Bending Spoons (BSP) investor relations material

Company overview and business model

• Operates as a digital business acquirer, transforming and optimizing acquired companies to drive earnings growth and reinvesting proceeds into further acquisitions.

• Focuses on operational excellence, leveraging a proprietary Platform of talent, technology, and data.

• Portfolio includes over 50 acquisitions, with main businesses such as AOL, Brightcove, Eventbrite, Evernote, Harvest, komoot, Remini, StreamYard, Vimeo, and WeTransfer.

• Serves over 500 million monthly active users and 9 million monthly paying customers as of March 2026.

Financial performance and metrics

• Revenue grew from $387 million in 2023 to $1.31 billion in 2025, a CAGR of 84%.

• Operating income increased from $84 million in 2023 to $278 million in 2025, with a CAGR of 82%.

• Adjusted Operating Income Margin improved from 36% in 2023 to 47% in 2025.

• Adjusted Earnings per Share rose from $0.18 in 2023 to $0.60 in 2025, a CAGR of 82%.

• Q1 2026 revenue was $601 million, up 132% YoY; Adjusted Operating Income Margin reached 51%.

• Net cash from operating activities grew from $59 million in 2023 to $291 million in 2025.

Use of proceeds and capital allocation

• Net proceeds from the IPO are intended for general corporate purposes and new acquisitions; no binding agreements for material acquisitions at this time.

• Capital allocation priority remains on acquisitions, with nearly all available capital expected to be deployed for this purpose for years to come.

• Historical acquisition IRR hurdles: 65% levered, 25% unlevered for deals from 2023 through Q1 2026.