Growens (GROW) Investor presentation summary

Strategic overview and growth trajectory

• Operates in the fast-growing B2B SaaS and cloud software sector, focusing on no-code email content design and mobile messaging.

• Achieved a 22% 3-year CAGR in Beefree and completed seven acquisitions and two major divestments since 2015.

• International revenues surged from 10% to 73% since IPO, now serving around 12,000 clients and 1.4 million free users in 195 countries.

• Major divestments in 2023 included the sale of MailUp, Contactlab, Acumbamail, and Datatrics, raising over €78 million.

• Focused on organic growth and M&A, especially around Beefree, with €15 million investment planned for 2024-2026.

Business units and market positioning

• Beefree is a leading no-code drag-and-drop email and landing page editor, spun off in 2017, with 10,000+ clients and 1.4 million free users.

• Beefree SDK is embedded in over 1,100 SaaS applications, including 75% of Forrester Wave Email Marketing Service Providers.

• Agile Telecom is Italy’s top A2P messaging provider, sending over 2.5 billion SMS annually, with 370 direct carrier connections.

• Beefree targets end users and SaaS platforms, while Agile Telecom focuses on wholesale and is expanding into retail.

• Competitive landscape includes global SaaS and CPaaS players, with Beefree and Agile Telecom holding strong positions in their niches.

Financial performance and guidance

• FY 2025 revenues reached €77.4m (+4% YoY), with Agile Telecom contributing €61.8m and Beefree €15.0m.

• EBITDA improved to €2.5m in FY 2025 from -€0.1m in FY 2024, driven by Beefree’s 18% revenue growth and Agile Telecom’s margin expansion.

• Beefree’s ARR grew 11% YoY to $17.8m in December 2025, with a 3-year CAGR of 28.7%.

• Beefree expects 20-23% revenue CAGR through 2027, targeting >80% gross margin and EBITDA break-even by 2027.

• Net cash position at €31.5m in FY 2025, after significant dividend payouts and M&A activity.