Slide 1: Q3 2025 Investor Presentation
Q3 2025 I N V E ST O R P R E S E N T A T I ON Laurinda Pang, CEO NOVEMBER 5, 2025 Jonas Dahlberg, CFO Mia Nordlander, Head of Investor Relations & Sustainability
Slide 2: Third quarter highlights
Third quarter highlights Stable organic gross Improved profitability Positioned for long-term profit growth and share buy-backs growth • Gross profit grew 5% • Gross margin increasing to • Gartner CPaaS Leader – 3rd organically, in line with 35%, +1pp year in a row previous quarter • Adjusted EBITDA
Slide 3: Development by segment
Development by segment Americas EMEA APAC 8% organic growth in gross profit – 3% organic decline in gross profit – 1% organic grows profit growth – margin increased 2pp to 35% margin declined 1pp to 32% margin declined 3pp to 38% • Network: US network voice • API: Broad based growth in • API: Strong
Slide 4: Continuing to execute on our strategy
Continuing to execute on our strategy Growth EBITDA margin Active capital reacceleration expansion allocation We are focused on profitable and We are reshaping our business to We are driving continued strong sustainable growth expand margins over time cash generation • Enterprise expansion • Product
Slide 5: Progressing on mid-term priorities for growth
Progressing on mid-term priorities for growth Enterprise Expansion Self service capabilities RCS and Email Partners and Ecosystems Number of large Self-serve products All US Tier-1 operators Partners have generated enterprise customers growing double digit YTD live with RCS for business 5% gross pro
Slide 6: Sinch is leading the transformation in conversational messaging
Sinch is leading the transformation in conversational messaging • RCS for Business message volumes have tripled year-over-year • WhatsApp Upscale launched, complementing RCS Upscale with enhanced branded and verified experiences • Clients such as Picard, Courir and Clarins were nominated for awards
Slide 7: The dual inflection point
The dual inflection point Conversational Generative messaging AI 7
Slide 8: AI-powered communications unlock new growth opportunities
AI-powered communications unlock new growth opportunities • Strong market validation as Sinch’s API- products now power leading AI-innovators across all regions • Reinforces Sinch’s position as the trusted platform for AI-driven communication • What it means for Sinch longer term – more traffic gene
Slide 9: Financials
Financials 9
Slide 10: Stable net sales development
Stable net sales development LTM Quarter Reported net sales, SEKm 28 968 10 500 29 000 28 745 28 712 10 000 28 610 28 630 28 544 9 500 28 574 28 515 28 500 9 000 • Strong FX headwind, net sales 8 500 28 053 -7% YoY 8 000 7 729 7 532 28 000 7 500 7 265 7 041 7 150 7 049 • Net sales stable organically
Slide 11: Continued gross profit growth
Continued gross profit growth LTM Quarter Reported gross profit, SEKm 9 781 2 800 9 685 9 717 9 800 9 657 9 630 9 629 2 750 9 593 9 542 9 600 2 700 9 431 2 650 2 600 2 582 0 • 5% organic growth Q3 YoY – mix 2 550 2 526 -200 shift and improved margins 2 500 contributing to overall growth 2 450 2 433
Slide 12: Continued positive margin development
Continued positive margin development Gross margin, % EBITDA margin, % EBITDA margin Adjusted EBITDA margin 36% 35% 35% 16% 14% 13% 13% 13% 13% 13% 13% 34% 12% 12% 34% 34% 34% 33% 34% 34% 12% 33% 13% 12% 11% 11% 11% 11% 11% 11% 8% 32% 4% 4% 0% 30% Q323 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25
Slide 13: Cost control supporting Adj EBITDA
Cost control supporting Adj EBITDA Adj Opex, SEKm 2 000 • Q3 organic Adj OPEX +3% YoY, -5% reported 1 483 1 579 1 519 • Disciplined cost control 1 453 1 403 1 500 • Continued synergy capture and increased cost 1 000 efficiency 500 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Adj EBITDA, SEKm 1 200 923 1 003 • St
Slide 14: Cash conversion close to guidance
Cash conversion close to guidance – Working capital impacting quarterly FCF Cash conversion – FCF/Adj EBITDA, LTM Cash flow after investments (FCF), SEKm 80% 1 000 66% 61% 734 800 60% 50% 600 523 39% 38% 40% 400 293 244 20% 200 -104 0 0% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 -2
Slide 15: Net Working Capital within normal variations
Net Working Capital within normal variations Net working capital, SEKm* • Continued negative net working capital 4 245 4 551 3 949 3 962 4 232 4 152 4 108 3 945 4 066 • Sequential reduction in payables main contributor to increase 1 055 880 1 176 1 062 899 713 634 723 795 -55 -330 -166 -323 -102 -1
Slide 16: Strong balance sheet and share buy-backs
Strong balance sheet and share buy-backs Net debt/Adjusted EBITDA R12m* • Net debt/Adj EBITDA increased to 1.4x mainly due to share repurchase • BoD resolved to activate share repurchase program authorized by 1.6 the AGM – up to 10% of outstanding 1.5 1.4 1.4 shares 1.3 • Repurchased 15.3m shares fo
Slide 17: Continuing to execute on our strategy
Continuing to execute on our strategy Growth EBITDA margin Active capital reacceleration expansion allocation We are focused on profitable and We are reshaping our business to We are driving continued strong sustainable growth expand margins over time cash generation • Enterprise expansion • Product
Slide 18: Thanks!
Thanks! For more information, contact: Mia Nordlander Head of Investor Relations & Sustainability mia.nordlander@sinch.com
Slide 19: Pioneering the way the world communicates
190,000+ 900bn+ 60+ Scalable cloud communications business interactions countries with platform for messaging, customers per year local presence voice and email Pioneering the way the world communicates SEK 28bn SEK 9.6bn SEK 3.7bn net sales in the gross profit in the Adj. EBITDA in the past 12 mont
Slide 20: Income statement
Income statement SEKm Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 2024 R12M Net sales 7,041 7,150 7,729 7,049 6,616 6,659 28,712 28,053 Cost of services sold -4,655 -4,744 -5,147 -4,641 -4,294 -4,341 -19,026 -18,424 Gross profit 2,386 2,406 2,582 2,408 2,322 2,318 9,685 9,629 Operating expenses -1,594 -1,60
Slide 21: Cash flow
Cash flow SEKm Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 2024 R12M Profit or loss before tax 21 -5,963 -333 -8 80 173 -6,235 -88 Adjustment for non-cash items 594 6,754 991 738 740 650 8,914 9,078 Income tax paid -147 -99 -45 -111 -334 -131 -348 -621 Cash flow before changes in working capital 468 692 613
Slide 22: Cash conversion
Cash conversion SEKm Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 2024 R12M Adjusted EBITDA 867 923 1,003 889 869 915 3,587 3,675 Net interest paid -130 -117 -103 -76 -73 -61 -480 -313 Paid taxes -147 -99 -45 -111 -334 -131 -348 -621 Other items -122 -14 -242 -83 24 -32 -428 -333 Cash flow before changes in