*In 2016 Group transitioned to IFRS accounting standards. FY 2015 is restated. Therefore historical data may not be comparable. Data in EUR/m. Source: Company and Group financial
statements
Current Perimeter
Growens S.p.A.
~160
employees
Based in 2 continents
Agile Telecom S.p.A. Bee Content Design, Inc.
Revenue Distribution 1H 2025
Beefree
Agile Telecom
CPaaS 80%
Agile Telecom -4% YoY
SaaS 19%
Beefree +22% YoY
Europe 47%
-32%YoY
USA 38%
+36%YoY
Italy 34%
+52%YoY
RoW 4%
+18%YoY
SaaS incidence
North America Presence
Chapter 1 What's Up
Local presence: BEE Content Design, Inc.
Based in San Francisco, 97% owned by Growens
130 employees (36 in USA: CEO, M&S, Support functions)
9,800 paying clients including 1,100+ SaaS applications
Market leader in email and landing page creation technology
Consolidated North America results:
USD 11m* Revenues as of 1H 2025
USD 17m ARR (+14% YoY growth) as of September 2025
* Beefree revenues + revenues from other Growens BUs in the area
Representative list of our past and current clients. Logos are the property of the respective businesses and are for illustrative purposes only
growens.io 8
M&A
2023 2023 2024
ESP Sale
Sale of
MailUp business (carve-out from Growens)
100% of Contactlab S.p.A.
100% of Acumbamail S.L.
100% of MailUp Nordics/Globase
Eur 76.7 ml total gross consideration
Datatrics Sale
Sale of
100% of Datatrics BV
Euro 1.6 ml total cash consideration
2024 RGE Acquisition
Acquisition of RGE's assets
USD 6.6 million total consideration
up to 600k in cash
up to 6M earn-out, o/w up to 3M in Growens shares
€76.7m
cash
€1.6m
cash
€0.6m
cash
Up to 3m shares
Value Creation
2023
Voluntary Partial Tender Offer
Offer price €6,80 per share
• +15,7% premium over the 3-month average price @ announcement
2.6 million shares, or 17.2% of the share capital
Euro 18 million cash
€18m
cash
2024 2025
Dividend Scrip Dividend
37.5% payout on the consolidated net income for 2023
28.2% dividend yield at proposal current prices
Euro 1.58 per share
Euro 20 million cash
9% dividend yield at proposal current prices
Euro 0.38 per share
1 share for every 8 held
implicit value of allocated shares = Euro 3.04 per share
Euro 0.9 million cash
1.3 million shares
€20m
cash
€1m
cash
1.3m
shares
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Growens S.p.A. published this content on December 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 02, 2025 at 11:15 UTC.
Growens SpA, formerly known as MailUp SpA, is an Italy-based company engaged in the Internet services industry. The Company is active in direct marketing, through the field of the email services. Growens SpA is a digital platform, which is used for managing and sending newsletters, short message service (sms) and faxs. It combines campaign management tools, through triggered messages, dynamic content, flexible A/B testing and social features, with a simple mail transfer protocol (SMTP) relay service and plug-in for ecommerce, customer relationship management (CRM) and content management systems (CMS). The Company operates through a number subsidiaries, including gile Telecom SpA, MailUp Inc, Network Srl, Denmark A/S, Globase International ApS and Acumbamail SL. It is active in the domestic market, as well as in Spain, the United States and Latin America Spanish-speaking countries, among others.
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