Slide 1: Q2 2025 report
Q2 2025 report AUGUST 26TH, 2025
Slide 2: Disclaimer
2 Disclaimer IMPORTANT – You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by SmartCraft ASA (the "Company") or any person on behalf of the Company, and any question-and- answer session that follows the or
Slide 3: Agenda
3 Agenda o Q2 in brief o Financials o Summary and Q&A
Slide 4: We're SmartCraft
4 We're SmartCraft Smarter digital solutions for stronger projects, better margins, and happier clients. 270 employees Norway, Sweden, Finland and the UK 180 000+ users 13 800+ construction companies that want to scale, simplify, and succeed
Slide 5: Driving profitable growth
5 Driving profitable growth Connecting people, data, and workflows so every project runs smoother and pays off Time efficiency Clear communication Safer projects Overview & control o Streamlined workflows o One source of truth o HSE & QA built-in o Live cost vs. budget o Smart scheduling & o Real-ti
Slide 6: Large total addressable market (TAM)
6 Large total addressable market (TAM) o TAM of NOK 50 billion* o ~700.000 addressable construction 10% companies 10% o ~10-15% penetration of mission critical 17% solutions o Ongoing digitalization of a digitally immature market 63% *Analysis by SmartCraft, August 2024. Calculated on basis of ARPC,
Slide 7: Q2 2025 in brief
7 Q2 2025 in brief Solid growth and stronger margins. MNOK 505 7% 29.4% MNOK 29.7 10.0% Annual Recurring Organic ARR growth Adjusted EBITDA-capex Cash flow Churn Revenue (+1p.p QoQ) (+0.2 p.p YoY) (+20% YoY) (+2.1 p.p YoY) (+9% YoY) +3,1% points +3,1% points +3,1% points +21%
Slide 8: Solid growth across the funnel
8 Solid growth across the funnel More customers, more traffic, and record-high leads in the pipeline Lead generation o 8% increase in new customers (YoY) o 22% more sales leads (YoY) o 45% more leads in pipeline (YoY) o 21% increase in web traffic (YoY) Jan Feb Mar Apr May Jun Jul Aug Sep Oc t Nov D
Slide 9: New business initiatives
New business initiatives SmartCraft Spark launched in Norway and Sweden o Strong traction with nearly 200 new paying customers. o New, in-demand features coming later in 2025 to boost ARPC and strengthen product value BIM capability launched in May o Rapid adoption: 60 users and 20 customers within
Slide 10: Digimeter survey confirm strong underlying demand
Digimeter survey confirm strong underlying demand o Released in June o Responses from over 840 construction professionals in Norway, Sweden and Finland Some highlights: o 6 out of 10 have experienced business improvements through digital tools o 87% say that digital tools are essential to their busi
Slide 11: Financials
11 |, Smartcraft Financials BETTER DIGITAL TOOLS
Slide 12: Focus on recurring revenue as basis for success
12 ARR bridge YoY, mNOK Focus on recurring revenue +7% as basis for success 463,0 32,9 8,9 0,0 504,8 o Increased growth in a challenging market o 9% growth YoY o Passing milestone of NOK 500m Q2'24 Organic Currency M&A Q2'25 growth effects o 7% organic growth o Sweden primary driver of growth ARR de
Slide 13: Organic growth heavily affected by bankruptcies and downgrades
13 Organic growth heavily affected by bankruptcies and downgrades Organic ARR growth % Churn % Downgrade % o Customer churning due to bankruptcies 24 increase by ~4-5 p.p last years 20 o Downgrades from existing customers as their 16 business activities slow down, reduces organic 13.5% ARR growth by
Slide 14: Continued growth in revenue and strong profitability
14 Continued growth in revenue and strong profitability Solid YoY revenue growth Consistently high profitability R&D capex mNOK mNOK 40 0 89.6% 95.5% 0 35 0 30 +5.7% 0 9,3 % 8,8 % 140,6 38,5 % 38,2 % 25 36,0 % 34,7 % 0 34,2 % 133,0 20 0 0 29,2 % 29,4 % 15 12,3 12,4 25,3 % 24,2 % 27,3 % 0 Acquired 10
Slide 15: Strong revenue growth in Sweden
15 Strong revenue growth in Sweden (mNOK) Sweden +3% o Continued strong growth o High sales activity generating leads 67,5 31,1 69,4 34,5 o Continued elevated level of churn and Q2'24 Q2'25 downgrades Revenue EBITDA Revenue growth o Locka non-recurring revenue last year hampering total growth o Adju
Slide 16: Continued challenging market in Norway
16 Continued challenging Norway (mNOK) market in Norway +2% o Lower growth in revenue o Negative short-term effect by the relocation 46,2 21,4 47,3 18,9 of one sales office o Growth hampered by high churn and Q2'24 Q2'25 downgrades Revenue EBITDA Revenue growth o Future growth upside in Spark based
Slide 17: Positive signals in a challenging Finnish market
17 Positive signals in a Finland (mNOK) challenging Finnish market +1% o Organic growth positive despite a downgrade from a large customer 12,5 3,6 12,7 2,7 Q2'24 Q2'25 o Positive signals Revenue EBITDA Revenue growth o More contract starts in new build sector o User activity increasing among existi
Slide 18: Solid financial position and strong cash flow
18 Solid financial position Balance sheet, Jun 30, 2025 and strong cash flow mNOK Cash and cash equivalents Deferred revenue - to support growth strategy and M&A activity Current assets Current liabilities Non-current assets Non-current liabilities Goodwill and intangible assets Equity Operating cas
Slide 19: Key focus to drive continued profitable growth
19 Medium-term financial targets Key focus to drive continued profitable growth o Passing the 500 mNOK ARR milestone o Increased organic ARR growth 15-20% Bolt on M&A o Strong sales & marketing execution keeps demand Organic growth high o New initiatives launched with significant growth potential o
Slide 20: We continue on our profitable growth journey
20 We continue on our profitable growth journey o Continue our strategy to build a great and solid company o Reduced operational risk o Consistent strong operational cash flow Make sure to follow us for the latest news!
Slide 21: SmartCraft
vllo SmartCraft e BETTER DIGITAL TOOLS