Informazione
Regolamentata n.
20054-22-2026Data/Ora Inizio Diffusione 15 Settembre 2026 18:00:24Euronext Growth Milan
Societa' :GROWENS
Utenza - referente :GROWENSN01 - Capelli Micaela Cristina
Tipologia :1.2
Data/Ora Ricezione :15 Settembre 2026 18:00:24 Data/Ora Inizio Diffusione :15 Settembre 2026 18:00:24 Oggetto :1H 2026 Testo del comunicato
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1 PRICE SENSITIVE PRESS RELEASE The Board of Directors approved the consolidated half-year report as of 30 June 2026 Consolidated REVENUES of EUR 40.3M, +11.5% Consolidated EBITDA of EUR 1.2M BEEFREE’s growth 9% Consolidated NET RESULT of EUR -1.4M Consolidated NET FINANCIAL POSITION of EUR 9.2M cash Milan, 15 September, 2026 – Growens S.p.A. - ticker GROW - (the “Company” or the “Issuer” or “Growens”), a company admitted to trading on the multilateral trading facility AIM Italia and operating in the cloud marketing technology field, has announced today that the Board of Directors passed a resolution to approve the consolidated report for the six-month period ended on 30 June 2026, prepared in compliance to IAS/IFRS accounting standards. Consolidated figures show ● revenues increasing by 11.5% in 1H 2026, of 40.3M EUR, vs 36.2M EUR in 1H 2025; and ● a back-to-black EBITDA figure of 1.2M EUR, improving vs. -0.2 in 1H 2025. “The first half of 2026 marks a turning point in the Group's profitability: revenues grew by 11.5% and EBITDA returned to positive territory at 1.2 million Euro, after the negative margin recorded in the same period of 2025. This is the result of continued growth across both Business Units, combined with strict cost discipline, with costs down by almost 4% year on year. Our balance sheet remains solid, with a net cash position of over 9.2 million Euro and cash and cash equivalents in excess of 16.7 million: a position that allows us to keep investing in innovation and in the quality of our products with full autonomy." Matteo Monfredini, Chairman and founder of Growens
2 “The investment in Beefree has generated ARR of over 18.4 million US Dollars as of June 2026, with revenues up 9% at constant exchange rates and the EBITDA loss cut by two thirds, to 0.5 million Euro. We confirm the path that will take us to positive cash flows by 2028. The new paradigm brought by artificial intelligence is reshaping the competitive landscape, and we are decisively reallocating our R&D resources to seize the new opportunities: we want to make the creation of digital content ever simpler, not only for designers but also for AI agents. In parallel, Agile Telecom confirms the validity of its strategy focused on operating profitability, with revenues up 13% and EBITDA up 21%, at 1.4 million Euro” Nazzareno Gorni, CEO and founder of Growens Summary of 1H 2026 results The main results for the semester ended 30 June 20264 are as follows: Item (EUR) 1H 2026 % 1H 2025 % Change Ch.% SaaS Revenues 7,715,016 19.1% 6,888,384 19.0% 826,632 12.0% CPaaS Revenues 32,201,256 79.8% 28,749,968 79.5% 3,451,288 12.0% Other Revenues 423,193 1.0% 532,204 1.5% (109,011) (20.5%) TOTAL REVENUES 40,339,465 100.0% 36,170,555 100.0% 4,168,909 11.5% Gross Profit 10,509,198 26.1% 9,485,721 26.2% 1,023,477 10.8% EBITDA 1,194,346 3.0% (205,908) (0.6%) 1,400,253 n.m. EBT (911,908) (2.3%) (2,233,363) (6.2%) 1,321,455 59.2% The SaaS division (Software-as-a-Service) includes services supplied to clients via cloud platforms, sold through mostly recurring multi-period contracts / c.d. subscription mainly by the Business Unit Beefree. The CPaaS division (Communication-Platform-as-a-Service) covers the messaging services provided on a wholesale basis using APIs, supplied by the Agile Telecom Business Unit. Here follow the half-year Group results by business unit as of 30 June 2026: in Euro REVENUES EBITDA 30/06/2026 30/06/2025 % 30/06/2026 30/06/2025 % Agile Telecom 32,559,204 28,824,478 13.0% 1,415,723 1,167,157 21.3% Beefree 7,557,624 7,034,685 7.4% (457,054) (1,380,058) 66.9% Growens 7,118,183 7,361,854 (3.3%) 193,929 226,596 (14.4%) Consol. Adj. (6,895,547) (7,050,463) 2.2% 41,748 (219,603) n.m. Total 40,339,465 36,170,555 11.5% 1,194,346 (205,908) n.m.
3 The consolidated net financial position as of 30 June 2026 is the following: Consolidated Net Financial Position 30/06/2026 31/12/2025 Change Ch.% A. Cash 3,552,955 2,115,042 1,437,913 68.0 % B. Cash equivalents C. Assets held for sale 13,221,903 13,359,098 (137,195) (1.0%) D. Cash and cash equivalents (A) + (B) + (C) 16,774,858 15,474,140 1,300,718 8.4 % E. Current debt 6,189,566 2,494,034 3,695,532 148.2 % F. Current part of non-current debt 510,916 989,588 (478,672) (48.4%) G. Current financial position (E) + (F) 6,700,482 3,483,622 3,216,860 92.3 % H. Net current financial position (G) - (D) (10,074,376) (11,990,518) 1,916,142 (16.0%) I. Non-current debt 831,096 807,180 23,916 3.0 % J. Debt financial instruments K. Trade and other non-current debt L. Non current financial position (I) + (J) + (K) 831,096 807,180 23,916 3.0 % M. Net financial position (H) + (L) (9,243,280) (11,183,338) 1,940,058 (17.3%) Other long term financial activities (1,180,142) (1,172,662) (7,481) 0.6 % o/w E. Current financial liabilities Rights of Use IFRS 16 410,458 457,099 (46,641) (10.2%) o/w I. Non-current financial liabilities Rights of Use IFRS 16 563,591 597,677 (34,086) (5.7%) N. Net adjusted financial position (11,397,471) (13,410,775) 2,013,304 (15.0%) ESMA guidelines 32-382-1138 of 04/03/2025 par. 175 guideline 39 Comments to 1H 2026 results 1H 2026 P&L posts total Revenues around 40.3M EUR, showing an 11.5% increase versus 36.2M EUR in the same period of 2025, driven by growth in both business units. The SaaS component grew by 12%, representing roughly 19% of total revenues; the CPaaS line grew by 12%, accounting for about 80% of total revenues. The decrease in other revenues mainly reflects the change in certain non-recurring extraordinary items related to the disposal of the ESP business and grants on R&D. The Agile Telecom Business Unit posted the biggest revenues of ca. 32.6M EUR, increasing by 13% over the same period of the previous year, in constant pursuit of prioritizing higher-margin contracts. Beefree (beefree.io), posted a 9% (or 7.4% in Euro) increase in revenues, at 7.6M EUR or 8.8M USD turnover, driven by increasing volumes. ARR (Annual Recurring Revenues, a very popular key performance indicator for a subscription business, showing the average annual recurring value of existing contracts) amounts to 18.4M USD as of June 2026. Foreign revenues amount to 30.3M EUR, representing ca. 76% of total revenues, increasing by 17.4% vs 1H 2025. Recurring revenues amount to 7.7M EUR, growing ca. 12%. In 1H 2026 Gross Profit reaches 10.5M EUR, with a revenue incidence above 26%, up 11% compared to 2025. The COGS component increases in line with revenues (11.8%), with the same incidence on revenues as the previous year. The rising cost items increase reflect the investments made to develop the Beefree Business Unit, specifically in the Sales & Marketing component (+5.8%) while both Research & Development expenses (-11.6% on the expensed component) and general expenses (-8.3%) were kept under control. At consolidated level, EBITDA is once again positive at approximately 1.2M EUR, while
4 Beefree's standalone EBITDA is negative by approximately 0.5 million Euro, a significant improvement compared with the same period of 2025. EBT is negative by ca. 0.9M EUR, after 2.3M EUR depreciations. IFRS16-related amortizations amount to 0.3M EUR, decreasing by 3% YoY, whereas R&D amortizations grow by 11% to 1.9M EUR in 1H 2026. The Net result in 1H 2026, after current and deferred taxation estimates, amount to ca. -1.4M EUR. The allocated tax figures are figurative, provided that consolidated taxation results from the aggregate amounts of individual taxation, applied on each legal entity. The consolidated Net Financial Position as of 30 June 2026 exceeds 9.2M EUR cash, decreasing versus the previously recorded net cash amount of 11.2M EUR as of 31 December, 2025, with a variation largely attributable to certain net working capital dynamics for Agile Telecom for ca. 2.5M EUR and the advance relating to the refund of the Group's VAT receivable for 3.7M EUR. In terms of cash flows and short-term financing, the period was characterised by specific transactions aimed at optimising working capital and financial flexibility. Figurative debt from IFRS 16’s adoption amounts to ca. 1M EUR. Cash and equivalents exceed 16.7M EUR. The approved data have been submitted to BDO Audit Services, for the voluntary limited review. Consolidated P&L, balance sheet and cash flow statement are attached. Investor Relations The Half-Year Consolidated Report as of 30 June 2026 will be available to the public as per EGM regulations as well as on Growens’ website www.growens.io, Section ‘Investor Relations/Financial Statements’. This press release is online on www.emarketstorage.com and on the Issuer website www.growens.io, Section ‘Investor Relations/Press Releases’. The updated corporate presentation, including 1H 2026 data and main KPIs per Business Unit will be available to the public on the Issuer website www.growens.io, Section ‘Investor Relations/Presentations’. Growens’ Chairman and CEO will comment 1H 2026 results in a conference call to be held on 17 September 2026 at 4,00 pm CET, accessible at this link: https://meet.google.com/tzq-wmfy-aby.
5 CONSOLIDATED PROFIT & LOSS AS OF 30/06/2026 Item 30/06/2026 % 30/06/2025 % Change Ch.% SaaS Revenues 7,715,016 19.1% 6,888,384 19.0% 826,632 12.0% CPaaS Revenues 32,201,256 79.8% 28,749,968 79.5% 3,451,288 12.0% Other Revenues 423,193 1.0% 532,204 1.5% (109,011) (20.5%) Total Revenues 40,339,465 100.0% 36,170,555 100.0% 4,168,909 11.5% COGS 29,830,266 73.9% 26,684,834 73.8% 3,145,433 11.8% Gross Profit 10,509,198 26.1% 9,485,721 26.2% 1,023,477 10.8% Sales & Marketing costs 3,600,918 8.9% 3,402,174 9.4% 198,743 5.8% Research & Development Opex 1,484,969 3.7% 1,679,855 4.6% (194,886) (11.6%) R&D Capex (1,765,531) (4.4%) (1,818,477) (5.0%) 52,946 (2.9%) R&D costs 3,250,500 8.1% 3,498,332 9.7% (247,831) (7.1%) General & Admin Costs 4,228,966 10.5% 4,609,600 12.7% (380,634) (8.3%) Total Costs 9,314,852 23.1% 9,691,629 26.8% (376,776) (3.9%) EBITDA 1,194,346 3.0% (205,908) (0.6%) 1,400,253 n.s. General Depreciation Costs 86,993 0.2% 112,461 0.3% (25,467) (22.6%) Right of Use Amortization Costs 257,803 0.6% 266,071 0.7% (8,268) (3.1%) R&D Amortization Costs 1,911,767 4.7% 1,719,226 4.8% 192,540 11.2% Other Depreciations 2,256,563 5.6% 2,097,758 5.8% 158,805 7.6% EBIT (1,062,218) (2.6%) (2,303,666) (6.4%) 1,241,448 53.9% Net financial income/(charges) 150,309 0.4% 70,302 0.2% 80,007 113.8% EBT (911,908) (2.3%) (2,233,363) (6.2%) 1,321,455 59.2% Current Income Taxes (324,806) (0.8%) (298,251) (0.8%) (26,555) (8.9%) Deferred Taxes (123,692) (0.3%) 159,201 0.4% (282,893) n.m. Net Profit (Loss) (1,360,407) (3.4%) (2,372,413) (6.6%) 1,012,007 42.7% Group Net Profit (Loss) (1,317,187) (3.3%) (2,315,892) (6.4%) 998,705 43.1% Minority Net Profit (Loss) (43,220) (0.1%) (56,521) (0.2%) 13,301 23.5% Data in €
6 CONSOLIDATED BALANCE SHEET AS OF 30/06/2026 Item 30/06/2026 31/12/2025 Change Ch % Tangible fixed assets 190,177 224,335 (34,158) (15.2%) Right of Use 1,000,880 1,096,462 (95,581) (8.7%) Intangible fixed assets 7,176,723 6,913,198 263,525 3.8% Goodwill 8,498,292 8,498,292 0 0.0% Equity investments in associates and joint ventures 512,903 497,919 14,984 3.0% Other non-current assets 1,355,727 1,339,132 16,594 1.2% Deferred tax assets 3,636,538 2,336,641 1,299,897 55.6% Total non-current assets 22,371,241 20,905,979 1,465,261 7.0% Receivables from customers 10,908,023 12,355,898 (1,447,874) (11.7%) Other current assets 23,260,464 21,018,730 2,241,734 10.7% Cash and cash equivalents 3,552,955 2,115,042 1,437,913 68.0% Total current assets 37,721,443 35,489,671 2,231,772 6.3% Total assets 60,092,684 56,395,650 3,697,034 6.6% Share capital 384,834 384,834 0 0.0% Reserves 31,394,644 33,284,072 (1,889,428) (5.7%) Profit (Loss) for the period (1,317,187) (2,255,455) 938,268 (41.6%) Net Equity (third parties) (6,946) 34,269 (41,215) (120.3%) Total equity 30,455,344 31,447,719 (992,375) (3.2%) Payables to banks and other financiers 267,506 209,504 58,002 27.7% Liabilities Right of Use long-term 563,591 597,677 (34,086) (5.7%) Provisions for risks and charges 41,667 533,333 (491,666) (92.2%) Provisions for personnel 1,212,261 1,186,278 25,983 2.2% Deferred taxes 2,704,282 1,340,040 1,364,242 101.8% Total non-current liabilities 4,789,307 3,866,831 922,475 23.9% Trade and other payables 11,184,436 11,710,499 (526,062) (4.5%) Due to banks and other lenders short term 6,290,024 3,026,523 3,263,500 107.8% Liabilities Right of Use short-term 410,458 457,099 (46,641) (10.2%) Other current liabilities 6,963,115 5,886,978 1,076,137 18.3% Total current liabilities 24,848,033 21,081,099 3,766,934 17.9% Total Liabilities 60,092,684 56,395,650 3,697,034 6.6% Data in €
7 CONSOLIDATED CASH FLOW STATEMENT AS OF 30/06/2026 Consolidate Cash Flow statement 30/06/2026 30/06/2025 Period profit/(loss) (1,360,407) (2,372,413) Income tax 324,806 298,251 Prepaid/deferred tax 123,692 (159,201) Interest expense/(interest income) (149,748) (205,948) Exchange (gains)/losses (561) 135,645 (Dividends) (Gains) / losses arising from the sale of assets 1 Year profit/(loss) before income tax, interest, dividends and capital gains/losses on disposals (1,062,218) (2,303,666) Value adjustments for non-monetary elements that have no equivalent item in net working capital: Provisions for TFR 180,620 204,264 Other provisions 164,093 77,786 Amortization and depreciation of fixed assets 2,200,804 2,019,972 Write-downs for permanent losses in value Other adjustments for non-monetary items 280,892 2 Cash flow before changes in NWC 1,764,192 (1,644) Changes to net working capital Decrease/(increase) in trade receivables 1,392,115 (337,796) Increase/(decrease) in trade payables (526,062) (1,305,111) Decrease/(increase) in accrued income and prepaid expenses (282,447) 87,159 Increase/(decrease) in accrued liabilities and deferred income 715,278 141,743 Increase/(decrease) tax receivables (2,181,119) (1,282,793) Increase/(decrease) tax payables (160,185) 396,880 Increase/(decrease) other receivables (268,168) 338,514 Increase/(decrease) other payables 521,044 (260,720) Other changes in net working capital 216,599 (50,015) 3 Cash flow after changes in NWC 1,191,246 (2,273,782) Other adjustments Interest collected/(paid) 93,887 22,487 (Income tax paid) (571,266) (10,096) (Gains) / losses arising from the sale of current assets Dividends collected (Use of provision) (640,561) 4 Cash flow after other adjustments 73,306 (2,261,391) A Cash flow from operations 73,306 (2,261,391) Tangible fixed assets (6,121) (23,408) (Investiments) (6,121) (23,408) Divestment realisation price Intangible fixed assets (2,166,246) (1,598,212) (Investiments) (2,166,246) (1,598,212) Divestment realisation price Financial fixed assets (31,579) (39,391) (Investiments) (31,579) (39,391) Divestment realisation price Financial not fixed assets 490,000 442,000 (Investiments) Divestment realisation price 490,000 442,000 Acquisition or sales of subsidiaries companies B Cash flow from investments (1,713,946) (1,219,011) Minority interest funds 3,078,554 1,837,671 Increase (decrease) in short-term payables to banks 3,742,173 2,561,930 Stipulation of loans Repayment of loans (663,619) (724,260) Own funds
8 Capital increase by payment Sale (purchase) of treasury shares Paid dividends (926,657) Change to share premium reserve C Cash flow from loans 3,078,554 911,013 Increase (decrease) in liquid funds (A ± B ± C) 1,437,913 (2,569,388) Initial cash and cash equivalents 2,115,042 4,970,777 Final cash and cash equivalents 3,552,955 2,401,389 Change in cash and cash equivalents 1,437,913 (2,569,388) Data in €
9 Growens (GROW) is a leading European player in the field of Cloud Marketing Technologies, serving thousands of clients worldwide. Its SaaS and CPaaS solutions allows SMEs and large corporations globally to master the evolving ways of communicating with customers. Starting from the original business MailUp the Group grew steadily since 2002, both organically and via M&A, peaking with the launch of innovative products such as BEEfree.io. The company is admitted to trading on the Euronext Growth Milan (EGM) market managed by the Italian Stock Exchange, with a free float above 35%. ISIN IT0005040354 - Reuters: GROW.MI - Bloomberg: GROW IM Media & Guidelines: https://growens.io/en/media-guidelines For further information please contact: Growens Investor Relations Micaela Cristina Capelli +39 02 71040485 investor.relations@growens.io Growens Press Office Maria Giulia Ganassini +39 02 89603080 press@growens.io growens.io Euronext Growth Advisor BPER Banca +39 051 2756537 growens@bper.it
Fine Comunicato n.20054-22-2026 Numero di Pagine: 11