Slides
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CM.com 2026 third-quarter results Breda, the Netherlands October 16, 2026 CM.com reports 9% revenue growth and 47% EBITDA growth in Q3 2026 Positive net result in Q3, 2026 outlook raised
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Contents 2 • Highlights, Trends, and Positioning • Financial & Business Overview • Outlook • Financial Statements • Alternative Performance Measures
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3 Highlights, Trends, and Positioning
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Financial Highlights Q3 2026 4 • Revenue € 67.3 million, up 9% year-on-year • Gross profit € 21.4 million, up 1% year-on-year, and 4.4% quarter-on-quarter • OPEX € 13.4 million, a decrease of 15% year-on-year • EBITDA € 8.0 million, up 47% year-on-year • Net profit € 1.0 million, up from a net loss of € 2.4 million in Q3 2025
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Business Highlights 5 • CPaaS, our founding business, delivered 8% year-on-year growth in gross profit • Messaging volumes reached 2.8 billion in Q3, up 17% year-on-year, with growth across all channels • Rich messaging volumes grew 40% year-on-year. During the quarter, CM.com was also named a Meta Premier Partner for WhatsApp Business • HALO’s contribution to Annual Recurring Revenue (ARR) more than doubled year-on-year to € 4.0 million, from € 1.7 million in Q3 2025
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Structural Market Tailwinds Support CM.com’s Strategic Direction 6 • The global AI market is growing, with businesses increasingly adopting AI to automate processes, personalize customer experiences and drive efficiency within Service, Marketing and Commerce • This structural shift is accelerating demand for integrated, data-driven customer engagement solutions • CM.com’s engagement offering, combining messaging, payments, data with AI powered capabilities, is well-positioned to address these evolving customer needs
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Executing Today to Capture Tomorrow’s Growth 7 • CM.com continues to invest in innovation, including Agentic AI, Voice AI, Voice for WhatsApp, and Rich messaging, reinforcing its ambition to operate as an AI-first company • These investments are aligned with the structural market trends and support scalable, data- driven customer engagement • We are raising our full-year 2026 outlook and now expect adjusted EBITDA of € 27.6 million to € 28.6 million, representing year-on-year growth of 39% to 44%, compared with our previous guidance of more than 30%. For Q4, we expect adjusted EBITDA of € 7 million to € 8 million • CM.com remains committed to its FY 2028 ambitions: Gross profit growth of at least 15% YoY, Gross margin around 35%, and an EBITDA margin of 12–15%
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8 Financial & Business overview
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Overview Key Financials – Q3 2026 9 1. Restated, as announced in the Q2 2026 press release. 2. Full time equivalent, excluding interns, measured per end of the period. For definitions of performance measures, we refer to the slide at the back of this deck. x € million - unaudited Q3 2026 Q3 2025¹ YoY % Revenue 67,3 61,4 9% Gross profit 21,4 21,2 1% Gross margin (%) 31,8% 34,5% OPEX (13,4) (15,8) (15%) EBITDA 8,0 5,4 47% EBIT 2,6 (0,6) Net result 1,0 (2,4) Adjusted OPEX (13,3) (15,2) (12%) Adjusted EBITDA 8,1 6,0 34% Adjusted EBITDA margin (%) 12,0% 9,8% Adjusted EBITDA CC 7,9 6,0 31% FTE² 574 628 (9%) TTM Gross profit / FTE (x € 1.000) 142 133 7% Net debt 55,7 59,8 (7%) Adjusted Leverage ratio 2,1x 3,1x
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Key Financial Trend – Revenue Revenue (€ million) 10 70,5 64,8 68,2 76,3 70,1 64,9 61,8 63,9 61,5 68,2 62,5 72,4 60,3 58,8 61,4 67,6 62,9 67,0 67,3 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Restated, as announced in the Q2 2026 press release.
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Key Financial Trend – Gross Profit Gross profit (€ million) For definitions of performance measures, we refer to the slide at the back of this deck.11 17,8 17,4 19,3 17,5 18,9 19,2 20,0 20,4 19,5 20,7 21,1 21,8 20,4 19,8 21,2 19,8 20,1 20,5 21,4 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Key Financial Trend – Gross Margin Gross margin Restated, as announced in the Q2 2026 press release. For definitions of performance measures, we refer to the slide at the back of this deck. 12 25,3% 26,8% 28,3% 22,9% 27,0% 29,6% 32,3% 31,9% 31,8% 30,4% 33,8% 30,1% 33,9% 33,7% 34,5% 29,3% 31,9% 30,6% 31,8% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Key Financial Trend - Adjusted OPEX Adjusted OPEX (€ million) For definitions of performance measures, we refer to the slide at the back of this deck.13 24,1 23,4 26,6 20,1 17,7 20,2 20,7 20,9 16,3 15,8 16,4 16,5 16,5 16,0 15,2 13,9 13,9 14,2 13,3 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Key Financial Trend - Adjusted EBITDA Adjusted EBITDA (€ million) For definitions of performance measures, we refer to the slide at the back of this deck.14 -6,2 -6,1 -7,3 -2,7 1,2 -0,9 -0,7 -0,5 3,3 4,9 4,7 5,3 3,9 3,9 6,0 5,9 6,2 6,3 8,1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Key Financial Trend - Net Result Net result (€ million) For definitions of performance measures, we refer to the slide at the back of this deck.15 -7,9 -16,6 -13,1 -7,1 -4,2 -8,7 -8,3 -7,6 -4,6 -2,6 -2,0 -10,6 5,5 -4,6 -2,4 -2,2 -1,2 -1,1 1,0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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FTE Trend FTE1 1. Full time equivalent, excluding interns, measured per end of the period16 818 848 907 906 878 839 767 710 680 664 655 666 678 653 628 616 592 578 574 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Balance Sheet Management 17 For definitions of performance measures, we refer to the slide at the back of this deck. Net debt (€ million) Adjusted Leverage ratio 17,0 15,3 12,8 CAPEX (€ million) 81,9 61,9 60,2 59,8 55,7 YE'24 YE'25 Q1 2026 Q2 2026 Q3 2026 4,5 3,1 2,7 2,4 2,1 YE'24 YE'25 Q1 2026 Q2 2026 Q3 2026 4,0 4,2 3,9 4,0 3,8 4,6 3,6 2024 2025 2026 Q1 Q2 Q3 Q4 Total
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Market Segments - QTD 18 Revenue (€ million) Gross profit (€ million) Q3 2025¹ Q3 2026 1. Restated, as announced in the Q2 2026 press release. For definitions of performance measures, we refer to the slide at the back of this deck. 54,3 6,1 3,2 3,7 CPaaS SaaS/AI Payments Ticketing 10,5 5,3 2,5 2,9 CPaaS SaaS/AI Payments Ticketing 11,3 5,3 1,7 3,0 CPaaS SaaS/AI Payments Ticketing 48,1 5,9 4,0 3,5 CPaaS SaaS/AI Payments Ticketing 67,3 21,2 21,4 61,4
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Market Segments - YTD 19 Revenue (€ million) Gross profit (€ million) Q3 YTD 2025¹ Q3 YTD 2026 1. Restated, as announced in the Q2 2026 press release. For definitions of performance measures, we refer to the slide at the back of this deck. 160,9 17,8 9,4 9,0 CPaaS SaaS/AI Payments Ticketing 32,6 15,0 5,5 8,3 CPaaS SaaS/AI Payments Ticketing 33,2 15,5 5,6 7,7 CPaaS SaaS/AI Payments Ticketing 144,5 16,8 9,7 9,4 CPaaS SaaS/AI Payments Ticketing 197,2 61,5 62,0 180,5
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Regions & Clients – Diversified Portfolio 20 Regions1 (Revenue share in %) 1. Regions based on location Head Office client 2. Restated, as announced in the Q2 2026 press release. Clients2 (Revenue share in %) 61% 62% 59% 65% 68% 39% 38% 41% 35% 32% 2022 2023 2024 2025 Q3 2026 YTD Europe Rest of World 38% 33% 36% 30% 29% 32% 33% 29% 30% 31% 30% 34% 35% 40% 40% 2022 2023 2024 2025 Q3 2026 YTD Top 10 clients 11-100 clients Rest clients
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Annual Recurring Revenue Quarterly Trend ARR (€ million) 21 26,3 27,6 29,1 29,3 30,3 30,9 31,3 31,8 32,0 32,6 33,6 33,7 34,4 34,5 35,2 35,9 36,2 35,5 35,1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 For definitions of performance measures, we refer to the slide at the back of this deck.
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# Messages Quarterly Trend # Messages (# billion) 22 For definitions of performance measures, we refer to the slide at the back of this deck. 1,7 1,7 1,8 1,9 1,7 1,6 1,7 2,0 2,0 2,4 1,8 2,1 1,8 2,2 2,4 2,7 2,4 2,8 2,8 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 SMS Rich Channels
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Total Payment Volume Quarterly Trend Total Payment Volume (€ million) 526 623 526 623 526 543 596 802 690 692 673 763 675 664 730 863 750 725 710 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 23
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# Tickets Quarterly Trend # Tickets (# million) 2,5 3,9 4,2 4,0 4,0 4,6 5,2 4,7 4,4 4,9 5,1 4,9 5,0 5,6 5,5 4,5 4,5 4,9 4,8 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 24
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25 Outlook
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Outlook 26 Q3 YTD 2026 FY 2026 Reported Q3 YTD 2026 Outlook Q4 2026 Revenue +9% YoY EBITDA +50% YoY Adjusted EBITDA Between € 7 million to € 8 million Outlook FY 2026 Adjusted EBITDA Between +39% to +44% YoY (versus previous Outlook of at least +30% YoY) Q4 2026
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27 Financial Statements
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28 Consolidated Statement of Comprehensive Result – Quarterly Overview x € 1,000 - unaudited Q3 2026 Q2 2026 Q1 2026¹ Q4 2025¹ Q3 2025¹ Revenue 67.252 67.035 62.863 67.553 61.423 Cost of services (45.862) (46.550) (42.780) (47.744) (40.216) Gross profit 21.390 20.485 20.083 19.809 21.207 Gross margin (%) 31,8% 30,6% 31,9% 29,3% 34,5% Employee benefits (9.006) (9.976) (9.819) (10.842) (10.772) Other operating expenses (4.454) (4.593) (4.478) (3.944) (5.109) Other operating income 83 91 79 99 117 Operating result, EBITDA 8.013 6.007 5.865 5.122 5.443 EBITDA margin (%) 11,9% 9,0% 9,3% 7,6% 8,9% One-offs 90 249 361 820 597 Operating result, Adjusted EBITDA 8.103 6.256 6.226 5.942 6.040 Adjusted EBITDA margin (%) 12,0% 9,3% 9,9% 8,8% 9,8% Amortization, depreciation, and impairments (5.376) (5.345) (5.212) (5.701) (6.020) Operating result, EBIT 2.637 662 653 (579) (577) Financial income and expenses (1.409) (1.598) (1.648) (1.836) (1.922) Result before tax 1.228 (936) (995) (2.415) (2.499) Income tax (180) (195) (166) 211 54 Result after tax 1.048 (1.131) (1.161) (2.204) (2.445) Other comprehensive result² 131 31 115 (22) 92 Total comprehensive result 1.179 (1.100) (1.046) (2.226) (2.353) 1. Restated, as announced in the Q2 2026 press release. 2. The other comprehensive result consists completely of foreign currency translation which may be reclassified subsequently to profit or loss. For definitions of performance measures, we refer to the slide at the back of this deck.
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Consolidated Statement of Cash Flow – Quarterly Overview 29 For definitions of performance measures, we refer to the slide at the back of this deck. x € 1,000 - unaudited Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Cash and cash equivalents, beginning of period 33.898 37.461 33.210 48.944 36.045 Cash flow from operating activities 2.855 1.534 10.949 (15.077) 14.208 Cash flow from investing activities (2.732) (2.815) (4.293) (3.561) (3.653) Cash flow from financing activities (7.213) (2.303) (2.405) 2.913 2.336 Currency results on cash and cash equivalents 83 21 - (9) 8 Changes in cash and cash equivalents (7.007) (3.563) 4.251 (15.734) 12.899 Cash and cash equivalents, end of the period 26.891 33.898 37.461 33.210 48.944 EBITDA 8.013 6.007 5.865 5.122 5.443 Changes in Net Working Capital 971 (1.079) 2.395 (7.223) (4.290) -/- CAPEX (4.616) (3.967) (4.164) (3.566) (3.764) Free Cash Flow 4.368 961 4.096 (5.667) (2.611) Cash at bank 14.315 15.160 14.830 13.138 15.229 Cash at bank restricted 12.576 18.738 22.631 20.072 33.715 Cash and cash equivalents, end of the period 26.891 33.898 37.461 33.210 48.944 Revolving credit facility 70.000 75.000 75.000 75.000 75.000 -/- Cash at bank (14.315) (15.160) (14.830) (13.138) (15.229) Net Debt 55.685 59.840 60.170 61.862 59.771
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Consolidated Statement of Financial Position – Quarterly Overview 30 x € 1,000 - unaudited Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Goodwill 20.617 20.617 20.617 20.617 20.617 Intangible fixed assets 68.484 67.892 67.988 67.748 69.421 Property, plant, and equipment 7.225 7.492 7.699 7.900 8.332 Right-of-use assets 18.611 19.371 20.391 21.307 21.376 Long-term receivables 1.666 1.746 1.782 1.783 1.385 Deferred tax assets 1.175 1.230 1.226 1.151 1.108 Short-term loan receivables 276 2.149 3.289 3.128 3.528 Inventories 385 381 380 364 483 Trade and other receivables 43.632 48.074 48.751 48.927 49.510 Cash and cash equivalents 26.891 33.898 37.461 33.210 48.944 Total Assets 188.962 202.850 209.584 206.135 224.704 Equity 26.944 25.389 26.300 27.285 24.583 Non-current liabilities 73.396 74.342 75.353 86.294 86.637 Current liabilities 88.622 103.119 107.931 92.556 113.484 Total Equity and Liabilities 188.962 202.850 209.584 206.135 224.704
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Consolidated Statement of Comprehensive Result – 5 Year Overview 31 x € 1,000 2025¹ 2024¹ 2023¹ 2022¹ 2021 Revenue 248.044 264.583 260.786 279.817 237.047 Cost of services (166,745) (181,476) (182,253) (207,848) (174.397) Gross profit 81.299 83.107 78.533 71.969 62.650 Gross margin (%) 32,8% 31,4% 30,1% 25,7% 26,4% Employee benefits (44.715) (45.699) (54.345) (55.148) (40.747) Other operating expenses (18.602) (20.946) (26.915) (43.327) (25.584) Other operating income 377 - - - - Operating result, EBITDA 18.359 16.462 (2.727) (26.506) (3.681) EBITDA margin (%) 7,4% 6,2% (1,0%) (9,5%) (1,6%) One-offs 1.417 1.628 1.793 4.194 - Operating result, Adjusted EBITDA 19.776 18.090 (934) (22.312) (3.681) Adjusted EBITDA margin (%) 8,0% 6,8% (0,4%) (8,0%) (1,6%) Amortization, depreciation, and impairments (22.909) (31.732) (21.841) (18.094) (15.582) Operating result, EBIT (4.550) (15.270) (24.568) (44.600) (19.263) Financial income 9.184 1.232 1.296 4.740 2.052 Financial expenses (8.282) (5.220) (5.618) (4.963) (4.107) Share of results in associates - - (561) (151) (26) Result before tax (3.648) (19.258) (29.451) (44.974) (21.344) Income tax (138) (555) 732 233 3.854 Result after tax (3.786) (19.813) (28.719) (44.741) (17.490) Other comprehensive result² (482) 109 (212) 1.180 888 Total comprehensive result (4.268) (19.704) (28.931) (43.561) (16.602) Basic loss per share (in €) (0,12) (0,68) (1,00) (1,51) (0,58) Diluted loss per share (in €) (0,12) (0,68) (1,00) (1,51) (0,58) 1. Restated, as announced in the Q2 2026 press release. 2. The other comprehensive result consists completely of foreign currency translation which may be reclassified subsequently to profit or loss. For definitions of performance measures, we refer to the slide at the back of this deck.
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Consolidated Statement of Cash Flow – 5 Year Overview 32 For definitions of performance measures, we refer to the slide at the back of this deck. x € 1,000 2025 2024 2023 2022 2021 Cash and cash equivalents, beginning of period 38.400 48.599 82.740 122.058 52.504 Cash flow from operating activities 9.695 18.348 (3.582) (1.542) 2.909 Cash flow from investing activities (14.236) (20.763) (18.935) (25.167) (26.027) Cash flow from financing activities (563) (7.541) (10.522) (14.055) 91.673 Currency results on cash and cash equivalents (86) (243) (1.102) 1.446 999 Changes in cash and cash equivalents (5.190) (10.199) (34.141) (39.318) 69.554 Cash and cash equivalents, end of the period 33.210 38.400 48.599 82.740 122.058 EBITDA 18.359 16.462 (2.727) (26.506) (3.681) Changes in Net Working Capital (9.199) 4.013 11.382 10.982 (3.255) -/- CAPEX (15.314) (17.040) (19.301) (18.878) (13.403) Free Cash Flow (6.154) 3.435 (10.646) (34.402) (20.339) Cash at bank 13.138 18.055 26.220 46.916 100.021 Cash at bank restricted 20.072 20.345 22.379 35.824 22.037 Cash and cash equivalents, end of the period 33.210 38.400 48.599 82.740 122.058 Convertible bonds - 100.000 100.000 100.000 100.000 Revolving credit facility 75.000 - - - - -/- Cash at bank (13.138) (18.055) (26.220) (46.916) (100.021) Net Debt 61.862 81.945 73.780 53.084 (21)
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Consolidated Statement of Financial Position – 5 Year Overview 33 x € 1,000 2025 2024 2023 2022 2021 Goodwill 20.617 20.617 29.397 29.404 22.210 Intangible fixed assets 67.748 70.085 71.454 69.099 57.923 Property, plant, and equipment 7.900 8.889 8.520 8.792 7.233 Right-of-use assets 21.307 24.630 27.177 30.658 13.437 Long-term receivables 1.783 1.397 1.512 1.465 2.152 Associates - - - 1.823 1.974 Deferred tax assets 1.151 1.242 1.136 1.506 1.083 Short-term loan receivables 3.128 4.786 596 1.369 496 Inventories 364 450 737 1.113 333 Trade and other receivables 48.927 59.295 50.989 57.035 49.326 Cash and cash equivalents 33.210 38.400 48.599 82.740 122.058 Total Assets 206.135 229.791 240.117 285.004 278.225 Equity 27.285 6.843 26.284 53.555 97.865 Non-current liabilities 86.294 112.781 112.366 115.502 102.035 Current liabilities 92.556 110.167 101.467 115.947 78.325 Total Equity and Liabilities 206.135 229.791 240.117 285.004 278.225
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34 Statements included in this presentation that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward-looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are typically identified by the use of terms such as “may,” “will”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “continue”, “predict”, “potential” or the negative of such terms and other comparable terminology. The forward-looking statements are based upon our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements. Forward Looking Statements
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35 Several alternative performance (non-IFRS) measures are disclosed in this presentation, in order to provide relevant information to better understand the underlying business performance of CM.com. Furthermore, CM.com has provided guidance on several of these (non-IFRS) financial measures, derived from the interim consolidated financial statements. An overview of the alternative performance measures with their definitions is provided below Alternative Performance Measures Performance Measure Definitions Adjusted EBITDA EBITDA adjusted for one-offs Adjusted EBITDA margin % Adjusted EBITDA divided by Revenue Adjusted Leverage ratio Net debt divided by trailing twelve months Adjusted EBITDA Adjusted OPEX OPEX adjusted for one-offs Annual Recurring Revenue (ARR) Annual Recurring Revenue streams from customers at the end of the period, related to subscription-based product pricing CAPEX Investments in intangible fixed assets and tangible fixed assets Constant Currencies (CC) Income and expenses, in local currencies, are recalculated to euros, using the average exchange rates of the comparison period in previous calendar year (Q3 2025: €/$ 1.17) EBIT Earnings before interest and tax EBITDA Operating result before amortization, depreciation, and impairments (if any) Free Cash Flow EBITDA less CAPEX, less changes in Net Working Capital Gross margin % Gross profit divided by Revenue Gross profit Revenue less cost of services Net debt Nominal value of the outstanding revolving credit facility, less unrestricted cash at bank. In 2024, net debt included the convertible bonds Net Working Capital Changes in inventories, trade and other receivables, trade and other payables, and contract liabilities, excluding receivables and payables from merchants and financial institutions One-offs Non-recurring, extraordinary or non-core items, being restructuring costs OPEX Employee benefits, other operating expenses, and other operating income TTM Gross profit / FTE Trailing twelve months gross profit divided by FTE Other items Definitions CPaaS Communication Platform as a Service Rich channels Rich channels include WhatsApp Business, Apple Business Chat, Google RCS, Facebook messenger and Viber SaaS Software as a Service, including Artificial Intelligence (AI) services