Virtualware (MLVIR) Investor Update summary

Financial performance highlights

• Achieved business revenues of €4.20 million and EBITDA of €808,000, with a DFN/EBITDA ratio of 0.50, reflecting strong financial health and profitability improvements over the previous year.

• Gross profit increased to €3.65 million, while personnel expenses decreased by 5% and employee count rose by 8%.

• Net financial debt was reduced to €440,316, significantly improving the DFN/EBITDA ratio from 3.44 to 0.5 year-over-year.

Revenue breakdown and market expansion

• VIROO VRaaS subscription revenue grew 36% year-over-year, while legacy projects and SIMUMATIK contributed to diversification.

• Domestic market accounted for 54% of total revenue, with North America and EMEA representing 36% and 2%, respectively.

Strategic initiatives and partnerships

• Strategic plan 2024-2026 focuses on product growth, sustainability, organizational excellence, and talent attraction.

• Pursuing SaaS-based organic growth, North American expansion, and indirect channel development, complemented by inorganic growth through acquisitions and partnerships.

• Recent partnerships with Edutech, Magicgate, and FS Studio aim to accelerate XR adoption in EMEA and the U.S.

• Acquired Sweden's Simumatik to strengthen position in the real-time 3D enterprise software industry.