Cyviz As · OSL:CYVIZ
Cyviz As — Q3 2025 Earnings Presentation
19 slides from Cyviz As's earnings presentation, November 2025
Slide 1: Q3 2025 Financial Results
Q3 2025 Financial Results Cyviz AS
Slide 2: Agenda and Presenters
Agenda and Presenters Q3’25 in brief Performance 2020 – 2025 Business Highlights Espen Gylvik | CEO Q3 Financials Outlook Q&A Karl Peter Gombrii | CFO Q3 2025 2
Slide 3: Solid order intake and strong ARR growth in Q3
Solid order intake and strong ARR growth in Q3 Revenue reflects lower order intake earlier in the year Q3-25 in brief Order intake of NOK Annual Recurring Gross profit of NOK 69 EBITDA of NOK 2.3 Revenue of NOK 95 243 million, up 50 Revenue (ARR) NOK million (73% margin), million, down NOK 6.8 milli
Slide 4: Cyviz Group Performance 2020-2025 (12-month rolling)
PERFORMANCE 2020-2025 (12-MONTH ROLLING) CAGR vs Q4 2020 (LTM) ORDER REVENUE GROSS Cyviz Group INTAKE PROFIT 32% 22% 26% ORDER INTAKE (MNOK) GROSS PROFIT (MNOK) EBITDA (MNOK) 0% -15% -43% 315 775 306 313 315 307 37 36 36 289 295 32 710 280 282 286 30 30 676 28 28 626 632 642 641 659 25 620 257 589 6
Slide 5: Order intake pattern
Order intake pattern ▪ “Underlying” order intake at all-time-high in Q3-2025 ▪ Backlog is solid at NOK 428 million – the second highest on record ▪ Q4-2023 order intake includes a NOK 200 million multi-year deal Reported order intake “Underlying” order intake (ex. Aker BP) Backlog +16% 336 243 476 4
Slide 6: Annual Recurring Revenue (ARR) up 38% YTD
Annual Recurring Revenue (ARR) up 38% YTD ▪ Increase from NOK 48.9 million at the beginning of 2025, in absolute terms primarily driven by multi-year support agreements Q3 ARR MNOK 67.5 ▪ Recurring SaaS revenue up >50% since the beginning of 2025 ▪ The two largest global accounts in the process of m
Slide 7: Partner Status
Partner Status Selected partner logos: Cyviz Core Technology ▪ 15 partners signed ▪ Three tailored partner packages launched (Small, Medium & Large solutions) ▪ Actively building partner pipeline Software Management Platform SW Partner distribution: ▪ 24 partners signed ▪ Advanced discussions and tr
Slide 8: Positive gross margin trend
Positive gross margin trend • Underlying trend driven by larger projects with repeat accounts, and ARR • Gross profit fluctuates due to product mix and timing effects impacting quarterly performance • Gross margin 2024 and YTD 2025 is above average trend over time – reversal anticipated 75% 200 70%
Slide 9: Business Highlights
Business Highlights Q3 2025 9
Slide 10: Business Highlights Q3 2025
Business Highlights Q3 2025 Key Energy Deal Large Defense Deals, Europe Government Project, Saudi Accenture, Qatar NOK 140m Cyviz remains a trusted partner for Cyviz has been entrusted by a Accenture and Cyviz’ partnership Cyviz has been chosen by a very a European defense customer’s prestigious gov
Slide 11: Business Highlights YTD
Business Highlights YTD ORDER INTAKE BY VERTICALS ORDER INTAKE BY REGION Other Corporate Government MEAP 2% Technology 7% 5% 18% 11% Defense 19% North America 45% 37% 56% Europe Energy MEAP = Middle East & Asia Pacific Q3 2025 11
Slide 12: Q3 Financials
Q3 Financials Q3 2025 12
Slide 13: Q3 Financial highlights
(all figures in NOK million) -41% Revenues Q3 Financial 189 168 160 139 136 129 • NOK 95 million in Q3 (-41% YoY) 120 107 95 • Rolling 12-month trend at NOK 550 highlights million vs. NOK 574 million last year (-4%) REVENUES Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 -10% Gross profit 96
Slide 14: YTD Financial highlights
(all figures in NOK million) -11% Revenues YTD Financial 417 406 360 306 • NOK 360 million YTD (-11% YoY) 223 highlights REVENUES YTD/Q3-21 YTD/Q3-22 YTD/Q3-23 YTD/Q3-24 YTD/Q3-25 -3% 218 212 Gross profit 201 • NOK 212 YTD (-3% YoY) 139 96 GROSS PROFIT YTD/Q3-21 YTD/Q3-22 YTD/Q3-23 YTD/Q3-24 YTD/Q3-
Slide 15: Operating cash flow
Operating Q3 Key drivers Q3 cash flow -3.1 • Pre-tax loss driven by revenue level in Q3 6.1 45.1 2.6 • A significant positive change in receivables -27.9 (AR) due to payments from customers • Change in payables (AP) reflects increased payments to suppliers -2.6 69.9 Profit/loss ∆ Accounts ∆ Inventor
Slide 16: Outlook
Outlook Q3 2025 16
Slide 17: Profitable growth driven by growing core business, new products and services, and cost optimization
Outlook Profitable growth driven by growing core business, new products and services, and cost optimization Profitable growth & cash management 1 Continues focus on profitability through cost optimization, new services, and continued revenue growth. Putting new tighter processes in place for collect
Slide 18: Q&A
Q&A Q3 2025 18
Slide 19: Aker Security Video Case Study
Aker Security Video Case Study Q3 2025 19