Pexip Holding Asa · OSL:PEXIP
Pexip Holding Asa — Pexip Hldg — Q2 2025 Earnings Presentation
30 slides from Pexip Holding Asa's earnings presentation, Aug 14, 2025
Slide 1: Quarterly Presentation Q2 2025
Quarterly Presentation Q2 2025 August 14th, 2025
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 specialist video conferencing player
Software only specialist video conferencing player Serving large enterprises and public sector organizations Strong financial performance 119.0m ARR USD EoQ2 11% ARR growth Y-o-y Unique partnerships with the technology leaders in our industry 92% Gross margin LTM margin +7p.p EBITDA expansion1 LTM m
Slide 4: Q2 2025 highlights
Q2 2025 highlights • Continued improved ARR, revenue and EBITDA growth +3.5m MUSD 119.0 EoQ2 ARR Q-o-Q • Continued strong growth in Secure & Custom 57.3 • Continued strong performance from Connect for Zoom in Connected Spaces Adj. EBITDA1 Q2 2025 MNOK 276 LTM • Increased public awareness around need
Slide 5: Continued growth and further improved profitability
Continued growth and further improved profitability Total ARR Adjusted EBITDA1 Free Cash flow2 USDm NOKm, Last twelve months NOKm, Last twelve months +2.4 +3.5 +2.5 +3.5 115.5 119.0 315 109.5 113.1 276 107.1 255 (23%) 281 (22%) 207 178 (18%) 209 170 191 196 (16%) (17%) Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2
Slide 6: Pexip's two business areas
Pexip’s two business areas Pexip Secure & Custom Spaces 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 tog
Slide 7: Pexip Secure Meetings caters to customers with specific security & privacy requirements
SECURE AND CUSTOM SPACES Pexip Secure Meetings caters to customers with specific security & privacy requirements Global SaaS Self-hosted Services Secure Meeting User Integrated authentication Chat Secure Meetings are easily scheduled in Outlook Deployment flexibility and Data Control 7
Slide 8: Secure Meetings positioning | Key industries
Secure Meetings positioning | Key industries Defense Increased focus on the core industries with & National the strongest Pexip value proposition Security Government Strongest Secure Meetings growth in Defense and Government Healthcare Healthcare, regulated industries and Regulated industries / Ente
Slide 9: Government organizations are adopting Secure Meetings for their classified communications
Government organizations are adopting Secure Meetings for their classified communications Top 5 contracts in Q2 2025 outside Defense and Healthcare with $1.3 million in ARR Key drivers • 3 year Secure Meetings + Chat contract with European civilian agency Require data Sovereignty, control & complian
Slide 10: Our vision is to connect any meeting room to any meeting is becoming reality
CONNECTED SPACES Our vision is to connect any meeting room to any meeting is becoming reality Rooms Meeting Rooms Meeting Rooms Meeting Rooms Meeting SIP end- points rooms meetings 10
Slide 11: Positive development on roadmaps and commercial partnerships in Connected Spaces
Positive development on roadmaps and commercial partnerships in Connected Spaces Product roadmap Partnerships • Joint Google/Pexip development to support • Have renewed a long-term commercial agreement interoperability for Google Meet Hardware with a key partner, adding an additional three years to
Slide 12: Sales update
Sales update 12
Slide 13: Secure and Custom Spaces
Secure and Custom Spaces +2.6m ARR change Q-o-Q USD Key wins in Defence with a European defence force Continued increase in public awareness on 50.6m ARR USD End of Q2 2025 need for sovereign IT in Europe Good progress in healthcare with 5 wins above 27% Y-o-Y growth USD 200 thousand, and adding USD
Slide 14: 2024 Q2 win - European Ministry of Defence
SECURE AND CUSTOM SPACES 2024 Q2 win - European Ministry of Defence USE CASE PRODUCT Mission partner video Pexip Secure Meetings WHY PEXIP NATO approved Meeting the strict NATO standards for cross- networking and policy controls (FMN) Mission readiness Flexibility of deployment to run on any cloud o
Slide 15: 2024 Q2 win - One of the worlds largest hospital groups
SECURE AND CUSTOM SPACES 2024 Q2 win - One of the worlds largest hospital groups USE CASE PRODUCT Video enabled contact center Pexip Secure Meetings WHY PEXIP Versatile technology integration Enabling deep customization Personalized end-to-end experience Providing patients with an easy to use, high-
Slide 16: Connected Spaces
Connected Spaces Increased ARR from solid new sales +0.9m ARR change Q-o-Q USD and improved revenue retention across existing customers compared to Q2 2024 Continued strong momentum on native 68.4m ARR USD rooms, especially with new Connect for End of Q2 2025 Zoom Rooms product. Native Rooms now mak
Slide 17: 2024 Q2 win - Global consulting firm
CONNECTED SPACES 2024 Q2 win - Global consulting firm PRODUCT USE CASE Pexip Connect for Zoom Join any client meeting on any platform Pexip Connect for Microsoft WHY PEXIP Platform freedom No vendor lock-in Consistent user experience Across meeting rooms and meeting platforms Easy to operate and sup
Slide 18: Financial update
Financial update 18
Slide 19: Subscription-based revenue model with ARR base at USD 119m in Q2 2025
Subscription-based revenue model with ARR base at USD 119m in Q2 2025 ARR ARR split USDm USDm Secure & Custom Defense and Aerospace Connected Spaces IT 7% Government +11% 7% 119.0 25% 113.1 115.5 107.1 109.5 Enterprise 19% 44.9 47.9 50.6 +27% 39.7 41.0 21% 20% Regulated industries Healthcare APAC 9%
Slide 20: Strong growth in Secure & Custom
Strong growth in Secure & Custom USD million, quarter-over-quarter Connected spaces Secure and Custom 4.1% -0.3% -2.6% 1.3% 5.2% 0.7% -0.4% 5.5% 67.6 68.4 2.8 0.2 1.7 Quarterly net retention 47.9 0.2 50.6 2.5 0.3 of 97% Quarterly net retention of 100% Q1 2025 New Net Upsell Churn Q2 2025 Q1 2025 New
Slide 21: 6% revenue growth and 59% EBITDA growth in Q2
6% revenue growth and 59% EBITDA growth in Q2 Revenue EBITDA1 NOK million NOK million (margin) SaaS Quarterly revenue increase of 6% y-o-y Software +59% (13% YTD) 6% 57 281 (20%) – 11% growth on Software as a Service, 266 36 1% growth on Software which was Quarterly 135 149 (14%) impacted by softwar
Slide 22: Revenue growth of NOK 16 million resulting in EBITDA growth of NOK 21 million
Revenue growth of NOK 16 million resulting in EBITDA growth of NOK 21 million Revenue and gross margin EBITDA excl. other gains and losses NOK million NOK million +16 +21 281 (6 p.p.) 266 57 19 COGS 27 (20%) 36 (14%) 262 Gross 239 (93%) margin (90%) Q2 2024 Q2 2025 Q2 2024 Q2 2025 Continue to mainta
Slide 23: Stable year-on-year expenses
Stable year-on-year expenses Quarterly OPEX development NOK million Salary and personnel expenses 218.1 NOK 5 million lower Salary and personnel 200.7 202.5 206.7 205.2 expenses, of which NOK 3 is from lower 185.6 40.5 fixed salaries and NOK 2 million from higher 39.1 38.7 38.0 39.9 34.6 12.2 capita
Slide 24: NOK 318 million in cash distributed to shareholders in Q2 2025
NOK 318 million in cash distributed to shareholders in Q2 2025 Cash flow bridge Q2 2025 NOK million 863 830 46 10 5 32 • Distributed cash to shareholders through dividend and share buyback 260 – Remaining NOK 42 million of share 57 544 buyback program is completed as of 1 1 this report in Q3 2025 83
Slide 25: Q2 2025 Financial results
Q2 2025 Financial results Profit and loss NOK million Q2 2025 Q2 2024 Y-o-Y • 6% increase in year-on-year revenue due to ARR Revenue increase, negative impact from stronger NOK/USD 281 266 16 exchange rate Cost of goods sold 19 27 -8 Gross Profit • COGS reduction driven by one-time rebates from clou
Slide 26: Outlook and targets
Outlook targets Jpexip[
Slide 27: Outlook
Outlook • Continued positive market outlook across the business areas driven by market trends Near-term targets • Need for private video meeting platforms Consistently deliver: • Custom video work-flows are growing • Interoperability is highly relevant • Above 10% ARR growth • Above 20% EBITDA1 • Ou
Slide 28: Upcoming dates
Upcoming dates Q3 2025 Quarterly Presentation November 7th, 2025 28
Slide 29: Q&A
Q&A Investor.pexip.com
Slide 30: Backup: Summary of key figures
Backup: Summary of key figures KPI Unit Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Y-o-y Q-o-Q Comments Q2 2025 ARR Connected Spaces MUSD 67.4 68.6 68.1 67.6 68.4 1.0 0.9 ARR Secure & Custom MUSD 39.7 41.0 44.9 47.9 50.6 10.9 2.6 • Delta ARR of 3.5 MUSD, driven by good growth in Total MUSD 107.1 109.5