Growens (GROW) Investor presentation summary

Strategic evolution and business highlights

• Transitioned from a digital agency to a global SaaS and CPaaS provider, with 7 acquisitions and 2 major divestments since 2015, focusing on innovation in cloud software and content design.

• International revenues grew from 10% to 80% since IPO, now serving around 12,000 clients and over 1 million free users in 180 countries.

• Major 2023 divestments included the sale of MailUp, Acumbamail, Contactlab, and Datatrics, raising over €78m and enabling a strategic focus on Beefree.

• Acquired RGE assets in 2024 for up to $6.6m to expand Beefree's audience and capabilities.

• Launched value creation initiatives: partial tender offer (€18m), first dividend (€1.58/share in 2024), and scrip dividend (€0.38/share in 2025).

Business unit performance

• Beefree achieved a 3-year ARR CAGR of 43.3%, with $17m ARR (+24% YoY) and 9,800+ clients, focusing on no-code email and landing page creation.

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

• Agile Telecom, acquired in 2015, is the #1 Italian CPaaS player, sending ~2 billion SMS annually, with €60m revenues and 12% gross margin in 2024.

• Agile Telecom's quarterly sales remained stable with a 0.7% average quarterly growth over three years.

Financial performance and capital allocation

• FY 2024 revenues were €74.5m (-0.8% YoY), with Agile Telecom contributing €60.3m and Beefree €12.7m (+23.5% YoY).

• EBITDA improved from -€0.6m in 2023 to -€0.1m in 2024, with gross profit up 20% and increased investments in S&M (+31%) and R&D (+37%).

• Net cash position strengthened by divestments, with €69m cash-in, €20m dividend payout, and €18m spent on treasury shares.

• June 2025 ARR: Beefree €15m (+18.6% YoY), Agile Telecom €14.6m (-3.9% YoY).