Consolidated financial statement (text ssf q3 2025 26 en)

Text S.A.

Group of Companies

Condensed interim consolidated report

for the period

from 1 April 2025 to 31 December 2025

Prepared in accordance with the International Financial Reporting Standards

Wroclaw, 26 February 2026

1. SELECTED FINANCIAL DATA 4

2. BASIC INFORMATION 5

   1. General Information 5

   2. Information about the Parent Company 5

   3. Composition of the Management Board and the Supervisory Board 6

   4. Information on the Group of Companies 6

   5. Format of the condensed financial statement 6

   6. Approval for publication 7

   7. Translation of figures presented in a foreign currency and translation into the presentation currency 7

   8. Statement of the Management Board 7

3. INTERIM CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION 8

   1. Interim consolidated statement of financial position 8

   2. Interim consolidated statement of comprehensive income 9

   3. Net earnings per ordinary share 10

   4. Interim consolidated statement of changes in equity 10

   5. Interim consolidated cash flow statement 12

4. SEPARATE INTERIM FINANCIAL STATEMENTS 13

   1. Separate interim statement on financial position 13

   2. Separate interim statement of comprehensive income (calculation variant) 14

   3. Separate interim statement of changes in equity 15

   4. Separate interim cash flow statement 16

5. COMMENTARY ON THE RESULTS, BASIS FOR PREPARATION OF THE FINANCIAL STATEMENTS AND ACCOUNTING PRINCIPLES APPLIED 17
   1. Declaration of compliance and basis for preparation, effect of changes of applied standards or interpretations 17

   2. Description of the adopted accounting policies 18

6. ADDITIONAL INFORMATION AND EXPLANATIONS 28

   1. Changes in the presentation and classification of financial statement items 28

   2. Explanatory notes to the statement of financial position 28

      Note 1. Property, plant and equipment 28

      Note 2. Intangible assets 29

      Note 3. Long-term receivables 31

      Note 4. Prepayments and accruals 31

      Note 5. Accounts receivable and other receivables 31

      Note 6. Cash and cash equivalents 32

      Note 7. Equity 32

      Note 8. Liabilities from contracts with customers 36

      Note 9. Lease liabilities 36

      Note 10. Short-term liabilities 36

      Note 11. Short-term borrowings 37

   3. Explanatory notes to the statement of comprehensive income 37

Note 12. Revenues from sales 37

Note 13. Costs of operating activity 38

Note 14. Other operating revenues and costs 38

Note 15. Financial revenues and costs 39

Note 16. Income tax and deferred tax 39

1. Explanatory notes to the cash flow statement 41

   Note 17. Other adjustments 41

2. Other explanatory notes 41

Note 18. Financial instruments 41

Note 19. Benefits to the key managing staff (including remuneration for Members of the Management Board and the Supervisory Board) 41

Note 20. Contingent items and other off-balance sheet items 42

Note 21. Employment information 42

Note 22. Description of factors and events, especially of non-typical nature, having an impact on the financial results 42

Note 23. Events after the end of the financial year, not taken into account in the financial statements 42

Note 24. Transactions with related entities 42

Note 25. Cyclicality and seasonality of the activities run 43

Note 26. Remuneration of the statutory auditor 43

Note 27. Objective and principles of risk management 43

1. ‌SELECTED FINANCIAL DATA

   Specification	PLN thousand		EUR thousand
   	For the period of 9 months ended 31 December 2025	For the period of 9 months ended 31 December 2024	For the period of 9 months ended 31 December 2025	For the period of 9 months ended 31 December 2024
   Consolidated statement of comprehensive income
   Net revenues from sales of products, merchandise and materials	249 165	265 169	58 563	61 689
   Profit (loss) on operating activity	96 197	136 571	22 610	31 772
   Gross profit (loss)	96 014	137 313	22 567	31 944
   Net profit (loss)	88 055	127 594	20 696	29 683
   Profit (loss) per ordinary share (in PLN/EUR)	3.42	4.96	0.80	1.15
   Number of shares (in thousand items)	25 750	25 750	25 750	25 750
   Consolidated cash flow statement
   Net cash flows from operating activity	113 708	139 190	26 725	32 381
   Net cash flows from investing activity	(23 792)	(23 312)	(5 592)	(5 423)
   Net cash flows from financing activity	(114 272)	(112 750)	(26 858)	(26 230)
   Net cash flows, in total	(24 357)	3 128	(5 725)	728
   Specification	PLN thousand		EUR thousand
   	31 December 2025	31 March 2025	31 December 2025	31 March 2025
   Consolidated statement of financial position
   Total assets	196 798	226 705	46 561	54 185
   Liabilities and provisions for liabilities	85 890	90 287	20 321	21 580
   Long-term liabilities	5 103	6 393	1 207	1 528
   Short-term liabilities	80 787	83 894	19 113	20 052
   Equity	110 908	136 418	26 240	32 605
   Share capital	515	515	122	123
   Book value per share (in PLN/EUR)	4.31	5.30	1.02	1.27
   Number of shares (in thousand items)	25 750	25 750	25 750	25 750

   PLN/EUR exchange rate	1 April 2025 - 31 December 2025	1 April 2024 - 31 March 2025	1 April 2024 - 31 December 2024
   For the figures in the statement of financial position	4.2267	4.1839	4.2730
   For the figures in the statement of comprehensive income and in the cash flow statement	4.2547	4.2722	4.2985
   The highest rate for the period	4.3033	4.3662	4.2499
   The lowest rate for the period	4.1791	4.1339	4.3662

   Wrocław, 26 February 2026

   
   
   

   Mariusz Ciepły Urszula Jarzębowska Joanna Alwin

   President of the

   Management Board

   Member of the Management

   Board

   Financial Director

   Responsible Accounting

   Officer

2. ‌Basic Information
   1. ‌General Information

      The interim consolidated financial statements of Text S.A. Group of Companies ("Group of Companies"

      or "Group") comprise:

      • Interim consolidated condensed statement of financial position as at 31 December 2025, which presents a total balance of assets, liabilities and shareholders' equity in the amount of (PLN thousand) 196 798;

      • Interim consolidated condensed statement of comprehensive income for the period from 1 April 2025 to 31 December 2025, which presents a net profit of (PLN thousand) 88 055 and comprehensive income of (PLN thousand) 88 733;

      • Interim consolidated condensed statement of changes in equity for the period from 1 April 2025 to 31 December 2025, which presents a decrease of equity by (PLN thousand) 25 510;

      • Interim consolidated condensed cash flow statement for the period from 1 April 2025 to 31 December 2025, which presents a decrease of net cash by (PLN thousand) 24 357;

      • Additional notes and explanations.

   2. ‌Information about the Parent Company

      The parent company of Text Spółka Akcyjna Group of Companies (hereinafter referred to as the "Group of Companies", "Group") is Text S.A. (hereinafter referred to as the "Parent Company", "Company", "Reporting Entity").

      The Parent Company was established by the Notarial Deed of 10 September 2007. The Parent Company is entered in the Register of Entrepreneurs of the National Court Register kept by the District Court for Wrocław-Fabryczna - 6th Commercial Division with KRS No. 0000290756.

      The registered office of the Parent Company is located in Wrocław at Zwycięska 47, 53-033 Wrocław

      Name of the reporting entity: Text Spółka Akcyjna

      Principal object of activity: 62.01.Z. Software-related activities

      The duration of the parent company and the subsidiary included in the Group is indefinite. The reporting entity has no upstream unit.

      Registered office of the Reporting Entity: Zwycięska 47, 53-033 Wrocław, Poland

      Address of the registered office of the Reporting Entity: Zwycięska 47, 53-033 Wrocław, Poland

      Legal form of the Reporting Entity: joint stock company

      Country of registration: Poland

      Principal object of activity: 62.01.Z. Software-related activities

      The duration of the parent company and the subsidiary included in the Group is indefinite. The reporting entity has no upstream unit.

   3. ‌Composition of the Management Board and the Supervisory Board

      The Management Board of the Parent Company as at the balance sheet date and the date of approval of the financial statements for publication was composed of:

      • Mariusz Ciepły - President of the Management Board;

      • Urszula Jarzębowska - Member of the Management Board.

      During the reporting period, the composition of the Management Board of the Parent Company did not change. The Supervisory Board of the Parent Company as at the balance sheet date and as at the date of approval of the financial statements for publication was composed of:

      • Maciej Jarzębowski - Chairperson of the Supervisory Board;

      • Jakub Sitarz - Vice-Chairperson of the Supervisory Board;

      • Marta Ciepła - Member of the Supervisory Board;

      • Marcin Mańdziak - Member of the Supervisory Board;

      • Marzena Czapaluk - Member of the Supervisory Board.

   4. ‌Information on the Group of Companies

      The consolidated financial statements of Text S.A. Group of Companies cover its subsidiary Text Inc. (formerly LiveChat Inc.), with its registered office at 101 Arch Street, 8th Floor, Boston, MA 02110, USA, in which the Parent Company holds 100% of the shares.

   5. ‌Format of the condensed financial statement

      Basis for preparation of the statements

      These interim consolidated financial statements have been prepared in accordance with International

      Accounting Standard No. 34 "Interim Financial Reporting" as approved by the EU ("IAS 34").

      The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statement and should be read in conjunction with the Group's consolidated financial statements for the financial year ended 31 March 2025.

      Functional currency and presentation currency

      The interim condensed consolidated financial statements are presented in Polish zloty (PLN) which is the

      Parent Company's and Group of Companies' functional and presentation currency.

      Transactions denominated in foreign currencies are translated into the functional currency at the exchange rate applicable on the transaction date. Foreign exchange gains and losses arising from the settlement of these transactions and from the balance sheet valuation of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of comprehensive income, unless they qualify for cash flow hedging or net investment hedging and are deferred in equity.

      Presented periods

      The interim condensed consolidated financial statements were prepared as at 31 December 2025 and cover a period of 9 months i.e. from 1 April 2025 to 31 December 2025.

      For the data presented in the interim condensed statements of financial position and off-balance sheet items, comparable financial data are provided as at 31 March 2025.

      For the data presented in the interim condensed statements of comprehensive income, interim condensed statements of changes in equity, and interim condensed statements of cash flows, comparable financial data are presented for the period from 1 April 2024 to 31 December 2024.

      Audit by an Audit Firm

      These interim condensed consolidated financial statements, along with selected elements of the interim condensed separate financial statements, have not been audited or reviewed by an independent audit firm.

   6. ‌Approval for publication

      The presented financial statements were approved for publication by the Parent Company's Management

      Board on 26 February 2026.

   7. ‌Translation of figures presented in a foreign currency and translation into the presentation currency

      As at 31 December 2025, balance sheet items were presented in USD using the exchange rate of 1 USD = 3.6016 PLN, whereas items in the statement of financial results and comprehensive income were presented using the exchange rate of 1 USD = 3.6760 PLN. The value of the Parent Company's shares in its subsidiary Text Inc. was translated using the historical exchange rate of 1 USD = 3.3129 PLN.

   8. ‌Statement of the Management Board

      The Management Board of Text S.A. declares that, to the best of its knowledge, these interim condensed consolidated financial statements and comparable data have been prepared in accordance with the applicable regulations of the Text S.A. Group of Companies and its accounting principles. They reflect in a true, reliable, and clear manner the property and financial situation of the Company and the Group of Companies, as well as its financial results. These interim condensed consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IAS 34 - Interim Financial Reporting) and related interpretations applicable to interim financial reporting, published as European Commission regulations approved by the European Union. The presented interim condensed consolidated financial statements comply with the Regulation of the Minister of Finance of 29 March 2018, on current and periodic information provided by issuers of securities and the conditions for recognizing information required by the laws of a non-member state as equivalent.

      
      
      

      Wrocław, 26 February 2026

      
      
      

      Mariusz Ciepły Urszula Jarzębowska Joanna Alwin

      President of the

      Management Board

      Member of the

      Management Board Financial Director

      Responsible Accounting

      Officer

3. ‌INTERIM CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION
   1. ‌Interim consolidated statement of financial position

      Specification	Note	As at 31 December 2025	As at 31 March 2025
      FIXED ASSETS		91 483	89 115
      Property, plant and equipment	1	5 621	6 306
      Intangible assets	2	80 880	76 563
      Long-term receivables	3	160	160
      Deferred income tax assets	16	4 779	6 048
      Long-term prepayments	4	43	38
      CURRENT ASSETS		105 315	137 590
      Accounts receivable	5	1 001	1 536
      CIT receivables	5	24 606	34 032
      VAT receivables	5	23 909	22 355
      Other receivables	5	449	67
      Cash and cash equivalents	6	53 347	77 704
      Long-term prepayments	4	2 003	1 896
      Assets classified as held for sale		-	-
      TOTAL ASSETS		196 798	226 705
      EQUITY		110 908	136 418
      Share capital	7.2.	515	515
      Supplementary capital from retained earnings and transactions of mergers under common control	7.3.	76 635	68 976
      Currency conversion differences		(601)	(1 279)
      Retained earnings	7.4.	34 359	68 206
      Equity attributable to shareholders of the Parent Company		110 908	136 418
      Equity attributable to non-controlling interests		-	-
      LONG-TERM LIABILITIES		5 103	6 393
      Deferred income tax liability	16	1	-
      Other financial liabilities	9	3 439	3 878
      Liabilities from contracts with customers	8	1 663	2 515
      SHORT-TERM LIABILITIES		80 787	83 894
      Short-term borrowings	11	-	-
      Other financial liabilities	9	917	1 128
      Accounts payable	10	9 376	9 788
      Current income tax liabilities	10	2 190	163
      Liabilities from contracts with customers	8	64 387	69 611
      Other liabilities	10	3 917	3 204
      Liabilities directly connected with non-current assets classified as held for sale		-	-
      TOTAL LIABILITIES		85 890	90 287
      TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		196 798	226 705

      
      
      

      Wrocław, 26 February 2026

      
      
      

      Mariusz Ciepły Urszula Jarzębowska Joanna Alwin

      President of the

      Management Board

      Member of the

      Management Board Financial Director

      Responsible Accounting

      Officer

   2. ‌Interim consolidated statement of comprehensive income

      Specification	Note	For the period of 3 months ended 31 December 2025	For the period of 9 months ended 31 December 2025	For the period of 3 months ended 31 December 2024	For the period of 9 months ended 31 December 2024
      Continued operations
      Revenues from sales	12	81 555	249 165	88 917	265 169
      Cost of goods sold	13	27 605	80 748	17 870	52 259
      GROSS PROFIT (LOSS) ON SALES		53 950	168 417	71 047	212 910
      Cost of sales	13	16 853	51 720	16 585	48 875
      General administrative costs	13	6 502	19 195	10 948	27 524
      Remaining operating revenues	14	109	281	77	184
      Remaining operating costs	14	20	1 586	9	124
      PROFIT (LOSS) ON OPERATING ACTIVITY		30 684	96 197	43 582	136 571
      Financial revenues	15	-	139	954	830
      Financial costs	15	152	322	52	88
      PROFIT (LOSS) BEFORE TAX		30 532	96 014	44 484	137 313
      Income tax	16	2 129	7 959	3 217	9 719
      NET PROFIT (LOSS) ON CONTINUED OPERATIONS		28 403	88 055	41 267	127 594
      NET PROFIT (LOSS)		28 403	88 055	41 267	127 594
      Other comprehensive income items that will not be reclassified into profit or loss		-	-	-	-
      Other comprehensive income items that, after meeting certain requirements, will be reclassified into profit or loss		(24)	678	38	895
      Exchange rate differences from conversion of foreign entities		(24)	678	38	895
      Total other comprehensive income		(24)	678	38	895
      Total comprehensive income		28 379	88 733	41 305	128 489

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      
      
      

      President of the Management Board

      Member of the Management Board Financial Director

      Joanna Alwin Responsible Accounting Officer

   3. ‌Net earnings per ordinary share

      Earnings per share (in PLN per share)	For the period of 9 months ended 31 December 2025	For the period of 12 ended 31 March 2025	For the period of 9 months ended 31 December 2024
      From continued and discontinued operations
      Ordinary	3.42	6.39	4.96
      Diluted	3.42	6.39	4.96
      From continued operations
      Ordinary	3.42	6.39	4.96
      Diluted	3.42	6.39	4.96
      Weighted average number of ordinary shares	25 750 000	25 750 000	25 750 000
      Weighted average diluted number of ordinary shares	25 750 000	25 750 000	25 750 000

      Ordinary profit on continued operations per share is calculated as the quotient of profit on continued operations attributable to ordinary shareholders of the Parent Company and weighted average number of issued ordinary shares in the financial year.

      Diluted profit on continued operations per share is calculated as the quotient of profit on continued operations attributable to ordinary shareholders of the Parent Company (after deduction of interest on redeemed preference shares converted into ordinary shares) and the weighted average number of issued ordinary shares in the financial year (adjusted for the effect of diluting options and diluting redeemed preference shares converted into ordinary shares).

   4. ‌Interim consolidated statement of changes in equity

      STATEMENT OF CHANGES IN EQUITY for the period of 9 months ended 31 December 2025	Share capital	Suppleme ntary capital	Exchange rate differences from conversion of a subsidiary	Retained earnings	Total equity attributable to equity holders of the parent company	Total equity
      Equity as at 1 April 2025	515	68 976	(1 279)	68 206	136 418	136 418
      Transfer of financial results to equity	-	7 659	-	(7 659)	-	-
      Dividends paid	-	-	-	(113 300)	(113 300)	(113 300)
      Changes related to the settlement of the financial result	-	-	-	(943)	(943)	(943)
      Total transactions with owners	-	7 659	-	(121 902)	(114 243)	(114 243)
      Net profit (loss) for the period	-	-	-	88 055	88 055	88 055
      Other comprehensive income	-	-	678		678	678
      Total comprehensive income	-	-	678	88 055	88 733	88 733
      Total of changes in equity	-	7 659	678	(33 847)	(25 510)	(25 510)
      Equity as at 31 December 2025	515	76 635	(601)	34 359	110 908	110 908

      STATEMENT OF CHANGES IN EQUITY for the period of 9 months ended 31 December 2024	Share capital	Suppleme ntary capital	Exchange rate differences from conversion of a subsidiary	Retained earnings	Total equity attributable to equity holders of the parent company	Total equity
      Equity as at 1 April 2024	515	57 092	(2 022)	71 107	126 692	126 692
      Transfer of financial results to equity	-	11 884	-	(11 884)	-	-
      Dividends paid	-	-	-	(112 013)	(112 013)	(112 013)
      Changes related to the settlement of the financial result	-	-	-	(672)	(672)	(672)
      Total transactions with owners	-	11 884	-	(124 569)	(112 685)	(112 685)
      Net profit (loss) for the period	-	-	-	127 594	127 594	127 594
      Other comprehensive income	-	-	895	-	895	895
      Total comprehensive income	-	-	895	127 594	128 489	128 489
      Total of changes in equity	-	11 884	895	3 025	15 804	15 804
      Equity as at 31 December 2024	515	68 976	(1 127)	74 132	142 496	142 496

      
      
      

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      

      President of the Management Board

      Member of the Management Board Financial Director

      Joanna Alwin Responsible Accounting Officer

   5. ‌Interim consolidated cash flow statement

      Specification	Note	for the period of 9 months ended 31 December 2025	for the period of 9 months ended 31 December 2024
      Profit before tax		96 014	137 313
      Total adjustments:		(6 970)	7 029
      Depreciation/amortization		19 498	17 749
      Gains (losses) on investment activities		800	-
      Change in the balance of receivables		(21 401)	(13 028)
      Change in the balance of short-term liabilities, save for financial liabilities		(6 488)	1 794
      Change in the balance of prepayments and accruals		601	386
      Change in the balance of assets and provisions for deferred income tax		1 270	(588)
      Other adjustments	17	(1 250)	716
      Cash generated from operating activities		89 044	144 342
      Income tax paid		24 664	(5 152)
      Net cash flows from operating activity		113 708	139 190
      Expenditures on acquisition of intangible assets and property, plant and equipment		(23 931)	(23 312)
      Interest received		139	-
      Net cash flows from investing activity		(23 792)	(23 312)
      Dividends paid		(113 300)	(112 013)
      Interest paid		(322)	-
      Payment of liabilities arising from financial lease agreements		(650)	(737)
      Loans and borrowings		10 000	-
      Repayments of loans and borrowings		(10 000)	-
      Net cash flows from financing activity		(114 272)	(112 750)
      TOTAL NET CASH FLOWS		(24 357)	3 128
      BALANCE SHEET CHANGE IN CASH, OF WHICH:		(24 357)	3 128
      - change in the balance of cash arising from foreign exchange differences		-	-
      CASH AT THE BEGINNING OF THE PERIOD		77 704	84 860
      CASH AT THE END OF THE PERIOD		53 347	87 988

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      
      
      

      President of the Management Board

      Member of the Management Board Financial Director

      Joanna Alwin Responsible Accounting Officer

4. ‌SEPARATE INTERIM FINANCIAL STATEMENTS
   1. ‌Separate interim statement on financial position

      Specification	31 December 2025	31 March 2025
      Non-current assets	91 485	89 117
      Intangible assets	5 621	6 306
      Property, plant and equipment	80 880	76 563
      Long-term receivables	160	160
      Long-term investments	2	2
      Deferred income tax assets	4 779	6 048
      Long-term prepayments	43	38
      Current assets	102 651	133 782
      Receivables from services and deliveries from related entities	5 169	10 668
      Receivables from services and deliveries from other entities	9	1
      CIT receivables	24 606	34 032
      VAT receivables	23 909	22 355
      Other receivables	449	67
      Cash and cash equivalents	46 506	64 763
      Accruals	2 003	1 896
      Assets classified as held for sale	-	-
      TOTAL ASSETS	194 136	222 899
      Equity	108 056	133 814
      Share capital	515	515
      Supplementary capital derived from retained earnings and merger transactions under common control	76 635	68 976
      Retained earnings	30 906	64 323
      Liabilities	86 080	89 085
      Long-term liabilities	5 103	6 393
      Liabilities for deferred income tax	1	-
      Financial liabilities to other entities	3 439	3 878
      Liabilities to other entities related to contracts with customers	1 663	2 515
      Short-term liabilities	80 977	82 692
      Other financial liabilities to other entities	917	1 128
      Short-term borrowings	-	-
      Liabilities to other entities related to contracts with customers	64 387	69 611
      Liabilities to other entities	9 566	8 586
      Current income tax liabilities	2 190	163
      Other liabilities	3 917	3 204
      TOTAL EQUITY	194 136	222 899

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      
      
      

      President of the Management Board

      Member of the Management Board Financial Director

      Joanna Alwin Responsible Accounting Officer

   2. ‌Separate interim statement of comprehensive income (calculation variant)

      Specification (PLN thousand	For the period of 3 months ended 31 December 2025	For the period of 9 months ended 31 December 2025	For the period of 3 months ended 31 December 2024	For the period of 9 months ended 31 December 2024
      Continued operations
      A. Revenues from sales	81 555	249 165	88 917	265 169
      - from related entities	81 259	248 357	87 079	263 048
      B. Cost of goods sold	27 605	80 748	18 722	53 125
      C. Gross profit (loss) on sales (A-B)	53 950	168 417	70 195	212 044
      D. Cost of sales	16 957	52 047	16 714	49 295
      E. General administrative costs	6 566	19 381	11 001	27 639
      F. Profit (loss) on sales (C-D-E)	30 427	96 989	42 480	135 110
      G. Remaining operating revenues	109	281	78	184
      H. Remaining operating costs	20	1 586	9	124
      I. Profit (loss) on operating activity (F+G+H)	30 516	95 684	42 549	135 170
      J. Financial revenues	-	139	1 806	1 696
      K. Financial costs	152	322	52	88
      L. Gross profit (loss) (I+J-K)	30 364	95 501	44 303	136 778
      M. Income tax	2 129	7 959	3 217	9 719
      N. Remaining mandatory reductions to profit	-	-	-	-
      O. Net profit (loss) (L-M-N)	28 235	87 542	41 086	127 059

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      

      President of the Management Board

      
      
      

      Member of the Management Board

      Joanna Alwin Responsible Accounting Officer

   3. ‌Separate interim statement of changes in equity

      STATEMENT OF CHANGES IN EQUITY for the period of 9 months ended 31 December 2025	Share capital	Supplementary capital	Retained earnings	Total equity
      Equity as at 1 April 2025	515	68 976	64 323	133 814
      Transfer of financial results to equity	-	7 659	(7 659)	-
      Dividends paid	-	-	(113 300)	(113 300)
      Total transactions with owners	-	7 659	(120 959)	(113 300)
      Net profit (loss)	-	-	87 542	87 542
      Total comprehensive income	-	-	87 542	87 542
      Equity as at 31 December 2025	515	76 635	30 906	108 056

      STATEMENT OF CHANGES IN EQUITY for the period of 9 months ended 31 December 2024 (PLN thousand)	Share capital	Supplementary capital	Retained earnings	Total equity
      Equity as at 1 April 2024 in accordance with Polish Accounting Principles (PSR)	515	57 092	67 929	125 536
      The effects of changing accounting policy to IFRS	-	-	(1 018)	(1 018)
      Equity as at 1 April 2024 in accordance with IFRS	515	57 092	66 911	124 518
      Transfer of financial results to equity	-	11 884	(11 884)	-
      Dividends paid	-	-	(112 013)	(112 013)
      Changes related to the settlement of the financial results	-	-	350	350
      Total transactions with owners	-	11 884	(123 547)	(111 663)
      Net profit (loss)	-	-	127 059	127 059
      Total comprehensive income	-	-	127 059	127 059
      Equity as at 31 December 2024	515	68 976	70 423	139 914

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      

      President of the Management Board

      
      
      

      Member of the Management Board

      Joanna Alwin Responsible Accounting Officer

   4. ‌Separate interim cash flow statement

      Specification	For the period of 9 months ended 31 December 2025	For the period of 9 months ended 31 December 2024
      Profit before tax	95 501	136 778
      Total adjustments:	(357)	14 259
      Depreciation/amortization	19 498	17 749
      Profit (losses) from investing activities	800	-
      Change in the balance of receivables	(16 445)	(7 004)
      Change in short-term liabilities, except loans and credits	(5 096)	2 800
      Change in the balance of prepayments and accruals	601	385
      Change in the balance of assets and provisions for deferred income tax	1 270	(513)
      Other adjustments	(985)	842
      Cash generated from operating activities	95 144	151 037
      Income tax paid	24 664	(5 152)
      Net cash flows from operating activity	119 808	145 885
      Expenditures on acquisition of intangible assets and property, plant and equipment	(23 931)	(23 312)
      Interest received	139	-
      Net cash flows from investing activity	(23 792)	(23 312)
      Dividends paid	(113 300)	(112 013)
      Interest paid	(322)	-
      Repayment of financial lease liabilities	(650)	(737)
      Loans and borrowings	10 000	-
      Repayments of loans and borrowings	(10 000)	-
      Net cash flows from financing activity	(114 272)	(112 750)
      TOTAL NET CASH FLOWS	(18 257)	9 823
      BALANCE SHEET CHANGE IN CASH, OF WHICH:	(18 257)	9 823
      - change in the balance of cash arising from foreign exchange differences	-	-
      CASH AT THE BEGINNING OF THE PERIOD	64 763	73 101
      CASH AT THE END OF THE PERIOD	46 506	82 924

      Wrocław, 26 February 2026

      Mariusz Ciepły

      Urszula Jarzębowska

      
      
      
      
      

      President of the Management Board

      Member of the Management Board Financial Director

      Joanna Alwin Responsible Accounting Officer

5. ‌COMMENTARY ON THE RESULTS, BASIS FOR PREPARATION OF THE FINANCIAL STATEMENTS AND ACCOUNTING PRINCIPLES APPLIED

   These condensed interim consolidated financial statements are presented in PLN thousands (Polish zlotys).

   These condensed interim consolidated statements were prepared assuming that the Group companies will continue as going concerns in the foreseeable future.

   At the end of Q3 of the financial year, MRR (monthly recurring revenue from subscription fees) - which, in the Management Board's opinion, best reflects the Text Group's underlying business growth -amounted to 6.98 million USD. This represents a 0.3% year-on-year decrease. The growth rate depends on numerous external and internal factors, including the economic situation in key markets, the pace of corporate adoption of AI technologies, and competitors' activities. Changes in the way people and organizations search for content online have had a significant negative impact on the pace and way new customers are acquired. Product development, on the other hand, may enable the Group to address the needs of enterprise-class customers more effectively.

   The Group's business indicators are simultaneously affected by many factors, including the economic situation in key markets (particularly the USA), product changes, marketing activities, competitors' activities, and other variables. According to customer feedback, the primary reasons for churn are business-related issues (such as company closure or strategic refocusing) and the absence of chat support. By contrast, factors related to pricing or product selection play a comparatively minor role.

   For results reported in Polish zloty (PLN), the PLN-USD exchange rate is a key factor, as the company generates virtually all of its revenue in USD. The company monitors exchange rate developments on an ongoing basis; at present, the only hedging measure applied is natural hedging, which involves incurring a portion of costs in dollars.

   The Management Board of the Parent Company analyses, on an on-going basis, the financial situation of the Group and the economic situation within the scope which might affect the financial results of the Group. The above-mentioned analyses do not indicate that there exists material operational risk and/or market risk (e.g., falling demand for solutions offered by the Group, loss of expected profitability of operating activity) which might pose a threat to the Group's continued operations.

   A factor that may have a significant impact on the Group's business environment in the coming quarters may be the development of AI (artificial intelligence) technology. The Group is working to introduce further AI-based functionalities (including those using solutions from external suppliers) into its products. The Group's objective is to deliver the greatest value to its customers, which should, in turn, support the Group's ongoing development and the growth of its financial results. However, rapid technological changes in the market may pose a serious threat to the Group's market position if it fails to adapt effectively. At the same time, the use of AI-based solutions may contribute to increased operational efficiency.

   1. ‌Declaration of compliance and basis for preparation, effect of changes of applied standards or interpretations

      These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standard No. 34, Interim Financial Reporting, as adopted by the EU ("IAS 34"). They do not include all the information and disclosures required for annual financial statements and should be read in conjunction with the Consolidated Financial Statements of the Text S.A. Capital Group for the year ended on 31 March 2025.

      These interim consolidated financial statements have been prepared in accordance with International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), and interpretations issued by the International Accounting Standards Board, as endorsed by the European Union (hereinafter referred to as "EU IFRS").

      The IFRS EU comprise standards and interpretations accepted by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC), approved for application in the EU.

      When preparing the separate and consolidated financial statements as at the balance sheet date, the Parent Company adopted all new and approved standards and interpretations issued by the International Accounting Standards Board and the International Financial Reporting Interpretations Committee, which are applicable to its business and approved for use in the EU.

      Standards, interpretations, and amendments to published EU-approved standards that are effective for the first time in reports for annual periods beginning on or after 1 January 2025:

      − Changes to IAS 21 The Effects of Changes in Foreign Exchange Rates clarifies the criteria for assessing whether a currency is convertible and for determining the spot exchange rate in cases of non-convertibility. It also requires disclosure of information that enables users of financial statements to assess the effects of non-convertibility on an entity's financial position. The provisions apply to annual reporting periods beginning on or after 1 January 2025, with early application permitted; however, comparative information may not be restated.

      The new and revised standards, which are applicable for the first time in financial year 2025/26, do not have a material impact on the Group's consolidated financial statements.

      In preparing these consolidated interim financial statements, the Group has not elected to early adopt any standard, interpretation or amendment that has been published but has not yet become effective under European Union regulations.

      Standards and interpretations that have been published by the International Accounting Standards Board, but have not yet come into force, are listed below:

      − Amendments to IFRS 7 and IFRS 9 Financial Instruments - effective for annual reporting periods beginning on or after 1 January 2026;

      − New IFRS 18 Presentation and Disclosure in Financial Statements - effective for annual reporting periods beginning on or after 1 January 2027;

      − New IFRS 19 Subsidiaries without Public Accountability: Disclosures - effective for annual reporting periods beginning on or after 1 January 2027;

      − New IFRS 14 Regulatory Accruals - in accordance with the European Commission's decision, the

      endorsement process for this draft standard will not be initiated until the final standard is published.

      The effective dates are based on the content of the standards issued by the International Financial Reporting Council. However, in the European Union, the application dates may differ and are announced at the time of their approval by the European Union.

      According to estimates of the Parent Company early application of the above-mentioned standards, interpretations and changes to standards would not have a material effect on these financial statements.

   2. ‌Description of the adopted accounting policies

      The accounting policies applied to preparation of these consolidated financial statements are coherent with the policies used for preparation of the annual consolidated financial statements for the financial year ended 31 March 2025.

      The statements were prepared according to the principle of historical cost. Presentation of financial statements

      The financial statements are presented in accordance with IAS 1.

      The "Consolidated statement of comprehensive income" is presented in the multiple-step format, whereas

      the "Consolidated cash flow statement" is presented using an indirect method.

      In case of retrospective introduction of amendments to accounting policies or error adjustments, the Company presents the statement of financial position additionally prepared for the beginning of the reference period.

      Consolidation

      The consolidated financial statements comprise the financial statements of the Parent Company and the financial statements of the company controlled by the Parent Company, i.e. the subsidiary, prepared as at 31 December 2025. The Parent Company is assessing whether it exercises control by applying the definition of "control" contained in IFRS 10. In accordance with the definition, an investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee.

      The financial statements of the Parent Company and the subsidiary covered by the consolidated financial statements are prepared as at the same balance sheet date. Where it is necessary, adjustments are made to the financial statements of the subsidiary in order to standardize the accounting policies used by the company to adapt to the policies used by the Group of Companies.

      The subsidiary is covered by consolidation using the full consolidation method.

      The full consolidation method consists in combining financial statements of the Parent Company and its subsidiary by way of aggregating full values of particular groups of assets, liabilities, equity, revenues and costs.

      In order to present the Group of Companies as if it were a single business entity, the following intercompany eliminations are made:

      • As at the moment of acquiring control the company's goodwill or profit are recognized,

      • Non-controlling interests are determined and presented separately,

      • Balances of settlements between Group companies and transactions (revenues, costs, dividends) are eliminated in full,

      • Gains and losses on intragroup transactions recognized at the carrying value of such assets as inventory and fixed tangible assets are subject to elimination. Losses on intragroup transactions are analyzed in terms of asset impairment from the Group's perspective,

      • The deferred tax due to temporary differences resulting from eliminating profits and losses on intragroup transactions is recognized.

      Foreign currency transactions

      The consolidated financial statements are presented in Polish zloty (PLN) which is the Parent Company's

      functional currency.

      Transactions expressed in currencies other than Polish zloty are converted to Polish zloty at the rate applicable at the date of the transaction (spot exchange rate).

      As at the balance sheet date, financial items in foreign currencies are translated into Polish zloty at the closing exchange rate at the end of the reporting period, that is the average exchange rate fixed for a particular foreign currency by the National Bank of Poland.

      Non-monetary items are measured in terms of historical cost in a foreign currency and shown at the historical cost value on the transaction day.

      Non-monetary balance sheet items recorded at their fair value, expressed in a foreign currency, are measured at the exchange rate as at the date of fair value determination, i.e. the average exchange rate determined for a particular currency by the National Bank of Poland.

      Intangible assets

      Intangible assets cover patents and licenses, software, research and development costs and other intangible assets that meet the criteria specified in IAS 38. The Group does not have any intangible assets with an unlimited period of use.

      Intangible assets as at the balance sheet date are carried at their cost less any accumulated amortization and any accumulated impairment losses. Intangible assets with finite useful life are amortized using straight-line method over the period of their useful economic life. Useful lives of particular intangible assets are verified annually and, if necessary, adjusted from the beginning of the following financial year.

      The annual amortization rates for costs of completed research and development are as follows:

      • 20% for LiveChat, HelpDesk and Text App solutions;

      • 30% for ChatBot and KnowledgeBase.

        The period was determined on the basis of duration of projects as part of which qualifying expenditures are incurred. Measurement of research and development is the aggregate net value of invoices issued by software developers dedicated to specific solutions (products).

        Costs connected with software maintenance, incurred in future periods, are recognized as period costs at the time they are incurred.

        Research and development costs are recognized in the income statement at the moment they are incurred. Expenditures directly connected with research and development are capitalized only if the criteria below are met:

        • Completion of an intangible asset is feasible from the technical point of view so that it can be intended for use or sale,

        • The Group intends to complete an asset and use or sell it,

        • The Group is capable of using or selling the intangible asset,

        • The intangible asset will bring economic benefits, and the Group can prove such benefits, for example by - the existence of such an item in the market or its usability for the Group needs,

        • The Group is provided with technical, financial or other sources necessary for completing research and development works with a view to selling or using the intangible asset,

        • Expenditures incurred in the course of research and development may be reliably measured and allocated to a particular intangible asset.

          Expenditures on research and development performed as part of a particular project are carried forward to the following period if they may be expected to be recovered in the future. Future benefits are assessed based on the policies set forth in IAS 36.

          After initial recognition of expenditures on research and development, the historical cost method is applied, in accordance with which assets are carried at their cost less any accumulated amortization and any accumulated impairment losses. Completed research and development is amortized using a straight line method over the foreseen period of their economic useful life, which on average is 3 years.

          Gains and losses arising from disposal of intangible assets are determined as the difference between net proceeds from sale and the carrying value of the intangible asset being disposed of.

          Such gains and losses are recognized in the financial result as other revenues or operating costs at the time the acquirer takes over control over the intangible asset in accordance with the requirements of IFRS 15. The amount of remuneration in the intangible asset disposal transaction is determined in accordance with the requirements of IFRS 15 relating to transfer pricing.

          Property, plant and equipment

          Property, plant and equipment is initially recognized at cost. The purchase price is increased by any costs directly connected with the purchase and bringing the asset to the usable state and condition.

          After initial recognition of property, plant and equipment, excluding land, it is then presented at its acquisition cost or manufacture cost less depreciation and impairment losses. Property, plant and equipment in progress is not depreciated until the construction or assembly is finished and the asset is put into operation.

          Assets are depreciated using the straight-line method for the estimated period of use of a particular asset. The annual depreciation rates applied by the Company are as follows:

        • computers - 30%;

        • adaptation of office space - 50%.

          Depreciation starts in a month following the month in which the fixed tangible asset becomes ready for use. Economic useful lives and depreciation methods are verified once a year, resulting in an adjustment, if any, of depreciation charges in the following years.

          Fixed tangible assets are divided into elements being items of a significant value, to which a separate useful life period can be assigned. A fixed tangible asset element can also be the cost of a major inspection as well as significant spare parts and equipment, if they are used over a period longer than one year. Current costs incurred after a fixed tangible asset commissioning, such as maintenance and repair costs, are recognized in the income statement on the day they are incurred.

          A particular item of property, plant and equipment may be removed from the statement of financial position after disposal or if no economic benefits are expected from further using of such asset. Gains or losses on sale, liquidation or cessation of use of fixed tangible assets are determined as the difference between revenues from sales and the net value of such fixed tangible assets.

          Such gains and losses are recognized in the result as other revenues or operating costs at the time the acquirer takes over control over an item of plant, property and equipment in accordance with the IFRS requirements. The amount of remuneration in the plant, property and equipment disposal transaction is determined in accordance with the requirements of IFRS 15 relating to transfer pricing.

          Financial instruments

          A financial instrument is any contract that gives rise to a financial asset of one party and a financial liability or equity instrument of another party.

          A financial asset or financial liability is recognized in the statement of financial position when the Group becomes a party to such instrument. Standardized transactions of purchase and sale of financial assets and liabilities are recognized as at the date of the transaction.

          A financial asset is excluded from the financial statements when the rights to cash flows from the financial asset expire or when the financial asset and basically the risk and benefits resulting from this asset are transferred on to another entity.

          The Group derecognizes a financial liability from its statement of financial position only when it ceases to exist, that means when the obligation specified in the contract was discharged, expired or cancelled.

          As at the acquisition date, the Group measures financial assets and liabilities at their fair value, i.e. usually at the fair value of payment made - in the case of an asset - or received - in the case of a liability.

          The Group includes the transaction costs in the initial value of all the financial assets and liabilities, except for assets and liabilities measured at their fair value through the consolidated statement of comprehensive income.

          As at the balance sheet date, financial assets or liabilities are measured according to the principles shown below:

          Financial assets

          According to IFRS 9, the Group classifies financial assets into the following categories:

        • measured at amortized cost (applies to instruments which, in case of a pre-mature payment cause that an entity gets a smaller payment than the sum of the principal amount and interest (so-called negative compensation),

        • measured at the fair value through other comprehensive income,

        • measured at the fair value through the financial result.

          The classification is made at the moment of the initial recognition of an asset. The classification of financial assets depends on a business model of financial asset management and on the characteristics of contractual cash flows (SPPI test) for a particular financial asset.

          In the category of assets measured at amortized cost, the Group classifies accounts receivable, granted loans that successfully passed the SPPI test, other receivables, deposits, cash and cash equivalents.

          Financial assets measured at amortized cost are measured at the amount of amortized cost using the effective interest rate method and taking into account any impairment losses. Accounts receivable with the maturity below 12 months from the date they arise (i.e. exclusive of a financing element) not transferred for factoring are not subject to discounting and are measured at the nominal value.

          In the category of assets measured at the fair value through other comprehensive income, the Group classifies a financial asset upon fulfilment of the following conditions:

        • it is maintained in a business model the purpose of which is to obtain contractual cash flows due to financial assets held or due to sale of financial assets, and

        • contractual conditions give the right to obtain on defined dates cash flows consisting only of the capital and interest on capital (i.e. successfully passed the SPPI test).

      The effects of changes of the fair value are recognized in other comprehensive income until the asset is no longer recognized in the statement of financial position, when the accumulated profit/loss is recognized in the statement of result.

      In the category of assets measured at the fair value through the financial result, the Group classifies all financial instruments that have not been classified as measured at the amortized cost or measured at the fair value through other comprehensive income.

      Gains and losses on a financial asset classified as measured at the fair value through the financial result are recognized in the financial result of the period in which they were generated (including revenues from interest and dividends).

      IFRS 9 introduced an approach to loss assessment with respect to financial assets measured at amortized cost. This approach is based on determining the expected losses, irrespectively of whether there were signs for impairment loss or not. Due to the specificity of the activities run (sales to counterparties with a low credit risk, the lack of impairment losses on financial assets determined on the basis of assessment made in the past, no historically significant unfulfilled liabilities, cooperation with financial institutions with a stable rating), the Group has not recognized in its consolidated statements any impairment losses on the grounds of expected losses, as it finds them insignificant.

      The Group does not apply hedge accounting, therefore the IFRS 9 standard does not apply here.

      Financial liabilities

      Financial liabilities other than hedging derivatives are presented in the following balance sheet items:

      • Accounts payable and other liabilities.

      After initial recognition, financial liabilities are measured at amortized cost by applying the effective interest method, save for held-for-trading financial liabilities or financial liabilities measured at their fair value through profit or loss.

      In the category of financial liabilities measured at their fair value through profit or loss, the Group recognizes derivative instruments other than hedging instruments. Short-term accounts payable are measured at the amount due on account of insignificant discount effects.

      Gains and losses on measurement of financial liabilities are recognized in profit or loss on financing activity. Cash and cash equivalents

      Cash and cash equivalents cover cash on hand and in bank accounts, as well as short-term investments of high liquidity, easily exchangeable for cash, with low risk of changing value.

      Equity

      The share capital is presented at the nominal value of issued shares in accordance with the Articles of Association of the Parent Company and the entry in the National Court Register.

      The Parent Company's shares which were purchased and retained by the Parent Company or consolidated

      subsidiaries reduce equity. Treasury shares are measured at cost.

      The capital from the sale of shares above their nominal value is created from the surplus of the issue price above the share nominal value decreased by the issuance cost.

      The other capitals comprise earnings retained by the Company.

      Provisions, liabilities and contingent assets

      Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Date of incurring as well as the amount of the obligation may be uncertain.

      Provisions are not recognized for future operating losses.

      Provisions are recognized at the estimate of the expenditure required to settle the present obligation, based on the most reliable evidence available as at the date of preparation of the consolidated financial statements, including evidence concerning risks and uncertainties.

      In case money impact in time is significant, the provision amount is determined by discounting the prospected future cash flows to the current value using a discount rate reflecting current market assessments of money value in time and the possible risk related to a particular obligation.

      If the discounting method is applied, the increase in the provision connected with the passing of time is recognized as financial cost.

      If the Group expects the costs covered by the provision to be reimbursed, e.g. under an insurance contract, the reimbursement is recognized as a separate asset, but only when it is reasonably certain that the reimbursement will be received. However, the value of the asset may not exceed the amount of the provision.

      In case outflow of resources for settling the present obligation is not possible, the contingent liability is not recognized in the balance sheet, except for contingent liabilities identified in the process of business combination according to IFRS 3.

      The Parent Company created, before the correction of errors, in particular provisions for servers' maintenance costs due to sales completed. Currently, due to the change in the recognition of net revenues from the sale of services, provisions for server maintenance costs are not created.

      Leasing

      IFRS 16 defines rules of recognizing certain leasing items in terms of measurement, presentation, and disclosure of information. According to IFRS 16, all contracts complying with the definition of leasing, or contracts that include leasing, are presented according to the model that has been applied to financial leasing contracts so far.

      Such contracts constitute a lease and have been recognized in accordance with a uniform model of lessee accounting, which entailed recognizing assets due to the right of use of buildings and liabilities thereto, which reflect the obligation to make lease payments.

      The Group owns a single agreement, which according to IFRS 16, meets the criteria of a lease - being a contract for the lease of the office and the registered office of the Parent Company.

      Revenues from sales

      IFRS 15 "Revenue from contracts with customers" was published by the IFRS Board on 28 May 2014 and

      applies to annual periods commencing on 1 January 2018 or after this date.

      In accordance with IFRS 15, revenues from sales of services, less value added tax, discounts and rebates are, recognized when the obligation to perform is fulfilled by providing the counterparty with a service.

      Revenues include received or due inflows of economic benefits to which the Group is entitled. Receivables from sales are amounts due or received for sales of assets and services, less applicable value added tax. The amount of revenues is determined at the fair value of payment received or due, taking into account any commercial discounts granted by the Group. Revenues from sales of services are recognized in the period in which the services were provided.

      The Group's business is mostly based on retail sales to the end client (individual or legal person). When a service purchase agreement is entered into, specified goods are immediately transferred via online distribution channels at the time payment is received by the financial intermediary (payment aggregator). In the course of ongoing business of the Group, agreements are continuously entered into with end clients with the use of agreements signed remotely (i.e. acceptance of the terms of service and payment on terms and conditions defined by the Group).

      According to the standard, variable amounts are not treated as revenues, unless there is a strong likelihood, that in the future they will be reversed as a result of revaluation. Recognition and revaluation in the standard are also applied to recognition and measurement of profit/loss on sale of non-financial assets, if such sale is not made in the regular course of the economic activities run.

      The Group presents the recognized revenues from contracts with customers divided into categories, which reflect the way economic factors affect the nature, amount, payment date and uncertainty of revenues and cash flows.

      Revenues from sales are exclusively revenues generated by contracts concluded with customers which are subject to IFRS 15. The way of treating revenues from sales in the consolidated financial statements of the Group, including the value as well as the moment of recognizing the revenues, is defined by a five-stage model consisting of the following steps:

      1. Identification of a contract with a customer - The Group recognizes a contract with a customer only if all of the following criteria are met: the parties have entered into a contract (in writing or electronically) and are obligated to perform their obligations; the Group can identify the rights of each party regarding the services to be transferred; the Group can identify the terms of payment for the services to be transferred; the contract has economic substance (i.e., the risk, timing, or amount of the Group's future cash flows can be expected to change as a result of the agreement); and it is likely that the Group will receive the consideration to which it is entitled in exchange for the services to be transferred to the customer.

      2. Identification of performance obligations - At the time of entering into a contract, the Group evaluates the services promised and identifies as a performance obligation any promise to transfer

         to the customer a service (or bundle of services) that can be distinguished, or a group of separate services that are substantially the same and transferred in the same manner. A service is considered separable if it meets both of the following conditions: the customer can benefit from the service either directly or through a link to other readily available resources; and the Group's obligation to transfer the service is separable from other obligations in the contract.

      3. Determination of transaction price - To determine the transaction price, the Group considers the terms of the contract and its customary business practices. The transaction price is the amount of remuneration that the Group expects to receive in exchange for providing the promised services to the customer, excluding amounts collected on behalf of third parties. The remuneration specified in the contract with the customer may include fixed amounts, variable amounts, or both.

      4. Assignment of transaction price to performance obligations - The Group assigns a transaction price to each performance obligation in an amount that reflects the consideration the Group expects to receive for providing the promised services to the customer.

      5. Revenue recognition during or after fulfilment of performance obligations - The Group recognizes revenue at the time of fulfilment, or during the process of fulfilment, of a performance obligation by transferring the promised service to the customer

      Almost 95% of the consolidated sales revenues of the Group are generated by its subsidiary - Text Inc. Revenues include 1- and 12-month or longer licenses for the Issuer's products offered in the B2B segment. Revenue is recognized in the period in which the service is provided - from the moment the contract is concluded until the license expires. Following IFRS 15, revenue deferred to subsequent periods is currently presented in the consolidated financial statements as a contractual liability that is settled when the service is provided. The settled contract obligation increases net revenues from the sale of services.

      In accordance with Terms and conditions of Text Inc., the company is entitled to make changes such as adding, removing, or modifying individual functionalities, and even discontinuing the provision of services, in particular when it is related to the need for their modification or further development. However, the service provider is not obliged to make such changes or updates. The support provided by the Company in no way relates to the infrastructure, equipment, or Internet access on the part of customers.

      Interest and dividends

      Interest revenues are recognized progressively as they accrue in accordance with the effective interest rate method. Dividends are recognized when the shareholder's right to receive payment is established.

      Operating costs

      Operating costs are recognized in the income statement using the matching principle. In its consolidated financial statements, the Group presents costs according to the respective cost centers.

      Income tax (incl. deferred tax)

      The tax charged to the financial result comprises current tax and deferred tax, which was not recognized in other comprehensive income or directly in equity.

      Current tax expense is calculated based on taxable income (taxable basis) for a given financial year. Taxable profit (loss) differs from the gross profit (loss) presented in the books due to a temporary transfer of taxable revenues and costs being the cost of obtained revenues to other periods and due to excluding revenue and cost items which will never be subject to taxation. Tax charges are computed based on tax rates in force in a given tax year.

      The Parent Company as a company that runs research and development activities gets its revenues from qualifying intellectual property rights and uses the preferential tax rate. The Company as of 22 October 2019 was granted an individual interpretation of tax law regulations concerning corporate income tax and issues related to preferential tax rates applied to income generated by intellectual property rights. In order to be eligible for the IP Box tax relief, the Company:

      • divides the taxable income into income from qualifying intellectual property rights and from other sources,

      • calculates the nexus ratio for income from qualifying intellectual property rights according to the rules defined in the Corporate Income Tax Act,

      • the nexus ratio is used for computing the amount of tax for each income source.

      Deferred income tax is calculated by applying the balance sheet method as tax payable or refundable in the future on differences between the carrying values of assets, liabilities and shareholders' equity and the corresponding tax values used for calculation of the taxable basis.

      Deferred income tax liability is recognized on all positive taxable temporary differences and deferred income tax assets are recognized up to the amount in which it is probable that future tax gains may be reduced by recognized negative temporary differences. Neither an asset nor provision is recognized if the temporary difference results from the initial recognition of assets or liabilities in a transaction which is not a business combination and which at the time of its occurrence does not have an impact either on the taxable or accounting result.

      Deferred income tax liabilities are not recognized for goodwill which is not subject to amortization under the provisions of tax law.

      Deferred income tax is calculated with the use of tax rates which will be applicable when the asset is recovered or the liability is settled, based on legal provisions applicable as at the balance sheet date.

      The value of deferred income tax assets is analyzed as at each balance sheet date, and in case the prospected taxable profits will not be sufficient to realize the asset or its part, a relevant impairment loss is recognized.

      Subjective judgement made by the Management Board and uncertainty of assessments

      While preparing the consolidated financial statements, the Management Board of the Parent Company follows judgement when making estimates and assumptions that affect the applied methods and the presented amounts of assets, liabilities, equity, revenues and costs. The actual results may differ from the estimates of the Management Board.

      Information on the estimates and assumptions which are significant for the consolidated financial statements is presented below.

      Judgments connected with research and development

      The Group begins capitalizing expenditures on research and development when it is possible to demonstrate that such works will constitute probable future economic benefits and provided that the Group has sufficient funds required for completion, use and derivation of benefits from an intangible asset. Fulfilment of both criteria, i.e. possibility to derive future economic benefits and having sufficient funds, is based on judgment of the Management Board arising from an analysis of the market and the Group's financial situation.

      Recognizing revenues from contracts with customers

      The Company recognizes revenues using the so-called five-step model provided for in IFRS 15. The revenues comprise only the amounts received or due that are equal to transaction prices the Company is entitled to after meeting (or when meeting) the obligation to render services, namely, to transfer the promised goods or services (that is an asset) to the customer.

      Revenue includes 1-, 12- and 36- month licenses. After the expiry of the free trial period in which the customer can learn about the product's functionalities, the fee for the subsequent periods is charged "in advance". All income is recognized as it is earned (at a point in time). The company is entitled to introduce changes such as adding, removing, or modifying certain functionalities, and even cessation of services, in particular in a situation where it is related to the need to modify or further develop them. However, the service provider is not obliged to make such changes or updates.

      The transaction price means the amount, to which, as the Company expects, the Company will be entitled to for transferring the promised goods or services, less VAT.

      Periods of economic useful life of non-current assets

      The Management Board of the Parent Company verifies annually (as at the balance sheet date) periods of economic useful life of non-current assets subject to amortization. As at 31 March 2025, the Management Board estimates that the economic useful life periods accepted by the Group for amortization purposes reflect the expected periods of receiving economic benefits from those assets in the future. However, the actual periods of receiving benefits from those assets in the future may differ from the assumed ones, also due to technical ageing of the assets.

      Provisions

      Provisions are recognized when the Group has an existing obligation (legal or customary) arising from past events. Also, when it is certain or highly probable that an outflow of resources reflecting economic benefits will be required to meet the obligation, and when a reliable estimate of the amount of the obligation can be made. The amount of created provisions is reviewed and updated at the end of the reporting period to adjust the estimates to those consistent with the Group's state of knowledge at that date.

      Deferred income tax assets

      Probability of settling deferred income tax assets with future taxable profits is based on the budget of the Group companies approved by the Management Board of the Parent Company. If the projected financial results show that the Group companies will generate taxable income, deferred income tax assets are recognized in full amount.

      Impairment loss on non-financial assets

      In order to determine the useful value, the Management Board assesses the projected cash flows and the rate at which the cash flows are discounted to the current value. In the process of measuring the current value of future cash flows, the projected financial results are assumed. The assumptions refer to future events and circumstances. The actually realized values may differ from the estimated ones, which in the following reporting periods may cause adjustments in the value of the assets of the Group.

      Expected credit losses on financial assets

      Losses relating to financial assets measured at amortized cost are assessed by determining the expected losses, independently of whether there were circumstances for impairment loss or not. Owing to the nature of the activities run (sales to customers with low credit risk, the lack of impairment losses on financial assets determined on the basis of assessments made in the past, no historical unfulfilled liabilities, cooperation with financial institutions that have a stable rating), the Group has not recognized any impairment losses in its consolidated statements on the basis of expected losses because it found them insignificant.

6. ‌ADDITIONAL INFORMATION AND EXPLANATIONS
   1. ‌Changes in the presentation and classification of financial statement items

      There were no changes in the presentation and classification of financial statement items during the reporting period.

   2. ‌Explanatory notes to the statement of financial position

The most important element of items other than buildings and structures is computer equipment. The buildings and structures are related to the recognized long-term office lease agreement, specifically for the headquarters of the Parent Company, in accordance with IFRS 16. As at 31 December 2025, there were no significant liabilities due to the purchase of fixed tangible assets.

The Group implemented IFRS 16 Leasing on 1 April 2019. As a result of application of the standard as at 1 April 2019, assets in the form of the right to use office space were recognized in the consolidated statement of financial position. These assets are disclosed in the consolidated statement of financial position under Property, plant and equipment, buildings and structures.

As at 31 March 2025, the office lease agreement entered into by the Company was converted into an agreement for an indefinite period. The Management Board estimates that the agreement will remain in force for a period of 60 months from that date. Accordingly, a right-of-use asset in the amount of (PLN thousand) 5,006 was recognized. At the same time, the previously existing asset related to the lease of the same office space was derecognized in the amount of (PLN thousand) 4,756 (gross value plus accumulated depreciation, resulting in a net carrying amount of zero).

The value of the machinery and equipment purchased in the current period amounted to 720,000 PLN. As at 31 December 2025, there were no other liabilities due to the purchase of fixed tangible assets.

The table below presents the main items of development work related to applications

A significant component of intangible assets is costs of non-completed research and development connected with subsequent versions of products offered by the Group, with the value of PLN (thousand) 5,012 as at 31 December 2025 (as at 31 March 2025 - PLN (thousand) 4,943).

Costs of non-completed research and development relate to products put into service (LiveChat, ChatBot, HelpDeks, KnowledgeBase, and Text App), i.e., released for production. Such costs only include direct expenditures on services connected with the development of applications such as programming services or testing services. All expenditures on development works incurred in the period of approx. 2 months are then accepted as costs for production (once a product is made available to customers).

LiveChat, ChatBot, and HelpDesk products account for nearly 100% of the Group's net sales revenues and, therefore, constitute complete cash-generating units.

The Parent Company conducts an impairment test for the expenditure incurred on development works. As a result of the impairment test carried out as at 31 March 2025, it should be stated that there was no impairment of the expenditure incurred on development works. In addition, it should be noted that there are no decreases in the costs of unfinished development works because all expenses for development works incurred in the period of approx. 2 months are then accepted for production and spent. The next impairment test for the expenditure incurred on development works will be carried out on 31 March 2026.

The recoverable amount of cash-generating units to which the costs of unfinished development work with an indefinite useful life have been allocated was determined based on the value in use calculated on the basis of a cash flow forecast.

The main assumptions made to determine the value in use concerned:

− profitability of sales of services;

− the level of capital expenditure;

− the level of involvement of working capital;

− a discount rate based on the weighted average cost of capital and reflecting current market assessments of the time value of money and operating risks.

The impairment test was performed on the basis of the following assumptions in two scenarios: