Synexo Group (SYNEXO) Investor presentation summary

Business overview and strategy

• Focuses on BaaS and managed hosting, offering high-margin, recurring revenue services with low churn and strong data security emphasis.

• Operates a scalable consolidation platform in the fragmented Nordic hosting and data protection market, leveraging acquisitions and integration for growth.

• Pursues organic growth, operational scale, and accretive M&A, with 42 targets in the pipeline and 7 in active discussions.

• Cross-sells services across acquired customer bases and centralizes infrastructure to improve unit economics.

• Maintains a disciplined, shareholder-first approach with experienced management and significant insider ownership.

Financial performance and targets

• Achieved SEK 10.2m live ARR in July 2026, up 156% year-over-year, with 66% gross margin and 122% net retention rate.

• Q2'26 ARR reached SEK 10.1m, with an additional SEK 4.3m in signed backlog, and organic ARR growth of 86% y/y (165% including Deploi acquisition).

• Maintains low churn (3.6% LTM) and high NRR (~122% LTM), driven by mission-critical use cases and stable customer relationships.

• Run-rate Cash EBITDA of ~SEK 3.2m, with both subsidiaries cash-flow positive and a lean cost structure supporting scalability.

• Balance sheet is debt-free with SEK 4.5m cash and positive operating cash flow; future funding needs tied to M&A activity.

Market opportunity and growth drivers

• Nordic BaaS market expected to grow at ~32% CAGR to 2030, with SEK 2.8bn addressable market; hosting/data infrastructure at ~25% CAGR.

• Growth driven by accelerating data volumes, compliance, cloud migration, and data sovereignty requirements.

• Deploi acquisition expands platform and increases cross-sell and consolidation opportunities.

• 2026 targets lifted post-acquisition: >SEK 15.5m live ARR and >SEK 21.5m signed ARR by Q4'26, with group gross margin >70%.

• 2027 ambition includes >50% organic signed ARR growth and continued profitable expansion.