without the use of third-party identifiers or cross-app tracking Builds trust with consumers because they control the information they share with brands Are you shopping for new running sneakers? Yes No Skip
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3.59x Return on ad spend Verve For Advertisers leveraged consent-based, zero-party data to reach the brand’s audience of pet owners, delivering high-impact video and rich media ads to drive incremental purchases of their Greenies products. Mars drives 12.6% sales lift with Verve For Advertisers’ consent-based strategy $771K Incremental sales
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Brand Logo Install Now 25% Off Buy Now Advertiser Publisher As user IDs disappear and attribution weakens -> supply-side intelligence becomes the new frontier ID-less for the supply side The balance of intelligence is shifting
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Less signals for the demand side Creates opportunity for the supply side The Challenge: Without IDs, advertisers cannot identify users or their behavior, nor measure campaign ROI Advertisers The Opportunity: Apps, though, have rich context on users and their app/ad engagement, even in the absence of IDs Publishers Installed Brand Logo Install Now 25% Off Install Now 30% decrease in eCPM *compared to ad impressions with IDs associated However with broken campaign measurement and limited access to ID-less supply-side signals, eCPMs have plummeted
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On-device models power user prediction 1.7bn Daily auctions on iOS200 ATOM On-Device Cohorts: Standard & BespokeAdvertisers Device Context App Context App Engagement Ad Engagement User Gestures TV Binge Watchers Deal Seekers Double Device Gamers Late Nighters Reel Watchers Weekend Diners Food Scrollers City Hoppers Device Context App Context App Engagement Ad Engagement User Gestures TV Binge Watchers Deal Seekers Double Device Gamers Late Nighters Reel Watchers Weekend Diners Food Scrollers City Hoppers Device Context App Context App Engagement Ad Engagement User Gestures TV Binge Watchers Deal Seekers Double Device Gamers Late Nighters Reel Watchers Weekend Diners Food Scrollers City Hoppers …and growing
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AI-Powered Advertising Platform AI Solutions Custom goal-based cohorts on user prompt in real time Audience Discovery Auto decisioning on creative, placement, and bids based to improve outcomesDecisioning Auto optimization across channels, devices, and inventory sourcesOptimization Always-on learning systems that improve continuously without human interventionInsights Preparing for the future, accelerating growth Unifying data and intelligence maximizes performance and drives higher advertiser spend. Dataseat Contextual Bidding Intelligence Verve SDK & Marketplace Signals ATOM On-Device Cohorts Data Marketplace Signals from Experian etc. AI Framework
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For Advertisers For Publishers For Industry Delivering outcome-based campaigns that are fully measurable and transparent. Ensuring 100% monetization and addressability, even without identifiers. AI-powered platform with agents and humans collaborating, always respecting data privacy. Verve is uniquely positioned to bring change in an AI-powered world
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AI in Advertising – A Competitive Edge Paul Hayton, CTO Dataseat
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The AI Evolution A Brief History of AI - From Traditional to Generative AI In the past years AI is transforming into more generative, agentic AI, going from data driven task- specific → into more autonomous and goal oriented. Can make decisions, while traditional AI operates within a set framework Can utilize external tools, while traditional AI is more reactive in nature Agentic AI Task-specific Goal oriented Traditional AI Generative AI
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wearing a jacket inside out Typical AI Pitfalls AI is not perfect, and is still making fundamental mistakes. It cannot go beyond it’s training data. tying shoelaces while holding a coffee cup writing with the left hand
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Ad-Targeting The Need for Data Matching Advertiser & Consumer Platform KPI optimization Efficiency An Intelligent UI Improving Team Efficiency Strategic Google Cooperation Differentiation ATOM, On-Device Targeting Dataseat Helix AI at Verve: An Overview AI is strategically important for Verve: Targeting, efficiency and differentiation
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The need for data AI at Verve Ad-Targeting 1 2 3 Matching advertiser & consumer Platform KPI Optimization
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Exchange data Amount of bids/second, amount of ad requests/day Data Based Targeting Optimization SDKs data Gender, Age and other SDK signals ID-graph data Geo and Ips External data Credit Card information AI optimization Place The right ad served to the right target group
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Getting more granular 1 Leveraging more complex models, eventually DNN2 3 Near-real time in course correction and feedback Impact For Verve Utilisation of ML models across our marketplace for margin optimization. ML is in place at all levels. Next steps Optimization of the ML Models Cost savings for Verve and our partners through AI leveraged adaptive demand shaping Verve Performance+ DSP requests sent: 30T Avails: 1251T requests Inefficient avails blocked: 1222T (97.5%) Verve Brand+ DSP requests sent: 18T requests Avails: 1000T requests Inefficient avails blocked: 997T (98.2%)
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Improving Team Efficiency AI at Verve Efficiency 1 2 3 An Intelligent UI Strategic Google Cooperation
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Improving team efficiency Gen-AI/LLMs: Org wide AI strategy across teams to reach for higher efficiencies. Github copilot under evaluation for coding efficiency CodeRabbit AI under evaluation for code reviews Gemini has been added to the whole org as part of the Google Partnership Actively used within the product team Recent org-wide activations for efficiency Have a centralized overview of activated tools, validation, and guidance for best practices Have a proper rollout of all agreed tools (Q3) Compliance with our AI policies Next steps
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An Intelligent UI: Verve’s Next-Gen deal portal Media plan
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An Intelligent UI: Verve’s Next-Gen deal portal Our next-gen deal portal prioritizes agentic AI-first interactions for deal setup and curation. It evolves beyond chatbots to intelligent, proactive assistance. Agentic UI
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Deal portal demo
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Upgrade to a modern MLOps stack utilizing managed services in GCP to reduce the complexity in dev and improve model -to- production time . Google Cloud partnership Accelerated learning assisted by Google began in Q2 2025 with the following three goals: • Takes full advantage of VertexAI in GCP • Provides a state-of-the-art notebook environment for ad hoc exploration and experiments • Integrates comprehensive model tracking for understanding model performance in both offline and online environments Our solution: a modern MLOps stack Explore the Reinforcement Learning architecture to closely follow the supply/demand shift in marketplaces. • Takes full advantage of VertexAI in GCP • Provides a state-of-the-art notebook environment for ad hoc exploration and experiments • Integrates comprehensive model tracking for understanding model performance in both offline and online environments Our solution: real-time inference architecture 1 2
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Develop the Deep Neural Network based model to supercharge our vast dataset to achieve higher revenue or margin. Google Cloud partnership Accelerated learning assisted by Google began in Q2 2025 with the following three goals: • Requires very specialized knowledge. • Very limited amount of people who can do this. • Will be challenging getting this to work at adtech scale. • Cost and revenue impact unknown. Challenges: 3
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ATOMAI at Verve Differentiation 1 2 3 Dataseat Helix
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Privacy vs. AI There is an inherent opposition of privacy vs. AI. To get sufficient data for building an AI model, consent may be overlooked. Privacy protects user’s data Requires large amounts of data to learn from - the richer the data the better. AI Uses all sorts of data Data about a user should not be gathered without consent. AI data usage is unpredictable.
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Device content App content App engagement User attention Ad engagement 100+ Signals A TOM Bid-stream enriched ATOM AI Powered by ATOM On-Device Intelligence 200 Available cohorts On-device AI powered cohorts Age 24-30 At home Female High attention Dating Video gaming At work High income Verve ATOM - AI powered audiences ATOM's on-device AI models process user data and real-world context, classifying it into cohorts and ensuring all data remains on the device.
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Verve ATOM: Demographic predictions using on-device screen gestures ATOM uses users' gestures to anonymously predict their age and gender. Its patented technology enables privacy-safe targeting of iOS users. DSPs User’s interaction with the device screen provides data for ATOM to predict age and gender of the user. Pinch Tap Zoom - – - - – - - – - - – - { "id":200012, "name":"Age 18-24" } Ad request opportunity Patented * *ATOM – Patent No. US 12105846 “Privacy supporting messaging systems and methods” (Verve Group, Inc.), Filing date: 21.09.2021 ; Reference: https://patents.justia.com/patent/12105846
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Verve ATOM: Scale and growth of ATOM Android ATOM For Android Released and Scaling Up Q2 25 1.7 B daily Ad requests 700 Apps 3.3 MM daily Ad requests 40 Apps Android HyBid 3.6.0 Went live with ATOM 3.6.1 bundled on the 4th of June 2025. Enables advertisers to now also bid on Android Cohorts additionally to iOS
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Verve Dataseat: The only ID-Less DSP How Dataseat utilises ML to create ID less audiences App Bundle User Session Duration Geo City ATOM Cohorts Tag ID Geo Country Geo Region Day of Week Device OS (Minor) Device Model Bid Floor Language 0.0 0.1 0.2 0.3 Variable importance for each data point The inputs are fed into our DSP ML model Verve DSP ML Optimised bid price prediction
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Accessible data on our tech stack - PII vs. non-PII A peek into the data signals on our tech stack Android PII vs Non PII Total Revenue Split iOS PII vs Non PII Total Revenue Split PII Revenue Non PII Revenue20% vs 80% 80% vs 20% Challenge Majority of the data on iOS is non PII revenue, making it harder to target audiences on iOS. 20% 80% 20% 80%
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The Need for Unified Data There is a strong need for a unified data platform combining ID based and ID-less sources. ID Based data ID-Less data MAID Email Demo Interests IPs ID5 Location Context A single solution combining our different data sources and following a privacy-first approach. One single audience store
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109 Scale - Helix seamlessly utilizes ID-based and IDless addressability products to ensure maximum scale. Helix is an Audience Intelligence Engine It offers a multitude of benefits solving the addressability problems such as: Omnichannel - Helix addresses the target audience across all channels and formats. AI addressability - Optimal targeting for the deal based on client’s description of the target audience. Insights - Helix provides comprehensive planning insights. AI Optimization - AI agent squad allows Helix to run automated adjustments. Deal Portal - Helix is available within the Verve Deal Portal.
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110 Enter a prompt with your desired audience, and Persona AI will create a Helix audience for you. Helix: Persona AI Persona AI is your own assistant that helps you build new audiences through a simple prompt. Available in Helix. Streamline Streamlines audience targeting by automatically generating and optimizing unique Fusion Audiences from marketer descriptions to achieve deal KPIs.
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Number of total daily matches for the target audience Helix: Persona AI Total daily matches Match Persona AI gives you the total daily matches for your requested audience, split by format. 111
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Affinity graph for more detailed audience insights to optimize your targeting selection Helix: Persona AI Affinity - audience insight Gauge behavior Audience affinity shows you audience category relationships. Insights are shown into how various behavioral characteristics and interests are related to each other. 112
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Affinity location shows where your targeted audience is located Helix: Persona AI Affinity - location Locate Use Affinity Location to select or deselect geographical areas in your campaign. User can zoom in from a country level down to a zip-level. 113
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Inventory ad format Helix: Persona AI Inventory ad format Inform Gather insights about the different ad formats. Collect information on matches per ad format. 114
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Gauge pricing Helix: Persona AI Inventory pricing Price Get insights about the available inventory for a chosen pricing point. The suggestions to the right gives the user a proposal on how to optimise the ROI. 115
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Vision End-To-End Hands-Off-KeyBoard Publisher Advertiser Curation Centre Control Centre Verve marketplace Traffic shaping Floor pricing Dynamic margins Helix Content intelligence User intelligence Verve DSP Bidding & shading Creative design Pacing & targeting User devices CTV, Mobile, Web, DOOH Edge Intelligence Media Planning Funnel Intelligence Self-Healing Anomaly Detection Traffic Shaping Floor Pricing Dynamic Margins Bidding/Shading Creative Design Pacing/Targeting Content Intelligence User Intelligence
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AI basicsAI at the core of Verve 1 2 3 AI for targeted advertising AI for differentiation4 AI for efficiency
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Q&A Session 2
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Closing Remarks
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Our Aim for Today Was: Presenting our Q2 performance and give you an update of what we have achieved at Verve since CMD 2024 • Commercial Update • Financial Update • Explaining our Q2 unification issue • Our strategy and confidence for the quarters ahead External and Internal Experts gave you an overview of what is happening in the industry and at Verve • Transformation of the advertising industry • Verve’s ID-less Solutions • Verve’s AI-based Solutions
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Verticalization by Industry Multichannel Approach in Emerging Growth Channels Privacy First & Quality Standards Platform Unification for Efficiency and Scaling Investments into Sales & Geo Expansion Strengthening the Core Team M&A as Add-On to Organic Growth We continue our focus: Make Media Better. ID-less Advertising Solving the Blind Spot AI in Advertising A Competitive Edge
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We will keep investing in these growth drivers, targeting to reach €1 billion net revenue within the next three to five years. We reached a key milestone on the in-app platform unification which makes us more efficient We further build on our strong direct supply position in in-app + scaling the other emerging channels We further invest in our sales teams We continue in investing into our differentiation: ID- less, sector expertise, AI tools & optimization In summary:
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LOOKING AHEAD I Would Like to Thank Our Speakers And those who helped prepare this presentation
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Let’s make media better. But the biggest thanks is to you Our investors Our analysts And all other partners Thank you for your trust and support
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One Brand, One Team, One Mission Let’s make media better