Doxee S.p.a. · MIL:DOX
Doxee — Investor Presentation (July 2026)
39 slides from Doxee's investor presentation, Jul 7, 2026
Slide 1: ISMO Parigi
ISMO Parigi Sergio Muratori Casali Co-Founder and co-CEO Tommaso Mascagni Chief Strategy Officer Paris July 7, 2026
Slide 2: Agenda
1. Doxee at a Glance 2. Addressable Market 3. 2030 Strategy Agenda 4. 2026-2028 Business Plan 5. Key Takeaways 6. Success Cases
Slide 3: Doxee at a Glance
1 Doxee at a Glance doxee
Slide 4: Doxee at a Glance | About Doxee
Doxee at a Glance | About Doxee Presence across Europe with Doxee is a cloud-sovereign European Technology Vendor, 200+ clients offering a communication platform for: Customer Communication Management (CCM), Customer Experience Management (CXM), Interactive Experience Management (IXM), Digital Archi
Slide 5: Doxee at a Glance | What we do
Doxee at a Glance | What we do Doxee Platform® Customer Data End-Customers Customer Communication Management Adopting a sovereign EU cloud platform enables template Print & consolidation, reduces costs and complexity, eliminates Mail CRM & CX silos, supports scalability, and accelerates ROI through
Slide 6: Doxee at a Glance | Market Validation
Doxee at a Glance | Market Validation CCM Market Guide – 2013. 2019, 2021 Tech Tide for Creative Technologies 2021 Tech Tide : Video Technologies 2020 Now Tech CCM, 2019 Now Tech On Line Video Platforms, 2019 SPARK Matrix : Customer Communication Management - 2023, 2024, 2025 Leaderboard for Custome
Slide 7: Doxee at a Glance | Our clients
Doxee at a Glance | Our clients Utilities Telecom & Media Banking Insurance Public Sector
Slide 8: Generali Customer Success Case (Insurance)
Generali Customer Success Case (Insurance) Global CCM Hub for Insurance in a Box Omnichannel Single Doxee Platform® instance unifying Generali's IIaB CCM Customer across six European countries, starting from Portugal. Experience Generali Global IIaB Doxee Platform® Print & Mail SMS Insurance in Glob
Slide 9: Now ready for the next scale-up phase
Doxee at a Glance | Doxee a long-standing market player, with turnaround completed in 2025 (O3 strategy) Founding and development O3 Consolidation Strategy delivered 2001-2023 2023-2025 • 2001 — Founding in Modena: paperless-first, fully digital • O3 strategy execution: Now ready for customer commun
Slide 10: Addressable Market
2 Addressable Market doxee
Slide 11: Reference Market | CCM is Doxee's core market, with adjacencies
Reference Market | CCM is Doxee’s core market, with adjacencies across other CX&RM markets and into Trust Services Customer Experience and Relationship Management (CX&RM) Trust Services Core CCM market Adjacent CX&RM markets Customer Communication Customer Experience Management (CCM) Management (CXM
Slide 12: Reference Market | Doxee bridges core Enterprise Systems with customers
Reference Market | Doxee bridges core Enterprise Systems with customers through a unique Platform, eliminating system fragmentation Core Enterprise Systems Doxee Platform® Customer Customers Adjacent CX&RM markets Interactive Email Microsites ERP Systems Customer Data Platform (CDP) • Data consolida
Slide 13: Addressable Market | ~4B€ Target EU Addressable Market in 2030
Addressable Market | Expected double-digit growth across segments, with adjacencies outgrowing CCM; ~4B€ Target EU Addressable Market in 2030 2025 European Software market size (€B) Target European Market segments & 2025-2030 expected CAGR Addressable Market (€B) 2025 2030 Core CCM market CCM ~0.5 ~
Slide 14: Key Trends | 7 major structural trends are shaping our market
not exhaustive Key Trends | 7 major structural trends are shaping our market EXOGENOUS — REGULATORY, MACRO AND TECHNOLOGY FORCES AI is consolidating as a structural driver of SaaS demand growth, while pushing for switching AI Market shift costs reduction, emergence of new capabilities, overall softw
Slide 15: 2030 Strategy
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Slide 16: Our Vision 2030: European leader in advanced CCM & CXM
Our Vision 2030 What: Core value proposition EU Sovereign Platform for AI-Powered Personalized Enterprise Communication Develop as European leader in Where: Strategic playgrounds advanced CCM & CXM Focus on 3 angles: Segments, Verticals and Geographies for regulated markets How: Execution Pillars Go
Slide 17: Deliver superior value to customers
What: Core value EU Sovereign Platform for AI-Powered Personalized proposition Enterprise Communication Rationalize enterprise application map to reduce fragmentation and business risks, while delivering industry-specific business solutions Deliver superior Advanced Enterprise Sovereign Doxee Agenti
Slide 18: What - Core value proposition | Doxee Agentic Platform
What - Core value proposition | Doxee Agentic Platform User Ontology evolution Human/Agent symbiosis Elevated human users, new agent users Collaboration leading to superior value creation Agentic Platform Human in the Loop Architectural Enabling enterprise evolution from pure assistance to controlle
Slide 19: Where: Segments
Application domain Doxee platform coverage evolution Where: Segments Other 01 CX&RM Markets CX&RM Adjacent CX&RM Customer Journey verticals capabilities Management, Customer development Data Platform, etc. Expand reach into High volumes batch/ on- CX&RM and Trust CCM Core Core market demand/ event t
Slide 20: Focus on key regulated verticals
Mission-Critical Platform for regulated Enterprises in 4 key verticals, addressing industry-specific needs to generate business impact Where: Industry verticals Vertical Selected KPIs from case history -15% +20% Focus on key payment time reduction customer satisfaction increase Utilities regulated v
Slide 21: Grow in Europe focusing on 3 most attractive geographies
Scale direct presence in Europe to increase market shares on our current reference geographies (Italy, DACH) and France Geographic expansion strategy Where: Geographies Grow with market, maintaining leadership positioning in Italy Grow in Europe Conquer market shares, focusing on 3 leveraging our lo
Slide 22: How: Execution Pillars | 4 strategic objectives
How: Execution Pillars | 4 strategic objectives to guide implementation Execution Pillars Where Go to market Addressing our strategic Grow direct sales to top playgrounds regulated enterprises and Technology, Operations People and culture scale Partners’ business & Compliance • 3 Segments • 4 Indust
Slide 23: 3 areas of action to expand commercial reach
G O - T O - M A R K E T 3 areas of action to expand commercial reach leveraging our geographical footprint in key European markets 01 02 03 Sales Excellence Partners Program Marketing Plan — Commercial enablement program — Tech Partner ecosystems – both — Programmatic Account Based to maximize sales
Slide 24: 4 key areas of advantage to defend and develop
P L AT F O R M 4 key areas of advantage to defend and develop Guided by Doxee Platform® Ontology & Agentic Architecture 01 02 03 04 Agentic & Enterprise Adjacent markets Any-Prem, Sovereign Platform and Architecture capabilities Platform Ecosystem — Platform evolution from — Development of CXM / — A
Slide 25: 3 moats of our positioning
T E C H N O L O G Y , O P E R AT I O N S AN D C O M P L I AN C E 3 moats of our positioning leveraging our initial advantage in terms of compliance, sovereignty and operating model flexibility 01 02 03 Regulatory compliant Enterprise-grade Operating Model Flexibility Platform by design Proprietary I
Slide 26: 5 levers to develop Doxee One-Company, elevated by AI
P E O P L E AN D C U L T U R E 5 levers to develop Doxee One-Company, elevated by AI from talent acquisition to organizational rationalization — anchored on a one-team culture 01 Talent Acquisition & Management 02 Performance & Total Rewards — AI talents management — Attractive short & Long-Term inc
Slide 27: 2026-2028 Business Plan
4 2026-2028 Business Plan doxee
Slide 28: Top Line | +10-14% Revenues CAGR in 2025-2028 driven by ARR
Top Line | +10-14% Revenues CAGR in 2025-2028 driven by ARR Direct Revenues by line (M€) ARR Revenues by Geography (M€) Key Drivers 2025-2028 CAGR 10-14% 2025-2028 CAGR 13-16% • Market demand growing 10-17% sustained by 41.8 - 46.1 32.4 - 34.9 users, tech. and regulatory trends 32.0 - 33.5 24.5 - 25
Slide 29: 2026-2028 Key Financial Targets
2026-2028 Key Financial Targets REVENUES 2025-2028 CAGR 10-14% EBITDA 2025-2028 CAGR 24-29% EBITDA MARGIN 41.8 - 46.1 ~18% ~19-20% ~27-28% €/million €/million 31.1 32.0 - 33.5 11.8 - 13.6 6.3 6.4 - 7.0 2025 2026E // 2028E 2025 2026E // 2028E CAPEX NET FINANCIAL DEBT €/million €/million 14.3 1212 - 1
Slide 30: Key Takeaways
5 Key Takeaways doxee
Slide 31: Key Takeaways
• >4B€ European Addressable Market growing +10-17% yoy: core CCM + adjacencies (CX&RM, Trust Services), sustained by structural trends • 2030 execution-focused strategy, with clear indication of: – Distinctive value proposition with Agentic Platform evolution at the core – Focused playgrounds: 3 seg
Slide 32: Success Cases
6 Success Cases
Slide 33: Utility & Energy – Engie Success Case
Utility & Energy – Engie Success Case Challenges Doxee Solution Results & Benefits • High customer churn in competitive market • Interactive Digital Billing Experience • 30% detailed Digital Credit engagement • Low digital adoption among older customers • Personalized Customer Engagement Journeys •
Slide 34: Telecom – TIM Success Case
Telecom – TIM Success Case Customer Care Print&Mail Email PEC Digital Archive Billing Legal Archive (Consumer & Business € Doxee Platform® eInvoicing Applications SERC/Q Payment & Collection System Integrators Email BPOs PEC Applications SMS Contracts System Integrators Email BPOs PEC Use cases mana
Slide 35: Banking – Bayern LB Success Case
Banking – Bayern LB Success Case Centralised Omnichannel CCM Platform Delivery No-code one platform for Customer Customer Communication Management (CCM) and Data Customer Experience Management (CXM) AFP JDB C Omnichannel outbound PDF/A SMTP BayernLB communication distribution Customer Core Data Syst
Slide 36: Insurance – AXA MPS Success Case
Insurance – AXA MPS Success Case Data-driven interactive video Gender-driven Avatar Dynamic scene management Conversion through calls-to-action Challenges Doxee Solution Results & Benefits • Encouraging timely policy renewals • Personalised renewal videos with dynamic data • 40,000 personalised vide
Slide 37: Public Sector – INPS Success Case
Public Sector – INPS Success Case Citizen Centralized Omnichannel Data CCM Platform Delivery No-code one platform for Customer Communication Management (CCM) and Customer Experience Management (CXM) Unemployment Beneficiaries New Retirees PRINT Income Reporting Child Allowance Job Training Omnichann
Slide 38: Disclaimer
Disclaimer This presentation contains certain forward-looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Doxee S.p.A.’s cur
Slide 39: Thank you.
Thank you. doxee