Pexip Holding ASA · OSL:PEXIP
Pexip Holding ASA — Q3 2026 Earnings Presentation
25 slides from Pexip Holding ASA's earnings presentation, Nov 5, 2026
Slide 1: Quarterly Presentation Q3 2026
Quarterly Presentation Q3 2026 November 5th, 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer These materials have been produced by Pexip Holding ASA (the "Company“, and with subsidiaries the “Group”). The materials have been prepared for the exclusive use of persons attending an oral briefing and meeting to which these materials relate given by a representati
Slide 3: Software-only Secure Video Communication technology
Software-only Secure Video Communication technology Secure meetings is our DNA Pexip Secure & Custom Spaces Video meetings that are self-hosted ~75% 80 MUSD 27% on-premises or in a private cloud of customers are in ARR from security- growth in secure security-sensitive oriented use cases meetings in
Slide 4: Continued growth and further improved profitability
Continued growth and further improved profitability Total ARR Adjusted EBITDA1 Free Cash flow2 USDm USDm, Last twelve months USDm, Last twelve months +56% +17% +53% 44.9 140.2 143.5 (32%) 43.7 135.0 40.4 131.0 38.8 (31%) 122.2 (30%) 37.9 30.2 32.9 32.9 28.8 (26%) (25%) 28.5 Q3’25 Q4’25 Q1’26 Q2’26 Q
Slide 5: Three key drivers for Secure & Custom meetings
Three key drivers for Secure & Custom meetings Sovereignty is driving Secure Video AI and quantum compute software procurement communication is growing in demands new security decisions key Government verticals measures Self-hosted and sovereign-cloud Strong long-term outlook in core Need for secure
Slide 6: Our technology is uniquely positioned for this opportunity
Our technology is uniquely positioned for this opportunity PEXIP DIFFERENTIATORS WHY IT MATTERS TO CUSTOMERS 1 Deploys in all infrastructures Sovereignty requirements and network-centric security need software to fit into a compartmentalized structure Seamlessly connect a wide range of hardware, sof
Slide 7: Pexip offerings
Pexip offerings Commercial applications Our media engine excels in connecting a vast range of HW & SW platforms 1.Secure Meetings • Office collaboration meetings Meeting platforms AI • Workflow meetings between Teams · Zoom · Google Meet Private AI · Mistral · Llama · organizations and customers · W
Slide 8: Pexip enables private use of AI and Custom work-flows
Pexip enables private use of AI and Custom work-flows Real-time and post-meeting AI summaries Transcripts, notes, recaps and decisions from a self-hosted, private AI model CC Real-time multi- language translation Live captions and subtitles across languages 8
Slide 9: Pexip has become a global leader in Secure Video Communication
Pexip has become a global leader in Secure Video Communication High Defense & National Security INTEGRATION FLEXIBILITY Government Healthcare Low Regulated industries / Enterprise Public Cloud/ Self hosted/Sovereign Cloud/ Global SaaS On-premises INFRASTRUCTURE
Slide 10: Sales update
Sales update 10
Slide 11: Secure and Custom Spaces and Connected Spaces ARR
Secure and Custom Spaces Connected Spaces +3.8m ARR change Q-o-Q USD -0.6m ARR change Q-o-Q USD 68.0m ARR USD End of Q3 2026 75.5m ARR USD End of Q3 2026 27% Y-o-Y growth Q3 2026 10% Y-o-Y growth Q3 2026 11
Slide 12: Key Wins in Q3 2026 Secure & Custom Spaces
Key Wins in Q3 2026 Secure & Custom Spaces Accelerated focus on sovereign Winning in classified, mission- solutions and data control critical environments Large wins: Large wins: • Pexip displaced the incumbent video • Pexip was chosen to video enable tactical platform in a European Ministry of Just
Slide 13: Key Wins in Q3 2026 Connected Spaces
Key Wins in Q3 2026 Connected Spaces Solving interoperability across mixed platform estates Large win: A major US Insurance and Financial Services provider rolled out Pexip Connect for Microsoft Teams Rooms and Zoom Rooms Large win: A UK Public Sector organization chose Pexip as their infrastructure
Slide 14: Financial update
Financial update 14
Slide 15: Subscription-based revenue model with ARR base at USD 143.5m in Q3 2026
Subscription-based revenue model with ARR base at USD 143.5m in Q3 2026 ARR ARR split USD million Percent of ARR Secure & Custom Connected Spaces Defense and national security 15% Enterprise +17% 26% 140.2 143.5 135.0 131.0 Healthcare 17% 122.2 +27% +25% 64.2 68.0 56.3 59.3 18% 25% 53.4 Government R
Slide 16: Increasing subscription revenues in Secure video communication is driving the growth
Increasing subscription revenues in Secure video communication is driving the growth Secure & Custom subscription revenue is driving the growth Combining strong new sales and excellent net retention Secure & Custom, annual recurring revenue, USD million Annual recurring revenue, USD million +27% 10%
Slide 17: Connected Spaces continue to see high new sales and lower net retention
Connected Spaces continue to see high new sales and continued lower net retention compared to Secure & Custom Connected Spaces ahead of mid-single digit growth ambition Higher rotation segment than Secure & Custom Connected Spaces, annual recurring revenue, USD million Annual recurring revenue, USD
Slide 18: Consistent and accelerating double digit growth with strong operating leverage
Consistent and accelerating double digit growth with strong operating leverage Revenue and EBITDA excluding other gains and losses USD million +25% • 25% revenue growth from Q3 2025 32.9 compared to 17% ARR growth +23% • Delivered two large three-year 26.3 software contracts in Q3 2026 +4% 20.4 21.4
Slide 19: Stable OPEX level
Stable OPEX level Quarterly cost development USD million +4% 21.9 21.1 Salary and personnel expenses 18.8 19.1 18.4 3.7 4.2 Flat year-on-year increase in salary and 4.4 1.8 4.6 personnel expenses 3.8 2.1 1.1 1.0 Other Operating expenses USD 0.8 million higher OPEX, with higher 15.3 15.3 15.9 13.5 13
Slide 20: Free cash flow up to $8.6 million in Q3 2026 from higher profits
Free cash flow up to $8.6 million in Q3 2026 from higher profits, LTM free cash flow up to $44 million Cash flow bridge Q3 2026 Capital allocation LTM USD million USD million • USD 8.6 million in free cash flow, up from 0.1 0.1 USD 2.8 million last year Cash and money 52.7 market funds Q3 2025 – Due
Slide 21: Q3 2026 Financial results
Q3 2026 Financial results Profit and loss USD million Q3'26 Q3'25 Y-o-Y • 25% revenue growth somewhat above ARR growth from higher software sales and two large multi-year Revenue 32.9 26.3 6.6 software deliveries Cost of goods sold 4.0 2.7 1.3 Gross Profit 28.9 23.6 5.2 • Higher COGS from higher cos
Slide 22: Outlook and targets
Outlook and targets 22
Slide 23: Outlook
Outlook Short-term ARR guidance for Q4 2026 Continued positive market outlook $144-150M across the business areas driven by market trends • Expect continued strong development in Secure & Custom with large opportunities under discussion. • The outlook includes the downside risk related to a possible
Slide 24: Upcoming dates
Upcoming dates Q4 2026 Quarterly Presentation February 11, 2027 24
Slide 25: Q&A
Q&A Investor.pexip.com