Cm.com N.v.EURONEXT: CMCOM

Q1 2024 Trading Update

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‌CM.com grows revenue 9% YoY and hits record EBITDA with 50% YoY growth

Breda, the Netherlands, April 16, 2026 - Today, CM.com publishes its 2026 first-qutrter results

Financial Highlights Qfi 2026
  • EBITDA € 5.9 million, up 50% year-on-year

  • Revenue € 67.3 million, up 9% year-on-year

  • Gross profit € 20.1 million, a decrease of 2% year-on-year; up 4% at Constant Currencies (CC)

  • OPEX € 14.2 million, a decrease of 14% year-on-year

  • Outlook Q2 2026: Revenue and EBITDA year-on-year growth rates in line with Q1 2026

    Business Highlights Qfi 2026
  • Messaging volumes of 2.4 billion, up 39% year-on-year, leading to higher revenue

  • HALO delivered 20% quarter-on-quarter revenue growth

  • New data platform launched to analyze relational dynamics between consumers, unlocking richer context to drive deeper insights and predictive capabilities

  • Partnered with VOLT, an AI-infrastructure and supercomputing platform, to develop sovereign solutions for regulated sectors in Europe, such as defense, governments, and banks

x € million - unaudited

Q1 2026

Q1 2025

YoY %

Revenue

67.3

61.9

9%

Gross profit

20.1

20.4

(2%)

Gross margin (%)

29.8%

33.0%

OPEX

(14.2)

(16.5)

(14%)

EBITDA

5.9

3.9

50%

Net result

(1.2)

5.5

(121%)

Adjusted OPEX

(13.9)

(16.5)

(16%)

Adjusted EBITDA

6.2

3.9

59%

Adjusted EBITDA Margin (%)

9%

6%

Adjusted EBITDA CC

7.3

3.9

85%

FTE1

592

678

(13%)

TTM Gross profit / FTE (x € 1.000)

136.6

123.9

10%

Net debt

60.2

52.5

15%

Adjusted Leverage ratio2

2.7x

2.8x

(3%)

1 Full time equivalent, excluding interns, measured per end of the period.

2 Net debt divided by trailing twelve months Adjusted EBITDA

CEO Statement from Jeroen van Glabbeek

"We delivered a strong first quarter with 9% revenue growth and 50% EBITDA growth. This is a result of increased volumes in messaging and payments, further HALO adoption, and increasing operational efficiency supported by AI.

AI is globally reshaping how businesses engage with their customers. Our clients are rethinking how they operate, communicate, and serve their customers. What we offer them goes beyond technology, we enable a true business transformation. This development takes time, but we are pleased with the growth we are already seeing. Internationally our AI sales development is in its early stages. We view this as a timing matter and will leverage lessons learned from the Dutch market as we are building momentum abroad.

We reinforced our position as a European AI company with a comprehensive product portfolio addressing the growing demand for sovereign AI solutions. Our HALO platform and ISO 42001 certificttion for responsible AI, combined with our strategic partnership with VOLT, an AI-infrastructure and supercomputing platform, position us to capitalize on the growing European focus on digital sovereignty.

Our unique strength lies in combining data and AI across every channel, understanding customers in their full personal context to deliver engagement that is truly personalized and automated at a scale no standalone solution can match. Looking ahead, we remain focused on scaling our business transformation offering, and capturing the significtnt opportunity that AI-driven customer interaction represents. For the second quarter we expect similar year-on-year growth rates in revenue and EBITDA as in Q1."

Business and Financial Performance Qfi 2026

EBITDA grew 50% year-on-year to € 5.9 million, driven by revenue growth and operational leverage. Adjusted EBITDA reached

€ 6.2 million, or € 7.3 million at constant currencies, demonstrating strong operational performance.

Revenue increased 9% to € 67.3 million, supported by our enhanced product suite. Annual Recurring Revenue (ARR) grew by 5% year-on-year to € 36.2 million. Messaging volumes grew 39% year-on-year to 2.4 billion, driven by growing demand in richer communication channels, such as WhatsApp and RCS. Revenue from HALO increased 20% quarter-on-quarter, reflecting increased adoption.

Gross margin came in at 29.8%, down 3.2 percentage points year-on-year. This mainly reflects the CPaaS revenue growth impacting the product-mix, messaging-market pricing dynamics, and FX headwinds. In comparison with Q4 2025, Gross margin grew by 1.5 percentage points.

Operational efficiency improved further, aided by AI-driven processes and a 13% reduction in FTE, resulting in 10% higher TTM Gross profit per FTE. OPEX decreased by 14% year-on-year to € 14.2 million, enabled by continued cost discipline and efficiency improvements.

The net loss was € 1.2 million, compared to a net profit of € 5.5 million in Q1 2025. Last year's reported net profit included a one-off

€ 8.8 million gain from the extinguishment of convertible bonds.

Q1 2026 generated positive Free Cash Flow of € 4.1 million, as a result of higher EBITDA and disciplined working capital management. Our Adjusted Leverage ratio improved from 3.1x as of Q4 2025 to 2.7x as of Q1 2026.

Outlook

Building on the first quarter's performance with 9% year-on-year revenue growth and 50% EBITDA growth, we expect similar revenue and EBITDA year-on-year growth rates in Q2 2026.

2026 Financial Calendar & Events

Date

Topic

  • April 17, 2026

Annual General Meeting

  • July 21, 2026

Release first half-year 2026 results

  • October 16, 2026

Release Q3 2026 trading update

Investor Relations

For investor relations matters, please contact investor.relations@cm.com.

About CM.com

CM.com (AMS: CMCOM) is a leading European technology company that helps organizations worldwide improve customer interactions through integrated solutions for communications, payments, and AI. Headquartered in Breda, The Netherlands, CM.com serves customers in more than 100 countries and provides a scalable platform to automate and personalize customer journeys.

Forward Looking Statements

Statements included in this press release are not historical facts (including any statements concerning investment objectives, other plans, and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward-looking statements. These statements are only predictions and are not guarantees. Actual events or the results of CM.com's operations could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are typically identified using terms such as "may," "will," "should," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "potential" and/or the negative of such terms and other comparable terminology. The forward-looking statements are based upon the current expectations of CM.com, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of CM.com. Although CM.com believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements.

Alternative Performance Measures

Several alternative performance (non-IFRS) measures are disclosed in this press release. The reason for disclosing alternative performance measures is to provide information to our diverse group of stakeholders interested not only in IFRS measures, but also in non-IFRS measures. Furthermore, CM.com has provided guidance on several of these (non-IFRS) fintncitl measures, derived from the consolidated fintncitl statements. An overview of the alternative performance measures with their definitions is provided below:

Alternative Performance Measures

Adjusted EBITDA

EBITDA adjusted for one-offs

Adjusted Leverage ratio

Net debt divided by trailing twelve months Adjusted EBITDA

Adjusted OPEX

OPEX adjusted for one-offs

Annual Recurring Revenue (ARR)

Annual Recurring Revenue streams from customers at the end of the period, related to subscription-based product pricing

CAPEX

Investments in intangible fixed assets and tangible fixed assets

Constant Currencies (CC)

Income and expenses, in local currencies, are recalculated to euros, using the average exchange rates of the comparison period in previous calendar year (Q1 2025: €/$ 1.05)

EBIT

Earnings before interest and tax

EBITDA

Operating result less amortization, depreciation, and impairments (if any)

Free Cash Flow

EBITDA less CAPEX, less changes in Net Working Capital

Gross margin %

Gross profit divided by revenue

Gross profit

Revenue less cost of services

TTM Gross profit / FTE

Trailing twelve months gross profit divided by FTE

Net debt

Nominal value of the outstanding revolving credit facility, less unrestricted cash at bank.

Net Working Capital

Changes in inventories, trade and other receivables, trade and other payables, and contract liabilities, excluding receivables from and payables to merchants and fintncitl institutions

One-offs

Non-recurring, extraordinary or non-core items, being restructuring costs

OPEX

Employee benefits, other operating expenses, and other operating income

Not all companies calculate alternative performance measures in the same manner or on a consistent basis. As a result, these measures and ratios may not be comparable to measures used by other companies under the same name or similar definitions.

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