Slides
Page 1
Q1 2025 Results Presentation Per Ottosson | CEO Fredrik Törgren | CFO Tuesday, May 6th, 2025
Page 2
Presenters Fredrik Törgren | CFO Various CFO & Finance roles in large corporates and in Private Equity-backed Technologyand SaaS companies Former Investment Bankingexperience with Handelsbanken Capital Markets and Pareto Securities. M.Sc. Business & Administration, Stockholm School of Economics Per Ottosson | CEO Has +25 years of experience from leading positions in the software and SaaS industry Most recently spent 10 years with IPSoft (Amelia) - US based vendor of enterprise AI solutions - as Chief Revenue Officer M.Sc. Business & Administration, Stockholm School of Economics
Page 3
Market Update
Page 4
is born.
Page 5
TAM
Page 7
Is Klarna the Hallmark of LLM Chat support? 1. Generates verbose responses 2. Unable to perform simple actions 3. Asks users to exit support to complete actions 4. Hides the customer support chat 5. Employs a sickly-sweet tone 6. Suffers from lengthy response times
Page 8
LLMs Need Help
Page 9
Johann Rehberger
Page 11
$6.0 ANSWERS. UNDERSTANDS. RESOLVE. 40 60% of cases automatically resolved GATHERS INFO. AVOIDS MISROUTINGS $0.4 60 40% of cases transferred to the right agent with all background + = ENHANCED CUSTOMER EXPERIENCES 100% Happier customers!
Page 12
Accuracy Is THE Reason Understanding of Conversations in Banking 77 dataset tested by Cyara * * 95% Accuracy reached out-of-the box. 99% accuracy can be reached within 4 hours of work.
Page 13
Who said AI has no ROI? 1. One answered phone call costs 60 SEK 2. 1 million calls = 60 million SEK 3. 1 percent automation = 600,000 SEK 4. 60 percent = 36 million SEK 5. CSAT +18 points
Page 14
TAM 5 billion Calls in Q1 2025
Page 15
Business Update
Page 16
NRR in Q1 2025 142% 60M SEK ARR in Q1 2025 +101M Gross Margin 86% Growth in SaaS ARR YoY +185% Revenue Growth SaaS API Calls YoY +101% Brilliant quarter Q1 2025 SEK Directed Share Issue
Page 17
Investment in New Sales Take an average large Teneo customer: Subscription 9900 EUR per month 12 months = 118 800 EUR Pipeline stage weighting example Qualified 20% In pipeline a qualified deal would have a value of 24 000 EUR. 12-month Pipeline (subscription only) today : 266 000 EUR in October 461 000 EUR in February 1 050 000 EUR in April
Page 18
U.S. Go to Market
Page 19
SALES TERRITORY MAP Jon Henry Jeff WA OR CA NV UT AZ NM CO WY MT ID ND SD NE KS MN IA MO TX OK AR LA WI IL IN OH MI PA NY TN NC SC GAALMS FL ME VA KY VT NH MA CT NJ AK WV Sales Representatives - Jon, Henry, Lee, Jeff - Anne, Howard, Julia
Page 20
Impact for Teneo? 1. Local US delivery 2. Cost Savings in Focus 3. Dollar impact
Page 21
Q1 2025 Operational Highlights +185% YoY growth in SaaS API call revenues and +101% SaaS ARR growth SaaS API Volumes +154% YoY Consistent profitability: 86% Gross Margin maintained for second straight quarter Renewal agreement with Global Tech, Medtronic, AT&T and Swisscom Successful Directed Share Issue of 60 MSEK
Page 22
Financials
Page 23
NRR in Q1 2025 142% 60M SEK ARR in Q1 2025 +101M Gross Margin 86% Growth in SaaS ARR YoY +185% Revenue Growth SaaS API Calls YoY +101% Financial Summary Q1 2025 SEK Directed Share Issue
Page 24
Key Metrics % SaaS* * % SaaS Recurring Revenues as % of Total Recurring Revenues. ** % Recurring Revenues as % of Total Net Sales. Key Financial Highlights In Q1 2025 FANTASTIC RESULTS ON ALL KEY METRICS % Recurring Revenues** % YoY Growth SaaS API Call Revenues SaaS API Call revenues amounted to 14.6 (5.1) MSEK, +185% SaaS API Call Volumes amounted to 60.6 million (23.8), +154 % SaaS ARR amounted to 74.7 (37.2) MSEK, + 101% Total ARR amounted to 101.1 MSEK (66.9), +51% Recurring revenues amounted to 25.3 MSEK (17.0), +49% Net Revenue Retention 142% (141) Net sales amounted to 25.3 MSEK (17.1), + 47% Gross margin amounted to 86% (79%) EBITDA adjusted amounted to -1.4 MSEK (-8.4) 185% 99%73%
Page 25
NRR (%) – Driven by Growth in Existing Accounts Net Revenue Retention STRONG +142% 141% 134% 127% 135% 142% Q1 ´24 Q2 ´24 Q3 ´24 Q4 ´24 Q1 ´25
Page 26
SaaS API Calls Quarterly Average (million) + 154% YoY SAAS Business Model Growth SAAS API CALL VOLUMES - UP YoY 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 Q3 ´21 Q4 ´21 Q1 ´22 Q2 ´22 Q3 ´22 Q4 ´22 Q1 ´23 Q2 ´23 Q3 ´23 Q4 ´23 Q1 ´24 Q2 ´24 Q3 ´24 Q4 ´24 Q1 ´25 154%
Page 27
SaaS and Total ARR Quarterly Average (MSEK) + 101% SaaS YoY ARR Growth AVERAGE ARR – OUR WAY TO MEASURE 31.0 37.2 43.7 54.3 75.1 74.7 63.0 66.9 74.3 84.3 103.9 101.1 Q4´23 Q1´24 Q2´24 Q3´24 Q4´24 Q1´25 SaaS ARR ARR Total ARR +51% YoY SaaS ARR +101% YoY
Page 28
Optimal SaaS Gross Margin Stable QoQ 79% 79% 79% 80% 86% 79% 82% 83% 87% 86% Q1 ´24 Q2 ´24 Q3 ´24 Q4 ´24 Q1 ´25 GM Inc. Commissions GM Exc. Commissions Strong Performance: 86% Gross Margin Highlights SaaS Model Efficiency
Page 29
Annual OPEX Run Rate* MSEK Monthly OPEX(*) in Q1 2025 of 9.7 MSEK OPEX(*) run rate of 117 MSEK in Q1 2025, up from 115 MSEK in Q4 2024 Plan to continue to invest in sales and marketing activities in 2025 As announced in Q4 2024, the plan is to increase costs with approx. 10% vs. Q4 2024 runrate costs * OPEX adjusted for non-recurring items and cost of sales OPEX RunRate Q1 2025 Aligned to plan 115 117 Q4´ 24 Q1´ 25
Page 30
Cash Position Mar 31, 2025 – Adjusted March 31, 2025, cash and bank position amounted to 53.9 MSEK Cash received from collected ARs in Q2 2025 of 9.7 MSEK Adjusted cash & bank approximately 63.6 MSEK CASH POSITION CASH ADJUSTED 53.9 9.7 63.6 MSEK
Page 31
Q1 2025 Operational Highlights +185% YoY growth in SaaS API call revenues and +101% SaaS ARR growth SaaS API Volumes +154% YoY Consistent profitability: 86% Gross Margin maintained for second straight quarter Renewal agreement with Global Tech, Medtronic, AT&T and Swisscom Successful Directed Share Issue 60 MSEK proceeds
Page 32
+142% Q&A NRR in Q1 2025 SEK ARR in Q1 2025 101M 60M Growth in SaaS ARR YoY +101% Gross Margin 86% +185% Revenue Growth SaaS API Calls YoY SEK Directed Share Issue
Page 33
Thank You! Per Ottosson | CEO Fredrik Törgren | CFO