Pexip Holding Asa · OSL:PEXIP
Pexip Holding Asa — Pexip Hldg — Q1 2026 Earnings Presentation
28 slides from Pexip Holding Asa's earnings presentation, May 5, 2026
Slide 1: Quarterly Presentation Q1 2026
Quarterly Presentation Q1 2026 May 5th, 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer These materials have been produced by Pexip Holding ASA (the "Company“, and with subsidiaries the “Group”). The materials have been prepared for the exclusive use of persons attending an oral briefing and meeting to which these materials relate given by a representati
Slide 3: Software only video conferencing specialist
Software only video conferencing specialist Serving large enterprises and public sector organizations Strong financial performance 135m ARR USD EoQ1 17% ARR growth Y-o-y Unique partnerships with the technology leaders in our industry 92% Gross margin LTM margin 30% EBITDA margin LTM margin 3 1 Cash
Slide 4: Q1 2026 highlights
Q1 2026 highlights +4.0 MUSD 135 End Q1 ARR Q-o-Q • Continued strong growth in Secure & Custom with USD 2.9 million, with Defense and National Security customers growing USD 1.3 million • Solid progress with Native Rooms driving 18.7 MUSD, 46% margin Adj. EBITDA1 Q1 2026 growth in Connected Spaces 1
Slide 5: Continued growth and further improved profitability
Continued growth and further improved profitability Total ARR Adjusted EBITDA1 Free Cash flow2 USDm USDm, Last twelve months USDm, Last twelve months +68% +17% +14% 38.8 135.0 (30%) 32.5 131.0 31.2 119.0 122.2 115.5 30.2 28.6 28.8 (26%) 26.7 25.2 (25%) 24.7 23.0 (23%) (21%) Q1’25 Q2’25 Q3’25 Q4’25 Q
Slide 6: Pexip’s two business areas
Pexip’s two business areas Pexip Secure & Custom Pexip Connected Spaces Video meetings that are self-hosted on-premises Video meeting room interoperability or in a private cloud When complete privacy and control When several video technologies need over data is required to work seamlessly together 6
Slide 7: Secure & Custom market opportunity
SECURE AND CUSTOM SPACES Secure & Custom market opportunity Features A niche market with high growth potential Rich • Data sovereignty increasingly relevant, particularly in Europe • Significant investments being made in building sovereign IT infrastructure and solutions in many countries • Pexip ha
Slide 8: European tech sovereignty is moving from aspiration to mandate
SECURE AND CUSTOM SPACES European tech sovereignty is moving from aspiration to mandate Market €1.5T 83% 65% backdrop European tech spend in 2026 Sovereign cloud growth EU cloud from 3 providers • French-German Digital Sovereignty Summit (Nov 2025) launched a joint task force; EU Council Declaration
Slide 9: Pexip has clear competitive advantages in the European market for Sovereign solutions
SECURE AND CUSTOM SPACES Pexip has clear competitive advantages in the European market for Sovereign solutions Flexible deployment in European corporate 3 Flexible and open Modern user 1 2 4 cloud or on-premises DNA integrations experience Global SaaS Services Self-hosted Secure Meeting Private AI U
Slide 10: We provide seamless “any-to-any” video
We provide seamless “any-to-any” video NOW coming to Android 10
Slide 11: Expect to have Connect for Microsoft Teams Rooms available on all platforms in Q2 2026
Expect to have Connect for Microsoft Teams Rooms available on all platforms in Q2 2026 Connect for Microsoft Teams Rooms • Enables Microsoft Teams Rooms to join 3rd party meetings Confirmed availability across platforms from June • Currently available on MTRs on Windows Increasing opportunity • Micr
Slide 12: Good results from using AI in Pexip’s products and organization
Good results from using AI in Pexip’s products and organization AI in our products AI in our organization • Have enabled Live Captions (speech-to-text) and Live • Enabled software developers with AI agents to increase Translated Captions for multilingual collaboration speed • Working to enable trans
Slide 13: Sales update
Sales update 13
Slide 14: Secure and Custom Spaces and Connected Spaces ARR
Secure and Custom Spaces Connected Spaces +2.9m ARR change Q-o-Q USD +1.1m ARR change Q-o-Q USD 59.3m ARR USD End of Q1 2026 75.8m ARR USD End of Q1 2026 24% Y-o-Y growth Q1 2026 12% Y-o-Y growth Q1 2026 14
Slide 15: Key Wins in Q1 2026 (1/2)
Key Wins in Q1 2026 (1/2) Accelerated focus on Sovereign Healthcare drives growth solutions and data control • Large win: A large Canadian healthcare • Large win: A European State IT provider provider entered into a three-year doubled its Pexip deployment across contract for Pexip Secure Meetings Se
Slide 16: Key Wins in Q1 2026 (2/2)
Key Wins in Q1 2026 (2/2) Unique position in highly Solving highly relevant classified and mission-critical interoperability challenges in environments enterprise and public sector • Large win: A European Ministry of Defense increased its deployment of Pexip • Large win: One of the world largest for
Slide 17: Financial update
Financial update 17
Slide 18: Subscription-based revenue model with ARR base at USD 135m in Q1 2026
Subscription-based revenue model with ARR base at USD 135m in Q1 2026 ARR ARR split USD million USD million Secure & Custom Connected Spaces Defense and national security 13% Enterprise +17% 28% 135.0 131.0 Healthcare 18% 122.2 119.0 115.5 59.3 +24% +25% 56.3 50.6 53.4 18% 23% 47.9 Government Regula
Slide 19: Overall net retention above 100% in Q1 2026
Overall net retention above 100% in Q1 2026 USD million, quarter-over-quarter Connected spaces Secure and Custom 74.7 0.3 75.8 2.8 2.0 Quarterly net retention of 98% 59.3 56.3 2.5 0.3 0.8 Quarterly net retention of 104% Q4 2025 New Net Upsell Churn Q1 2026 Q4 2025 New Net Upsell Churn Q1 2026 Custom
Slide 20: LTM 18% revenue growth and 30% EBITDA margin
LTM 18% revenue growth and 30% EBITDA margin Revenue EBITDA1 USD million USD million (margin) SaaS Software +85% 30% Quarterly revenue increase of 30% y-o-y 19 41 (46%) – Software revenue growth of 38% y-o-y 31 10 16 – SaaS revenue growth of 19% y-o-y 13 (32%) Quarterly LTM revenue growth of 18% in
Slide 21: Stable level of expenses
Stable level of expenses Quarterly OPEX development USD million Salary and personnel expenses 21.1 USD 1.5 million increased salary and 20.0 18.8 personnel costs, impacted by USD/NOK 18.7 18.4 3.7 3.9 currency fluctuations 3.4 4.4 3.8 2.1 Reversal of social security accruals driving 1.5 1.5 1.1 nega
Slide 22: 93% incremental revenue to EBITDA conversion in Q1’26
93% incremental revenue to EBITDA conversion in Q1’26 increasing quarterly EBITDA margin from 32% to 46% Revenue and gross margin EBITDA excl. other gains and losses USD million USD million +9.3 41 +8.6 3 19 (46%) 31 COGS 3 10 38 (32%) (92%) Gross 29 margin (92%) Q1’25 Q1’26 Q1’25 Q1’26 Continue to
Slide 23: $20 million free cash flow in Q1 2026
$20 million free cash flow in Q1 2026 Cash flow bridge Q1 2026 USD million • USD 20 million in free cash flow, up 7% year on year, despite less favorable working capital development – Working capital development adding 81 USD 2.4 million compared to USD 10.5 79 1 0 0 1 million last year 21 20 60 • H
Slide 24: Q1 2026 Financial results
Q1 2026 Financial results Profit and loss USD million Q1'26 Q1'25 Y-o-Y • Strong growth in Software revenues driving revenue growth of 30% Revenue 40.7 31.4 9.3 – LTM increase of 18% in line with ARR growth Cost of goods sold 3.3 2.6 0.6 Gross Profit • Stable COGS-margin with increased SaaS usage 37
Slide 25: Outlook and targets
Outlook and targets 25
Slide 26: Outlook
Outlook • Continued positive market outlook across the business areas driven by market trends • Need for sovereign control of data and IT platforms Financial ambition • Use of custom video work-flows is growing Consistently deliver: • Interoperability is highly relevant • Double-digit ARR growth • A
Slide 27: Upcoming dates
Upcoming dates Q2 2026 Quarterly Presentation August 13th, 2026 27
Slide 28: Q&A
Q&A Investor.pexip.com ipexip[