Business Plan

2022 B - 2023/2024 E

January, 27th 2023

B - budget

E - estimate

Deliver Balanced Growth and Profitability

consolidated data

  • Revenue: 31-33MM

2022

•

EBITDA: (14) - (12) MM

•

Annual recurring revenue: 17.5-19.5MM

• Revenue: 38MM

2023

• EBITDA: 6MM

  • Annual recurring revenue: 27MM
  • Revenue: 49MM

2024

• EBITDA: 16MM

  • Annual recurring revenue: 37MM

Operational Drivers

Gross margin improvement

Cost decline ~25% YoY in 2023

    • Platform "start-up" costs over
    • Gain deployment efficiency for platform
    • Repeatable solutions to lower customization costs
    • Partner-ledcustomer integrations
  • Peak investment complete in 2022
  • Optimized go-to-market investments
  • Reduced external and G&A costs

• Continue US acceleration

Achievable growth targets in core markets • Grow with partners

• Build on Italian base

• Drive select key account growth in Europe

Focus on core verticals/solutions

  • Insurance/financial services
  • Life sciences/health care
  • Intelligent automation

3

Business Transformation

2020-2022

Transformation Investment

Developed best-in-class AI language technology

  • Best practice, cost-effective technology design for Global 1000 enterprise customers
  • Hybrid AI approach is a unique and critical competitive advantage

Transitioned to SaaS model with higher revenue quality/cash generation

  • ~1.6X annual recurring revenue (ARR) growth since 2020
  • Offset legacy revenue decline with recurring revenue growth

Built go-to-market engine

  • Grew awareness and consideration in US market
  • Focus on "land and expand" repeatable solutions in core verticals/use cases

Accelerated growth in US

  • US enterprise business 2022 outlook >2.5X YoY and ~30% of core revenue
  • Strong 2023 pipeline in insurance/finance, life sciences/health care, automation

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Expert System S.p.A. published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2023 19:39:03 UTC.