Virtualware 2007 Sa · EURONEXT:ALVIR
Virtualware 2007 Sa — Investor Presentation (October 2026)
16 slides from Virtualware 2007 Sa's investor presentation, Oct 19, 2026
Slide 1: Equity Story: Industrial Real-Time 3D software
Equity Story Industrial Real -Time 3D software for industry, nuclear, critical infrastructure and defence October 2026 Euronext Growth Paris · ALVIR
Slide 2: Who we are
01 Who we are Euronext -listed company Virtualware is a profitable, THE GROUP IN FOUR NUMBERS industrial software group, a pioneer in the fields of Real -Time 3D and, since 2004, a global pioneer in immersive technologies. €10m Pro forma revenue 2026 VIRTALIS NO NEW SHARES €2.5m In September 2026 it
Slide 3: Industrial Real-Time 3D is growing at around 20% a year
02 Market opportunity Industrial Real -Time 3D is growing at around 20% a year. ANNUAL GROWTH 21% 20% 16% Global VR market Enterprise VR training Simulation & learning $15.6B in 2026 → $40.7B in 2031 $7.6B in 2025 → $33B in 2033 $29.2B in 2026 → $53.5B in 2030 WHERE VIRTUALWARE OPERATES THE CHALLENG
Slide 4: From enterprise XR specialist to Industrial Real-Time 3D software company
03 Company overview Virtualware has evolved from an enterprise XR specialist into an Industrial Real -Time 3D software company. 2004 Founded in Bilbao by Unai Extremo (CEO) and Sergio Barrera (CTO), who still run the company and own more than 80% of its shares. RECURRING REVENUE, % OF TOTAL 2010s En
Slide 5: Investment thesis, as of 4Q2026
04 Investment thesis Investment thesis, as of 4Q2026. 01 02 03 A listed European group in Industrial Real -Time Scale doubled upon the acquisition Growing software and recurring revenue base 3D Three proprietary and complementary software products Pro forma 2026: €10m revenue, €2.5m EBITDA (25% 51%
Slide 6: The acquisition of Virtalis has been transformational
05 The acquisition The acquisition of Virtalis has been transformational. On 28 September 2026, Virtualware completed the acquisition of 100% of Virtalis, the Manchester -based virtual reality and RT3D visualisation software company founded in VIRTALIS, FINANCIAL YEAR TO 30 JUNE 2026 2003. PRESS COV
Slide 7: Virtualware + Virtalis
05 The acquisition Virtualware + Virtalis. The transaction brings together two profitable, product -led companies of comparable scale. TRANSACTION TERMS COMBINED GROUP, PRO FORMA 2026* Cash consideration €4.95m, paid on completion Debt assumed €1.3m Enterprise value €6.25m €10m €2.5m EV / FY26 EBITD
Slide 8: First step in building a portfolio covering the Industrial RT3D lifecycle
05 The acquisition The transaction is the first step in building a portfolio of solutions covering the entire lifecycle of Industrial Real -Time 3D* applications. Virtualware’s ambition is to own the lifecycle of Industrial Real -Time 3D applications, transforming industrial data, knowledge, models
Slide 9: Bringing together two client bases in defence, energy, industry and education
05 The acquisition Bringing together two client bases made up of leading names in defence, energy, industry and education. The two customer lists barely overlap, so each company's products can be sold to the other's clients. Both serve tier -one defence, aerospace, energy and industrial groups, with
Slide 10: EBITDA per share is almost four times higher post-acquisition
05 The acquisition EBITDA per share is almost four times higher post -acquisition. Metric Pre -transaction (2025) Post -transaction (2026 pro forma) %Change Revenue per share 0.95 2.20 131% EBITDA per share 0.148 0.55 272% NET DEBT/EBITDA 4.01 1.96 -48% Accretive 4.5x EV/EBITDA Before synergies The
Slide 11: Key financial data and 2026 guidance
06 Financial overview Key financial data and 2026 guidance. €'000 2024 2025 2026E >€6.3m Revenue 4,200 4,320 6,300 Recurring revenue 1,737 1,944 3,200 2026E Revenue >46% growth Recurring % 41% 45% 51% Gross margin* ~87% ~94% 91% EBITDA (includes capitalised R&D costs) 808 672 1,260 20% EBITDA margin
Slide 12: Recurring revenue as a value driver for investors
06 Financial overview Recurring revenue as a value driver for investors. REVENUE COMPOSITION (€'000) RECURRING REVENUE, % OF TOTAL 7000 51% 6000 45% 43% 5000 35% 4000 3000 23% 2000 1000 0 2022 2023 2024 2025 2026E Recurring revenue Services Legacy projects 2022 2023 2024 2025 2026E Why recurring rev
Slide 13: Revenue and EBITDA trajectory
06 Financial overview Revenue and EBITDA trajectory. REVENUE AND EBITDA (€'000) Since 2022 6,300 EBITDA positive every year 4,200 4,320 20% 2026E EBITDA margin — driven by recurring revenue mix shift 1,300 808 672 2024 2025 2026E >46% 2026E revenue growth Revenue EBITDA 2026 is the final year of the
Slide 14: Three pillars that will drive our next phase
07 Next phase: 2027 – 2029 strategic plan Three pillars that will drive our next phase. Sustainable, international growth with a focus on critical sectors and a clear commitment to an integrated portfolio of propr ietary software products. 01 02 03 Mission critical industries and international Recur
Slide 15: Executive summary
Executive summary Building the European specialist that makes Industrial Real - Time 3D operational. €10m · €2.5m >50% 4.5x The combined group reaches €10m of revenue More than half of revenue is recurring, and gross Virtualware bought Virtalis at 4.5x EBITDA with and €2.5m of EBITDA pro forma for 2
Slide 16: Safe Harbor
Safe Harbor. This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to se ll or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies . Any decision to buy or invest in secu
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