NFON : Präsentation Q1 (Englisch) (presentation q1 2026 en)

About this update from Nfon Ag

‌Earnings Call, 21 May 2026, online Q1 2026 results NFON AG ｜ EARNINGS CALL ‌WHO YOU HAVE ON THE CALL TODAY Presenting today's speakers Andreas Wesselmann CEO Alexander Beck CFO NFON AG ｜ EARNINGS CALL ‌Presentation chapters Business highlights Financials Guidance Q&A Appendix NFON AG ｜ EARNINGS CALL ‌BUSINESS HIGHLIGHTS Accelerating the future of AI-powered business communication NFON AG ｜ EARNINGS CALL ‌Financials NFON AG ｜ EARNINGS CALL ‌KEY FINANCIAL FIGURES* Resilient profitability despite muted revenue growth Revenue Adjusted EBITDA Key financial performance indicators Down 2.3% to EUR 21.6 million Down 31.5% to EUR 1.8 million Other financial performance indicators Rec. revenue Down 2.5% to EUR 20.2 million Share rec. revenue Stable 93.8% Q1 2025: 93.9% Seats Down 3.1% to 641,119 Blended ARPU Up 0.2% to EUR 10.04 NFON AG ｜ EARNINGS CALL *yoy ‌DEVELOPMENT OF REVENUE IN EUR MILLION Revenue growth driven by strong project business -2.3% 87.3 89.1 82.3 77.1 93.7 22.1 93.9 21.6 93.8 1.3 1.3 20.2 20.7 92.9 81.1 92.1 82.0 5.2 6.2 7.1 Total revenue decresead by 2.3% to EUR 21.6 million (Q1 2025: EUR 22.1 million). Recurring revenues decreased by 2.5% to EUR 20.2 million (Q1 2025: EUR 20.7 million), representing 93.8% of total revenue (Q1 2025: 93.9%). Non-recurring revenues remained stable at EUR 1.3 million (Q1 2025: EUR 1.3 million), reflecting a consistent contribution from project and one-off business. The seat base declined by 3.1% to 641,119 (Q1 2025: 661,349), reflecting a muted market environment and continued investment restraint. Blended ARPU increased slightly to EUR 10.04 (Q1 2025: EUR 10.02), supported by targeted price adjustments and and a higher share of premium and AI-based solutions. 2023 2024 Q1 2025 2025 Q1 2026 Share of recurring revenue (in %) Recurring revenue Non-recurring revenue Recurring revenue Non-recurring revenue NFON AG ｜ EARNINGS CALL ‌DEVELOPMENT OF COST OF MATERIALS (adj.) 1 IN EUR MILLION AND GROSS MARGIN 2 Gross margin continues to develop positively Material expenses were at EUR 3.2 million (Q1 2025: EUR 3.1 million), corresponding to an increase of 3.5%. +3.5% 13.0 12.9 12.9 86.0 3.1 85.2 3.2 85.5 85.3 84.2 Gross profit decreased by 3.2% to EUR 18.4 million (Q1 2025: EUR 19.0 million). The material cost ratio increased to 14.8% (Q1 2025: 14.0%), mainly due to lower recurring revenues combined with slightly higher material expenses. Other operating expenses decreased slightly to EUR 7.3 million (Q1 2025: EUR 7.4 million), mainly due to lower variable costs such as commissions and consulting, partly offset by increased marketing investments to support growth initiatives. The adjusted cost ratio remained broadly stable at 33.9% (Q1 2025: 33.8%), reflecting continued cost discipline and effective expense management. 2023 2024 Q1 2025 2025 Q1 2026 Gross margin (in %) NFON AG ｜ EARNINGS CALL 1 Cost of materials adjusted for changes in inventories of finished goods. 2 Gross margin defined as (revenue - adj. cost of materials)/revenue. ‌ADJUSTED 1 PERSONNEL EXPENSES IN EUR MILLION Personnel expenses in line with strategic focus +3.9% 35.5 33.4 34.4 9.1 9.4 41.0 43.5 40.6 39.4 39.9 Personnel expenses increased by 3.9% to EUR 9.5 million (Q1 2025: EUR 9.1 million). The average number of employees rose to 429 (Q1 2025: 425), reflecting a slight expansion in strategic growth areas, particularly in artificial intelligence and product development. Adjustments of EUR 0.1 million (Q1 2025: EUR 0.1 million), mainly related to the stock option programme and measures to harmonise the system landscape. After adjustments, personnel costs (EUR 9.4 million) remained broadly in line with expectations, reflecting strategic investments in growth and innovation capabilities. 2023 2024 Q1 2025 2025 Q1 2026 % of revenue NFON AG ｜ EARNINGS CALL 1 Adjustments explained in the comments on the right side of the slide. ‌ADJUSTED EBITDA IN EUR MILLION -31.5% 12.3 12.6 8.4 2.6 0.1 1.8 0.1 1.7 2.5 6.8 1.6 10.8 11.4 1.5 1.2 Adjusted EBITDA remains solid EBITDA decreased significantly to EUR 1.7 million (Q1 2025: EUR 2.5 million). Adjusted EBITDA declined to EUR 1.8 million (Q1 2025: EUR 2.6 million). o The decrease reflects lower revenues combined with continued investments in strategic growth areas. Adjustments r emained low at EUR 0.1 million (Q1 2025: EUR 0.1 million), mainly in connection with the stock option programme and measures to harmonise the system landscape. Adjusted EBITDA margin stood at 8.3% (Q1 2025: 11.8%). 20 23 20 24 Q 1 20 25 20 25 Q 1 20 26 NFON AG ｜ EARNINGS CALL EBITDA ADJUSTMENTS ‌CASH FLOW FOR FUTURE SUCCESS IN EUR MILLION Reinvesting into strategic growth 12.9 1.6 -0.8 12.9 Operating cash flow slightly below prior year at EUR 1.6 million (Q1 2025: EUR 1.8 million). Investing cash flow amounted to -0.8 0.0 EUR -0.8 million (Q1 2025 EUR -0.7 million), mainly driven by capitalised development costs for new products and enhanced functionalities. Financing cash flow totalled EUR -0.8 million (Q1 2025: EUR -0.5 million), reflecting lease and loan repayments. Cash and cash equivalents remained solid at EUR 12.9 million (Q1 2025: EUR 13.6 million), providing a strong liquidity base for operations and strategic initiatives. Free cash flow 1 reached EUR 0.8 million, demonstrating disciplined cash management and the ability to fund our ongoing investments from operating performance. Cash and cash equivalents at the beginning of the period Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Effects of exchange rate changes on liquidity Cash and cash equivalents at the end of the period NFON AG ｜ EARNINGS CALL 1 Free cash flow is calculated by deducting capital expenditure on property, plant and equipment and intangible assets, excluding cash flows for M&A activities. ‌Guidance NFON AG ｜ EARNINGS CALL ‌OUTLOOK KEY FINANCIAL FIGURES From stable 2025 performance to cautious growth expectations Total revenue Adjusted EBITDA EUR 89.1 million We expect total revenue to grow low to mid single-digit % range . EUR 12.6 million We expect adjusted EBITDA to exceed EUR 12 million. We expect total revenue to grow double-digit % rate. Result 2025 Outlook 2026 Mid-term 2027e We expect an adjusted EBITDA margin > 15%. NFON AG ｜ EARNINGS CALL ‌Q&A NFON AG ｜ EARNINGS CALL ‌THANK YOU for your time and attention NFON AG ｜ EARNINGS CALL ‌Appendix NFON AG ｜ EARNINGS CALL ‌MOMENTUM - INNOVATION - VALUE Reasons to invest in NFON Attractive market environment We operate in a growing European market, with strong momentum in Germany in particular. Leading market position in Europe We combine strong market positioning with a resilient business model. Scalable business model We rely on > 90% recurring revenue and profitable growth. Growth acceleration through AI We enhance efficiency and customer value through integrated AI. Sustainable value creation We target an EBITDA margin of > 15% by 2027, supported by > 90% recurring revenue and disciplined cash flow management. NFON AG ｜ EARNINGS CALL ‌DEVELOPMENT OF NUMBER OF SEATS ('000) AND ARPU -3.1% Seat development reflecting challenging market environment Total number of seats decreased by 3.1% to 641,119 (Q1 2025: 661,349), reflecting 656 665 661 647 641 10.04 10.01 10.02 9.91 9.71 continued weak order intake, selective customer losses and a challenging market environment, as well as cautious investment behaviour by enterprise customers. Monthly churn rate remains, with measures to reduce churn having a stabilising effect and limiting the underlying churn. At the same time, blended ARPU slightly increased to EUR 10.04 (Q1 2025: EUR 10.02), primarily to the price adjustments implemented in previous periods and to an increasing share of higher-value solutions, particularly in the area of premium solutions and AI-based applications. 2023 2024 Q1 2025 2025 Q1 2026 Blended ARPU (in EUR) NFON AG ｜ EARNINGS CALL ‌DISTRIBUTION COST AND MARKETING EXPENSES IN EUR MILLION Customer acquisition costs in line with strategic focus Distribution cost Marketing expenses +0.8% Sales expenses decreased by 6.7% to EUR 2.9 million (Q1 2025: EUR 3.1 million) in line with lower overall revenue as well as targeted cost control. Marketing expenses rose by 30% to EUR 1.5 million (Q1 2025: EUR 1.2 million), mainly due to increased activities related to 3.1 2.9 14.2 13.4 13.6 14.0 13.7 11.7 12.0 12.1 +2.5% 4.4 new AI features and partner enablement. General administrative expenses, in particular consultancy costs as well as lower support and logistics costs, were lower than in the previous year. 3.9 4.0 1.2 1.5 5.3 7.0 4.4 4.4 5.3 The adjusted cost ratio remained broadly stable at 33.9% (Q1 2025: 33.8%), reflecting continued cost discipline and effective expense management. 2023 2024 Q1 2025 2025 Q1 2026 % of revenue 2023 2024 Q1 2025 2025 Q1 2026 % of revenue NFON AG ｜ EARNINGS CALL ‌10-YEAR BUSINESS DEVELOPMENT IN EUR THOUSAND Company performance over time at a glance Income statement 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Revenues 89,065 87,336 82,339 80,792 75,893 67,602 57,117 43,028 35,654 30,388 20,951 - Recurring revenue 82,016 81,133 77,134 73,573 67,962 59,387 48,060 34,584 27,765 21,605 15,189 Non-recurring revenue 7,050 6,202 5,205 7,219 7,931 8,215 9,063 8,444 7,889 8,783 5,762 Material costs 12,092 12,856 12,973 14,414 14,453 14,024 13,637 11,083 9,705 8,421 6,382 - Total other operating expenses 28,493 28,654 28,474 35,267 32.310 23,584 26,773 18,875 13,604 10,120 9,721 EBITDA 11,386 10,833 6,798 -5,266 -2,029 2,322 -6,984 -7,783 -1,028 -718 -5,606 EBITDA Margin (%) 12.8 12.4 8.2 -6.5 -2.7 3.4 -12.2 -18.0 -2.9 -2.4 -26.8 Adjusted EBITDA 12,620 12,325 8,353 -1,002 -1,287 3,475 -5,125 -1,208 173 - - Adjusted EBITDA Margin (%) 14.2 14.1 10.2 -1.3 -1.7 5.1 -9.0 -2.9 0.5 - - Net profit/loss 2,249 350 -802 -15,582 -8,911 -2,237 -10,924 -8,113 -2,021 - - Earnings per share (EUR) 0.1 0.0 -0.0 -0.9 -0.5 -0.1 - - - - - Balance sheet 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Non-current assets 60,781 63,028 49,329 44,135 41,385 37,924 30,467 1,886 1,283 959 1,082 Current assets 27,095 26,748 24,578 25,285 42,122 35,837 46,740 49,382 7,999 10,622 10,561 Equity 50,401 47,980 47,155 47,801 63,231 45,577 47,146 43,633 343 371 371 Long-term debt 15,841 21,250 11,296 7,220 4,877 5,565 3,685 236 266 0 1 Short-term liabilities 21,993 20,546 15,456 14,400 15,398 22,619 26,374 7,399 8,673 6,624 5,717 Balance sheet total 87,875 89,776 73,907 69,420 83,507 73,761 77,206 51,268 9,282 11,581 11,643 Cash flow 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Cash flow from operating activities 8,415 9,413 6,842 -3,867 -1,756 1,149 -7,187 -4,960 -341 -1,539 -4,143 Cash flow from investing activities 5,955 -12,896 -5,865 -8,448 -8,479 -7,688 -20,480 -1,055 -1,079 -433 -820 Cash flow from financing activities 2,483 4,162 -1,943 -2,085 14,825 -6,809 22,606 45,282 -2,162 1,350 9,997 Cash and cash equivalents at the beginning of the period 12,995 12,281 13,218 27,670 23,034 36,419 41,436 2,176 5,777 6,397 1,346 Cash and cash equivalents at the end of the period 12,896 12,995 12,281 13,218 27,670 23,034 36,419 41,436 2,176 5,777 6,397 Other performance indicators (absolute variables) 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Blended ARPU (EUR) 10 9.9 9.8 9.8 9.9 9.8 9.6 10.0 10.3 10.9 11.2 Seats (number of seats) 647,384 665,449 655,967 634,288 587,067 524,791 449,711 320,728 253,360 191,977 134,450 Employees (average number of employees) 425 410 439 512 451 392 346 228 192 182 158 NFON AG ｜ EARNINGS CALL ‌MEET THE TEAM Our Management Board Andreas Wesselmann CEO At NFON since 2024 > 20 years of experience in an international working environment and in senior executive positions within the software industry Previous experience includes SAP Alexander Beck CFO At NFON since 2025 > 20 years of experience across retail, FMCG, software and technology Proven track record in international expansion, turnaround and profitable growth Previous experience includes Ceconomy AG, Nemetschek SE and Accell Group NFON AG ｜ EARNINGS CALL ‌NFON ON THE CAPITAL MARKET 14.1 4.0 38.1 6.0 8.3 29.5 structure Share at a glance Share information ISIN DE000A0N4N52 WKN A0N4N5 Segment Prime Standard/Telecommunication Shares 16.6 million (29 March 2021) Type of shares No-par-value bearer shares Voting rights Each share entitles the holder to one vote Trading segment Official Market/Prime Standard Stock exchanges Frankfurt Stock Exchange/Xetra Stock exchange symbol NF Reuter symbol NFN.DE Bloomberg symbol NFN.GY Sector Telecommunications Designated sponsors Baader Bank, ODDO BHF First day of trading 11 May 2018 Coverage Baader Europe (Alpha Value), NuWays, ODDO BHF Paying agent Baader Bank Shareholder In %, as of April 2026 Milestone Venture Capital Active Ownership Capital S.à r.l. Universal Investment Morgan Stanley ASC Technology AG Others NFON AG ｜ EARNINGS CALL ‌INVESTOR RELATIONS ACTIVITIES AT A GLANCE Financial calendar 24 Jun. Annual General Meeting 20 Aug. H1 2026 half-yearly report 19 Nov. Q3 2026 quarterly statement 23 Nov. German Equity Forum NFON AG ｜ EARNINGS CALL ‌STAY IN TOUCH Investor Relations contact and more … NFON AG ｜ EARNINGS CALL At NFON since 2023 > 15 years of experience in investor relations, sustainability reporting and project management https://www. linkedin .com/company/nfo n https:// facebook .com/NFONco m https://www. youtube .com/@NFONco m https://www.nfon.com/ blog /de/ Previous experience includes: Deutsche Bahn, Kirchhoff Consult NFON AG Zielstattstrasse 36 81379 Munich, Germany +49 89 45300-449 [email protected] Friederike Thyssen VP Corporate Affairs & Investor Relations ‌Disclaimer This publication contains forward-looking statements regarding NFON AG or the NFON Group and its subsidiaries, including assessments, estimates and forecasts regarding the financial position, business strategy, plans and objectives of the management and future operations of NFON AG and the NFON Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the results of operations, profitability, performance or results of NFON AG or the NFON Group to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are made as of the date of this press release and are based on numerous assumptions that may prove to be incorrect. NFON AG makes no representations and assumes no liability with regard to the proper presentation, completeness, correctness, appropriateness or accuracy of the information and assessments contained herein. The information contained in this press release is subject to change without notice. It may be incomplete or abbreviated and may not contain all material information relating to NFON AG or the NFON Group. NFON AG assumes no obligation to publicly update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. This press release is not an offer to buy or subscribe for securities and should not be construed as a basis for investment decisions in NFON AG or the NFON Group, in whole or in part. NFON AG ｜ EARNINGS CALL ‌NFON AG ｜ EARNINGS CALL

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