CM.com N.V.: Q3 Trading Update 2024 - CM.com reports record Gross profit for the second quarter in a row, improves EBITDA outlook

In Q3 2024, CM.com reported the second consecutive quarter of record Gross profit. Compared to the same period in 2023, number of messages and pay volumes increased. Annual Recurring Revenue grew for the 14th consecutive quarter, while margins improved and OPEX decreased by 19%. Operational momentum remained good as new applications were developed and new order intake continued to grow, both locally and internationally. A notable innovation is the launch of the AI Playground tool, earlier this week. It is the first tool of its kind that enables companies to experiment with AI in their business model. Following the good performance so far this year, CM.com improves its 2024 EBITDA outlook to € 16-18 million, while keeping OPEX and Free Cash Flow guidance unchanged.

Breda, The Netherlands, 18 October 2024

Q3 2024 Highlights

• EBITDA grew YoY to € 4.7 million, compared to € -0.8 million in Q3 2023
• Gross profit grew 6% YoY to € 21.1 million

• Gross margin improved to 32.2% versus 31.6% in Q3 2023
• Normalized OPEX decreased 19% YoY to € 16.4 million
• Number of FTE decreased 14% YoY to 676
• Revenue grew 3% YoY to € 65.4 million
• Annual Recurring Revenue grew 7% YoY to € 33.6 million

Q3 2024 Business Highlights

• CM.com is selected to become the primary and exclusive ticketing platform for a main attraction in Paris with 12-14 million visitors expected annually
• CM.com completed the development of its "GenAI Playground" tool, which enables customers to discover the AI use case in their businesses, compliant with EU legislation. The launch of the tool was earlier this week and confirms CM.com's role as leading innovator in GenAI solutions in Europe
• CM.com expanded the contract with a renowned Dutch retail chain store, to renew their physical infrastructure in 1300 stores across Europe
• CM.com successfully sold tickets for the TeamNL House during the Olympic Games in Paris • Rich Communication Services (RCS) has been launched as a new channel for our Connect product portfolio

Outlook

• CM.com improves the guided range for EBITDA to € 16-18 million from € 14-18 million for FY 2024 • CM.com reiterates its guidance of Normalized OPEX to decrease at least 15% YoY in FY 2024 • CM.com reiterates to turn Free Cash Flow positive in H2 2024

Download press release:
https://www.cm.com/cdn/web/en/file/investor-relations/q3-trading-update-2024-cmcom.pdf