Exasol Ag · XETR:EXL
Exasol — Q1 2026 Earnings Presentation
23 slides from Exasol's earnings presentation, May 7, 2026
Slide 1: Investor Call – Audited FY 2025 & Q1 2026
Investor Call – Audited FY 2025 & Q1 2026 Jörg Tewes (CEO), Jan-Dirk Henrich (CFO) W e bc a s t – 7 M a y 2 02 6 Exasol - Internal
Slide 2: Topics for today
Topics for today Jörg Tewes, CEO Jan-Dirk Henrich, CFO 2 Exasol - Internal
Slide 3: Disclaimer
Disclaimer This presentation contains future-oriented, forward-looking statements (“Forward- looking Statements”), estimates, opinions, projections and forecasts representing the current assessments and views with respect to anticipated future performance of Exasol AG. These assessments, views and F
Slide 4: Business Update Q1 2026
Business Update Q1 2026 Exasol - Internal
Slide 5: Summary Current Trading Q1 2026
Summary Current Trading Q1 2026 Revenue: ARR total: • Y-o-Y Revenue and EBITDA development driven by non-recurring revenue items in 2025 9.5m EUR 37.8m EUR and phasing effects (Q1 2025: 12.4m EUR) (-3.5% yoy) • Q1 2025 included non-recurring revenue items of 2.9m EUR; recurring revenue in Q1 2026 st
Slide 6: Business Development Activities Q1 2026
Business Development Activities Q1 2026 Pipeline generation progressing as planned; on track for H2 conversion and ARR acceleration • High profile Xperience event in Berlin held with focus on Data Sovereignty and AI; very promising follow-on feedback and opportunity generation with potential custome
Slide 7: “Sovereign AI” is emerging as the logical next evolution for our product
“Sovereign AI” is emerging as the logical next evolution for our product Deployment type On-prem Own-cloud Hybrid SaaS Data Comprehensive Warehousing strategy deep- Continue to pursue growth with core dive for offering to customers in focus-industries Analytics investors in Acceleration Capital Use
Slide 8: Financial Results FY 2025 Audited
Financial Results FY 2025 Audited Copyright © 2025 Exasol. All rights reserved. Exasol - Internal
Slide 9: Results 2025 FY – Preliminary vs Audited
Results 2025 FY – Preliminary vs Audited In EUR million, in percent FY 2025 FY 2025 FY 2025 FY 2024 audited preliminary Δ audited audited Δ Revenue 41.8 41.8 0.0 41.8 39.6 2.2 thereof recurring 37.7 37.7 0.0 37.7 39.1 -1.4 thereof non-recurring 4.1 4.1 0.0 4.1 0.5 3.6 Gross Profit 38,3* 38.3* 0.0 38
Slide 10: Starting ARR 2026 adjusted for average FX rates Q4 2025
Starting ARR 2026 adjusted for average FX rates Q4 2025 ARR in mEUR, in percent -3.4 (-8.0%) Comments 5.4 5.2 • Gross upsell rate at 113% (vs. 116% in PY) 42.5 1.4 5.0 • Net ARR retention rate at 89% 39.1 (vs. 101% in PY) 0.7 38.4 • ARR churn rate at 24% (vs. 15% in PY) ARR 2024 EoP New Upsell Downs
Slide 11: Trading update Q1 2026
Trading update Q1 2026 Exasol - Internal
Slide 12: Q1 marked by still slow new biz but markedly lower churn dynamic
Q1 marked by still slow new biz but markedly lower churn dynamic – Growth acceleration expected in H2 ARR in mEUR, at const. FX and methodology, in percent, # of customers 41.7 Comments 2.5 38.4 • Markedly lower churn dynamic in 1.1 0.3 0.0 0.6 37.8 Q1 compared to prior year • New focus-vertical cus
Slide 13: Q1 new biz still marked by conversion delays on similar level as in 2025
Q1 new biz still marked by conversion delays on on similar level as in 2025 – better-than expected churn compensating In EUR million, in percent Q1 2026 Q1 2025 -2.51 (-6%) 41.7 0.7 0.0 2.9 -0.59 0.3 39.2 (-2%) 38.4 0.5 0.7 0.1 0.4 37.8 6 new Thereof 70% customers, from focus- thereof 4 in verticals
Slide 14: ARR bridge Q1 2025 – Improvement in y-o-y growth dynamic driven by recovery in churn rate
ARR bridge Q1 2025 – Improvement in y-o-y growth dynamic driven by recovery in churn rate ARR in mEUR, at const. FX and methodology, in percent, # of customers 2026 figures are preliminary and unaudited Focus and Non-Focus Verticals -1.4 (-3.5%) • Gross upsell rate at 113% (vs. 113% in previous quar
Slide 15: 12-month rolling churn-rate gradually declining since peak in Q2 2025
12-month rolling churn-rate gradually declining since peak in Q2 2025 – further significant drop expected in Q2 2026 EoP value, in percent of ARR 12 months before 27 -7 25 24 LTM Churn rate 20 19 = Total 15 15 15 business 10-15 lost in LTM 11 vs. 9 Total 8 6 7 business 12 months ago 23Q1 23Q2 23Q3 2
Slide 16: Share of focus-verticals stable at 70% - Y-o-y focus vertical growth at 9%
Share of focus-verticals stable at 70% - Y-o-y focus vertical growth at 9% ARR in mEUR, at const. FX, in percent of total 2026 figures are preliminary and unaudited -3.5% 28.9 38.4 37.8 39.1 37.8 100% Focus 11.5 Verticals (40%) 23.9 26.2 26.0 26.0 (68%) (69%) (61%) (69%) +9% Non-Focus 17.4 Verticals
Slide 17: Sustained path of profitability on EBITDA and Net Income level
Sustained path of profitability on EBITDA and Net Income level In mEUR 2026 2025 2026 figures are preliminary and unaudited Q1 2026 Q1 2025 Change ytd ytd Change Revenue 9.5 12.4 -2.9 9.5 12.4 -2.9 - thereof recurring revenue 9.5 9.5 - 9.5 9.5 - - thereof non-recurring revenue 0.0 2.9 -2.9 0.0 2.9 -
Slide 18: Liquid funds (net cash) at 24.7m EUR as of end Q1 2026
Liquid funds (net cash) at 24.7m EUR as of end Q1 2026 Liquid Funds* in mEUR +1.5 +3.7 +1.7 +0.6 24.7 23.2 18.7 15.0 12.7 13.3 End 2022 End 2023 End 2024 End 2025 Q1 2025 Q1 2026 * incl. short- & long-term financial assets 18
Slide 19: Outlook & Summary 2026
Outlook & Summary 2026 Exasol - Internal
Slide 20: Financial Outlook 2026 (unchanged)
Financial Outlook 2026 (unchanged) In mEUR, in percent 2025 (actuals) 2026 (guidance) Growth in mid-single-digit ARR growth -8.0% percentage range Decline in mid-single- Revenue Growth +5.7% digit percentage range EBITDA 4.1m€ 3.0 – 4.0m€ 20
Slide 21: Financial Calendar 2026
Financial Calendar 2026 February 3 FY ‘25 preliminary results (Webcast) February 4 HIT Conference (Hamburg) March 19 Annual Report 2025 May 7 FY ‘25 final results & Q1 ‘26 trading update (Webcast) May 11/12 Spring Conference (Frankfurt) June 11 Annual General Meeting (virtual) 2026 August 19 H1 ‘24
Slide 22: Key takeaways
Key takeaways • Y-o-Y ARR performance improved (–3.5% vs -8.5%) but impacted by continued pipeline conversion-delays – partially driven by exceptional price inflation in hardware; delays further in play, conversion expected • 12-months rolling ARR churn-rate continued to decline in Q1 2026 for 3rd c
Slide 23: Thank you! Q&A Session
Thank you! Q&A Session Exasol - Internal