Cbrain A/s · OMXCOP:CBRAIN
Cbrain A/s — H1 2025 Earnings Presentation
38 slides from Cbrain A/s's earnings presentation, 2025
Slide 1: cBrain Investor Presentation 1 half year 2025
CBRAIN™ cBrain Investor Presentation 1 half year 2025 Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, statements regarding our business strategy, future operations, financial position, projected revenues, anticipated costs, prospects,
Slide 2: COTS software built for Government
CBRAIN© cBrain Investor Presentation 1 half year 2025 COTS (Commercial-off-the Shelf) software built for Government
Slide 3: Welcome
Welcome Numbers Strategy Executing the strategy
Slide 4: Founded in 2002 by CEO Per Tejs Knudsen
Founded in 2002 by CEO Per Tejs Knudsen Product: F2 Digital platform for government Headquarters in Copenhagen 250 employees in 9 locations Berlin, Copenhagen, Dubai, Nairobi, Lagos, Kentucky, Montana, Washington, San Francisco Partners in 6 locations Germany, Ghana, India, Kenya, Romania, USA Custo
Slide 5: cBrain advances global growth strategy, maintaining long-term focus
cBrain® advances global growth strategy, maintaining long-term focus Into the final half year of our 2023-2025 growth plan + We see standard software for government evolving into a large industry, challenging the dominance of traditional suppliers + With more than 15 years of experience, a strong pr
Slide 6: Revenue
Revenue Revenue mio DKK (rounded) One-time software licenses Software subscriptions Total software Services Total revenue Export mio DKK Export Software Subscriptions First half year revenue 1H-2024 versus 1H 2025 1H-2023 42 63 105 26 131 60 46 % 80 % 48% 1H-2024 45 65 111 28 138 52 37 % 80 % 47% 1H
Slide 7: Revenue
Revenue First half year revenue 1H-2024 versus 1H 2025 Revenue mio DKK (rounded) 1H-2023 1H-2024 1H-2025 Revenue Growth% One-time software licenses 42 45 19 -26 -58 % Software subscriptions 63 65 81 16 24% Total software 105 111 100 -11 -10 % Services 26 28 32 4 15% Total revenue 131 138 132 -7 -5 %
Slide 8: Forecast: Revenue growth 10-15%
Forecast: Revenue growth 10-15% Revenue mio DKK One-time licenses Software subscriptions Services Total 2H Estimate 2H-2024 2H-2025 Growth 24 50 112% 74 85 15% 31 32 3% 129 167 30 % CBRAIN
Slide 9: Forecast: Revenue growth 10-15%
Forecast: Revenue growth 10-15% 2H Estimate We maintain forecast for 2025 of 10-15% growth, based on: + One-time licenses of 50 mio DKK, up from 24 mio DKK in 2H-2024 + Continued growth of subscriptions of 15% Revenue mio DKK 2H-2024 2H-2025 Growth One-time licenses 24 50 112% Software subscriptions
Slide 10: Forecast: Revenue growth 10-15%
Forecast: Revenue growth 10-15% 2H Estimate Full year estimate We maintain forecast for 2025 of 10-15% growth, Revenue mio DKK 2H-2024 2H-2025 Growth 2024 2025 Growth based on: . . + One-time licenses of 50 mio DKK, up from 24 One-time licenses 24 50 112% 69 69 0% mig Bisisinieh-20e4 . . a o Softwar
Slide 11: Forecast: Revenue growth 10-15%
Forecast: Revenue growth 10-15% We maintain forecast for 2025 of 10-15% growth, 2H Estimate Full year estimate ; based on: Revenue mio DKK 2H-2024 2H-2025 Growth 2024 2025 Growth . . | + One-time licenses of 50 mio DKK, up from 24 One-time licenses 24 50 112% 69 69 0% inlo Bistsinieh2de4 . j a o Sof
Slide 12: Forecast: Revenue growth 10-15%
Forecast: Revenue growth 10-15% 2H Estimate Full year estimate We maintain forecast for 2025 of 10-15% growth, based on: + One-time licenses of 50 mio DKK, up from 24 mio DKK in 2H-2024 Revenue mio DKK 2H-2024 2H-2025 Growth 2024 2025 Growth One-time licenses 24 50 112% 69 69 0% . A a o Software sub
Slide 13: Status
12 Status What if cBrain grows less than 30% in 2H-2025? What if cBrain grows more than 30% in 2H-2025? i —+ We will not be satisfied, but it is not strategically important We will be happy, but it is not strategically important CBRAIN
Slide 14: Status
Status What if cBrain grows less than We will not be satisfied, but it is 30% in 2H-2025? not strategically important i i We will be happy, but it is not via crear grows more than strategically important Our focus is executing the COTS for government opportunity In 1H-2024, cBrain reached + EBT of D
Slide 15: Taking leadership in the fast emerging COTS for Government industry
Taking leadership in the fast emerging COTS for Government industry CBRAIN
Slide 16: Status on the 2023-2025 growth plan
15 Taking leadership in the fast emerging COTS for Government industry DKK mio Revenue EBITDA EBT 2022 Results 188 68 49 2025 Goal 350 60 Status on the 2023-2025 growth plan 2025 Growth Deviation 2025 Split Estimate 2022-2025 Goal-Estimate Revenue DKK mio Estimate revenue 299 59 % -15% One-time lice
Slide 17: Looking ahead, beyond 2025
Taking leadership in the fast emerging COTS for Government industry Looking ahead, beyond 2025 —————* + Huge industry + We have product and solid references + We are in a strong financial position What next? * Our plan
Slide 18: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: * Building our core business on large account customers (“super accounts”) * Pursue global leadership position by tar
Slide 19: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: Building our core business on large account customers (“super accounts”) + Pursue global leadership position by targe
Slide 20: The F2 Product Blueprint: Complete and fully integrated platform, built for government work
The F2 Product Blueprint: Complete and fully integrated platform, built for government work 20 Portal configuration configuration Portal Kernel Login Self- services Case processing History Register information REST API | library Comm. engine Case and process configuration Process library + Single ca
Slide 21: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: Building our core business on large account customers (“super accounts”) + Pursue global leadership position by targe
Slide 22: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: Building our core business on large account Position and messaging customers (“super accounts”) ‘ Paporicee inlet ent
Slide 23: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: Building our core business on large account Position and messaging — _ Established markets customers (“super accounts
Slide 24: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: * Building our core business on large account New markets becomes a category-defining standard + USA Position and mes
Slide 25: Taking leadership in the emerging COTS for Government industry
Taking leadership in the emerging COTS for Government industry Go-to-market Build large accounts, dominant in selected niches Our dual go-to-market strategy combines depth and focus: * Building our core business on large account Position and messaging — _ Established markets customers (“super accoun
Slide 26: Sales
Sales Paperless ministry Press releases June 6, 2025 Kenyan government has revealed plans to adopt the Danish F2 platform cBrain is pleased to share that the Kenyan Ministry of Information, Communications, and the Digital Economy has revealed plans to roll out the F2 digital platform across all gove
Slide 27: Sales
Sales Paperless ministry Press releases June 6, 2025 Kenyan government has revealed plans to adopt the Danish F2 platform cBrain is pleased to share that the Kenyan Ministry of Information, Communications, and the Digital Economy has revealed plans to roll out the F2 digital platform across all gove
Slide 28: Sales
Sales Paperless ministry June 6, 2025 Kenyan government has reve; to adopt the Danish F2 platfo cBrain is pleased to share that the Kenyal Information, Communications, and the D has revealed plans to roll out the F2 digit across all government departments, ther transitioning into paperless working e
Slide 29: Sales
Sales Some examples of existing case management tools that are being used outside the United States are: Environmental permitting + Brain“ F2 Digital Platform isa platform thatthe Danish EPA used to digitize the permitting processes for their agency. The F2 platform has also been implemented for oth
Slide 30: Sales: Established markets
Sales Established markets + Denmark * Germany ‘Company announcements March 62005 New federal heat pump grant system approves 67% of applications in minutes The Danish Energy Agency has successfully launched its ‘new digital grant management approval system for the heat pump subsidy program, deliveri
Slide 31: Sales: Established markets
Sales Established markets + Denmark + Germany March 62005 New federal heat pump grant system approves 67% of applications in minutes The Danish Energy Agency has successfully launched its new digital grant management approval system for the heat pump subsidy program, delivering fast and efficient re
Slide 32: Sales: Established markets
Sales Established markets + Denmark + Germany ‘Company announc March 62025 New federal heat pump grant system approves 67% of applications in minutes The Danish Energy Agency has successfully launched its 34 More than 75 Danish ministries and agencies Continued business in Denmark, growing by + Winn
Slide 33: Sales: Established markets
Sales Established markets + Denmark + Germany March 62005 New federal heat pump grant system approves 67% of applications in minutes y Agency has successfully launched its ment approval system for the gram, delivering fast and 35 More than 75 Danish ministries and agencies Continued business in Denm
Slide 34: Sales: New markets
Sales New markets * USA + Europe + Africa + UAE UNDP and cBrain Join Forces to Accelerate Africa's Digital Transformation 36 CBRAIN
Slide 35: Sales: New markets
Sales New markets * USA + Europe + Africa + UAE * Asia Press releases November 14, 2024 UNDP and cBrain Join Forces to Accelerate Africa's Digital Transformation The United Nations Development Programme (UNDP) and Denmark-based digital solution today signed an agreement to partner to fast-track digi
Slide 36: Partners
Partners F2-for-Partners 38 cBrain partner in Romania has won a tender to deliver a National Pension Platform New platform to support and service pensions for all citizens Replacing the old mainframe systems Built on cBrain F2 as the case management & processing foundation F2 ServiceBuilder to suppo
Slide 37: Partners
Partners F2-for-Partners 39 cBrain partner in Romania has won a tender to deliver a National Pension Platform New platform to support and service pensions for all citizens Replacing the old mainframe systems Built on cBrain F2 as the case management & processing foundation F2 ServiceBuilder to suppo
Slide 38: diet
40 diet Q