Upsales (UPSALE) investor relations material

Leadership transition and background

• CEO Daniel Wikberg is stepping down after 23 years, with Johan Kallblad set to take over after the summer; Wikberg will remain on the board.

• The leadership change was prompted by discussions with Kallblad, who shares a similar business philosophy and has a long-standing relationship with the company.

• The transition is seen as timely, with the company in a strong position following a period of renewed growth.

Strategic developments and company performance

• Recently completed the spin-off of AI startup Aira, now a standalone company, to clarify Upsales' underlying profitability.

• Aira will begin trading on Nasdaq First North, further separating the businesses and highlighting Upsales' financial strength.

• Upsales reported 13% year-on-year growth in Q1, with pro forma EBITDA margins close to 30% after excluding Aira.

• Growth had slowed in 2023 and early 2024 due to market conditions and internal reorganization, but has since rebounded.

Incoming CEO’s vision and priorities

• Kallblad emphasizes cash flow, high margins, and organic growth, with openness to capital-efficient M&A for adjacent products.

• Customer success and efficiency for sales organizations in the Nordics are top priorities.

• Plans to spend initial months understanding the team and business before setting new strategic goals.

• Open to exploring partnerships with system integrators that align with the company’s core business.