Teneo Ai Ab Class B · OMXSTO:TENEO
Teneo Ai Ab Class B — Q1 2026 Earnings Presentation
27 slides from Teneo Ai Ab Class B's earnings presentation, May 12, 2026
Slide 1: Q1 2026 Report Presentation
Q1 2026 Report Presentation Per Ottosson | CEO Fredrik Törgren | CFO Thursday, May 12, 2026
Slide 2: Presenters
Presenters Per Ottosson | CEO Has +25 years of experience from leading positions in the software and SaaS industry Most recently spent 10 years with IPSoft (Amelia) - US based vendor of enterprise AI solutions - as Chief Revenue Officer M.Sc. Business & Administration, Stockholm School of Economics
Slide 3: CEO Update Q1 2026
eneo.ai CEO Update Q1 2026
Slide 4: Slide 4
Slide 5: Taking Stock: Looking at the CAI Market
TAKING STOCK $20M $211M ARR Target at Independent IP LOOKING AT THE Current Cost Base Valuation CAI MARKET True Agentic Voice AI. Model- agnostic. Enterprise-grade. We Strategic Review built the architecture that makes AI safe, compliant, and actionable at scale.
Slide 6: From Benchmark to Production
From Benchmark to Production PERFORMANCE GAP BENCHMARK FRONTIER PRODUCTION ENTERPRISE τ-voice LLM-native Teneo deployments voice benchmarks incl. Microsoft ~67% 91% +24pp End-to-end task completion Resolution on live under realistic conditions production traffic https://sierra.ai/blog/tau-voice-benc
Slide 7: McKinsey leaked M&A data, secret organizational data
McKinsey leaked M&A data, secret organizational data ATTACK VECTOR BREACH TIMELINE SQL INJECTION LATE 2024 A vulnerability first documented in 1998 became Vulnerability window opens — SQL injection flaw present in Lilli's DB layer with write access. the weapon that shattered McKinsey's most sensitiv
Slide 8: Their answer is to bolt on what they don't have.
Their answer is to bolt on what they don't have. COMPETITIVE INTELLIGENCE · MAY 2026 OpenAI and Anthropic just committed $11.5 billion to acquire the implementation, services, and deployment muscle they lack. Teneo has been that company for a decade. WHAT THE LABS JUST ACQUIRED $11.5B Hundreds PE-Ch
Slide 9: Teneo Automated Contact Center
teneo.ai | TENEO AUTOMATED CONTACT CENTER Layer 1: Layer 2: Layer 3: Layer 4: Layer 5: END USERS OMNICHANNEL THE TENEO PLATFORM GENERATIVE BACKEND Customers Al PARTNERS SYSTEMS contact the brand ome 2 as 6} S ° 7 Contact Center Phone Contact Center Smart Handover | ===> Contact Center Connector to l
Slide 10: Sales, Patent Licensing, M&A
Sales Patent Licensing M&A Deep Discussions 200 MUSD 3 Claims Charts with a number of Ready top buyers
Slide 11: Investment in New Sales
Investment in New Sales €6.9M 53 6 Total Pipeline Open Deals Late-Stage 1. Take an average large Teneo customer: • Subscription 9900 EUR per month • 12 months = 118 800 EUR • Pipeline stage weighting example Qualified 20% 2. In pipeline, a qualified deal would have a value of 24 000 EUR. 3. 12-month
Slide 12: Patent Infringement: From Detection To Appeal
Patent Infringement: From Detection To Appeal LEGAL PROCESS Pre-suit Litigation Trial & appeal 01 02 03 04 Detection Due diligence Cease & desist File complaint Identify potentially infringing product/process Confirm ownership, validity, maintenance fees. Send formal letter. Open licensing or File i
Slide 13: Natural Language Intelligence, Multi-Agent, Analytics Patents
| PATENTED INDUSTRY LEADERSHIP Three of Nine Foundational Patents. Transformational Outcomes. US8346563B1 US9172747B2 US10489433B2 Natural Language Multi-Agent Natural Language Intelligence Orchestration Analytics Customers speak naturally in any Siloed bots—billing, support, sales— Every AI convers
Slide 14: Patent Overlap from Claims Chart
Patent Overlap from Claims Chart Key No LLM LLM LLM Patent Functionality Name Wrapper Wrapper Wrapper US8346563B1 Advanced NLI STRONG STRONG STRONG STRONG (2012) System US9172747B2 VA Networks MOD STRONG STRONG STRONG (2015) US10489433B2 NL Analytics STRONG STRONG STRONG STRONG (2019) Platform
Slide 15: Strategic Advisory Team
STRATEGIC ADVISORY TEAM Teneo.ai has engaged world-class advisors to lead its strategic review process J.P. Morgan Redeye Global Financial Advisor Nordic Financial Advisor & Certified Adviser #2 Global M&A Advisor Teneo's Certified Adviser $1.1 Trillion in deals advised (FY2025) Official advisor on
Slide 16: Strategic Review Process Progressing According to Plan
Strategic Review Process Progressing According to Plan Strong Market Interest Primary Goal: Exit Strategic review on track — high interest in Teneo AI Maximize shareholder value technology Active Industry Dialogues Debt Refinancing Initiated Engaged with key industry players, advised by JP Morgan Cu
Slide 17: Near-Term Headwinds, Strong Foundation
Q1 2026 RESULTS SUMMARY Near-Term Headwinds, Strong Foundation • Revenue impacted by loss of key customer following partner dispute — margins remain strong, confirming sound underlying business • $20M ARR capacity at current cost base; pipeline on track with longer cycles typical of enterprise AI •
Slide 18: Financials
teneo.ai Financials
Slide 19: Key Financial Highlights in Q1 2026
Key Financial Highlights in Q1 2026 Partner sales decline impacted our key metrics negatively % Recurring Revenues* Key Metrics 100% • Net sales in constant currency amounted to 12.3 MSEK (25.3), - 51% • SaaS ARR in constant currency amounted to 27.5 (74.7) MSEK, - 63% • Total ARR in constant curren
Slide 20: SaaS Business Model Growth
SAAS Business Model Growth SAAS API CALL VOLUMES SaaS API Calls Quarterly Average (million) 60 61 53 55 45 41 31 23 24 17 18 18 19 11 13 9 0 0 1 2 4 Q1 ´21 Q2 ´21 Q3 ´21 Q4 ´21 Q1 ´22 Q2 ´22 Q3 ´22 Q4 ´22 Q1 ´23 Q2 ´23 Q3 ´23 Q4 ´23 Q1 ´24 Q2 ´24 Q3 ´24 Q4 ´24 Q1 ´25 Q2 ´25 Q3 ´25 Q4 ´25 Q1 ´26
Slide 21: ARR Development Constant Currency
ARR Development Constant Currency Strong SEK impacted our USD revenues SaaS and Total ARR Quarterly Average (MSEK) Constant Currency 103 101 90 89 86 74 75 75 76 70 72 68 62 60 56 55 47 44 39 37 37 27 29 28 28 25 25 25 23 25 19 20 20 21 15 16 12 6 8 1 3 1 Q1´ 21 Q2´ 21 Q3´ 21 Q4´ 21 Q1´ 22 Q2´ 22 Q3
Slide 22: Gross Margin Development
Gross Margin Development +80% Gross Margin 88% 88% 87% 87% 86% 86% 85% 85% 79% 80% Q1 ´25 Q2 ´25 Q3 ´25 Q4 ´25 Q1 ´26 GM Inc. Commissions GM Exc. Commissions
Slide 23: OPEX Run Rate Q1 2026
OPEX Run Rate Q1 2026 Annual OPEX Run Rate* MSEK 117 • Monthly OPEX(*) in Q1 2026 of 9.0 MSEK • OPEX(*) run rate of 108 MSEK in Q1 2026 • Continued cost control and we will 108 during upcoming quarters 2026 continue to carefully steer investments in sales and marketing activities Q1´ 25 Q1´ 26 * OPE
Slide 24: Cash Position & Financing
Cash Position & Financing CASH ADJUSTED Cash Position Mar 31, 2026. Adjusted 29 MSEK • On March 31, 2026, cash and bank position amounted to 22 MSEK 7 • Cash received from collected Accounts Receivables in Q2 2026 amounted to 7.4 MSEK • Adjusted cash & bank approximately 29 MSEK 22 on March 31, 2026
Slide 25: Near-Term Headwinds, Strong Foundation
Q1 2026 RESULTS SUMMARY Near-Term Headwinds, Strong Foundation • Revenue impacted by loss of key customer following partner dispute — margins remain strong, confirming sound underlying business • $20M ARR capacity at current cost base; pipeline on track with longer cycles typical of enterprise AI •
Slide 26: teneo.ai
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Slide 27: Thank You!
Thank You! Per Ottosson | CEO Fredrik Törgren | CFO